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Market Overview of Global Shunt Reactor market:
According to our latest research, the global Shunt Reactor market looks promising in the next 5 years. As of 2022, the global Shunt Reactor market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Shunt reactors are used in high voltage energy transmission systems to control the voltage during load variations. The shunt reactor working principle is, in an energy system, a shunt reactor works like an absorber for reactive power, so it increases the efficiency of the energy system. It is a compact device used to compensate for reactive power in high voltage transmission lines as well as in cable systems.
The epidemic will have a short-term impact on Shunt Reactor industry. The influence of COVID-19 on Shunt Reactor industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, commuting was hindered, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust. In addition, during the COVID-19 period, the logistics speed slowed down or even stopped, and the production of raw materials and equipment procurement and transportation
supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. The company's production is limited to some extent, and the production of related enterprises in the hardest hit areas is greatly affected. The strict lockdown mandates imposed by governments have restricted cross-border trade between countries, another factor proving to be detrimental for the Shunt Reactor market share. Also, it is expected that the product demand in end-user sectors could pick up following the uplift of the lockdown in numerous countries.
Variable shunt reactor is an economic means to improve voltage stability and power quality under time-varying load conditions
The transmission system is affected by daily or seasonal load changes. As the load changes with time, the variable shunt reactor allows customers to continuously adjust the compensation. They make the switching of fixed rated reactor unnecessary, thus eliminating harmful voltage step. Whether in today's operation or in the future power grid, variable reactor can be used as needed. In addition, the variable shunt reactor can interact with other systems such as static var compensators (SVCs) and high voltage direct current (HVDC) link to optimize system operation and maximize dynamic capacity during failures.
Therefore, variable shunt reactor is an economic means to improve voltage stability and power quality under time-varying load conditions. These factors will promote the growth of Shunt Reactor industry demand.
Implementation of smart grid technology
Modernizing the grid through the use of cutting-edge technologies, equipment, and controls that communicate and work together to deliver electricity more reliably and efficiently can greatly reduce the frequency. Variable shunt reactors provide regulation capability and, thereby, system benefits in terms of power quality, optimized grid operation, and the possibility of interacting with other regulating devices. Hence, smart grid technology adoption will provide a growing opportunity to shunt reactors to increase their market size.
Company Overview:
Hitachi Energy, GE, Siemens Energy were the top 3 players in the Brazil Shunt Reactor market in 2022, taking up a market share of 77.27% together.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. Hitachi Energy serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. In 2020, Hitachi and ABB's Power Grids' business came together in a joint venture to create a new global leader in pioneering and digital technologies.
General Electric Company (GE) is an American multinational conglomerate incorporated in New York State and headquartered in Boston. Until 2021, the company operated in sectors including aviation, power, renewable energy, digital industry, weapons manufacturing, locomotives, and venture capital and finance, but has since divested from several areas, now primarily consisting of the first four segments.
Segmentation Overview:
Among different product types, Oil-Immersed Reactor segment is anticipated to contribute the largest market share in 2027.
Oil-Immersed Reactor
The two design configurations of oil-immersed shunt reactors are coreless type and gapped iron-core type. Both designs are subject to low-frequency longtime constant currents during de-energizing, determined by the parallel combination of the reactor's inductance and line capacitance. However, the gapped iron-core design is subject to more severe energizing inrush than the coreless type.
Air Core Dry Reactor
Air core dry reactor generally are limited to voltages through 34.5 kV and are usually applied on the tertiary of a transformer which is connected to the transmission line being compensated. The reactors are of the air-core (coreless) type, open to the atmosphere, suitable for indoor or outdoor application. Natural convection of ambient air is generally used for cooling the unit by arranging the windings so as to permit free circulation of air between layers and turns.
Application Overview:
By application, the Electric Utilities segment occupied the biggest share from 2017 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Shunt Reactor market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Shunt Reactor Market Report:
Market Size Estimates: Shunt Reactor market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Shunt Reactor market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Shunt Reactor market
Segment Market Analysis: Shunt Reactor market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Shunt Reactor market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Shunt Reactor Market: Revenue and sales volume of major countries in each region
Shunt Reactor Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Shunt Reactor market in major regions.
Shunt Reactor Industry Value Chain: Shunt Reactor market raw materials & suppliers, manufacturing process, distributors, downstream customers
Shunt Reactor Industry News, Policies & Regulations
Key players in the global Shunt Reactor market are covered in Chapter 12:
Siemens Energy
TBEA Co. Ltd
Hitachi Energy
GE
In Chapter 2 and Chapter 15.1, based on types, the Shunt Reactor market from 2018 to 2028 is primarily split into:
Oil-Immersed Reactor
Air Core Dry Reactor
In Chapter 3 and Chapter 15.2, based on applications, the Shunt Reactor market from 2018 to 2028 covers:
Electric Utilities
Industrial Verticals
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Shunt Reactor market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028