HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: November 2017
Report Code: EP 3463

 

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The global shunt reactor market was valued at USD 2.46 Billion in 2016 and is projected to reach USD 3.19 Billion by 2022, at a CAGR of 4.56%, from 2017 to 2022.

The years considered for the study are as follows:

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017–2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, analyze, and forecast the global shunt reactor 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 shunt reactor market with respect to individual growth trends, future expansions, and contributions to the market
  • To analyze market opportunities for stakeholders in the shunt reactor market and draw a competitive landscape for market players
  • To assess the global shunt reactor 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 shunt reactor 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 shunt reactor 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 shunt reactor market with respect to the technology used for different applications

After arriving at the overall 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 Reactor 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)

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 Shunt Reactor Market
    4.2 Shunt Reactor Market, Bycountry, 2017-2022
    4.3 Shunt Reactor Market, By Type, 2017 & 2022
    4.4 Asia Pacific Shunt Reactor Market, By Country & End-User, 2016
    4.5 Shunt Reactor 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 Shunt Reactor Market, By Type (Page No. - 33)
    6.1 Introduction
    6.2 Oil-Immersed Shunt Reactors
    6.3 Air-Core Shunt Reactors

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

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

9 Shunt Reactor 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, 2015–2022 (USD Million)
Table 3 Oil-Immersed: Shunt Reactor Market Size, By Region, 2015–2022 (USD Million)
Table 4 North America: Oil-Immersed Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 5 Europe: Oil-Immersed Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 6 Asia Pacific: Oil-Immersed Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 7 South America: Oil-Immersed Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 8 Middle East & Africa: Oil-Immersed Shunt Reactor Market Size, By Country, 2015–2022 USD Million)
Table 9 Air-Core: Shunt Reactor Market Size, By Region, 2015–2022 (USD Million)
Table 10 North America: Air-Core Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 11 Europe: Air-Core Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 12 Asia Pacific: Air-Core Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 13 South America: Air-Core Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 14 Middle East & Africa: Air-Core Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 15 Shunt Reactor Market Size, By End-User, 2015–2022 (USD Million)
Table 16 Electric Utilities: Shunt Reactor Market Size, By Region, 2015–2022 (USD Million)
Table 17 Industrial Verticals Market Size, By Region, 2015–2022 (USD Million)
Table 18 Shunt Reactor Market Size, By Application, 2015–2022 (USD Million)
Table 19 Variable: Shunt Reactor Market Size, By Region, 2015–2022 (USD Million)
Table 20 Fixed: Shunt Reactor Market Size, By Region, 2015–2022 (USD Million)
Table 21 Shunt Reactor Market Size, By Region, USD Million, 2015–2022 (USD Million)
Table 22 Asia Pacific: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 23 Asia Pacific: Shunt Reactor Market Size, By End-User, 2015–2022 (USD Million)
Table 24 Asia Pacific: Shunt Reactor Market Size, By Application, 2015–2022 (USD Million)
Table 25 Asia Pacific: Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 26 China: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 27 India: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 28 Australia: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 29 Japan: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 30 Rest of Asia Pacific: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 31 North America: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 32 North America: Shunt Reactor Market Size, By End-User, 2015–2022 (USD Million)
Table 33 North America: Shunt Reactor Market Size, By Application, 2015–2022 (USD Million)
Table 34 North America: Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 35 US: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 36 Canada: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 37 Mexico: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 38 Europe: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 39 Europe: Shunt Reactor Market Size, By End-User, 2015–2022 (USD Million)
Table 40 Europe: Shunt Reactor Market Size, By Application, 2015–2022 (USD Million)
Table 41 Europe: Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 42 Germany: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 43 Russia: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 44 UK: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 45 France: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 46 Italy: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 47 Sweden: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 48 Spain: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 49 Rest of Europe: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 50 Middle East & Africa: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 51 Middle East & Africa: Shunt Reactor Market Size, By End-User, 2015–2022 (USD Million)
Table 52 Middle East & Africa: Shunt Reactor Market Size, By Application, 2015–2022 (USD Million)
Table 53 Middle East & Africa: Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 54 Saudi Arabia: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 55 South Africa: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 56 UAE: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 57 Kuwait: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 58 Qatar: Shunt Reactor Market Size, By Type, 2015–2022 (USD Thousand)
Table 59 Algeria: Shunt Reactor Market Size, By Type, 2015–2022 (USD Thousand)
Table 60 Nigeria: Shunt Reactor Market Size, By Type, 2015–2022 (USD Thousand)
Table 61 Rest of the Middle East & Africa: Shunt Reactor Market Size, By Type, 2015–2022 (USD Thousand)
Table 62 South America: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 63 South America: Shunt Reactor Market Size, By End-User, 2015–2022 (USD Million)
Table 64 South America: Shunt Reactor Market Size, By Application, 2015–2022 (USD Million)
Table 65 South America: Shunt Reactor Market Size, By Country, 2015–2022 (USD Million)
Table 66 Brazil: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 67 Argentina: Shunt Reactor Market Size, By Type, 2015–2022 (USD Million)
Table 68 Rest of South America: Shunt Reactor 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 Shunt Reactor 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 Shunt Reactor Market in 2016
Figure 8 The Oil-Immersed Segment is Expected to Lead the Shunt Reactor Market, By Type, During the Forecast Period
Figure 9 Shunt Reactor Market: Application Snapshot
Figure 10 Shunt Reactor Market: End-User Snapshot
Figure 11 Increased Demand for Electricity is Expected to Drive the Shunt Reactor 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 Shunt Reactor Market During the Forecast Period
Figure 15 The Variable Reactor Segment is Expected to Lead the Shunt Reactor Market in 2017
Figure 16 Market Dynamics for the Shunt Reactor Market
Figure 17 Shunt Reactor Market Share (Value), By Type, 2016
Figure 18 Shunt Reactor Market Share (Value), By End-User, 2016
Figure 19 Shunt Reactor Market Share (Value), By Application, 2016
Figure 20 Regional Snapshot: Rapid Growth in Developing Markets
Figure 21 Asia Pacific Shunt Reactor Market Snapshot
Figure 22 North American Shunt Reactor 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

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 shunt reactor 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 shunt reactor 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 reactor 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 shunt reactor 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 shunt reactor market during the forecast period.

Asia Pacific is currently the largest market for shunt reactors, 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

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