Single Phase Shunt Reactor Market Size - By Insulation (Oil Immersed, Air Core), By Product (Fixed Shunt Reactor, Variable Shunt Reactor), By End Use (Electric Utility, Renewable Energy), 2023 - 2032

Single Phase Shunt Reactor Market Size - By Insulation (Oil Immersed, Air Core), By Product (Fixed Shunt Reactor, Variable Shunt Reactor), By End Use (Electric Utility, Renewable Energy), 2023 - 2032

Single Phase Shunt Reactor Market is estimated to grow at 6% CAGR between 2023 and 2032, driven by the increasing demand for reliable and stable power transmission and distribution networks. These reactors help in maintaining voltage levels, reducing transmission line losses, and enhancing the overall efficiency of power systems.

Additionally, as more renewable energy projects come online, the intermittent nature of sources like wind and solar requires effective voltage control solutions. Single-phase shunt reactors prove instrumental in stabilizing the grid, mitigating voltage fluctuations, and supporting the seamless integration of renewable energy. In July 2021, Grid Solutions, a GE Renewable Energy business, declared a contract with Power Grid Corporation of India Limited (PGCIL), to provide 32 units of 765 kV reactors and 13 units of 765 kV transformers.

The overall single phase shunt reactor industry is divided on the basis of insulation, product, end use, and region.

Oil immersed insulation segment is anticipated to witness substantial growth through 2032, as it offers efficient cooling and insulation, ensuring optimal performance and longevity of the reactor. These reactors are particularly favored for their ability to handle higher voltage levels, making them integral components in power transmission and distribution networks. The robust insulation properties of oil contribute to enhanced reliability and operational stability, making these reactors essential for maintaining voltage levels and reducing transmission losses.

Variable shunt reactors segment will record notable growth during 2023 and 2032, attributed to their adaptive and flexible nature in addressing voltage control challenges. These reactors enable dynamic adjustment of reactance levels, providing utilities with precise control over voltage regulation in power transmission networks. This versatility proves crucial in managing the intermittent nature of renewable energy sources and fluctuations in power demand.

Europe single phase shunt reactors industry will showcase impressive growth trends over 2023-2032, favored by stringent environmental regulations and the push toward carbon neutrality. The increasing interconnection of European power grids to facilitate cross-border energy exchange accentuates the importance of these reactors in maintaining grid stability. The emphasis on enhancing grid resilience in the face of growing cybersecurity threats further propels the adoption of single-phase shunt reactors in Europe.