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Shunt Reactor Market Industry Analysis, Size, Share, Growth, Trends and Forecast 2020-2030 | Future Market Insights

2020 Analysis and Review: Shunt Reactor Market by Phase – Single Phase and Three Phase for 2020-2030

Dubai, United Arab Emirates - May 11, 2021 /MarketersMedia/

According to a new market study by Future Market Insights (FMI), the global shunt reactor market is forecasted to witness substantial growth in terms of value between 2016 and 2026.

The growth of the shunt reactor market is primarily driven to the growth of the surging demand for energy across the world. A shunt reactor is majorly used for absorbing reactive power in electrical power grid systems to ensure a safe power supply by maintaining optimal levels of voltage transmission. As the need for electric energy continues to increase in both residential and industrial sectors, shunt reactors will find remarkable adoption.

To Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-609

Consumption of primary energy, which stood at 395 exajoules in 2000, rose to 576 exajoules in 2019 and is expected to proliferate in the years to come. The rising energy consumption is directly shaping the growth of the shunt reactor market, driving the demand for the products.

Rising awareness regarding alarming levels of carbon footprint has been a major attribute to the shift in the energy sector towards renewable sources. This is expected to positively influence the growth of the market as manufacturers customize products based on the source.

"Owing to the plummet in the energy consumption in the industrial sector due to Covid-19, manufactures are redirecting their efforts to the residential sector to sail through the pandemic period" opines FMI analyst.

Shunt Reactor Market - Key Takeaways

The global shunt reactor market is forecasted to progress at an impressive CAGR of 8.6% between 2016 to 2026.
Among products, air-core dry reactors are expected to remain highly sought-out owing to sprouting adoption in research institutions and electrical test laboratories.
Based on the phase, the three-phase segment will account for the majority of the market value, while the single phase shunt reactor segment will rise in value at a CAGR of 8.9% through the forecast period.
On the basis of application, industrial applications will continue to channel the majority of revenue with the residential sector poised for robust growth.

Shunt Reactor Market - Key Trends

Owing to mounting production and component expenses, market players are now focusing on developing affordable yet effective products to transmute the restrain into growth opportunities.
Growing demand for modern transmission and distribution networks coupled with enhancements in energy infrastructure are bestowing lucrative opportunities to market players.

For More Details, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-609

Shunt Reactor Market - Regional Analysis

North America accounted for 32.6% of the market share in 2016 and will remain at the forefront of market growth during the forecast period owing to the growing consumption of primary energy.
Asia Pacific, being one of the most densely populated regions, is also a prominent regional market for shunt reactors.
Asia Pacific is poised to register stupendous growth in the forthcoming years backed by the presence of a flourishing industrial sector.

Shunt Reactor Market - Competitive Landscape

Some of the major players operating in the market include ABB Ltd., Fuji Electronic Co., Ltd., General Electric, Hyosung Corporation, Nissin Electric Co., Ltd., Zaporozhtransformator PJSC, Siemens AG, and Toshiba Corporation. Market players are focusing on launching innovative products to stay afloat amid competition.

In March 2015, ABB developed a new kind of capacitor device with high efficiency and minimal thermal losses.

Shunt Reactor Market - Taxonomy

Product:

Air-core dry Type
Oil Immersed

Phase:

Single Phase
Three Phase

Rating:

Fixed Shunt Reactor
Variable Shunt Reactor

Application:

Residential
Industrial

Regions:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

Get Valuable Insights into the Shunt Reactor Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global shunt reactor market, presenting historical demand data and forecast statistics for the period from 2016-2026. The study divulges compelling insights on the shunt reactor market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.

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Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/shunt-reactor-market

Source URL: https://marketersmedia.com/shunt-reactor-market-industry-analysis-size-share-growth-trends-and-forecast-2020-2030-future-market-insights/89013383

Source: MarketersMedia

Release ID: 89013383

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