Global Shunt Reactor Market: Overview
Energy security is a prerequisite for any country that aspires to prosper. A country’s power transmission and distribution network thus plays a pivotal part in its overall economic development. This has prompted countries to renew their commitment to building a robust energy infrastructure, thus accelerating the growth of the global shunt reactor market.
A shunt reactor, by virtue of absorbing reactive power, plays a crucial role in increasing the energy efficiency of a power transmission system. High-voltage transmission lines and cable systems need effective reactive power compensation to protect them from the spike in voltage levels that can cause irreparable damage. A shunt reactor can be either directly connected to a transmission line or to a three-winding transformer’s tertiary winding. Some facilities deploy a permanent connection between the shunt reactor and the power line, while a circuit breaker is used in some cases. Shunt reactors with variable ratings are used in power lines where load variation is slow so as to optimally adjust the consumed reactive power. The role of shunt reactors is thus crucial in power transmission lines that cover a large area.
The report on the global shunt reactors market analyzes the impact of the rising 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 equipment manufacturers, utilities, and energy industry players. The market for shunt reactors is segmented on the basis of type into air-core dry and oil-immersed shunt reactors. Of these, oil-immersed shunt reactor has been the dominant product. Key end users of shunt reactors are industrial facilities and electrical utilities. Key regions analyzed in this report are North America, Europe, Asia Pacific, and Rest of the World.
Global Shunt Reactor Market: Key Trends and Opportunities
Led by the rising investments in either upgrading or setting up new transmission and distribution networks worldwide, companies in the global shunt reactor market are witnessing new growth avenues. Increasing share of renewable energy in the global power industry and the resultant need to improve grid interconnectivity would help fuel the demand for shunt reactors. At the same time, increasing emphasis on reducing the loss of power during transmission and distribution is driving the market. Fresh investments in smart grids would further boost the growth of the global shunt reactors market. However, economic uncertainty in some countries in the Middle East has led to the postponement of large-scale investments in power transmission and distribution networks. This presents a challenge for companies in the shunt reactors market.
Global Shunt Reactor Market: Region-wise Outlook
Increasing number of countries are turning toward renewable energy projects to meet their energy needs, thereby leading to the establishment of new renewable power generation facilities across the world. This presents immense opportunities for shunt reactor manufacturers and ancillary organizations because the active power generated by renewable energy sources is not only unpredictable but is also characterized by high degree of fluctuation. Shunt reactors can help compensate fluctuating active power, which makes them useful in renewable energy projects.
Energy-hungry industrializing nations in Asia Pacific, the Middle East, and Latin America have created a conducive environment for the growth of the shunt reactor market. Demand for shunt reactors is the highest in Asia Pacific and North America.
Companies that have a firm foothold in the global shunt reactors market and have been 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 all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.