Global Shunt Reactor market would thus note a steady growth over the forecast period of 2020 – 2025. The robust CAGR (Compound Annual Rate Growth) will chart an upward growth curve and create lucrative growth opportunities in the global Shunt Reactor market. In, turn, this will lead to improvement in market worth.
Global Shunt Reactor Market: Notable Development
Global Shunt Reactor market is set to witness growth and a number of notable developments are paving the way for the same. The competitive landscape is also duly impacted by these developments. A deep dive can be had a published report by Adroit Market Research.
The global Shunt Reactor market is highly consolidated. And, key players in the global Shunt Reactor market are Mitsubishi Electric Power Products, Inc., ABB Ltd, Siemens AG, CG Power, Fuji Electric Co., Ltd., General Electric Company, TBEA Co., Ltd, HICO America, Nissin Electric Co., Ltd, Zaporozhtransformator, and others.
Global Shunt Reactor Market: Key trends and driver
Shunt reactor market will grow at a healthy rate. Eyeing the environmental concerns, use of cables is increased in off-shore wind parks and overhead lines. However, cables generate reactive power than overhead lines, which necessitates use of shunt reactor for transmitting active power in the grid. Besides, the demand for shunt reactors in remote villages (located close to the sub-station) is high, without the need for a high voltage step down transformer.