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Global Shunt Reactor Market: Overview
Energy security is a prerequisite for any country that wants to be successful. A country’s electricity transmission and distribution network therefore plays a decisive role in its overall economic development. This has led countries to renew their commitment to building robust energy infrastructure, thus accelerating the growth of the global shunt reactor market.
A shunt reactor plays a crucial role in increasing the energy efficiency of an energy transmission system due to the absorption of reactive power. High voltage transmission lines and cable systems require effective reactive power compensation to protect them from voltage spikes that can cause irreparable damage. A shunt reactor can be connected either directly to a transmission line or to the tertiary winding of a three-winding transformer. Some devices establish a permanent connection between the shunt reactor and the power line, while in some cases a circuit breaker is used. Shunt reactors with variable ratings are used in power lines where the load fluctuation is slow in order to optimally adjust the reactive power consumed. The role of shunt reactors is therefore of crucial importance in large-area power transmission lines.
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The report on the Global Shunt Reactors Market analyzes the impact of increasing investments in power transmission and distribution networks on the performance of the global Shunt Reactors Market. The report has been compiled to serve as a valuable decision-making tool for electrical appliance manufacturers, utilities and energy industry players. The Shunt Reactor Market is segmented into Air-Core Dry and Oil Shunt Reactors by type. Of these, the oil-immersed shunt reactor was the dominant product. Important end users of shunt reactors are industrial plants and electricity suppliers. Key regions analyzed in this report are North America, Europe, Asia Pacific, and the rest of the world.
Global Shunt Reactor Market: Key Trends and Opportunities
Companies in the global shunt reactor market are seeing new growth opportunities, led by increasing investments in modernizing or building new transmission and distribution networks around the world. An increasing share of renewable energies in the global energy industry and the resulting need to improve the grid connection would help to fuel the demand for shunt reactors. At the same time, the increasing emphasis on reducing power outages during transmission and distribution is driving the market. New investments in smart grids would further fuel the growth of the global shunt reactor market. However, economic uncertainty in some Middle Eastern countries has resulted in substantial investments in power transmission and distribution networks being postponed. This is a challenge for companies in the shunt reactor market.
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Global Shunt Reactor Market: Regional Outlook
More and more countries are turning to renewable energy projects to meet their energy needs, leading to the construction of new renewable energy plants around the world. This offers shunt reactor manufacturers and aid organizations enormous opportunities, as the active current generated from renewable energy sources is not only unpredictable, but is also characterized by high fluctuations. Shunt reactors can help compensate for fluctuating real power, which makes them useful for renewable energy projects.
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Energy-hungry industrial nations in Asia-Pacific, the Middle East, and Latin America have created a favorable environment for the shunt reactor market to grow. The demand for shunt reactors is highest in the Asia-Pacific region and North America.
Companies that are firmly anchored in the global Shunt Reactor market and analyzed in this report include ABB Limited, Siemens AG, Toshiba, Alstom SA, Mitsubishi Electric Corporation, Crompton Greaves and Hyundai Heavy Industries.
This study by TMR is a comprehensive framework for market dynamics. It mainly involves critically evaluating consumer or customer trips, current and emerging routes, and strategic frameworks to enable CXOs to make effective decisions.
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