Shunt reactors are used to augment the power and energy system proficiency as they absorb and recompense for the reactive power in cables and long high-voltage transmission lines. It can be directly linked to the power line or the tertiary winding of a three-winding modifier. In high-voltage energy transmission systems, shunt reactors are engaged to keep the voltage stable throughout the load changes. Traditional shunt reactors have a fixed rating and are either enduringly connected to the power line or switched in and out depending on the requirement.
According to the report analysis, ‘Shunt Reactor Market: Current Analysis and Forecast (2021-2027)’ states that the growing investments in power transmission and distribution networks coupled with the increasing augmentation and modernization of transmission and distribution networks around the globe, are projected to propel the market.
Based on phase, the shunt reactor market is classified into Single Phase and Three Phase. Amongst these, the three-phase category is predicted to control a significant share in the recent past years. A three-phase shunt reactor is generally linked to a high-voltage electrical bus system for capacitive reactive power compensation of the power system and to control dynamic over voltage happening in the system owing to load rejection.
On the basis of end-user, the market is classified into electric utilities and industrial verticals. During the forecast duration, the electric utilities category will control a dominant position in the market. The requirement for electricity is growing as several developing nations are engaged in enlarging their power generation capacity, owing to the continuous growth in population and urbanization rate. Thus, the electric utilities category is predicted to observe tremendous growth during the review period.
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For a better understanding of the market implementation of Shunt Reactor Industry, the market is analyzed reliant on its worldwide existence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. During the recent past years, Asia-Pacific registered the shunt reactor market on account of growing utilization of shunt reactors for electric utilities and industry vertical applications. Shunt reactors propose the high efficiency and are utilized in places where high voltage and minimal losses are critical parameters. In addition, the surging consumption of electricity across the developing countries such as India and China are escalating the implementation of smart grids, coupled with the growing need to upgrade prevailing energy and power infrastructure, has positively propelled the market requirement for shunt reactors.
The growing demand for electricity, advancement of the aging technology in developing countries, and the addition of high voltage transmission lines are the propelling aspects for the shunt reactor market. Developing nations are presently increasing their power generation capacity to satisfy the augmenting the energy demands. Industrialization and urbanization are being majorly seen in the Asia Pacific region, which houses two of the fastest increasing economies in the world, India and China.
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Ankur Gupta, Head Marketing & Communications