The growth of the global shunt reactor market is linearly associated with energy demand worldwide, states a new study by Future Market Insights (FMI). Consumption of primary energy stood globally at 576 exajoules in 2019, with China, the US, and India leading the way. Alerted by the increasing carbon footprint, the industrial sector is rapidly investing in renewables, which made up for around 40% of worldwide growth in primary energy in 2019, finds the study.
The FMI report further opines that market players must innovate shunt reactors to meet the needs for power quality and voltage stability with grid integration of renewable energy sources.
Shunt Reactor Market Size Study
Air-core dry-type shunt reactors to witness greater traction through 2030
Adoption of variable shunt reactors (VSR) to accelerate in the near future
High demand for shunt reactors to come from the industrial sector over the following decade
Single-phase shunt reactors to gain momentum
Market players to turn to Asia Pacific excluding Japan (APEJ) for potential growth avenues
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“The networks for distributing and transmitting electrical energy is confronting new demands owing to changes in load structure and power generation. Both environmental and commercial drivers are contributing to this demand, and so does power quality. As the complexity of these systems is scaling up, adoption of shunt reactors is surging as they are reliable and cost-effective solution,” says an analyst at FMI.
Shunt Reactor Market – Competitive Intelligence
The global shunt reactor market is highly competitive, as leading players are striving to capture value at stake. Manufacturers are focusing on designing innovative solutions to serve diverse applications. For instance,
Trench Group develops air-core shunt reactors that stretch from small kVAr units for use cases including, limiting capacitor bank inrush, to large power reactors for myriads of use case including, shunt reactors that are over 100 MVAr per coil.
Zaporozhtransformator PJSC is developing magnetically controlled shunt reactors (MCSR) in order to implement flexible AC transmission systems (FACTS) projects.
Siemens AG has developed 100 MVAr variable shunt reactor for HOPS to address the challenges of excess reactive power regulation and high transmission voltages.
To Know More About Shunt Reactor Market:
A new market research report published by Future Market Insights (FMI) on the global shunt reactor market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the shunt reactor market through five different segments – product, phase, rating, application and region. The shunt reactor market report also provides an extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of shunt reactor and product adoption across several end-use industries.
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