MARKET INTRODUCTION
The shunt reactor absorbs reactive power and thus increases the energy efficiency of the system. The device is commonly used for reactive power compensation in long high-voltage transmission lines and in cable systems. The shunt reactor is primarily of two types, air-core shunt reactor and oil immersed shunt reactor. The ever increasing demand for electricity and investments in the transmission and distribution infrastructure is likely to fuel the growth in the developing countries of the Asia Pacific region.
MARKET DYNAMICS
The shunt reactor market is anticipated to grow in the forecast period owing to driving factors such as the addition of high voltage transmission lines and increasing demand for electricity. Also, the up-gradation of aging technology in the developed nations is further propelling the demand for shunt reactors. Alternate technologies, however, may hinder the growth of the shunt reactor market in the forecast period. On the other hand, the adoption of smart grid technology is likely to open significant opportunities for the players involved in the shunt reactor market in future.
MARKET SCOPE
The "Global Shunt Reactor Market Analysis to 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The report aims to provide an overview of shunt reactor market with detailed market segmentation by type, voltage, phase, and geography. The global shunt reactor market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading shunt reactor market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global shunt reactor market is segmented on the basis of type, voltage, and phase. Based on type, the market is segmented as air-core shunt reactors and oil-immersed shunt reactors. On the basis of the voltage, the market is segmented as up to 200 kV, 200-400 kV, and above 400 kV. The market on the basis of the phase is classified as single phase and three phase.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global shunt reactor market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The shunt reactor market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting shunt reactor market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the shunt reactor market in these regions.
MARKET PLAYERS
The reports cover key developments in the shunt reactor market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from shunt reactor market are anticipated to lucrative growth opportunities in the future with the rising demand for shunt reactor in the global market. Below mentioned is the list of few companies engaged in the shunt reactor market.
The report also includes the profiles of key shunt reactor companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- ABB Ltd.
- Aktif Group of Companies
- CG Power and Industrial Solutions Ltd.
- Coil Innovation GmbH
- General Electric Company
- Hyosung Heavy Industries
- Mitsubishi Electric Corporation
- Siemens AG
- Trench Group
- TSEA
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.