(IT-NEWSWIRE.COM, June 19, 2017 ) “Shunt Reactor Market by Type (Oil-Immersed and Air-Core Dry Type), Application (Electrical Utilities, Industrial Verticals)& by Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa) - Global Trends & Forecast to 2019”, defines and segments the global shunt reactor market, with an analysis and forecast of the market size.
Shunt reactor market is expected to grow from an estimated $1.84 Billion in 2014 to $2.72 Billion by 2019, at a CAGR of 8.2% from 2014 to 2019.
Inevitability to reduce T&D losses has driven the electrical equipment manufacturers to come up device such as shunt reactors. These devices increase efficiency in overhead transmission lines, improve voltage levels at load and improve power quality. With the rise in global electricity demand, significant investments have been made in T&D infrastructure about $183 billion was made in 2013 alone. In addition to this refurbishment of ageing and outdated infrastructure especially in developed nations such as the U.S., U.K and Germany among others will boost the demand for shunt reactors in upcoming years.
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The growth of renewable energy sources is bringing fundamental alterations to conventional generation and transportation structures, and is placing new demands on the transmission network. Offshore wind technology and solar are gaining huge popularity in the global platform, with many projects in the pipeline. This will create a huge demand for shunt reactors especially in European and South Asian region.
Asia-Pacific region is expected to dominate the shunt reactor market, by value from 2014 to 2019:-
Asia-Pacific is projected to infuse major share of global investments towards augmentation and upgrade of T&D network by 2016. Nearly USD 99 billion of T&D infrastructural investment is expected in 2016 in the region. The increasing demand for shunt reactors in Asia-Pacific is attributed to the increasing investments in utilities, which in turn result in improvements in grid reliability and increase in the number of electricity supply plans.
Asia-Pacific dominated the shunt reactor market in 2013, closely followed by North America. Europe held the third position and is followed by Middle East & Africa and South America.
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Oil-immersed shunt reactor: Largest market by type:-
Oil-immersed shunt reactors held the largest market share, by value that is, 66% in 2013. Oil-immersed shunt reactors are designed for systems with a voltage profile of 72.5kV and above. These are connected directly to the high-voltage busbar/ transmission network. Oil-immersed shunt reactors can have either a single or three-phase design, and can either feature a gapped iron core or be core-less.
Electrical utilities: Largest end-user market:-
Electrical utilities are the key suppliers of electricity to commercial buildings, factories, and residential areas. The total amount invested in T&D across the globe in 2013 was around $181 Billion; approximately 10% of this was lost in T&D losses. The need to minimize such losses during energy transmission, particularly for electrical utilities, also drives the shunt reactors market.
Major players in the market include ABB Limited (Switzerland), Crompton Greaves (India), Alstom (France), Siemens AG (Germany), Zaporozhtransformator (Ukraine), Tebian Electric Apparatus Stock Company Ltd. (China), Hyundai Heavy Industries (Korea), Fuji Electric (Japan), Toshiba (Japan), and Mitsubishi Electric Corporation (Japan).
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