What is the current Shunt Reactor Market size?

The Shunt Reactor Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029) Read More

Who are the key players in Shunt Reactor Market?

Siemens AG, CG Power and Industrial Solutions Limited, Mitsubishi Electric Corporation, Fuji Electric Co. and Hitachi ABB Power Grids are the major companies operating in the Shunt Reactor Market. Read More

Which is the fastest growing region in Shunt Reactor Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Shunt Reactor Market?

In 2024, the Asia Pacific accounts for the largest market share in Shunt Reactor Market. Read More

What years does this Shunt Reactor Market cover?

The report covers the Shunt Reactor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shunt Reactor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Shunt Reactor Market - Growth & Analysis

Shunt Reactor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Shunt Reactor Market Size and it is segmented by Type of Product (Oil-Immersed Reactor and Air Core Dry Reactor), Form Factor (Fixed Shunt Reactor, and Variable Shunt Reactor), Rated Voltage (Less than 200kV, 200kV-400kV, Above 400kV), and Geography.

Shunt Reactor Industry Overview

The shunt reactor market is highly consolidated due to the dominance of few established shunt reactor manufacturers like ABB Ltd, Siemens AG, CG Power, and Industrial Solutions Limited, Mitsubishi Electric Corporation. The companies in this market provide similar equipment, and hence the competition among the players is intense. Innovation and better voltage protection solutions are expected to determine the dominance of major players in high-growth regions like Asia-Pacific over the forecast period. Significant partnerships and collaborations have been taking place in this industry to establish market leadership.

June 2020 - Siemens announced that Danish customer Semco Maritime has tapped it to provide the main electrical equipment for the electrical service platform (ESP) for the offshore wind project, Mayflower Wind LLC. The 1.6-GW project is situated in a central lease area near Massachusetts, United States. Siemen aims to supply components for Semco Maritime by 2022, and the contract includes delivery of three 275 kV / 265 MVAr shunt reactors.
April 2020 - ABB Ltd, through its Power Grids business, has signed a five-year framework contract with Colombia-based electric transmission company Interconexion Electrica SA ESP (ISA) for the supply of crucial power equipment for ISA's South American operations. The deal is estimated to be worth some USD 100 million (EUR 91.5m) and will cover the supply of shunt reactors, gas-insulated switchgear (GIS), air-insulated switchgear (AIS) equipment.