The demand for electricity is constantly increasing as various developing nations continue producing more electricity to meet their energy needs. This has given a rise to the demand of shunt reactors. A shunt reactor is an electrical device whose main job is to absorb the reactive power travelling in an electrical power grid system to increase the overall efficiency of the system. They are mainly installed at transmission line terminals or in the centre of transmission lines in a parallel configuration for reactive power compensation, minimisation of distribution losses and the regulation of voltage throughout the transmission system. They also act as devices able to reduce risk by protecting the system from sudden voltage spikes.
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Shunt reactors are directly connected to the power line or to the tertiary winding of a transformer. They absorb the excess reactive power present in the system due to abrupt voltage changes. All the power suppliers use power grids in their production system.
This market is extremely concentrated due to the presence of a few large shunt manufacturers who dominate the market. Since the differentiation and cost difference among products is quite low, the competition among these suppliers is extremely intense. Market leadership can only be achieved through innovation and hence these vendors try to improve their offerings continuously. The main factors responsible for the rise in the demand for shunt reactors are: –
Increasing need for grid stability
Increasing demand for electricity
Addition of high voltage transmission lines mainly in developing countries
Need for upgradation of older technologies
Need for energy efficient systems
However, uncertain market scenarios in some countries, increasing product life and high component costs are challenging the growth in this market.
Global shunt reactor market can be segmented on the basis of the type of reactor, end-user, phase, application and by geography.
On the basis of the type of reactor, the market is segmented into: –
On the basis of number of phases, the market is segmented into: –
On the basis of application, the market is segmented into: –
On the basis of users, the market is segmented into: –
Finally, on the basis of geography, the market is segmented into: –
Currently, North America accounts for the largest share of the shunt reactor market with a market share of 32.4%. But, it is estimated that APAC will be the biggest contributor to the revenues of shunt reactor market in the upcoming years. This is mainly due to the high demands in countries like China and India who are continuously seeking to make themselves more industrialized.
Developing nations are currently increasing their power generation capacity to satisfy the growing energy demands in the face of industrialization. To meet this increasing demands, a large number of thermal power plants and high voltage transmission lines are being set up. Due to this, the demand keeps rising forward and hence the future prospects seem really appealing.
Some of the key players in the market include ABB, CG Power and Industrial Solutions, TBEA HENGYANG TRANSFORMER and Siemens among others.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
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