The shunt reactor market is expected to grow from an estimated USD 2.56 billion in 2017 to USD 3.19 billion by 2022, registering a CAGR of 4.56% from 2017 to 2022. The global market for shunt reactor is driven by the rising demand for electricity for power generation, and the addition of high voltage transmission networks. Also, upgrading aging technology in the developed nations is expected to drive the shunt reactors market as they are used to stabilize the system voltage during load variations by absorbing excess reactive power generated in the transmission network.

To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the key players in the shunt reactor market including GE (US), Siemens (Germany), ABB (Switzerland), and Fuji Electric (Japan). Leading players in the shunt reactor industry are trying to penetrate the developing economies in Asia-Pacific region.

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The report segments the market based on its type, which includes oil-immersed and air-core. Based on its end-user, the market is categorized as electric utilities and industrial verticals. Based on application the shunt reactors market has been segmented into variable reactor and fixed reactor.

On the basis of type, the market has been classified into oil-immersed and air-core. The oil-immersed segment is expected to grow at the fastest rate during the forecast period. Oil-immersed shunt reactors are usually utilized for systems with a voltage profile of 72.5 kV and above and are connected directly to the high-voltage busbar/transmission network. The North American and European markets are expected to witness a decent demand for oil-immersed shunt reactors. The air-core dry type of shunt reactors are primarily used for system voltages below 72.5 kV and are inserted into the system through the tertiary winding of a power transformer connected to the overhead line that is to be compensated.

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 “Asia Pacific: The leading market for shunt reactors”

Asia Pacific dominated the shunt reactor market in 2016. The increasing demand for shunt reactors in Asia Pacific is attributed to the increasing investments in utilities, which in turn, results in improvements in grid reliability and an increase in the number of electricity supply plans. China dominates the market for shunt reactors in the Asia Pacific region, owing to increased investments in the transmission sector. These investments are driven by the considerable demand for electricity. The market reforms in the country are encouraging even private participants to invest.

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