Air Core Fixed Shunt Reactor Market Size & Share, By Phase (Single Phase, Three Phase), End Use (Electric Utility, Renewable Energy), Regional Outlook, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Air Core Fixed Shunt Reactor Market was over USD 476.99 Million in 2023 and is likely to surpass USD 862.73 Million by end of the year 2032, growing at over 6.9% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 476.99 Million
• CAGR (2024-2032): 6.9%
• Forecast Year Value (2032): USD 862.73 Million
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The Air Core Fixed Shunt Reactor Market is expected to experience significant growth due to increasing demand for electricity and the expanding power sector. The growing emphasis on renewable energy sources such as wind and solar power is also driving the market. Additionally, the rising need for grid stability and reliability is fueling the demand for air core fixed shunt reactors.

Report Scope

Report Coverage	Details
Segments Covered	Phase, End Use
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Coil Innovation, GE, GETRA S.p.A., Hilkar, Hitachi Energy., HYOSUNG HEAVY INDUSTRIES, MindCore Technologies, NISSIN ELECTRIC Co.,Ltd., Phoenix Electric Corp., SGB SMIT, Shrihans Electricals Pvt.., Siemens Energy, TMC TRANSFORMERS MANUFACTURING COMPANY, Toshiba Energy Systems & Solutions

Industry Restraints:

On the other hand, the market faces restraints such as high initial investment costs associated with the installation of air core fixed shunt reactors. Moreover, lack of awareness about the benefits of these reactors among end-users is hindering market growth. These factors pose challenges for the adoption of air core fixed shunt reactors in the power sector.

Regional Forecast:

- The North America air core fixed shunt reactor market is expected to witness steady growth in the coming years, driven by increasing investments in renewable energy projects and growing demand for smart grid solutions in the region. The United States and Canada are the key countries contributing to the growth of the market in North America.

- The Asia Pacific region, particularly countries like China, Japan, and South Korea, is expected to dominate the global air core fixed shunt reactor market, with rapid industrialization and urbanization driving the demand for electricity infrastructure in these countries. The increasing focus on clean energy sources and the development of smart grid technologies are also contributing to the growth of the market in the region.

- In Europe, countries like the United Kingdom, Germany, and France are witnessing significant investments in upgrading their power infrastructure, which is driving the demand for air core fixed shunt reactors in the region. The emphasis on reducing carbon emissions and increasing the share of renewable energy sources in the energy mix is also expected to fuel the growth of the market in Europe.

Segmentation Analysis:

In terms of segmentation, the global air core fixed shunt reactor market is analyzed on the basis of Phase, End Use

Air Core Fixed Shunt Reactor Market

Single Phase:

The single phase segment of the air core fixed shunt reactor market is expected to witness steady growth due to the increasing demand for electricity in residential and commercial sectors. Single phase reactors are primarily used in distribution networks to improve power factor and voltage regulation. The rising investments in grid infrastructure development, particularly in developing economies, are driving the growth of the single phase reactor market.

Three Phase:

The three phase segment of the air core fixed shunt reactor market is projected to experience significant growth owing to the expanding industrial sector and the increasing adoption of renewable energy sources. Three phase reactors are essential components in transmission networks to improve system stability and reduce losses. The growing focus on grid modernization and the integration of renewable energy projects are driving the demand for three phase reactors in the market.

Electric Utility:

The electric utility segment is anticipated to dominate the end-use segment of the air core fixed shunt reactor market. Electric utilities are major consumers of reactors for voltage control, power factor correction, and grid stability. With the increasing emphasis on energy efficiency and grid reliability, electric utilities are investing in advanced reactor technologies to enhance their grid infrastructure and meet the growing electricity demand.

Renewable Energy:

The renewable energy segment is poised for significant growth in the air core fixed shunt reactor market due to the rising deployment of renewable energy projects such as wind and solar farms. Reactors play a crucial role in integrating renewable energy sources into the grid and ensuring smooth power flow. As countries aim to reduce carbon emissions and increase the share of renewables in their energy mix, the demand for reactors in the renewable energy sector is expected to surge.

Competitive Landscape:

Top Market Players:

1. ABB

2. Siemens

3. Crompton Greaves

4. Schneider Electric

5. Toshiba

6. General Electric

7. Mitsubishi Electric

8. Hyosung

9. Fuji Electric

10. Eaton

The competitive landscape in the Air Core Fixed Shunt Reactor Market is highly competitive with key players such as ABB, Siemens, Crompton Greaves, Schneider Electric, Toshiba, General Electric, Mitsubishi Electric, Hyosung, Fuji Electric, and Eaton dominating the market worldwide.