An Incisive, In-depth Analysis on the Shunt Reactor Market
This study offers a comprehensive, 360 degree analysis on the Shunt Reactor market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Shunt Reactor market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Power Transmission Sector is Primary Contributor in the Growth of Global Shunt Reactor Market
A shunt reactor is an electrical device used mainly for the purpose of absorbing reactive power in an electrical power grid system. In a power transmission & distribution system, the voltage at the receiving end of electrical power is more than the voltage at the origin or less than the voltage at origin due to long transmission distances, this difference in voltage is called as a reactive power. Shunt reactors are mainly installed at transmission line terminals or in the center of transmission lines in parallel configuration.
Shunt reactors generally prevents over voltages that happen when the transmission line is lightly loaded. In these lightly loaded lines, shunt reactors work as a voltage controllers or as voltage regulators.
Research Institutes and Laboratories are preferably using Air-Core Dry Shut Reactors in Global Shunt Reactors Market
In this report, FMI has segmented the global shunt reactor market on the basis of product, phase, rating, application, and region. By product, the shunt reactor market is sub-segmented into air-core dry type and oil immersed. By phase, the global shunt reactor market is segmented into single phase and three phase. On the basis of rating, the global shunt reactor market has been segmented into fixed shunt reactor and variable shunt reactor. On the basis of application, the global shunt reactor market has been segmented into residential and industrial.
The air-core dry sub-segment is significantly expected to contribute to the growth of the global shut reactor market, owing to increasing use of these devices in research institutions and electrical test laboratory. The other benefits of air-core dry type shunt reactors are that they are maintenance free and have no fire hazards. Due to this factor, air-core dry sub-segmented is immensely contributing in the growth of global shunt reactor market.
The Single Phase Shut Reactors are expected to dominate the Global Shunt Reactor Market, In terms of Growth Perspective
The single phase shunt reactors segment is expected to register value and volume CAGRs of 8.9% and 7.4%, respectively, during the forecast period in global shunt reactor market. In terms of value and volume, the three phase shunt reactors segment dominated the global shunt reactors market in 2015.
At the global level, emergence of microgrid and interconnection of local and regional grids is expected to drive the growth of the global shunt reactor market. Due to variance in load structure and power generation, the demand for shunt reactors has increased in transmission and distribution networks and contributed in the growth of global shunt reactor market.
Furthermore, on the basis of geography, North America is expected to be the dominant regional market for shunt reactors, in terms of both value and volume, due to increasing demand from modern electricity transmission infrastructure and distribution networks. Moreover, in North America the stakeholders of energy market are focusing on improving the infrastructure to facilitate transmission and distribution of electricity, hence contributing significantly in the growth of shunt reactor market.
Increasing Component Cost is expected to restrict the Growth of the Global Shut Reactor Market
While the global shunt reactor market is witnessing significant growth, increasing component cost is expected to restrict the growth of the market in the near future. Rate of replacement and refurbishment of shunt rector is declining, which is a good indicator for end-users in global shunt reactor market. However, supply-side vendors including equipment manufacturers might face challenges with declining production rate, in global shunt reactor market. At the same time, increasing raw material cost can work like fuel in fire for manufacturers and equipment vendors, in global shunt reactor market.
Increasing demand for modern transmission and distribution networks is primarily attributed to growth of global shunt reactor Market. Moreover, with the increase in the demand for energy stakeholders are focusing more towards improving infrastructure to facilitate transmission and distribution of electricity.
According to FMI’s analysis, technology collocation of shunt reactor manufacturers with state/local governments is likely to create new business opportunities for all the stockholders of the shunt reactor market. Examples of some of the key players operating in the global shunt reactor market include ABB Ltd., Fuji Electronic Co., Ltd., General Electric, Hyosung Corporation, Nissin Electric Co., Ltd., Zaporozhtransformator PJSC, Siemens AG, and Toshiba Corporation.
Key Developments in Global Shunt Reactor Market
In April 2016, Fuji acquired a 51% stake in SEMEC Electro-Mecanique Inc., a Canada-based manufacturer of rail systems.
In March 2015, ABB developed a new kind of capacitor device that offers increased efficiency and minimizes thermal losses. The capacitor also has an in-built function to fail during power failures.
In June 2015, the ABB introduced an electrical device that can automatically compensate voltage fluctuations throughout the distribution network.
In August 2015, Fuji completed acquisition of turbine and power plant service segments of RTS Holdings, Inc., located at Sullivan, Missouri, U.S.
In December 2015, Hyosung Corporation won the contract to build a full-fledged power grid system that consists of two 220kv substations, transmission network of over 300 km and 975 towers for transmission purposes.
Future Market Insights (FMI) offers a 10-year forecast of the shunt reactor market between 2016 and 2026. In terms of value, the shunt reactor market is expected to register a signal-digit CAGR during the forecast period. This study demonstrates the global market dynamics and trends across seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and MEA, which influence the current nature and future status of the shunt reactor market over the forecast period.
Even though shunt reactors do not exhibit significant differences in operation and performance than power transformers, distinct properties of single phase shunt reactors and three phase shunt reactors have a huge impact on their industrial applications. With the power industry undergoing significant structural changes the need for reducing the production of conventional energy, the demand for HV shunt reactors with a high power range has been triggered in such applications.
In the coming years, variable shunt reactors with a significantly high power range is expected to emerge as a substitute for fixed shunt reactors operating in parallel with a relatively lower power range in power-related applications. Nevertheless, leading market players are expected to maintain focus on introducing various other types of shunt reactors such as magnetic shunt reactors, dry shunt reactors, line reactors, and oil-immersed shunt reactors, to sync with application-specific demands of end users.
This research report provides a detailed analysis of the shunt reactor market and offers insights on the various factors driving the popularity of shunt reactor. The report includes an extensive analysis of the key industry drivers, challenges, market trends and market structure. The market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the shunt reactor market based on technology, application and different regions globally.
The shunt reactor market is expected to witness significant value & volume growth during the forecast period owing to implementation of underground transmission cables in residential application and increasing utilization of variable shunt reactor over fixed shunt reactor in renewable energy projects.
The report starts with an overview of the shunt reactor market in terms of value & volume. In addition, this section includes an analysis of key trends, drivers and challenges from the supply, demand and economy side, which are influencing the shunt reactor market.
The shunt reactor market is classified on the basis of product, phase, rating, application, and region. By product, the shunt reactor market is sub-segmented into air-core dry type and oil immersed. By phase, the global shunt reactor market is segmented as single phase and three phase. On the basis of rating, the global shunt reactor market has been segmented into fixed shunt reactor and variable shunt reactor. The single phase sub-segment accounted for more than 50% share of the global shunt reactor market owing to IoT and other technological advancements.
A detailed analysis has been provided for every segment in terms of market size analysis for the shunt reactor market across different regions. This section provides a detailed analysis covering the key trends.
The next section contains a detailed analysis of the shunt reactor market across various countries in the region. It provides a market outlook for 2016–2026 and sets the forecast within the context of the shunt reactor market, which includes latest technological developments as well as offerings in the market. This study discusses the key trends within countries contributing to growth of the shunt reactor market, as well as analyses the degrees at which drivers are influencing the market in each region. The key regions and countries assessed in this report include North America (U.S., Canada), Latin America (Brazil, Mexico & Rest of Latin America), Western Europe (UK, France, Germany, Italy, Spain, BENELUX & Rest of Western Europe), Eastern Europe (Russia, Poland & Rest of Eastern Europe), APEJ (China, India, Australia & New Zealand, ASEAN & Rest of APEJ), and Japan and MEA (GCC Countries, Turkey, South Africa, Northern Africa & Rest of MEA). This report evaluates the present scenario and the growth prospects of the shunt reactor market across various regions globally for the period 2016 –2026. We have considered 2015 as the base year and provided data for the remaining 12 months.
To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the shunt reactor market will grow in the future. Given the characteristics of the shunt reactor market, we have triangulated the outcome of different types of analysis based on the implementation of shunt reactors in different applications.
As previously highlighted, the global shunt reactor market is split into a number of segments. All segments in terms of product, phase, rating, application, and different regions are analysed in terms of basis points to understand the relative contributions of individual segments to market growth. This detailed information is important for the identification of various key trends in the global shunt reactor market.
In addition, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global shunt reactor market.
In the final section of the report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the shunt reactor market and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the shunt reactor supply chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the shunt reactor market. Examples of some of the key competitors covered in the report are ABB Ltd., Fuji Electronic Co., Ltd., General Electric, Hyosung Corporation, Nissin Electric Co., Ltd., Zaporozhtransformator PJSC, Siemens AG, and Toshiba Corporation.
- Air-core dry Type
- Oil Immersed
- Single Phase
- Three Phase
- Fixed Shunt Reactor
- Variable Shunt Reactor
Key Regions Covered:
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Australia & New Zealand
- Rest of APEJ
- GCC Countries
- South Africa
- North Africa
- Rest of MEA
- ABB Ltd.
- Fuji Electronic Co., Ltd.
- General Electric
- Hyosung Corporation
- Nissin Electric Co., Ltd.
- Zaporozhtransformator PJSC
- Siemens AG
- Toshiba Corporation
Shunt Reactor Market Reports - Table of Contents
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology