The shunt reactor market is estimated to reach USD 2.56 billion in 2017 and is projected to reach USD 3.19 billion by 2022, at a CAGR of 4.56% from 2017 to 2022.
The increasing demand for electricity, upgrading of the aging technology in developing countries, and the addition of high voltage transmission lines are the driving factors for the shunt reactor market. Developing nations are currently increasing their power generation capacity to satisfy the growing energy demands. Industrialization and urbanization are being majorly seen in the Asia Pacific region, which houses two of the fastest growing economies in the world, India and China.
The electric utilities end-users segment is projected to have the largest market during the forecast period. The demand for electricity is increasing as various developing nations are engaged in expanding their power generation capacity to provide electricity. The process of industrialization demands the ever-growing need for electricity. The countries are going to renewable energy sources such building power plants to cater the demand for electricity.
The Asia Pacific region is currently the largest market for shunt reactors, followed by North America and Europe. China accounted for a majority share in Asia Pacific in 2014 and is projected to grow at the highest CAGR from 2017 to 2022. The increasing demand for shunt reactors in Asia Pacific is due to the growing investments in utilities, which would result in improved grid reliability.
- Crompton Greaves
- Fuji Electric
- General Electric
- Mitsubishi Electric
- Nissin Electric
- Trench Group
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Shunt Reactor Market, By Type
7 Shunt Reactor Market, By End-User
8 Shunt Reactor Market, By Application
9 Shunt Reactor Market, By Region
10 Competitive Landscape
11 Company Profiles
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