A shunt reactor can be described as an electrical device which can absorb reactive power in the power grid system. It is seen at the transmission line terminals. This reactor reduces distribution losses and regulates voltage through the transmission system. Modern transmission and distribution networks propel the growth of the Shunt Reactor Market during the forecast period.
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According to MarketIntelReports' “Global Shunt Reactor Market 2017-2021”:
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The electrical shunt is cost effective and meets the demand for power generation in high voltage power transmission systems.
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Smart grid technologies will also propel the growth of the market during the forecast period.
Scope & Regional Forecast of the Shunt Reactor Market
Growth of the electrical distribution network will push the demand for the Shunt Reactor Market during the forecast period. But increased product life and component costs can restrain the growth of the shunt reactor switching.
The oil immersed shunt reactor dominated the market in 2015 due to increasing number of industrial establishments.
North America is expected to have a major share in the parallel reactor followed by Asia Pacific and Latin America. The demand from the distribution infrastructure will enhance the market growth in the region.
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The three phase shunt circuit breaker is expected to have a high growth due to increasing demand from three phase electricity in the manufacturing facilities. Application of reactor switching in different renewable energy systems will also boost the growth of the magnetic shunt transformer.
Refurbishment of ageing coal fired plants in the developed regions is an asset for the growth of the industry in the coming years. Emergence of microgrids and the internconnection of the local and regional grids are also major trends.
Segmentations & Key Players Involved in the Shunt Reactor Market
The Shunt Reactor Market can be broken down into various segments as follows:
- Region- Americas, APAC, EMEA.
Some of the key players involved in the Shunt Reactor Market are as follows:
- Beijing Power Equipment Group (BPEG)
• Fuji Electric
• General Electric
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