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Shunt Reactor Market and Grid Modernization: A Perfect Synergy

The market's growth is primarily driven by the increasing demand for energy, necessitating the expansion and modernization of power grids. The integration of renewable energy sources, such as wind and solar power, into existing grids has further amplified the need for shunt reactors to manage voltage fluctuations and ensure grid stability.

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Shunt Reactor Market and Grid Modernization: A Perfect Synergy

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  1. Shunt Reactor Market Expansion: Driving Renewable Energy Integration Published by: Apurva, Marketing Head

  2. Market Size & Overview: The global shunt reactor market was valued at approximately USD 2.66 billion in 2023 and is projected to reach around USD 4.05 billion by 2030, growing at a CAGR of 6.2% during the forecast period. Shunt reactors are essential components in electrical power systems, used to absorb reactive power and stabilize voltage levels in high-voltage transmission lines and substations.

  3. Market Growth & Opportunities The market's growth is primarily driven by the increasing demand for energy, necessitating the expansion and modernization of power grids. The integration of renewable energy sources, such as wind and solar power, into existing grids has further amplified the need for shunt reactors to manage voltage fluctuations and ensure grid stability. Additionally, ongoing investments in upgrading aging power infrastructure present significant opportunities for market expansion. Sample Request

  4. Market Segmentation by Application • Less than 200 kV • 200kV-400kV • Above 400kV by End use • Electric utilities • Industrial Verticals by Type of Product • Oil-Immersed Reactor • Air Core Dry Reactor by Form Factor • Fixed Shunt Reactor • Variable Shunt Reactor

  5. Regional Analysis: • North America: This region is expected to dominate the shunt reactor market through 2030, driven by substantial investments in power infrastructure and the integration of renewable energy sources. • Europe: European countries are actively upgrading their power grids to accommodate renewable energy integration, leading to increased demand for shunt reactors. Initiatives aimed at reducing carbon emissions and enhancing energy efficiency further bolster market growth in this region.

  6. Regional Analysis Customized Report Request

  7. Merges and Acquisition • Zaporozhtransformator PJSC and Tokmak Solar Energy Ltd.: Zaporozhtransformator PJSC signed an agreement with Tokmak Solar Energy Ltd. to deliver its transformer - TRDN-32000/150-Y1. • Siemens AG and Semco Maritime: Siemens AG acquired an order from Semco Maritime to supply key electrical equipment for the electrical service platform at the 1.6-GW Mayflower Wind offshore wind farm project. The contract includes high-voltage equipment such as an integrated conditioning monitoring system, three shunt reactors, and gas-insulated switchgear. Buy This Report

  8. Thank You Get In Touch with US: MAXIMIZE MARKET RESEARCH PVT. LTD. 3rd Floor, Navale IT park Phase 2, Pune Banglore Highway, Narhe Pune, Maharashtra 411041, India. +91 9607365656 sales@maximizemarketresearch.com

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