Shunt Reactor Market Research Report Information by Type (Oil-Immersed and Air-Core), By Application (Variable and Fixed), By End Use (Electric utilities and online), and By Region - Global Forecast to 2032
Market Overview
The Shunt Reactor market is expected to grow significantly during the review period, with a CAGR of 7.04%. The market was anticipated to be worth USD 2688.18 million in 2024 and would grow to USD 4631.7 million by the end of the forecast period (2024-2032). There are various factors that influence the global market for shunt reactors. Firstly, rising energy demand, particularly in emerging nations, necessitates grid modernization and voltage control technologies. As countries modernize their power infrastructure to meet rising electricity demand, demand for shunt reactors is likely to increase. Furthermore, the increased use of renewable energy sources such as wind and solar power needs investments in grid stabilizing systems. Shunt reactors play an important role in regulating voltage variations induced by the intermittent nature of renewable energy generation, hence facilitating their integration into the grid.
Stringent regulatory standards and grid codes also require the use of reactive power compensation technologies such as shunt reactors to preserve power quality and comply with voltage stability requirements. Utilities must invest in shunt reactors to meet regulatory requirements and maintain grid reliability standards. Furthermore, growing industry and urbanization in developing countries increase demand for electricity, necessitating investments in power infrastructure. Shunt reactors maintain grid voltage and improve power quality, hence promoting industrial growth and urban development projects.
The global shift to renewable energy sources, such as wind and solar power, constitutes a paradigm shift in the energy landscape, motivated by the desire to combat climate change, reduce greenhouse gas emissions, and improve energy security. While renewable energy provides several environmental benefits, its integration into the current power system poses particular issues due to the intermittent nature of wind and solar generating. Unlike typical fossil fuel-based power plants, which produce continuous and regulated electricity, renewable energy sources are affected by meteorological variables such as wind speed and sunshine intensity, resulting in oscillations in power output and system instability.
Market Segment Insights
The market for shunt reactors has been divided into two types: oil-immersed and air-core.
The shunt reactor market is divided into two segments based on application: variable and fixed.
The shunt reactor market is divided into two segments based on end use: electric utilities and online.
Regional insights
The global market is divided into five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Among these, the Asia-Pacific sector held the highest market share of 63.5% in 2022, with a market value of USD 1533.2 million; it is predicted to grow at a CAGR of 6.6% over the forecast period. The North America category had the second biggest market share in 2022, valued at USD 415.4 million, and is expected to grow at a CAGR of 4.9%.
Major Players
Nissin Electric Co Ltd, Abb India Pvt Ltd, Mitsubishi Corporation, Fuji Electric, Hd Hyundai Heavy Industries Co., Ltd., Tbea, Hilkar, Toshiba Corporation, Siemens AG, and Ge Grid Solution are among the key players in the shunt reactor market.
圖表清單 List of Tables & Figures
TABLE OF CONTENT
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 35
TABLE 2 GLOBAL SHUNT REACTOR MARKET BY TYPE, 2018-2032 (USD BILLION) 69
TABLE 3 GLOBAL SHUNT REACTOR MARKET, BY APPLICATION, 2018-2032 (USD BILLION) 72
TABLE 4 GLOBAL SHUNT REACTOR MARKET, BY END USE, 2018-2032 (USD BILLION) 75
TABLE 5 GLOBAL SHUNT REACTOR MARKET, BY REGION, 2018-2032 (USD BILLION) 78
TABLE 6 NORTH AMERICA SHUNT REACTOR MARKET, BY COUNTRY, 2018-2032 (USD BILLION) 81
TABLE 7 NORTH AMERICA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 81
TABLE 8 NORTH AMERICA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 81
TABLE 9 NORTH AMERICA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 81
TABLE 10 US SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 82
TABLE 11 US SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 82
TABLE 12 US SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 82
TABLE 13 CANADA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 83
TABLE 14 CANADA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 83
TABLE 15 CANADA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 83
TABLE 16 MEXICO SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 84
TABLE 17 MEXICO SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 84
TABLE 18 MEXICO SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 84
TABLE 19 EUROPE SHUNT REACTOR MARKET, BY COUNTRY, 2018-2032 (USD BILLION) 87
TABLE 20 EUROPE SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 87
TABLE 21 EUROPE SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 87
TABLE 22 EUROPE SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 87
TABLE 23 GERMANY SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 88
TABLE 24 GERMANY SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 88
TABLE 25 GERMANY SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 88
TABLE 26 UK SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 88
TABLE 27 UK SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 89
TABLE 28 UK SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 89
TABLE 29 ITALY SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 89
TABLE 30 ITALY SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 89
TABLE 31 ITALY SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 90
TABLE 32 SPAIN SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 90
TABLE 33 SPAIN SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 90
TABLE 34 SPAIN SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 90
TABLE 35 REST OF EUROPE SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 91
TABLE 36 REST OF EUROPE SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 91
TABLE 37 REST OF EUROPE SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 91
TABLE 38 ASIA PACIFIC SHUNT REACTOR MARKET, BY COUNTRY, 2018-2032 (USD BILLION) 94
TABLE 39 ASIA PACIFIC SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 94
TABLE 40 ASIA PACIFIC SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 94
TABLE 41 ASIA PACIFIC SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 94
TABLE 42 CHINA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 95
TABLE 43 CHINA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 95
TABLE 44 CHINA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 95
TABLE 45 JAPAN SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 96
TABLE 46 JAPAN SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 96
TABLE 47 JAPAN SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 96
TABLE 48 INDIA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 97
TABLE 49 INDIA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 97
TABLE 50 INDIA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 97
TABLE 51 AUSTRALIA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 97
TABLE 52 AUSTRALIA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 98
TABLE 53 AUSTRALIA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 98
TABLE 54 REST OF ASIA PACIFIC SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 98
TABLE 55 REST OF ASIA PACIFIC SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 98
TABLE 56 REST OF ASIA PACIFIC SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 99
TABLE 57 SOUTH AMERICA SHUNT REACTOR MARKET, BY COUNTRY, 2018-2032 (USD BILLION) 101
TABLE 58 SOUTH AMERICA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 101
TABLE 59 SOUTH AMERICA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 101
TABLE 60 SOUTH AMERICA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 101
TABLE 61 BRAZIL SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 102
TABLE 62 BRAZIL SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 102
TABLE 63 BRAZIL SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 102
TABLE 64 ARGENTINA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 103
TABLE 65 ARGENTINA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 103
TABLE 66 ARGENTINA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 103
TABLE 67 REST OF SOUTH AMERICA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 103
TABLE 68 REST OF SOUTH AMERICA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 104
TABLE 69 REST OF SOUTH AMERICA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 104
TABLE 70 MEA SHUNT REACTOR MARKET, BY COUNTRY, 2018-2032 (USD BILLION) 106
TABLE 71 MEA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 106
TABLE 72 MEA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 106
TABLE 73 MEA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 106
TABLE 74 SAUDI ARABIA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 107
TABLE 75 SAUDI ARABIA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 107
TABLE 76 SAUDI ARABIA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 107
TABLE 77 UAE SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 107
TABLE 78 UAE SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 108
TABLE 79 UAE SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 108
TABLE 80 QATAR SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 108
TABLE 81 QATAR SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 108
TABLE 82 QATAR SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 109
TABLE 83 SOUTH AFRICA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 109
TABLE 84 SOUTH AFRICA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 109
TABLE 85 SOUTH AFRICA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 109
TABLE 86 REST OF MEA SHUNT REACTOR MARKET, BY TYPE, 2018-2032 (USD BILLION) 110
TABLE 87 REST OF MEA SHUNT REACTOR MARKET ESTIMATES & FORECAST, BY APPLICATION, 2018-2032 (USD BILLION) 110
TABLE 88 REST OF MEA SHUNT REACTOR MARKET BY END USE, 2018-2032 (USD BILLION) 110
TABLE 89 PRODUCT LAUNCH, ACQUISITION AND MERGER 115
TABLE 90 NISSIN ELECTRIC: PRODUCTS OFFERED 117
TABLE 91 ABB INDIA PVT LTD: PRODUCTS OFFERED 120
TABLE 92 MITSUBISHI CORPORATION: PRODUCTS OFFERED 124
TABLE 93 FUJI ELECTRIC: PRODUCTS OFFERED 127
TABLE 94 HD HYUNDAI HEAVY INDUSTRIES CO., LTD: PRODUCTS OFFERED 131
TABLE 95 TBEA: PRODUCTS OFFERED 134
TABLE 96 HILKAR: PRODUCTS OFFERED 136
TABLE 97 TOSHIBA CORPORATION: PRODUCTS OFFERED 140
TABLE 98 SIEMENS AG: PRODUCTS OFFERED 143
TABLE 99 GE GRID SOLUTION: PRODUCTS OFFERED 146
LIST OF FIGURES
FIGURE 1 GLOBAL SHUNT REACTOR MARKET: STRUCTURE 22
FIGURE 2 GLOBAL SHUNT REACTOR MARKET: MARKET GROWTH FACTOR ANALYSIS (2022-2032) 38
FIGURE 3 DRIVER IMPACT ANALYSIS (2023-2032) 41
FIGURE 4 RESTRAINT IMPACT ANALYSIS (2022-2032) 43
FIGURE 5 VALUE CHAIN ANALYSIS: GLOBAL SHUNT REACTOR MARKET 56
FIGURE 6 SUPPLY CHAIN ANALYSIS: GLOBAL SHUNT REACTOR MARKET 59
FIGURE 7 PORTER’S FIVE FORCES MODEL: GLOBAL SHUNT REACTOR MARKET 64
FIGURE 8 GLOBAL SHUNT REACTOR MARKET, BY TYPE, SEGMENT ATTRACTIVENESS ANALYSIS 69
FIGURE 9 GLOBAL SHUNT REACTOR MARKET, BY TYPE, 2022 (% SHARE) 69
FIGURE 10 GLOBAL SHUNT REACTOR MARKET, BY APPLICATION, SEGMENT ATTRACTIVENESS ANALYSIS 72
FIGURE 11 GLOBAL SHUNT REACTOR MARKET, BY APPLICATION, 2022 (% SHARE) 73
FIGURE 12 GLOBAL SHUNT REACTOR MARKET, BY END USE, SEGMENT ATTRACTIVENESS ANALYSIS 75
FIGURE 13 GLOBAL SHUNT REACTOR MARKET, BY RAW MATERIAL, 2022 (% SHARE) 76
FIGURE 14 GLOBAL SHUNT REACTOR MARKET, BY REGION, 2022 (% SHARE) 78
FIGURE 15 NORTH AMERICA MARKET: SWOT ANALYSIS 80
FIGURE 16 NORTH AMERICA SHUNT REACTOR MARKET, BY COUNTRY, 2022 (% SHARE) 80
FIGURE 17 EUROPE MARKET: SWOT ANALYSIS 86
FIGURE 18 EUROPE SHUNT REACTOR MARKET, BY COUNTRY, 2022 (% SHARE) 86
FIGURE 19 ASIA PACIFIC MARKET: SWOT ANALYSIS 93
FIGURE 20 ASIA PACIFIC SHUNT REACTOR MARKET, BY COUNTRY, 2022 (% SHARE) 93
FIGURE 21 SOUTH AMERICA SHUNT REACTOR MARKET, BY COUNTRY, 2022 (% SHARE) 100
FIGURE 22 SOUTH AMERICA MARKET: SWOT ANALYSIS 100
FIGURE 23 MEA SHUNT REACTOR MARKET, BY COUNTRY, 2022 (% SHARE) 105
FIGURE 24 MEA MARKET: SWOT ANALYSIS 105
FIGURE 25 COMPETITOR DASHBOARD: GLOBAL FLAT ROOFING SYSTEMS MARKET 112
FIGURE 26 GLOBAL SHUNT REACTOR MARKET: COMPETITIVE ANALYSIS, 2022 113
FIGURE 27 NISSIN ELECTRIC: SWOT ANALYSIS 118
FIGURE 28 ABB INDIA PVT LTS: SWOT ANALYSIS 121
FIGURE 29 MITSUBISHI CORPORATION: SWOT ANALYSIS 125
FIGURE 30 FUJI ELECTRIC: SWOT ANALYSIS 128
FIGURE 31 HD HYUNDAI HEAVY INDUSTRIES CO., LTD: SWOT ANALYSIS 132
FIGURE 32 TBEA: SWOT ANALYSIS 135
FIGURE 33 HILKAR: SWOT ANALYSIS 137
FIGURE 34 TOSHIBA CORPORATION.: SWOT ANALYSIS 141
FIGURE 35 SIEMENS AG: SWOT ANALYSIS 144
FIGURE 36 GE GRID SOLUTION: SWOT ANALYSIS 147
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