A shunt reactor is an absorber of reactive power, thus increasing the energy efficiency of the system. It is the most compact device commonly used for reactive power compensation in long high-voltage transmission lines and in cable systems.
Scope of the Shunt Reactor Market Report: This report focuses on the Shunt Reactor in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.Asia Pacific is currently the largest market for shunt reactors, followed by North America and Europe. China accounted for a majority share in the Asia Pacific region and is projected to grow at the highest CAGR from 2018 to 2023. In developing countries such as China and India, factors such as strong growth in the demand for electricity fueled by high levels of urbanization, industrialization, infrastructural developments, and subsequent investments in developing T&D networks, would spur the demand for shunt reactors. The figure below shows the market sizes for all the regions from 2018 to 2023.The worldwide market for Shunt Reactor is expected to grow at a CAGR of roughly 4.7% over the next five years, will reach 2690 million US$ in 2023, from 2040 million US$ in 2017, according to a new GIR (Global Info Research) study.