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    Renewable Based Shunt Reactor Market

    ID: MRFR/E&P/27302-HCR
    100 Pages
    Chitranshi Jaiswal
    September 2025

    Renewable-Based Shunt Reactor Market Research Report By Type (Dry Type, Oil Immersed Type, Gas Insulated Type), By Application (Transmission System, Distribution System, Industrial Applications), By Voltage Rating (Low Voltage (up to 1 kV), Medium Voltage (1 kV to 66 kV), High Voltage (above 66 kV)), By Power Rating (Up to 50 MVAR, 50 MVAR to 100 MVAR, Above 100 MVAR) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2034

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    Summary Table of Contents Segmentation Infographic

    Renewable Based Shunt Reactor Market Summary

    The Global Renewable Based Shunt Reactor Market is projected to grow from 0.99 USD Billion in 2024 to 2.51 USD Billion by 2035.

    Key Market Trends & Highlights

    Renewable Based Shunt Reactor Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 8.84 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 2.51 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 0.99 USD Billion, reflecting the increasing demand for renewable energy solutions.
    • Growing adoption of renewable energy technologies due to the need for grid stability is a major market driver.

    Market Size & Forecast

    2024 Market Size 0.99 (USD Billion)
    2035 Market Size 2.51 (USD Billion)
    CAGR (2025-2035) 8.84%

    Major Players

    Mitsubishi Electric, Eaton, Crompton Greaves, Siemens, Schneider Electric, Nelco, Hitachi, General Electric, ABB, KEI Industries, Hyundai Electric, LS Electric, CG Power and Industrial Solutions, Havells India, Toshiba

    Renewable Based Shunt Reactor Market Trends

    There are drivers for the growth of the Renewable-Based Shunt Reactor Market, including increased utilization of renewable energy sources such as solar and wind energy, the necessity to manage grid quality and voltages, and the increasing power consumption in developing countries. Some of the market opportunities include the launch of innovative technologies such as solid-state shunt reactors and the growing interest in regional expansion within the market. Recent times have seen an upsurge in the use of clean energy resources, an increase in electricity demand and growing advanced technology.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    The increasing integration of renewable energy sources into the power grid is driving the demand for renewable based shunt reactors, which are essential for maintaining voltage stability and enhancing grid reliability.

    U.S. Department of Energy

    Renewable Based Shunt Reactor Market Drivers

    Increasing Demand for Renewable Energy

    The Global Renewable Based Shunt Reactor Market Industry is experiencing heightened demand due to the global shift towards renewable energy sources. Governments worldwide are implementing policies to reduce carbon emissions, which has led to an increased focus on integrating renewable energy into the grid. For instance, the International Energy Agency indicates that renewable energy capacity is expected to grow significantly, with projections suggesting that the market could reach 0.99 USD Billion in 2024. This trend is likely to drive the adoption of shunt reactors, which help manage voltage levels and enhance grid stability.

    Market Segment Insights

    Renewable-Based Shunt Reactor Market Segment Insights:

    Renewable-Based Shunt Reactor Market Segment Insights:

    Renewable-Based Shunt Reactor Market Type Insights  

    Renewable-Based Shunt Reactor Market Type Insights  

    The Renewable-Based Shunt Reactor Market is segmented by Type into Dry Type, Oil Immersed Type, and Gas Insulated Type. The dry-type segment is expected to hold the largest market share in 2023 and is projected to continue to dominate the market during the forecast period. The Oil Immersed Type segment is expected to grow at the fastest CAGR during the forecast period. The growth of the Dry Type segment is attributed to its advantages, such as low maintenance costs, compact size, and lightweight.

    These reactors are also easy to install and require minimal maintenance, making them a preferred choice for various applications.The Oil Immersed Type segment is expected to witness significant growth due to its high efficiency, reliability, and ability to handle large currents. The Gas Insulated Type segment is expected to gain traction during the forecast period owing to its compact size, low noise level, and high efficiency. These reactors are also environmentally friendly, as they do not use any hazardous materials.

    The Renewable-Based Shunt Reactor Market is expected to witness significant growth in the coming years, driven by the increasing adoption of renewable energy sources and the need for efficient power transmission and distribution systems.The market is also expected to benefit from government initiatives and regulations aimed at promoting the use of renewable energy and reducing carbon emissions.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Renewable-Based Shunt Reactor Market Application Insights  

    Renewable-Based Shunt Reactor Market Application Insights  

    The Renewable-Based Shunt Reactor Market segmentation by Application comprises Transmission Systems, Distribution Systems, and Industrial Applications. The Transmission System segment held the largest market share in 2023, and it is expected to continue its dominance during the forecast period. This growth is attributed to the increasing demand for renewable energy sources and the need to improve the efficiency of the transmission system.

    The Distribution System segment is also expected to witness significant growth during the forecast period, owing to the growing need for reliable and efficient distribution of electricity.The Industrial Applications segment is expected to grow at a steady pace during the forecast period, driven by the increasing demand for shunt reactors in various industrial applications, such as electric arc furnaces and induction heating systems.

    Renewable-Based Shunt Reactor Market Voltage Rating Insights  

    Renewable-Based Shunt Reactor Market Voltage Rating Insights  

    The Renewable-Based Shunt Reactor Market is segmented by Voltage Rating into Low Voltage (up to 1 kV), Medium Voltage (1 kV to 66 kV), and High Voltage (above 66 kV). Among these segments, the Medium Voltage segment is expected to hold the largest market share in 2024, owing to the increasing demand for shunt reactors in medium-voltage distribution networks to improve voltage stability and power quality.

    The High Voltage segment is expected to witness the highest growth rate during the forecast period due to the growing adoption of renewable energy sources, such as solar and wind power, which require high-voltage shunt reactors to integrate into the grid.The Low Voltage segment is also expected to experience steady growth, driven by the increasing demand for shunt reactors in low-voltage industrial applications.

    Renewable-Based Shunt Reactor Market Power Rating Insights  

    Renewable-Based Shunt Reactor Market Power Rating Insights  

    The Renewable-Based Shunt Reactor Market segmentation by power rating showcases distinct market dynamics. The "Up to 50 MVAR" segment held a significant market share in 2023, owing to its wide adoption in small-scale renewable energy projects. The "50 MVAR to 100 MVAR" segment is projected to witness robust growth over the forecast period, driven by increasing demand for medium-scale renewable energy installations.

    The "Above 100 MVAR" segment is anticipated to gain traction as large-scale renewable energy projects, such as offshore wind farms, continue to proliferate.The Renewable-Based Shunt Reactor Market data indicates that the "Up to 50 MVAR" segment is expected to reach a valuation of approximately USD 0.4 billion by 2024, while the "50 MVAR to 100 MVAR" and "Above 100 MVAR" segments are projected to generate revenues of USD 0.6 billion and USD 0.8 billion, respectively, by 2024.

    These insights provide valuable guidance for manufacturers and suppliers operating in the Renewable-Based Shunt Reactor Market industry, enabling them to tailor their strategies to cater to the evolving market requirements and drive market growth.

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    Regional Insights

    The Renewable-Based Shunt Reactor Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023, owing to the increasing adoption of renewable energy sources and the presence of a well-established power grid infrastructure. Europe is anticipated to follow North America in terms of market size, driven by stringent environmental regulations and government incentives for renewable energy adoption.

    The APAC region is projected to witness significant growth over the forecast period, primarily due to the rising demand for electricity and the growing focus on renewable energy development in countries such as China and India.South America and MEA are expected to contribute a smaller share of the global market, but they are anticipated to experience steady growth over the coming years.

    Renewable-Based Shunt Reactor Market Regional Insights

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    Major players in the Renewable-Based Shunt Reactor Market industry are focusing on expanding their product portfolio and increasing their market share. Leading Renewable-Based Shunt Reactor Market players are also investing in research and development to develop new and innovative products. The Renewable-Based Shunt Reactor Market is expected to witness significant growth in the coming years, owing to the increasing demand for renewable energy sources. The competitive landscape of the Renewable-Based Shunt Reactor Market is expected to remain fragmented, with a number of small and medium-sized players operating in the market.

    However, the market is expected to witness consolidation, with the larger players acquiring smaller players to increase their market share.Mitsubishi Electric is a leading Renewable-Based Shunt Reactor Market player. The company offers a wide range of Renewable-Based Shunt Reactor products, including dry-type and oil-filled shunt reactors. Mitsubishi Electric also offers a variety of services, including engineering, installation, and maintenance. The company has a strong presence in the Asia-Pacific region and is also expanding its presence in Europe and North America.Eaton is a major competitor in the Renewable-Based Shunt Reactor Market.

    The company offers a wide range of Renewable-Based Shunt Reactor products, including dry-type and oil-filled shunt reactors. Eaton also offers a variety of services, including engineering, installation, and maintenance. The company has a strong presence in North America and Europe and is also expanding its presence in the Asia-Pacific region.

    Key Companies in the Renewable Based Shunt Reactor Market market include

    Industry Developments

    The Renewable-Based Shunt Reactor Market is poised for substantial growth, driven by the increasing adoption of renewable energy sources and the need to stabilize power grids. According to a recent report, the market is expected to reach USD 2.31 billion by 2034, expanding at a CAGR of 8.82% from 2025 to 2034. Key market trends include rising investments in renewable energy projects, government initiatives supporting grid modernization, and technological advancements in shunt reactor design. Recent developments include the launch of new high-voltage shunt reactors by major manufacturers and the integration of advanced control systems to enhance grid stability.

    Future Outlook

    Renewable Based Shunt Reactor Market Future Outlook

    The Renewable Based Shunt Reactor Market is poised for growth at 8.84% CAGR from 2024 to 2035, driven by increasing renewable energy integration and grid stability needs.

    New opportunities lie in:

    • Develop advanced materials for enhanced reactor efficiency and longevity.
    • Invest in smart grid technologies to optimize shunt reactor performance.
    • Explore partnerships with renewable energy firms for integrated solutions.

    By 2035, the market is expected to achieve robust growth, reflecting a strong demand for sustainable energy solutions.

    Market Segmentation

    Renewable-Based Shunt Reactor Market Type Outlook

    • Dry Type
    • Oil Immersed Type
    • Gas Insulated Type

    Renewable-Based Shunt Reactor Market Regional Outlook

    • North America
    • Europe
    • South America
    • Asia Pacific
    • Middle East and Africa  

    Renewable-Based Shunt Reactor Market Application Outlook

    • Transmission System
    • Distribution System
    • Industrial Applications

    Renewable-Based Shunt Reactor Market Power Rating Outlook

    • Up to 50 MVAR
    • 50 MVAR to 100 MVAR
    • Above 100 MVAR

    Renewable-Based Shunt Reactor Market Voltage Rating Outlook

    • Low Voltage (up to 1 kV)
    • Medium Voltage (1 kV to 66 kV)
    • High Voltage (above 66 kV)

    Report Scope

    Report Attribute/Metric Details
    Market Size 2024    0.99 (USD Billion)
    Market Size 2025    1.08 (USD Billion)
    Market Size 2034    2.31 (USD Billion)
    Compound Annual Growth Rate (CAGR)    8.82% (2025 - 2034)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2034
    Historical Data 2019 - 2023
    Market Forecast Units USD Billion
    Key Companies Profiled Crompton Greaves, Siemens, Mitsubishi Electric, Schneider Electric, Nelco, Hitachi, General Electric, Eaton, ABB, KEI Industries, Hyundai Electric, LS Electric, CG Power and Industrial Solutions, Havells India, Toshiba
    Segments Covered Type, Application, Voltage Rating, Power Rating, Regional
    Key Market Opportunities Increased grid integration of renewables Voltage regulation advancements Growing demand for power quality Expansion of transmission networks Enhanced stability and reliability
    Key Market Dynamics Increasing renewable energy integration, growing demand for grid stability, technological advancements, government initiatives and rising awareness of carbon emissions
    Countries Covered North America, Europe, APAC, South America, MEA

    FAQs

    What is the current market size of the Renewable-Based Shunt Reactor Market?

    The Renewable-Based Shunt Reactor Market is expected to reach 1.08 Billion USD in 2025.

    What is the projected CAGR of the Renewable-Based Shunt Reactor Market?

    The Renewable-Based Shunt Reactor Market is expected to grow at a CAGR of 8.82% from 2025 to 2034.

    What is the expected market size of the Renewable-Based Shunt Reactor Market in 2034?

    The Renewable-Based Shunt Reactor Market is expected to reach 2.31 Billion USD by 2034.

    Which region is expected to hold the largest market share in the Renewable-Based Shunt Reactor Market?

    North American region is expected to hold the largest market share in the Renewable-Based Shunt Reactor Market.

    What are the key applications of Renewable-Based Shunt Reactors?

    Renewable-Based Shunt Reactors are primarily used in power transmission systems to control voltage and improve power quality.

    Who are the key competitors in the Renewable-Based Shunt Reactor Market?

    Key competitors in the Renewable-Based Shunt Reactor Market include Siemens, ABB, and General Electric.

    What are the key factors driving the growth of the Renewable-Based Shunt Reactor Market?

    The growth of the Renewable-Based Shunt Reactor Market is driven by increasing demand for renewable energy sources and the need for efficient power transmission.

    What are the challenges faced by the Renewable-Based Shunt Reactor Market?

    Challenges faced by the Renewable-Based Shunt Reactor Market include technological limitations and competition from conventional shunt reactors.

    What are the opportunities for growth in the Renewable-Based Shunt Reactor Market?

    Opportunities for growth in the Renewable-Based Shunt Reactor Market include the development of new technologies and the expansion of renewable energy installations.

    What are the key trends in the Renewable-Based Shunt Reactor Market?

    Key trends in the Renewable-Based Shunt Reactor Market include the adoption of smart grids and the integration of renewable energy sources into power transmission systems.

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