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Shunt Reactor Market: Current Analysis and Forecast (2021-2027)

Region:Global

Product Code:UMEP21668

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Published On

January 2022

Total pages

232 Table of Content

Market Overview
Scope Of The Report
Product covered
Table Of Content
Research Methodology
FAQs

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About the Report

Shunt reactors are used to increase the power and energy system efficiency as they absorb and compensate for the reactive power in cables and long high-voltage transmission lines. It can be directly connected to the power line or the tertiary winding of a three-winding transformer. In high-voltage energy transmission systems, shunt reactors are employed to keep the voltage stable during load changes. Traditional shunt reactors have a fixed rating and are either permanently connected to the power line or switched in and out depending on the demand.

Thus, rising investments in power transmission and distribution networks coupled with the growing augmentation and modernization of transmission and distribution networks across the globe, are expected to drive the market. For instance, to meet the demand of China's cities and industrial zones for electricity, the State Grid Corporation of China (SGCC) is building 12 electricity transmission lines linking the coal production and hydropower centers for a project valued at USD 33.7 billion. According to China's state grid company, the line can transmit up to 12 gigawatts, which is enough to power 50 million Chinese households.

Based on phase, the shunt reactor market is categorized into Single Phase and Three Phase. Amongst these, the three-phase category is expected to hold a significant share in 2020. A three-phase shunt reactor is generally connected to a high-voltage electrical bus system for capacitive reactive power compensation of the power system and to control dynamic over voltage occurring in the system due to load rejection.

Based on type, the Shunt Reactor market is classified into Oil-Immersed and Air-Core. Amongst types, the oil-immersed category accounts for the majority share of the market owing to growing energy demand in the industrial sector as well as the launch of new products by major players in the market.

Based on voltage, the Shunt Reactor market is bifurcated into three segments: up to 200 KV, 200-400 KV, and above 400 KV. In 2020, the above 400 KV category accounted for a considerable share of the market. Moreover, growing requirements for protection solutions against sudden voltage spikes and investments into upgrading existing transmission and distribution networks are also augmenting the demand for high voltage shunt reactors.

On the basis of end-user, the market is categorized into electric utilities and industrial verticals. During the forecast period, the electric utilities category will hold a dominant position in the market. The demand for electricity is increasing as various developing nations are engaged in expanding their power generation capacity, due to the continuous rise in population and urbanization rate. Thus, the electric utilities category is expected to witness tremendous growth during the forecast period.

Based on application, the shunt reactor market has been bifurcated into Variable Shunt Reactor and Fixed Shunt Reactor. Of these, variable shunt reactors will witness steady growth during the forecast period. As variable shunt reactors are an economical means to improve voltage stability and power quality under time-varying load conditions.

For a better understanding of the market adoption of Shunt Reactor Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. In 2020, Asia-Pacific dominated the shunt reactor market on account of increasing utilization of shunt reactors for electric utilities and industry vertical applications. Shunt reactors offer high efficiency and are used in places where high voltage and minimal losses are critical parameters. Moreover, surging consumption of electricity in developing countries such as India and China is escalating the adoption of smart grids, coupled with the increasing need to upgrade existing energy and power infrastructure, has positively influenced the market demand for shunt reactors.

Some of the major players operating in the market include General Electric Company, Siemens Energy AG, Hitachi Energy Ltd., Hyosung Corporation, CG Power and Industrial Solutions Limited, Nissin Electric Co. Ltd., Fuji Electric Co., TBEA Co. Ltd., Hyundai Heavy Industries Co. Ltd., and GBE S.p.A. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Scope of the Report

Products

Shunt reactors are used to increase the power and energy system efficiency as they absorb and compensate for the reactive power in cables and long high-voltage transmission lines.

Companies

General Electric Company, Siemens Energy AG, Hitachi Energy Ltd., Hyosung Corporation, CG Power and Industrial Solutions Limited, Nissin Electric Co. Ltd., Fuji Electric Co., TBEA Co. Ltd., Hyundai Heavy Industries Co. Ltd., and GBE S.p.A.

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stakeholders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Shunt Reactor Market

2.2. Research Methodology of the Shunt Reactor Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Shunt Reactor Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 IMPACT OF COVID-19 ON THE SHUNT REACTOR MARKET

6 SHUNT REACTOR MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY PHASE

7.1. Single Phase

7.2. Three Phase

8 MARKET INSIGHTS BY TYPE

8.1. Oil-Immersed

8.2. Air-Core

9 MARKET INSIGHTS BY VOLTAGE

9.1. Upto 200 Kv

9.2. 200-400 Kv

9.3. Above 400 Kv

10 MARKET INSIGHTS BY END-USER

10.1. Electric Utilities

10.2. Industrial Verticals

11 MARKET INSIGHTS BY APPLICATION

11.1. Variable Shunt Reactor

11.2. Fixed Shunt Reactor

12 MARKET INSIGHTS BY REGION

12.1. North America

12.1.1. U.S.

12.1.2. Canada

12.1.3. Rest of North America

12.2. Europe

12.2.1. Germany

12.2.2. U.K.

12.2.3. France

12.2.4. Italy

12.2.5. Spain

12.2.6. Rest of Europe

12.3. Asia-Pacific

12.3.1. China

12.3.2. Japan

12.3.3. India

12.3.4. Australia

12.3.5. Rest of Asia-Pacific

12.4. Rest of World

13 SHUNT REACTOR MARKET DYNAMICS

13.1. Market Drivers

13.2. Market Challenges

13.3. Impact Analysis

14 SHUNT REACTOR MARKET OPPORTUNITIES

15 SHUNT REACTOR MARKET TRENDS

16 DEMAND AND SUPPLY SIDE ANALYSIS

16.1. Demand Side Analysis

16.2. Supply Side Analysis

17 COMPETITIVE SCENARIO

17.1. Porter's Five Forces Analysis

17.1.1. Bargaining power of Supplier

17.1.2. Bargaining power of Buyer

17.1.3. Industry Rivalry

17.1.4. Availability of Substitute

17.1.5. Threat of New Entrants

17.2. Competitive Landscape

18 COMPANY PROFILED

18.1. General Electric Company

18.2. Siemens Energy AG

18.3. Hitachi Energy Ltd.

18.4. Hyosung Corporation

18.5. CG Power and Industrial Solutions Limited

18.6. Nissin Electric Co., Ltd.

18.7. Fuji Electric Co.

18.8. TBEA Co. Ltd

18.9. Hyundai Heavy Industries Co. Ltd

18.10. GBE S.p.A

19 DISCLAIMER

Research Methodology

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