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Shunt Reactor Market: Global Industry Analysis and Opportunity Assessment, 2016-2026

Shunt Reactor Market: Global Industry Analysis and Opportunity Assessment, 2016-2026

A shunt reactor is an electrical device mainly used to absorb reactive power in an electrical power grid system. In a power transmission and distribution system, the voltage at the receiving end of electrical power is more than that at the origin or less than the voltage at origin due to long transmission distances, this difference in voltage is called reactive power. Shunt reactors are mainly installed at transmission line terminals or in the center of transmission lines in parallel configuration. This layout of installation of shunt reactors in the power grid system absorbs reactive power, minimises distribution losses and regulates voltage throughout the transmission system. Global sales of shunt reactors was valued at US$ 1,996.9 Mn in 2015, and is projected to increase 2.4X by the end of 2026 to be valued at U7$ 4,864.7 Mn. Global sales revenue is expected to register a CAGR of 8.6% over the forecast period.

Increasing demand for electricity is fuelling the growth of the global shunt reactor market

Key driving factors identified in the global shunt reactor market include expanding electrical distribution network on the backdrop of continually increasing demand for electricity, refurbishment of ageing coal-fired plants and ageing power infrastructure in developed economies, and emergence of microgrids and interconnection of local and regional grids. However, increasing product life and component costs can inhibit new product sales to some extent and act as a restraint in the global shunt reactor market.

Market Segmentation

By Voltage Range

By Product

By Phase

By Rating

By Application

By Region

Less than 200 KV

200-400 KV

Greater than 400 KV

Air-core Dry Type

Oil Immersed

Single Phase

Three Phase

Fixed Shunt Reactor

Variable Shunt Reactor


Residential

Industrial

North America

Latin America

Eastern Europe

Western Europe

APEJ

Japan

MEA

Oil-immersed shunt reactor segment to exhibit a strong growth

The oil-immersed shunt reactor segment accounted for 64.8% share of the global shunt reactor market in 2015. This segment is projected to remain dominant over the forecast period, with increasing Y-o-Y growth of 6.7% to 8.9% from 2016 to 2026.

Three phase shunt reactor segment expected to remain dominant over the forecast period

In terms of value and volume, the three phase shunt reactor segment dominated the global shunt reactor market in 2015. The segment is estimated to account for 58.3% market value share by the end of 2016. The segment is projected to remain dominant over the forecast period, with increasing Y-o-Y growth of 6.7% to 9.1% from 2016 to 2026. Increasing number of industrial establishments and growing demand for three phase electricity in manufacturing and assembling facilities are expected to play a major role in the growth of this segment. In terms of revenue growth, the single phase shunt reactor segment is projected to expand at a significantly higher rate than that of the three phase shunt reactor segment in the global shunt reactor market over the forecast period due to expanding electricity transmission and distribution to meet the demand for residential purposes across the globe.

Global shunt reactor market to exhibit a strong growth in developing economies like China and India

From a regional perspective, North America is estimated to account for the highest market value share of 32.4% in 2016. Sales revenue of shunt reactors in APEJ and Latin America is estimated to account for second (24.9%) and third largest shares (16.7%) respectively by 2016 end. Consumption of shunt reactors in APEJ is projected to grow at a higher Y-o-Y growth rate due to expanding power generation and distribution infrastructure to meet the increasing electrical energy demand majorly from industries based in China and India.

shunt reactor market

Geographic expansion and strategic investments are some of the key strategies adopted by prominent market players in the global shunt reactor market

ABB Ltd., General Electric (ALSTOM), Fuji Electric Co. Ltd., Toshiba Corporation, Siemens AG, Zaporozhtransformator PJSC, Nissin Electric Co. Ltd, and Hyosung Corporation are some of the leading companies operating in the global shunt reactor market. Strategic investments and acquisitions to strengthen revenue generation, geographic expansion through organic growth, and new product development and product support technologies are some of the strategies adopted by key market players to expand their market share.


1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Market Overview
4.1. Introduction
4.1.1. Market Definition
4.1.2. Market Taxonomy
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.3. Value Chain
4.4. Market Forecast
4.4.1. Market Size and Y-o-Y Growth
4.4.2. Absolute $ Opportunity
4.4.3. Market Volume Forecast
4.5. Market Trends
4.6. Regional Pricing Analysis (2014)
4.7. Drivers and Restraints Impact Analysis
5. Global Shunt Reactor Market Analysis and Forecast, By Product Type
5.1. Introduction
5.2. Global Shunt Reactor Market Size Forecast By Product Type
5.2.1. Basis Point Share Analysis By Product Type
5.2.2. Y-o-Y Growth Projections By Product Type
5.3. Air-Core Dry Type
5.3.1. Market Size Forecast and Y-o-Y Growth By Product Type
5.3.2. Absolute $ Opportunity
5.3.3. Market Volume Forecast
5.4. Oil Immersed
5.4.1. Market Size Forecast and Y-o-Y Growth By Product Type
5.4.2. Absolute $ Opportunity
5.4.3. Market Volume Forecast
5.5. Global Shunt Reactor Market Attractiveness Analysis By Product Type
6. Global Shunt Reactor Market Analysis and Forecast, By Phase
6.1. Introduction
6.2. Global Shunt Reactor Market Size Forecast By Phase
6.2.1. Basis Point Share Analysis By Phase
6.2.2. Y-o-Y Growth Projections By Phase
6.3. Single Phase
6.3.1. Market Size Forecast and Y-o-Y Growth By Phase
6.3.2. Absolute $ Opportunity
6.3.3. Market Volume Forecast
6.4. Three Phase
6.4.1. Market Size Forecast and Y-o-Y Growth By Phase
6.4.2. Absolute $ Opportunity
6.4.3. Market Volume Forecast
6.5. Global Shunt Reactor Market Attractiveness Analysis By Phase
7. Global Shunt Reactor Market Analysis and Forecast, By Rating
7.1. Introduction
7.2. Global Shunt Reactor Market Size Forecast By Rating
7.2.1. Basis Point Share Analysis By Rating
7.2.2. Y-o-Y Growth Projections By Rating
7.3. Fixed Shunt Reactor
7.3.1. Market Size Forecast and Y-o-Y Growth By Rating
7.3.2. Absolute $ Opportunity
7.3.3. Market Volume Forecast
7.4. Variable Shunt Reactor
7.4.1. Market Size Forecast and Y-o-Y Growth By Rating
7.4.2. Absolute $ Opportunity
7.4.3. Market Volume Forecast
7.5. Global Shunt Reactor Market Attractiveness Analysis By Rating
8. Global Shunt Reactor Market Analysis and Forecast, By Application
8.1. Introduction
8.2. Global Shunt Reactor Market Size Forecast By Application
8.2.1. Basis Point Share Analysis By Application
8.2.2. Y-o-Y Growth Projections By Application
8.3. Residential
8.3.1. Market Size Forecast and Y-o-Y Growth By Application
8.3.2. Absolute $ Opportunity
8.3.3. Market Volume Forecast
8.4. Industrial
8.4.1. Market Size Forecast and Y-o-Y Growth By Application
8.4.2. Absolute $ Opportunity
8.4.3. Market Volume Forecast
8.5. Global Shunt Reactor Market Attractiveness Analysis By Application
9. Global Shunt Reactor Market Analysis and Forecast, By Voltage Range
9.1 Introduction
9.2. Global Shunt Reactor Market Size Forecast By Voltage Range
9.2.1. Basis Point Share Analysis By Voltage Range
9.2.2. Y-o-Y Growth Projections By Voltage Range
9.3. Less than 200 kV
9.3.1. Market Size Forecast and Y-o-Y Growth By Voltage Range
9.3.2. Absolute $ Opportunity
9.3.3. Market Volume Forecast
9.4. 200-400 kV
9.4.1. Market Size Forecast and Y-o-Y Growth By Voltage Range
9.4.2. Absolute $ Opportunity
9.4.3. Market Volume Forecast
9.5. Greater than 400 kV
9.5.1. Market Size Forecast and Y-o-Y Growth By Voltage Range
9.5.2. Absolute $ Opportunity
9.5.3. Market Volume Forecast
9.6. Global Shunt Reactor Market Attractiveness Analysis By Voltage Range
10. Global Shunt Reactor Market Analysis, By Region
10.1. Introduction
10.1.1. Y-o-Y Growth Projections, By Region
10.1.2. Basis Point Share Analysis, By Region
10.2. Market Forecast By Region
10.2.1. North America Market Value Forecast
10.2.2. Latin America Market Value Forecast
10.2.3. Asia Pacific Excl. Japan Market Value Forecast
10.2.4. Western Europe Market Value Forecast
10.2.5. Eastern Europe Market Value Forecast
10.2.6. Middle East & Africa Market Value Forecast
10.2.7. Japan Market Value Forecast
10.3. Regional Attractiveness Analysis
11. North America Shunt Reactor Market Analysis
11.1. Introduction
11.1.1. Y-o-Y Growth Projections, By Country
11.1.2. Basis Point Share Analysis, By Country
11.1.3. Key Trends
11.2. North America Shunt Reactor Market Forecast
11.2.1. Market Size and Volume Forecast By Country
11.2.1.1. U.S.
11.2.1.2. Canada
11.2.2. Market Size and Volume Forecast By Product Type
11.2.2.1. Air-core Dry Type
11.2.2.2. Fixed Shunt Reactor
11.2.3. Market Size and Volume Forecast By Phase
11.2.3.1. Single Phase
11.2.3.2. Three Phase
11.2.4. Market Size and Volume Forecast By Rating
11.2.4.1. Fixed Shunt reactor
11.2.4.2. Variable Shunt Reactor
11.2.5. Market Size and Volume Forecast By Application
11.2.5.1. Residential
11.2.5.2. Industrial
11.2.6. Market Size and Volume Forecast By Voltage Range
11.2.6.1. Less than 200 kV
11.2.6.2. 200-400 kV
11.2.6.3.Greater than 400 kV
11.2.7. Market Attractiveness Analysis
11.2.7.1. By Country
11.2.7.2. By Product Type
11.2.7.3. By Phase
11.2.7.4. By Rating
11.2.7.5. By Application
11.2.7.6. By Voltage Range
11.2.8. Drivers & Restraints: Impact Analysis
12. Latin America Shunt Reactor Market Analysis
12.1. Latin America Shunt Reactor Market Forecast
12.1.1. Market Size and Volume Forecast By Country
12.1.1.1. Mexico
12.1.1.2. Brazil
12.1.1.3. Rest of LATAM
12.1.2. Market Size and Volume Forecast By Product Type
12.1.2.1. Air-core Dry Type
12.1.2.2. Fixed Shunt Reactor
12.1.3. Market Size and Volume Forecast By Phase
12.1.3.1. Single Phase
12.1.3.2. Three Phase
12.1.4. Market Size and Volume Forecast By Rating
12.1.4.1. Fixed Shunt reactor
12.1.4.2. Variable Shunt Reactor
12.1.5. Market Size and Volume Forecast By Application
12.1.5.1. Residential
12.1.5.2. Industrial
12.1.6. Market Size and Volume Forecast By Voltage Range
12.1.6.1. Less than 200 kV
12.1.6.2. 200-400 kV
12.1.6.3.Greater than 400 kV
12.1.7. Market Attractiveness Analysis
12.1.7.1. By Country
12.1.7.2. By Product Type
12.1.7.3. By Phase
12.1.7.4. By Rating
12.1.7.5. By Application
12.1.7.6. By Voltage Range
12.1.8. Drivers & Restraints: Impact Analysis
13. Eastern Europe Shunt Reactor Market Analysis
13.1. Eastern Europe Shunt Reactor Market Forecast
13.1.1. Market Size and Volume Forecast By Country
13.1.1.1. Poland
13.1.1.2. Russia
13.1.1.3. Rest of Eastern Europe
13.1.2. Market Size and Volume Forecast By Product Type
13.1.2.1. Air-core Dry Type
13.1.2.2. Fixed Shunt Reactor
13.1.3. Market Size and Volume Forecast By Phase
13.1.3.1. Single Phase
13.1.3.2. Three Phase
13.1.4. Market Size and Volume Forecast By Rating
13.1.4.1. Fixed Shunt reactor
13.1.4.2. Variable Shunt Reactor
13.1.5. Market Size and Volume Forecast By Application
13.1.5.1. Residential
13.1.5.2. Industrial
13.1.6. Market Size and Volume Forecast By Voltage Range
13.1.6.1. Less than 200 kV
13.1.6.2. 200-400 kV
13.1.6.3.Greater than 400 kV
13.1.7. Market Attractiveness Analysis
13.1.7.1. By Country
13.1.7.2. By Product Type
13.1.7.3. By Phase
13.1.7.4. By Rating
13.1.7.5. By Application
13.1.7.6. By Voltage Range
13.1.8. Drivers & Restraints: Impact Analysis

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