PUBLISHER: Grand View Research | PRODUCT CODE: 1553942
PUBLISHER: Grand View Research | PRODUCT CODE: 1553942
The global shunt reactor market size was estimated at USD 2.66 billion in 2023 and is estimated to grow at a CAGR of 6.2% from 2024 to 2030. This growth is driven by increasing demand across various applications, particularly in power transmission and distribution systems. The surge is fueled by expanding electricity consumption globally, driven by industrialization, urbanization, and infrastructural development.
As the adoption of renewable energy sources, including solar and wind power, expands, their inherently variable nature introduces volatility into the system. Shunt reactors are critical in ensuring grid stability and delivering a reliable power supply by managing voltage fluctuations. Within high-voltage transmission networks, shunt reactors play a pivotal role in voltage regulation amidst varying load conditions. These reactors are strategically engaged and disengaged to provide the necessary reactive power compensation, aligning with the prevailing voltage demands.
Global Shunt Reactor Market Report Segmentation
This report forecasts revenue growth at global, country, and regional levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global shunt reactor market report based on type, phase, application, and region.