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LONDON, GREATER LONDON, UNITED KINGDOM, March 4, 2025 /EINPresswire.com/ -- Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
The shunt reactor circuit global market report reveals robust growth trends in the global shunt reactor circuit market. It is poised to grow from $2.45 billion in 2024 to $2.64 billion in 2025, boasting a compound annual growth rate CAGR of 7.5%. Factors such as increasing power quality concerns, rapid urbanization, expansion of data centers, rising use of electric vehicles, proliferating electrification projects, and the growth of nuclear power plants have significantly contributed to this surge in the historic period.
What Does The Future Look Like For The Shunt Reactor Circuit Market?
The Shunt Reactor Circuit Market is predicted to experience further growth in the coming years, with its value projected to reach $3.48 billion in 2029, at a CAGR of 7.2%. The growth in the forecast period is expected to be driven by initiatives to reduce energy loss in power transmission, a rising focus on grid reliability, the expansion of electricity access to remote and rural areas, government policies advocating energy infrastructure development, and increasing industrial automation. Furthermore, the adoption of digitalization in power systems, the use of artificial intelligence AI in grid management, the growth of green and sustainable energy solutions, the establishment of microgrids, and the implementation of IOT-enabled shunt reactors also mark significant trends to watch in the forecast period.
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What Is Driving The Growth Of The Shunt Reactor Circuit Market?
A key driver propelling the growth of the shunt reactor circuit market is the expanding adoption of renewable energy. Hailing from natural sources like sunlight and wind, renewable energy is continually replenished and harnessed to generate power sustainably. Renewable energy adoption is primarily motivated by factors such as growing environmental concerns, the pursuit of sustainable solutions, and government incentives aimed at curbing greenhouse gas emissions. In renewable energy systems, shunt reactor circuits play a crucial role in stabilizing voltage levels and controlling reactive power in long transmission lines. This facilitates the effective and reliable incorporation of renewable energy sources into the grid. A case in point is the evidence from the European Environment Agency, a Denmark-based government body. It reported that the share of energy consumption derived from renewable sources in the European Union EU increased from 21.9% in 2021 to 23% in 2022.
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Which Companies Are Leading The Shunt Reactor Circuit Market?
The shunt reactor circuit market is dominated by significant players such as Hitachi Energy Ltd., Siemens AG, General Electric Company, Mitsubishi Electric Corporation, ABB Ltd., Toshiba Corporation, Eaton Corporation plc, Alstom SA, Fuji Electric Co. Ltd., WEG Industries, Bharat Heavy Electricals Limited BHEL, Hyosung Heavy Industries, HD Hyundai Electric Co. Ltd., Nissin Electric Co. Ltd., S&C Electric Company Inc., TRENCH Group, Crompton Greaves Consumer Electricals Ltd., ENTES Elektronik., SGB-SMIT Group, GBE SpA, TMC Transformers Manufacturing, Chess Controls Inc, Hilkar, Shrihans Electricals Pvt. Ltd., GETRA S.p.A. These companies have been making significant strides in the market to maintain their competitive edge.
What Are The Emerging Marketing Trends In Shunt Reactor Circuit Market?
An emerging trend in the market is the growing focus of major companies on installing variable shunt reactors to boost the stability and efficiency of power grids. These reactors can dynamically manage reactive power and voltage levels, enhancing the stability and efficiency of grid systems. Notably, in April 2022, Adani Electricity Ltd., an India-based electric utility company, installed a 220 kV variable shunt reactor at their Gorai substation in Mumbai, India. This investment in the Gorai substation underscores AEML's commitment to infrastructural advancement and optimization of grid operations to meet burgeoning energy demands.
How Is The Shunt Reactor Circuit Market Segmented?
1 By Type: Oil-Immersed; Air-Core
2 By Application: Variable; Fixed
3 By End-User: Electric Utilities; Industrial Vertical
Sub-segments include:
1 By Oil-Immersed: Single-Phase Oil-Immersed Shunt Reactors; Three-Phase Oil-Immersed Shunt Reactors; Natural Cooling Oil-Immersed Reactors
2 By Air-Core: Single-Phase Air-Core Shunt Reactors; Three-Phase Air-Core Shunt Reactors; Non-Magnetic Air-Core Reactors
What Are The Regional Insights Of The Shunt Reactor Circuit Market?
The Asia-Pacific region was the leading region in the shunt reactor circuit market in 2024. Besides, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa also present significant opportunities for market growth.
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