Shunt Reactor market is projected to grow at a CAGR of 2% during the forecasting period 2021-2027

This increase can be due to the electricity demand, the upgrading of ageing technology in developing countries, and the expansion and improvement of the transmission and distribution networks. During the forecast period, the oil-immersed segment is expected to rise at the fastest rate. Oil-immersed shunt reactors, which are wired directly to the high-voltage busbar/transmission network, are typically used for systems with a voltage profile of 72.5 kV and above. Oil-immersed shunt reactors are projected to be in high demand in the North American and European markets. Air-core dry shunt reactors are typically used for system voltages below 72.5 kV and are integrated into the system through the tertiary winding of a power transformer connected to the compensated overhead line. The global demand for electrical services is projected to be dominated by this segment. The rise in investments in T&D infrastructure, as well as the augmentation and modernization of the T&D network, is due to the increasing industrialization and urbanisation in developing countries around the world. In recent years, demand for shunt reactors has been driven by smart grid technologies and investments in renewable energy sources. Renewable energy projects are being prioritised by European and American countries for power generation. Renewable energy sources, unlike large power plants, produce volatile and fluctuating active power, which can be compensated with shunt reactors. As a result, the demand is expected to be driven by the increasing adoption of renewable energy sources in the near future. Rising businesses and rapid industrialization in Asia Pacific's developing economies, as well as the Middle East and Africa, are expected to propel the market forward during the forecast era. The field with the largest market share is projected to be Asia Pacific. In the Asia Pacific region, China has the largest market share and is expected to expand at the fastest pace during the forecast period. Factors such as strong growth in electricity demand driven by high levels of urbanisation, industrialization, infrastructural developments, and subsequent investments in expanding T&D networks will spur demand for shunt reactors in developing countries such as China and India.

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The Shunt Reactor Market report has been categorized as below
By Type
Oil immersed shunt reactors
Air-core shunt reactors
By End-User
Electric utilities
Industrial verticals
By Application
Variable shunt reactor
Fixed shunt reactor
By Region
North America
Europe
Asia Pacific
Rest of World
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