The increasing demand for electricity and the growing emphasis on improving grid efficiency are major growth drivers for the utility-based shunt reactor market. As countries around the world continue to invest in upgrading their power infrastructure, the need for shunt reactors to stabilize voltage levels and enhance power factor correction will only increase. Additionally, the rise in renewable energy integration and the development of smart grids are expected to further boost demand for shunt reactors.
Industry
Report Coverage | Details |
---|---|
Segments Covered | Phase, Insulation, Product |
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 | GE, Siemens Energy, Toshiba Energy Systems & Solutions, CG Power & Industrial Solutions., Hitachi Energy., HYOSUNG HEAVY INDUSTRIES, TMC TRANSFORMERS MANUFACTURING COMPANY, NISSIN ELECTRIC Co.,Ltd., Fuji Electric, GBE S.p.A, WEG, HICO America, SGB SMIT, GETRA S.p.A., Shrihans Electricals Pvt.. |
The high initial investment costs and the complexity of integrating shunt reactors into existing power systems act as major restraints for the market. The substantial capital required for purchasing and installing shunt reactors can deter some utilities from investing in these devices. Moreover, the technical challenges associated with retrofitting shunt reactors into aging power grids can present obstacles for market growth.