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Shunt Reactor Market Worth $2.72 Billion by 2019
The report "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. The 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.
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Given the improvements in transmission and distribution (T&D) infrastructure around the world, the demand for shunt reactors has increased. A shunt reactor is a compact and cost-effective device which can increase the energy efficiency in overhead lines, improve voltage levels at low load, and improve power quality. It is highly feasible for cable lines and renewable energy. Shunt reactors, therefore, play a vital role in decreasing the power losses in a T&D network.
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Growth in T&D infrastructure will drive the demand for shunt reactor devices. Significant investments have been made in T&D infrastructure about $183 billion in 2013. The need to refurbish ageing and outdated infrastructure in certain developed nations also drives the market for shunt reactors. Investments in solar and wind energy are expected to be potential drivers for shunt reactors in the next five years.
The report forecasts the market size, in terms of value, of the Shunt Reactor Market, including types of shunt reactors and regions such as North America, South America, Asia-Pacific, Europe, and Middle East & Africa. The Shunt Reactor Market is analyzed on the basis of end-users, which comprise electrical utilities and industrial verticals. 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).
Asia-Pacific: Leading market for shunt reactors
Asia-Pacific dominated the Shunt Reactor Market in 2013, closely followed by North America. The increasing demand for shunt reactors in Asia-Pacific is attributed to the increasing investments in utilities, which in turn, results in improvements in grid reliability and an increase in the number of electricity supply plans. China dominates the market for shunt reactors in the Asia-Pacific region, owing to increased investments in the transmission sector, which are expected to reach $75.5 billion in 2015. These investments are driven by the considerable demand for electricity. The market reforms in the country are encouraging even private participants to invest. Europe held the third position in terms of market size; it was followed by Middle East & Africa and South America.
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 as an end-user: 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.
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News Release: Shunt Reactor Market Worth $2.72 Billion by 2019
Submitted on: January 12, 2017 09:09:48 AM
Submitted by: andraw
On behalf of: www.prnewswire.com/news-releases/shunt-reactor-market-worth-272-billion-by-2019-506142741.html