How large is the shunt reactor circuit market, and what is its growth trajectory?
The shunt reactor circuit market size has grown strongly in recent years. It will grow from $2.45 billion in 2024 to $2.64 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing power quality concerns, rapid urbanization, growth of data centers, growing use of electric vehicles, expanding electrification projects, and expansion of nuclear power plants.
The shunt reactor circuit market size is expected to see strong growth in the next few years. It will grow to $3.48 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to a focus on reducing energy loss in power transmission, growing focus on grid reliability, expansion of electricity access to remote and rural areas, government policies supporting energy infrastructure development, and increasing industrial automation. Major trends in the forecast period include digitalization in power systems, artificial intelligence (AI) in grid management, green and sustainable energy solutions, microgrids, and the adoption of IOT-enabled shunt reactors.
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What are the key forces behind the shunt reactor circuit market’s growth in recent years?
The growing renewable energy adoption is expected to propel the growth of the shunt reactor circuit market going forward. Renewable energy comes from natural sources such as sunlight and wind that are continually replenished and used to generate power sustainably. Renewable energy adoption is attributed to increasing environmental concerns, sustainable solutions, and government incentives aimed at reducing greenhouse gas emissions. In renewable energy systems, shunt reactor circuits help stabilize voltage levels and control reactive power in lengthy transmission lines, facilitating the effective and dependable integration of renewable energy sources into the grid. For instance, in March 2024, according to the European Environment Agency, a Denmark-based government agency, in 2022, 23% of the energy consumed in the European Union (EU) was generated from renewable sources, up from 21.9% in 2021. Therefore, the growing renewable energy adoption drives the shunt reactor circuit market.
What are the major segments of the shunt reactor circuit market?
The shunt reactor circuit market covered in this report is segmented –
1) By Type: Oil-Immersed; Air-Core
2) By Application: Variable; Fixed
3) By End-User: Electric Utilities; Industrial Vertical
Subsegments:
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
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Which companies dominate the shunt reactor circuit market?
Major companies operating in the shunt reactor circuit market are 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.
What major trends will shape the shunt reactor circuit market during the forecast period?
Major companies operating in the shunt reactor circuit market are focusing on installing variable shunt reactors to enhance the stability and efficiency of power grids by dynamically managing reactive power and voltage levels. Variable shunt reactors are advanced electrical devices designed to dynamically control and stabilize voltage levels in power transmission systems by adjusting reactive power compensation in real-time, ensuring enhanced grid stability and efficiency. For instance, 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. The installation at the Gorai substation underscores AEML’s commitment to advancing its infrastructure and optimizing grid operations to meet growing energy demands and ensure consistent service delivery. This contributes to a more reliable and efficient power supply, minimizing disruptions and improving the overall performance of the electrical network.
What are the key regional dynamics of the shunt reactor circuit market, and which region leads in market share?
Asia-Pacific was the largest region in the shunt reactor circuit market in 2024. The regions covered in the shunt reactor circuit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Shunt Reactor Circuit Market Report 2025 Offer?
The shunt reactor circuit market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A shunt reactor circuit is an electrical device used in power systems to absorb reactive power and stabilize voltage levels. It consists of an inductor connected in parallel with the power line, which helps to compensate for the capacitive reactance of long transmission lines. By absorbing excess reactive power, the shunt reactor maintains voltage stability and improves the efficiency of power transmission.
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