The shunt reactor increases the energy efficiency of the system by acting as an absorber to the reactive power. Commonly used for reactive power compensation in long high-voltage transmission lines and in cable systems, this product has high demand in various industries. Thus, there is high demand for the Shunt Reactor Market.
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The conditions or the working environment of shunt reactor are not the same as it was a few decades ago due to the constant improvisation and dynamism of this market. Shunt reactor market is constantly evolving, thus facilitating development of new technologies. 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.
The North America shunt reactor market accounts for more than quarter of the global market for Shunt reactor and is the fastest growing market followed by Asia 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.
The Shunt Reactor Market is segmented into various categories in the IndustryARC market research report by phase, by type, by industry and by geography.
• 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
According to market research report by IndustryARC, Some of the prominent companies in the...