Global Shunt Reactor Circuit Price 2025, Forecast To 2034
12 Mar, 2025
What Does the Historical and Current Shunt Reactor Circuit Market Size Trend Indicate?
The shunt reactor circuit market has seen considerable growth due to a variety of factors.
• In recent times, the shunt reactor circuit market has experienced significant growth. It is projected to expand from a value of $2.45 billion in 2024 to $2.64 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.5%.
This robust growth during the historical period can be ascribed to factors such as escalating power quality issues, swift urbanization, the proliferation of data centers, the increasing adoption of electric vehicles, broadening electrification initiatives, and growth in nuclear power plant expansion.
How Will the Shunt Reactor Circuit Market Size Evolve over the Forecast Period?
The shunt reactor circuit market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the shunt reactor circuit market are optimistic as it is forecasted to witness robust growth in the coming years. The market is set to expand to an impressive valuation of $3.48 billion by 2029, escalating at a compound annual growth rate (CAGR) of 7.2%.
The projected growth during this period can be ascribed to efforts towards minimising energy wastage in power transmission, an increasing emphasis on grid reliability, broadening availability of electricity in remote and rural locations, government-backed policies that support energy infrastructure development, and a rising trend towards industrial automation. Predominant trends for this forecast period include the incorporation of digitalisation in power systems, application of artificial intelligence (AI) for grid management, adoption of green and environment-friendly energy solutions, use of microgrids, and the implementation of IOT-enabled shunt reactors.
Which Key Drivers Are Propelling Th Shunt Reactor Circuit Market's Growth?
The shunt reactor circuit market is anticipated to expand with the escalating adoption of renewable energy. Renewable energy, which emanates from perpetually replenished natural sources like sunlight and wind, serves as a sustainable way to generate power. Increasing environmental concerns, the search for sustainable solutions, and government incentives aimed at minimizing greenhouse gas emissions are influencing the adoption of renewable energy. Shunt reactor circuits play a vital role in renewable energy systems by stabilizing voltage levels and managing reactive power in long transmission lines, enabling reliable and effective integration of renewable energy sources into the grid. The European Environment Agency, a governmental agency based in Denmark, reported in March 2024 that there was an increase in energy generated from renewable sources in the European Union (EU), with 23% in 2022, a rise from 21.9% in 2021. Consequently, the augmentation in renewable energy adoption propels the growth of the shunt reactor circuit market.
What Key Areas Define The Segmentation Of The Global Shunt Reactor Circuit Market?
The shunt reactor circuit market covered in this report is segmented –
1) By Type: Oil-Immersed, Air-Core
2) By Application: Variable, Fixed
3) By End-User: Electric Utilities, Industrial Vertical
Subsegments:
1) By Oil-Immersed: Single-Phase Oil-Immersed Shunt Reactors, Three-Phase Oil-Immersed Shunt Reactors, Natural Cooling Oil-Immersed Reactors
2) By Air-Core: Single-Phase Air-Core Shunt Reactors, Three-Phase Air-Core Shunt Reactors, Non-Magnetic Air-Core Reactors
How Are Emerging Trends Reshaping The Dynamics Of The Shunt Reactor Circuit Market?
Top corporations in the shunt reactor circuit market are directing their efforts towards the installation of variable shunt reactors. These actions are targeted at improving the stability and effectiveness of power grids through active management of reactive power and voltage levels. These adjustable shunt reactors are high-tech electrical units built to actively manage and stabilize voltage levels in power transmission systems. This is done by modifying reactive power compensation in real-time, guaranteeing improved stability and effectiveness of the grid. For example, Adani Electricity Ltd., an electric utility firm based in India, set up a 220 kV variable shunt reactor at their Gorai substation in Mumbai, India in April 2022. The setup at the Gorai substation demonstrates AEML’s pledge to enhance its infrastructure and fine-tune grid operations to correspond with increasing energy requirements whilst ensuring constant service delivery. This leads to a more dependable and efficient power supply and reduces interruptions, thereby enhancing the overall functionality of the electrical network.
Who Are the Key Players in the Shunt Reactor Circuit Market?
Major companies operating in the shunt reactor circuit market are include:
• Hitachi Energy Ltd.
• Siemens AG
• General Electric Company
• Mitsubishi Electric Corporation
• ABB Ltd.
• Toshiba Corporation
• Eaton Corporation plc
• Alstom SA
• Fuji Electric Co. Ltd.
• WEG Industries
• Bharat Heavy Electricals Limited (BHEL)
• Hyosung Heavy Industries
• HD Hyundai Electric Co. Ltd.
• Nissin Electric Co. Ltd.
• S&C Electric Company Inc.
• TRENCH Group
• Crompton Greaves Consumer Electricals Ltd.
• ENTES Elektronik.
• SGB-SMIT Group
• GBE SpA
• (TMC )Transformers Manufacturing
• Chess Controls Inc
• Hilkar
• Shrihans Electricals Pvt. Ltd.
• GETRA S.p.A.
What Is The Most Dominant Region In The Shunt Reactor Circuit Market?
Asia-Pacific was the largest region in the shunt reactor circuit market in 2024. The regions covered in the shunt reactor circuit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.