Shunt Reactor Market

Shunt Reactor Market by Type (Oil-Immersed and Air-Core), Application (Variable Reactors and Fixed Reactors), End-User (Electrical Utilities and Industrial Verticals), and Region (North America, Europe, Asia Pacific, and South America) - Global Forecast to 2022

Report Code: EP 3463 Oct, 2019, by marketsandmarkets.com
Updated date -

The Shunt Reactor Market is estimated to be USD 2.46 Billion in 2016 and is projected to reach USD 3.19 Billion by 2022, growing at a CAGR of 4.56%, from 2017 to 2022. The major drivers of the shunt reactor market include increasing demand for electricity, upgradation of the aging technology, and modernization of the T&D network.

Selected Market Dynamics in Shunt Reactor Market

Augmentation & modernization of transmission & distribution networks

T&D networks are the backbone for optimal performance of the electricity market in any country. As the demand for the electricity is increasing globally, stakeholders (both government and private) have also increased investments in the transmission and distribution infrastructure. Asia Pacific is projected to infuse the major share of global investment requirements toward augmentation and upgradation of its T&D network during 2017 to 2022. It is followed by North America and Europe, where the major investment would be utilized for the refurbishment of the T&D network. China accounted for majority of the power generation installed capacity in the Asia Pacific region in 2016. The country is in continuous process of augmenting its generation capacity. This growth in capacity addition is driving investments in China’s T&D sector as well, because of which China would dominate the market share of shunt reactor as well as other power system equipment. Thus, investments in the transmission and distribution systems are expected to impact the shunt reactor market, as huge investments are taking place in the utilities section which is backed by power projects, especially in countries such as Japan, Vietnam, and India. This is leading to Asia Pacific being the largest and the fastest growing market.

Development of alternate technologies

Growing focus toward grid reliability and energy loss minimization during transmission, led to the introduction and development of alternate technologies such as FACTS (Flexible AC Transmission System), HVDC systems, and so on. Conventional methods of grid stabilization (using devices such as capacitors) have their own imbibed limitations in terms of effective performance and speed and are gradually paving the way for more efficient technologies such as FACTS and HVDC systems.

Objectives of the Study

  • To define, describe, analyze, and forecast the global shunt reactors market on the basis of type, end-user, application, and region
  • To provide a detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market
  • To analyze market opportunities for stakeholders in the market and draw a competitive landscape for market players
  • To assess the global market with respect to recent developments, technological advancements, major investments, joint ventures, and merger & acquisitions

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on energy storage, and other related markets; newsletters and databases such as Hoover’s, Bloomberg, Businessweek, and Factiva, among others, to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. The primary sources include several industry experts from the core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain.  The research methodology has been explained below.

  • Study of annual revenues and market developments of major players providing shunt reactor solutions
  • Assessment of future trends and growth of rated capacity
  • Assessment of the market with respect to the technology used for different applications

After arriving at the overall shunt reactor market size, the total market was split into several segments and sub-segments. The figure given below illustrates the breakdown of the primary interviews conducted during the research study on the basis of company type, designation, and region.

Shunt Reactors Market

To know about the assumptions considered for the study, download the pdf brochure

Leading players in the shunt reactor market include GE (US), Siemens (Germany), MHPS (Japan), and Ansaldo (Italy).

Target Audience:

  • Equipment manufacturing companies
  • Raw material suppliers
  • Transmission and distribution utilities
  • Regulatory authorities
  • Government and industry associations
  • Construction industry
  • Manufacturing industry

Scope of the Report:

    By Type

    • Oil-Immersed
    • Air-Core

    By End-User

    • Electric Utilities
    • Industrial Verticals

    By Application

    • Variable Reactors
    • Fixed Reactors

    By Region

    • North America
    • Europe
    • Asia Pacific
    • South America
    • Middle East & Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Company Information

Detailed analyses and profiling of additional market players (up to five)

The global shunt reactor market is projected to grow at a CAGR of 4.56% from 2017 to 2022, and is projected to reach a market size of USD 3.19 Billion by 2022. This growth can be attributed to the increasing demand for electricity, upgradation of the aging technology in the developed nations, augmentation and modernization of the transmission and distribution network. Also, addition of high transmission lines is expected to drive the demand for global shunt reactors market.

The report segments the shunt reactor 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 shunt reactor 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.

On the basis of end-user, the shunt reactor market has been classified into electrical utilities and industrial verticals. The electrical utilities segment dominated the global market in 2016.  The growth is attributed to the growing industrialization and urbanization in emerging countries across the globe, increase in investments in the T&D infrastructure, and augmentation and modernization of the T&D network. The smart grid technology and investments in renewable energy sources have generated the demand for the shunt reactors market during the recent years. The European and American countries are focusing on renewable energy projects for power generation. Unlike large power generation plants, renewable sources generate unpredictable and fluctuating active power, which can be compensated using shunt reactors. Thus, the rising adoption of renewable energy sources is likely to drive the market in the coming future. Growing businesses and rapid industrialization in emerging economies of Asia Pacific and the Middle Eastern and African regions are also expected to drive the growth of the market during the forecast period.

Asia Pacific is currently the largest market for shunt reactor, 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 2017 to 2022. 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 2017 to 2022.

Shunt Reactor Market

The demand for shunt reactors can be directly linked to the development of T&D networks. However, developing alternative technologies such as FACTS (Flexible AC Transmission System) and HVDC systems act as a restraint to shunt reactors. Conventional methods of grid stabilization using devices such as capacitors have their limitations in terms of effective performance. Hence, efficient technologies such as FACTS and HVDC systems are becoming popular.

Leading players in the shunt reactor market include GE (US), Siemens (Germany), ABB (Switzerland), and Fuji Electric (Japan). Contracts & agreements was the most commonly used strategy by top players in the market

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 14)
    2.1 Introduction
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 22)

4 Premium Insights (Page No. - 26)
    4.1 Attractive Opportunities in the Market
    4.2 Market, Bycountry, 2017-2022
    4.3 Market, By Type, 2017 & 2022
    4.4 Asia Pacific Market, By Country & End-User, 2016
    4.5 Market, By Application, 2017

5 Market Overview (Page No. - 29)
    5.1 Introduction
           5.1.1 Drivers
                    5.1.1.1 Augmentation & Modernization of Transmission & Distribution Networks
                    5.1.1.2 Rising Demand for Electricity
                    5.1.1.3 Upgradation of Aging Technology in Developed Nations
                    5.1.1.4 High Voltage Transmission Lines Addition
           5.1.2 Restraints
                    5.1.2.1 Development of Alternate Technologies
                    5.1.2.2 Low Quality Products
           5.1.3 Opportunities
                    5.1.3.1 Increase in Power Generation Capacity
                    5.1.3.2 Adopting Smart Grid Technology

6 Market, By Type (Page No. - 33)
    6.1 Introduction
    6.2 Oil-Immersed Shunt Reactors
    6.3 Air-Core Shunt Reactors

7 Market, By End-User (Page No. - 41)
    7.1 Introduction
    7.2 Electric Utilities
    7.3 Industrial Verticals

8 Market, By Application (Page No. - 45)
    8.1 Introduction
    8.2 Variable Shunt Reactor
    8.3 Fixed Shunt Reactor

9 Market, By Region (Page No. - 48)
    9.1 Introduction
    9.2 Asia Pacific
           9.2.1 China
           9.2.2 India
           9.2.3 Australia
           9.2.4 Japan
           9.2.5 Rest of Asia Pacific
    9.3 North America
           9.3.1 US
           9.3.2 Canada
           9.3.3 Mexico
    9.4 Europe
           9.4.1 Germany
           9.4.2 Russia
           9.4.3 UK
           9.4.4 France
           9.4.5 Italy
           9.4.6 Sweden
           9.4.7 Spain
           9.4.8 Rest of Europe
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
           9.5.2 South Africa
           9.5.3 UAE
           9.5.4 Kuwait
           9.5.5 Qatar
           9.5.6 Algeria
           9.5.7 Nigeria
           9.5.8 Rest of the Middle East & Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Rest of South America

10 Competitive Landscape (Page No. - 75)
     10.1 Overview
     10.2 Competitive Scenario
             10.2.1 Contracts & Agreements
             10.2.2 Expansions

11 Company Profiles (Page No. - 82)
(Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     11.1 ABB
     11.2 Siemens
     11.3 Crompton Greaves
     11.4 General Electric
     11.5 Zaporozhtransformator
     11.6 Fuji Electric
     11.7 Toshiba
     11.8 Mitsubishi Electric
     11.9 Nissin Electric
     11.10 TBEA
     11.11 Trench Group
     11.12 Hilkar

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 111)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Knowledge Store: Marketsandmarkets Subscription Portal
     12.5 Introducing RT: Real Time Market Intelligence
     12.6 Available Customizations
     12.7 Related Reports
     12.8 Author Details


List of Tables (70 Tables)

Table 1 Shunt Reactor Market Snapshot
Table 2 Shunt Reactor Market Size, By Type
Table 3 Oil-Immersed: Market Size, By Region
Table 4 North America: Oil-Immersed Market Size,
Table 5 Europe: Oil-Immersed Market Size, By Country
Table 6 Asia Pacific: Oil-Immersed Market Size, By Country
Table 7 South America: Oil-Immersed Market Size, By Country
Table 8 Middle East & Africa: Oil-Immersed Market Size, By Country
Table 9 Air-Core: Market Size, By Region, 2015–2022
Table 10 North America: Air-Core Market Size, By Country, 2015–2022
Table 11 Europe: Air-Core Market Size, By Country, 2015–2022
Table 12 Asia Pacific: Air-Core Market Size By Country, 2015–2022
Table 13 South America: Air-Core Market Size By Country, 2015–2022
Table 14 Middle East & Africa: Air-Core Market Size By Country, 2015–2022
Table 15 Market Size, By End-User, 2015–2022
Table 16 Electric Utilities: Market Size By Region, 2015–2022
Table 17 Industrial Verticals Market Size By Region, 2015–2022
Table 18 Shunt Reactor Market Size By Application, 2015–2022
Table 19 Variable: Market Size By Region, 2015–2022
Table 20 Fixed: Market Size By Region, 2015–2022
Table 21 Shunt Reactors Market Size By Region, USD Million, 2015–2022
Table 22 Asia Pacific: Market Size By Type, 2015–2022
Table 23 Asia Pacific: Market Size By End-User, 2015–2022
Table 24 Asia Pacific: Market Size By Application, 2015–2022
Table 25 Asia Pacific: Market Size By Country, 2015–2022
Table 26 China: Market Size, By Type, 2015–2022
Table 27 India: Market Size, By Type, 2015–2022
Table 28 Australia: Market Size, By Type, 2015–2022
Table 29 Japan: Market Size, By Type, 2015–2022
Table 30 Rest of Asia Pacific: Market Size, By Type, 2015–2022
Table 31 North America: Market Size, By Type, 2015–2022
Table 32 North America: Market Size, By End-User, 2015–2022
Table 33 North America: Market Size, By Application, 2015–2022
Table 34 North America: Market Size, By Country, 2015–2022
Table 35 US: Market Size, By Type, 2015–2022
Table 36 Canada: Market Size, By Type, 2015–2022
Table 37 Mexico: Market Size, By Type, 2015–2022
Table 38 Europe: Market Size, By Type, 2015–2022
Table 39 Europe: Market Size, By End-User, 2015–2022
Table 40 Europe: Market Size, By Application, 2015–2022
Table 41 Europe: Market Size, By Country, 2015–2022
Table 42 Germany: Market Size, By Type, 2015–2022
Table 43 Russia: Market Size, By Type, 2015–2022
Table 44 UK: Market Size, By Type, 2015–2022
Table 45 France: Market Size By Type, 2015–2022
Table 46 Italy: Market Size By Type, 2015–2022
Table 47 Sweden: Market Size By Type, 2015–2022
Table 48 Spain: Market Size By Type, 2015–2022
Table 49 Rest of Europe: Market Size By Type, 2015–2022
Table 50 Middle East & Africa: Market Size By Type, 2015–2022
Table 51 Middle East & Africa: Market Size By End-User, 2015–2022
Table 52 Middle East & Africa: Market Size By Application, 2015–2022
Table 53 Middle East & Africa: Market Size By Country, 2015–2022
Table 54 Saudi Arabia: Market Size By Type, 2015–2022
Table 55 South Africa: Market Size By Type, 2015–2022
Table 56 UAE: Market Size By Type, 2015–2022
Table 57 Kuwait: Market Size By Type, 2015–2022
Table 58 Qatar: Market Size By Type, 2015–2022
Table 59 Algeria: Market Size By Type, 2015–2022
Table 60 Nigeria: Market Size, By Type, 2015–2022
Table 61 Rest of the Middle East & Africa: Market Size, By Type
Table 62 South America: Market Size By Type.
Table 63 South America: Market Size By End-User, 2015–2022 (USD Million)
Table 64 South America: Market Size By Application, 2015–2022 (USD Million)
Table 65 South America: Market Size By Country, 2015–2022 (USD Million)
Table 66 Brazil: Market Size By Type, 2015–2022 (USD Million)
Table 67 Argentina: Market Size By Type, 2015–2022 (USD Million)
Table 68 Rest of South America: Market Size, By Type, 2015–2022 (USD Million)
Table 69 Contracts & Agreements, 2014–2017
Table 70 Expansions, 2014–2017


List of Figures (32 Figures)

Figure 1 Markets Covered: Shunt Reactor Market Segmentation
Figure 2 Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Shunt Reactor Market: Market Estimation Approach & Data Triangulation Methodology
Figure 7 The Market in Asia Pacific Dominated the Global Market in 2016
Figure 8 The Oil-Immersed Segment is Expected to Lead the Global Market, By Type, During the Forecast Period
Figure 9 Shunt Reactors Market: Application Snapshot
Figure 10 Market: End-User Snapshot
Figure 11 Increased Demand for Electricity is Expected to Drive the Global Market During the Forecast Period
Figure 12 The Markets in Canada & India are Expected to Hold the Growth Rate During the Forecast Period
Figure 13 The Oil-Immersed Segment is Expected to Grow at the Fastest Pace During the Forecast Period
Figure 14 The Electric Utilities Segment is Expected to Lead the Global Market During the Forecast Period
Figure 15 The Variable Reactor Segment is Expected to Lead the Global Market in 2017
Figure 16 Market Dynamics for the Global Market
Figure 17 Shunt Reactor Market Share (Value), By Type, 2016
Figure 18 Market Share (Value), By End-User, 2016
Figure 19 Market Share (Value), By Application, 2016
Figure 20 Regional Snapshot: Rapid Growth in Developing Markets
Figure 21 Asia Pacific Global Market Snapshot
Figure 22 North American Global Market Snapshot
Figure 23 Companies Adopted Contracts & Agreements & New Expansions to Capture the Market 2014–2017
Figure 24 ABB: Company Snapshot
Figure 25 Siemens: Company Snapshot
Figure 26 Crompton Greaves: Company Snapshot
Figure 27 General Electric: Company Snapshot
Figure 28 Fuji Electric: Company Snapshot
Figure 29 Toshiba: Company Snapshot
Figure 30 Mitsubishi Electric: Company Snapshot
Figure 31 Nissin Electric: Company Snapshot
Figure 32 TBEA : Company Snapshot


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Report Code
EP 3463
Published ON
Oct, 2019
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