Shunt Reactor Market Scope
A shunt reactor absorbs the reactive power and plays a vital role in increasing the energy efficiency of a power transmission system. The shunt reactor are the same as the power transformer but it has only one winding per phase as compared to the power transformer. The shunt reactor market has high growth prospects owing to a growing focus on reducing the loss of power during distribution and transmission. Development of smart grid and power generation technologies propelling market growth. Moreover, the global shunt reactor market has significant growth prospects in emerging economies in such as India, China, and others.
According to AMA, the Global Shunt Reactor market is expected to see growth rate of 4.48%
A number of players are present in the market hence the fragmented nature of the market. Market players are focusing on technological developments in the distribution and transmission network. In addition. Increasing demand from the emerging economies expected to generate lucrative opportunities for the companies involved in the shunt reactor market. Research Analyst at AMA estimates that Japan Manufacturers will contribute to the maximum growth of Global Shunt Reactor market throughout the predicted period.
General Electric (United States), Siemens (Germany), ABB (Switzerland), Fuji Electric (Japan), Crompton Greaves (India), Zaporozhtransformator (Ukraine), Toshiba (Japan), Mitsubishi Electric (Japan), Nissin Electric (Japan) and TBEA (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Trench Group (Canada) and Hilkar (Turkey).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Shunt Reactor market by Type (Oil-Immersed and Air-Core), by Application (Variable Reactors and Fixed Reactors) and Region with country level break-up.
On the basis of geography, the market of Shunt Reactor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Increasing Applications in the Different Renewable Energy Systems
- Technological Development in Power Generation Technologies
Market Drivers
- Emphasizing On Modernization of Distribution and Transmission Network
- Increasing Demand for Electricity
Opportunities
- Increasing Focus on Upgradation of Distribution and Transmission Network
- Rising Demand from the Developing Economies
Restraints
- Availability of Low-Quality Products
- Economic Uncertainty in Some Countries
Challenges
- Lack of Awareness in the Emerging Economies
Key Target Audience
Equipment Manufacturing Companies, Raw Material Suppliers, Transmission and Distribution Utilities, Regulatory Authorities, Government and Industry Associations, Construction Industry, Manufacturing Industry and Others