Air Core Fixed Shunt Reactor Market Size
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
19-23
x.x %
24-32
x.x %
CAGR (2024-2032)
6.9%
19-23
x.x %
24-32
x.x %
Forecast Year Value (2032)
USD 862.73 Million
19-23
x.x %
24-32
x.x %
Historical Data Period
2019-2023
Largest Region
Asia Pacific
Forecast Period
2024-2032
Get more details on this report -
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.
Industry
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 |
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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.
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