Shunt Reactor Market: huge demand for transformer shunt for low power transmission lines.
The shunt reactor increases the energy efficiency of the system by acting as an absorber to the reactive power. It is commonly used for reactive power compensation in long high-voltage transmission lines and in cable systems. This product has high demand in various industries for reactor transformer, neutral core reactor, air core reactor, fluidized bed reactor etc. Thus, there is high demand for the Shunt Reactor Market across the globe during 2016-2021.
Scope and Regional Forecast of the Shunt Reactor Market:
According to the IndustryARC research analysis studies on the Shunt Reactor Market, It is constantly evolving, thus, supporting the development of new technologies for reactor shunt core design and new shunt reactor core design types for shunt compensation. Low transmission power lines and growth of renewable energy are the major drivers for this industry.
North America is the leading region for Shunt Reactor Market. North America region is expected to have highest growth in the next few years due to growing adoption of shunt reactor in industrial applications and high scope of developing innovative shunt reactor design. There is high demand for shunt capacitor, single phase reactor and transformer shunt for industrial use in this region.
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The North America shunt reactor market accounts for more than quarter of the global market for Shunt reactor and it is the fastest growing market followed by Asia Pacific during 2016 – 2021.The dry type reactors are expected to have the highest growth during the forecast period 2016-2021. Power substations, various industries are the major end-users for Shunt reactors.
Segmentation and Key Players of the Shunt Reactor Market:
The Shunt Reactor Market is segmented into various categories in the IndustryARC marketing research report by phase, by type, by industry and by geography as follows:
By phase: single phase and three phase
By type: air-core dry shunt reactor, oil-immersed and others
By industry: chemical industry, oil & gas industry, pharmaceuticals, paper & pulp, electronics, food & beverage, electrical utilities and others
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Shunt Reactor Market according to the IndustryARC research report are as follows:
- Crompton Greaves Limited
- S & C Electric Co.
- Alfa Tec Inc.
- Square One Electric Service Co.
The Shunt Reactor Market has great demand for transformer reactor and high voltage shunt reactors in various end user industries across the globe. This market is expected to grow with constant pace owing its demand to rising industrialization in various regions. This market is a profitable market for high revenue gains in upcoming years through 2021.
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