Fixed Shunt Reactor Market Research Report By Power Rating (Less than 200 MVar, 200-500 MVar, 500-1000 MVar, More than 1000 MVar), By Voltage Level (Less than 100 kV, 100-250 kV, 250-500 kV, More than 500 kV), By Cooling Type (Oil Immersion, Air Core Design), By Application (Transmission System, Distribution System, Power Plants, Industrial Applications) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Fixed Shunt Reactor Market Overview:

As per MRFR analysis, the Fixed Shunt Reactor Market Size was estimated at 1.73 (USD Billion) in 2022.The Fixed Shunt Reactor Market Industry is expected to grow from 1.82(USD Billion) in 2023 to 2.8 (USD Billion) by 2032. The Fixed Shunt Reactor Market CAGR (growth rate) is expected to be around 4.92% during the forecast period (2024 - 2032).

Key Fixed Shunt Reactor Market Trends Highlighted

The rising demand for electricity and the integration of renewable energy sources are driving the growth of the Fixed Shunt Reactor Market. Governments worldwide are investing heavily in grid infrastructure to accommodate the increasing power demand and ensure a stable power supply. Moreover, the need to improve power quality and reduce transmission losses is fueling the adoption of fixed-shunt reactors. Additionally, the growing focus on energy efficiency and environmental sustainability is creating opportunities for the market.

Recent trends in the Fixed Shunt Reactor Market include the adoption of advanced technologies such as high-temperature superconductors (HTS) to enhance efficiency and reduce footprint. The market is also witnessing the development of compact and modular designs for easier installation and maintenance. Furthermore, the increasing demand for smart grid technologies is expected to drive the adoption of intelligent fixed-shunt reactors that can provide real-time monitoring and control capabilities.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Fixed Shunt Reactor Market Drivers

Rising Demand for Renewable Energy Integration

The integration of renewable energy sources, such as solar and wind power, is driving the growth of the Global Fixed Shunt Reactor Market Industry. Renewable energy sources are intermittent in nature, meaning that their output can vary significantly depending on the weather conditions. Fixed shunt reactors help to stabilize the grid voltage and improve power quality by compensating for the reactive power fluctuations caused by renewable energy sources.As the world transitions to a cleaner energy mix, the demand for fixed-shunt reactors is expected to increase significantly.

Growing Emphasis on Grid Modernization

The aging infrastructure of the global electricity grid is driving the need for modernization. Fixed shunt reactors play a vital role in grid modernization by enhancing the stability and efficiency of the grid. They help to reduce transmission losses, improve voltage regulation, and increase the overall reliability of the grid. As countries around the world invest in grid modernization, the demand for fixed-shunt reactors is expected to grow.

Increasing Adoption of Smart Grid Technologies

The adoption of smart grid technologies is creating new opportunities for fixed-shunt reactors. Smart grids are designed to improve the efficiency, reliability, and resilience of the electricity grid. Fixed shunt reactors can be integrated into smart grids to provide real-time voltage control and reactive power compensation. This helps to optimize grid performance and reduce operational costs.

Fixed Shunt Reactor Market Segment Insights:

Fixed Shunt Reactor Market Power Rating Insights

Power Rating Outlook Based on the power rating, the global fixed shunt reactor market is segmented as less than 200 MVar, 200-500 MVar, 500-1000 MVar, and more than 1000 MVar. The 200-500 MVar segment is expected to grow in the coming years as the presence of the segment is attributed to the increase in demand for shunt reactors in the power transmission and distribution networks. The 500-1000 MVar segment is expected to witness substantial growth in the coming years as the rising inclination towards the adoption of high-voltage lines is propelling the growth of the segment.

Revenue Outlook Based on the revenue generated, the global fixed shunt reactor market is expected to generate a monetary value of USD 2.8 Billion by the end of 2032. The growth of the market is attributed to the rising demand for electricity, growing investment patterns in the power infrastructure, and the need to enhance grid stability and effectiveness. Regional Outlook On the regional front, the Asia-Pacific region is set to expand with the major share of the global fixed-shunt reactor market. The region is estimated to account for more than 40% of the market by the end of the forecast period.

The growth of the Asia-Pacific region is attributed to the increase in expansions of the power generation and power transmission network, especially in countries such as China and India. The North American and European regions are also expected to expand in the coming years on account of the rising adoption of renewable energy sources and to cater to the needs of grid modernization. Leading Companies The established companies in the global fixed shunt reactor market are ABB, Siemens, General Electric, and Toshiba. These companies are focusing on expanding their offering to cater to the changing needs of their customers.The global fixed shunt reactor market is anticipated to remain competitive as new players are at the doorstep to set their bases across the globe.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Fixed Shunt Reactor Market Voltage Level Insights

The Global Fixed Shunt Reactor Market is segmented by voltage level into Less than 100 kV, 100-250 kV, 250-500 kV, and More than 500 kV. Among these segments, the 250-500 kV segment is expected to hold the largest market share in 2023, accounting for around 40% of the Global Fixed Shunt Reactor Market revenue. This is due to the increasing demand for fixed-shunt reactors in this voltage range for power transmission and distribution applications. The Less than 100 kV segment is expected to witness the fastest growth rate during the forecast period, owing to the growing adoption of fixed shunt reactors in low-voltage distribution networks.The 100-250 kV and More than 500 kV segments are also expected to contribute significantly to the overall market growth.

Fixed Shunt Reactor Market Cooling Type Insights

The Global Fixed Shunt Reactor Market is segmented by Cooling Type into Oil Immersion and Air Core Design. The Oil Immersion segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The high demand for Oil Immersion Fixed Shunt Reactors can be attributed to their ability to provide superior cooling performance, especially in applications where space is constrained. Additionally, Oil Immersion Fixed Shunt Reactors offer lower maintenance costs and longer lifespan compared to Air Core Design Fixed Shunt Reactors.The Air Core Design segment is expected to witness a steady growth rate during the forecast period. This growth can be attributed to the increasing adoption of Air Core Design Fixed Shunt Reactors in renewable energy applications, such as solar and wind power plants. The growth of the market is attributed to the increasing demand for electricity and the need for efficient power transmission and distribution systems.

Fixed Shunt Reactor Market Application Insights

The Global Fixed Shunt Reactor Market is segmented by Application into Transmission Systems, Distribution Systems, Power Plants, and Industrial Applications. Among these, the Transmission System segment held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing demand for reliable and efficient power transmission systems to meet the rising electricity demand. Additionally, government initiatives to upgrade and expand transmission infrastructure to reduce power losses and improve grid stability are driving the growth of this segment.

The Distribution System segment is also expected to witness significant growth during the forecast period. The increasing adoption of distributed energy resources, such as solar and wind power, is driving the need for efficient distribution systems to integrate these renewable energy sources into the grid. Moreover, the growing demand for electricity in urban areas is fueling the need for robust distribution systems to ensure reliable power supply. Power Plants and Industrial Applications segments are also expected to contribute to the growth of the Global Fixed Shunt Reactor Market.Power plants require shunt reactors to regulate voltage and improve power factor, while industrial applications utilize shunt reactors to mitigate voltage fluctuations and enhance power quality. The increasing demand for electricity from data centers, manufacturing facilities, and other industrial sectors is expected to drive the growth of these segments.

Fixed Shunt Reactor Market Regional Insights

The regional segmentation of the Global Fixed Shunt Reactor Market provides insights into the geographical distribution of market growth and potential. The market is segmented into five key regions: North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest market share in 2023, owing to the presence of well-established power infrastructure and increasing demand for reliable and efficient power transmission solutions. Europe is projected to follow North America in terms of market size, driven by stringent environmental regulations and the growing adoption of renewable energy sources.APAC is expected to witness significant growth, attributed to rapid industrialization and urbanization in countries like China and India. South America and MEA are emerging markets with potential for growth as they seek to improve their power infrastructure and meet the growing demand for electricity.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Fixed Shunt Reactor Market Key Players And Competitive Insights:

Major players in the Fixed Shunt Reactor Market industry are engaged in continuously enhancing their competitive edge over each other by introducing products with increased functionalities and features. Top companies operating in the Fixed Shunt Reactor Market are focused on the development of innovative solutions for their customers. Fixed Shunt Reactor Market players are involved in expanding their presence in the market to gain a larger share of the market. The various Market development activities include acquiring certificates, product R, and testing. Fixed Shunt Reactor Market companies are involved in making business strategies which include mergers, acquisitions, and collaborations to increase their market presence.

Siemens Energy is one of the key players in the Global Fixed Shunt Reactor Market. Thus, Siemens Energy occupies a substantial share of the market. The Fixed Shunt Reactor Products offered by Siemens Energy are widely used and the company has a wide range of products offered in Fixed Shunt Reactor Products and Solutions. Siemens Energy has been able to establish itself in the market due to its Qualified R Teams, partnerships with various Fixed Shunt Reactor Market companies, and innovative solutions. The wide range of presence of Siemens Energy in different regions helps the company to cater to a large number of customers depending on customer demand in different regions. Moreover, Siemens Energy is involved in updating technology, which helps in delivering efficient and reliable Fixed Shunt Reactor solutions.

ABB is another Fixed Shunt Reactor Market Company that has a prominent market presence. ABB offers numerous products for various applications in the Fixed Shunt Reactor Market and caters to customers of nearly all application types. ABB has a wide range of products in the Fixed Shunt Reactor Market and is involved in offering solutions that meet varying customer requirements. The product range of Fixed Shunt Reactor Products of ABB is wide and has a presence in all regions of the world where customized solutions according to customer requirements are provided. ABB is involved in the R business with a high level of expertise in Power Electronics and Automation.

Key Companies in the Fixed Shunt Reactor Market Include:

• Toshiba Corporation


• Schneider Electric


• Hitachi


• Shandong Electric Power Construction Third Engineering Co., Ltd.


• Hyosung Heavy Industries


• PJSC Rosseti


• Siemens


• PG Corporation


• Mitsubishi Electric Corporation


• Eaton


• Southern Company


• EDF Group


• ABB


• General Electric


• Terna SpA

Fixed Shunt Reactor Market Industry Developments

The global fixed shunt reactor market is anticipated to grow steadily over the forecast period, reaching a value of approximately USD 2.8 billion by 2032, expanding at a CAGR of around 4.92% from 2024 to 2032.Recent developments in the industry include the growing adoption of renewable energy sources, which is driving the demand for shunt reactors to stabilize the grid. Additionally, the increasing focus on grid modernization and expansion is expected to contribute to market growth. Key players in the market are investing in research and development to enhance the efficiency and performance of fixed-shunt reactors.

Fixed Shunt Reactor Market Segmentation Insights

• Fixed Shunt Reactor Market Power Rating Outlook
  
  
  
  • Less than 200 MVar
  
  
  • 200-500 MVar
  
  
  • 500-1000 MVar
  
  
  • More than 1000 MVar
  
  
  
  

• Fixed Shunt Reactor Market Voltage Level Outlook
  
  
  
  • Less than 100 kV
  
  
  • 100-250 kV
  
  
  • 250-500 kV
  
  
  • More than 500 kV
  
  
  
  

• Fixed Shunt Reactor Market Cooling Type Outlook
  
  
  
  • Oil Immersion
  
  
  • Air Core Design
  
  
  
  

• Fixed Shunt Reactor Market Application Outlook
  
  
  
  • Transmission System
  
  
  • Distribution System
  
  
  • Power Plants
  
  
  • Industrial Applications
  
  
  
  

• Fixed Shunt Reactor Market Regional Outlook
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa