Future Market Insights delivers key insights on the global shunt reactor market. Their latest report, “Shunt Reactor Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”, predicts global shunt reactor market revenue is projected to expand at a healthy CAGR of 8.6% over the forecast period.
Factors driving the growth of the shunt reactor market include an expanding distribution network and increasing demand for electricity. Other factors include refurbishment of coal-fired plants, ageing infrastructure, emergence of microgrids and interconnection of local and regional grids.
Due to changes in load structure and power generation, transmission and distribution networks face new demand for transformers/shunt reactors. In most regions, power grids go through a gradual change such as switching from overhead lines to underground cables. In addition, other changes include the addition of capacity to meet electricity demand and interconnection of state/regional grids. Such changes are expected to drive demand for variable shunt reactors in the near future and in turn offer unprecedented opportunities to shunt reactor manufacturers, distributors, and product converters in the market. Furthermore, the trend is even more pronounced in emerging economies such as Brazil, India, Russia, and China. Healthy trade relations and government support in these regions have served to boost export-import activities of shunt reactors.
However, increasing component costs could inhibit new product sales, which could pose challenges and thereby restrain the growth of the global shunt reactor market.
The global shunt reactors market is segmented on the basis of region, product type, phase, rating, voltage range and end-use application. By product type, shunt reactors are segmented into air-core dry type and oil immersed. On the basis of end-use application, the market is segmented into residential and commercial. The global shunt reactor market is segmented into fixed and variable rating types. The market’s voltage range is segmented into less than 200 kV, 200-400 kV, and greater than 400 kV.
Read more: Emerging Shunt Reactor Market Is Projected to Expand at a Healthy CAGR of 8.6% by 2026