Single Phase Fixed Shunt Reactor Market Research Report: By Application (Power Factor Correction, Voltage Regulation, Harmonic Mitigation, Reactive Power Management), By End-User Industry (Energy and Utilities, Industrial and Manufacturing, Data Center and Telecommunications, Renewable Energy), By Voltage Rating (Up to 1 kV, 1-33 kV, 33-66 kV, Above 66 kV), By Cooling Type (Oil-immersed, Dry-type, Cast-resin, Vacuum) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Single Phase Fixed Shunt Reactor Market Overview

As per MRFR analysis, the Single Phase Fixed Shunt Reactor Market Size was estimated at 1.51 (USD Billion) in 2022. The Single Phase Fixed Shunt Reactor Market Industry is expected to grow from 1.59 (USD Billion) in 2023 to 2.5 (USD Billion) by 2032. The Single Phase Fixed Shunt Reactor Market CAGR (growth rate) is expected to be around 5.16% during the forecast period (2024 - 2032).

Key Single Phase Fixed Shunt Reactor Market Trends Highlighted

Single-phase fixed shunt reactor market growth is majorly driven by increasing electricity consumption, particularly from renewable energy sources like solar energy or wind which has variable output and intermittent nature. In order to provide support to the grid and to ensure that there is a constant supply of power, single phase fixed shunt reactors are used to control both the power factor and the voltage of the system. Among the factors that should be exploited in the global single-phase fixed shunt reactor market are the increase in power grid construction in developing countries, the implementation of smart grids, and the proliferation of energy-efficient products. Geographic expansion toward new power reactors has considerable prospects due to progress in design and construction ideas of machinery; for example, composite materials and new cooling systems are helping to realize better performance with less maintenance cost. Recently, we have witnessed the evolution of the market for single-phase fixed shunt reactors towards the increasing compactness of reactors at a lightweight and, if required, designed for specific grid requirements. The recent push for innovation has made it possible to come up with more energy-efficient reactors that are also less noisy and, thus, less harmful to the environment. It has also become possible because of the digitalizing of processes that made it possible to oversee and operate reactors remotely, bolstering the stability of the grid and curtailing the cost of operations.

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

Single Phase Fixed Shunt Reactor Market Drivers

Rising Demand for Reliable and Efficient Power Transmission

The increasing need for reliable and efficient power transmission is a major driver of the Single Phase Fixed Shunt Reactor Market. As the demand for electricity continues to grow, so does the need for infrastructure that can transmit power over long distances with minimal losses. Single phase fixed shunt reactors play a crucial role in this by providing reactive power compensation, which helps to maintain voltage stability and reduce power losses.The growing emphasis on grid modernization and the integration of renewable energy sources, which often have intermittent power generation profiles, is further driving the demand for single phase fixed shunt reactors. The Single Phase Fixed Shunt Reactor Market is expected to witness significant growth in the coming years. The rising demand for reliable and efficient power transmission, coupled with the increasing adoption of renewable energy sources, is expected to drive the growth of the market.Additionally, the growing focus on grid modernization and the need to reduce power losses are also expected to contribute to the growth of the market. Some of the key trends in the Single Phase Fixed Shunt Reactor Market include The increasing adoption of smart grid technologies, The growing demand for renewable energy sources, The need to reduce power losses The rising focus on grid modernization. These trends are expected to continue to drive the growth of the Single Phase Fixed Shunt Reactor Market in the coming years.

Technological Advancements and Innovation

Technological advancements and innovation are also playing a significant role in the growth of the Single Phase Fixed Shunt Reactor Market. Manufacturers are continuously investing in research and development to improve the efficiency, reliability, and cost-effectiveness of their products. This is leading to the development of new and innovative single phase fixed shunt reactors that are better suited to meet the needs of the evolving power grid. The increasing adoption of digital technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), is also having a positive impact on the growth of the market. These technologies are enabling the development of smart single phase fixed shunt reactors that can be remotely monitored and controlled. This is helping to improve the efficiency and reliability of power transmission and distribution networks. Some of the key technological advancements in the Single Phase Fixed Shunt Reactor Market include The development of new materials and manufacturing processes, The adoption of digital technologies The integration of renewable energy sources. These advancements are expected to continue to drive the growth of the Single Phase Fixed Shunt Reactor Market in the coming years.

Stringent Government Regulations and Environmental Concerns

Stringent government regulations and environmental concerns are also driving the growth of the Single Phase Fixed Shunt Reactor Market. Governments around the world are increasingly implementing regulations to reduce greenhouse gas emissions and promote the use of renewable energy sources. This is leading to a greater demand for efficient and reliable power transmission infrastructure, which includes single phase fixed shunt reactors. Additionally, the growing awareness of the environmental impact of power generation and transmission is leading to a greater demand for sustainable solutions.Single phase fixed shunt reactors can help to reduce power losses and improve the efficiency of power transmission, which can help to reduce greenhouse gas emissions. Some of the key government regulations and environmental concerns that are driving the growth of the Single Phase Fixed Shunt Reactor Market include: The increasing adoption of renewable energy sources, The need to reduce greenhouse gas emissions, The growing awareness of the environmental impact of power generation and transmission These regulations and concerns are expected to continue to drive the growth of the Single Phase Fixed Shunt Reactor Market in the coming years.

Single Phase Fixed Shunt Reactor Market Segment Insights:

Single Phase Fixed Shunt Reactor Market Application Insights

The Single Phase Fixed Shunt Reactor Market segmentation by Application can be categorized into Power Factor Correction, Voltage Regulation, Harmonic Mitigation, and Reactive Power Management. The Power Factor Correction segment accounted for the largest revenue share in 2023 and is projected to maintain its dominance throughout the forecast period. This is primarily due to the increasing demand for efficient power transmission and distribution systems, which require the use of shunt reactors to improve power factors and reduce energy losses.The Voltage Regulation segment is expected to experience significant growth over the forecast period, driven by the need to maintain stable voltage levels in electrical grids. The Harmonic Mitigation segment is projected to grow steadily, owing to the rising concerns regarding the negative impact of harmonics on power quality. The growth of the market is attributed to the increasing demand for reliable and efficient power transmission and distribution systems, coupled with rising concerns regarding power quality.

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

Single Phase Fixed Shunt Reactor Market End-User Industry Insights

The Single Phase Fixed Shunt Reactor Market segmentation by End-User Industry offers valuable insights into the diverse application areas of these reactors. The Energy and Utilities segment holds a significant market share, driven by the growing demand for reliable and efficient power distribution and transmission systems. In 2024, this segment is projected to account for approximately 45% of the Single Phase Fixed Shunt Reactor Market revenue. Industrial and Manufacturing industries follow closely, leveraging these reactors to enhance the stability and efficiency of their electrical systems.This segment is estimated to contribute around 30% to the market revenue in 2024. Data Center and Telecommunications industries are also witnessing substantial growth due to the increasing demand for uninterrupted power supply and data transmission. Their contribution to the market revenue is expected to reach nearly 18% in 2024. Renewable Energy sources, such as solar and wind power, are gaining traction, driving the demand for Single Phase Fixed Shunt Reactors to regulate voltage fluctuations and improve grid stability. This segment is anticipated to account for approximately 7% of the market revenue in 2024.

Single Phase Fixed Shunt Reactor Market Voltage Rating Insights

The Single Phase Fixed Shunt Reactor Market is segmented by voltage rating into Up to 1 kV, 1-33 kV, 33-66 kV, and Above 66 kV. Among these, the 1-33 kV segment held the largest market share in 2023, accounting for over 40% of the global market revenue. This dominance is attributed to the extensive use of 1-33 kV voltage levels in distribution networks and industrial applications. The Up to 1 kV segment is expected to witness significant growth during the forecast period due to its increasing adoption in low-voltage distribution systems and renewable energy applications.The 33-66 kV segment is projected to maintain a steady growth rate, driven by the growing demand for shunt reactors in transmission and distribution networks. The Above 66 kV segment is expected to experience moderate growth, primarily driven by the need for high-voltage shunt reactors in extra high voltage (EHV) transmission systems. Overall, the voltage rating segmentation provides insights into the diverse applications and growth prospects of single phase fixed shunt reactors across different voltage levels.

Single Phase Fixed Shunt Reactor Market Cooling Type Insights

Cooling Type The Single Phase Fixed Shunt Reactor Market is segmented by Cooling Type into Oil-immersed, Dry-type, Cast-resin, and Vacuum. Among these, the Oil-immersed segment held the largest market share in 2023, accounting for over 40% of the Single Phase Fixed Shunt Reactor Market revenue. The Dry-type segment is expected to witness the fastest growth during the forecast period, owing to its advantages such as low maintenance, compact size, and high efficiency. The Cast-resin segment is also expected to grow at a significant rate due to its ability to withstand harsh environmental conditions and its long lifespan.The Vacuum segment is expected to account for a small share of the Single Phase Fixed Shunt Reactor Market revenue in 2023, but it is expected to grow at a steady pace during the forecast period.

Single Phase Fixed Shunt Reactor Market Regional Insights

The Single Phase Fixed Shunt Reactor Market is segmented into 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 a large number of power plants and industries in the region. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness the highest growth rate during the forecast period, due to the increasing demand for electricity in the region. South America and MEA are expected to account for a smaller share of the market.

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

Single Phase Fixed Shunt Reactor Market Key Players And Competitive Insights:

Major players in the Single Phase Fixed Shunt Reactor Market industry are continually innovating and advancing their offerings to remain competitive. Leading Single Phase Fixed Shunt Reactor Market players are investing in research and development to introduce new products and technologies that meet the evolving demands of customers. Through strategic partnerships and acquisitions, Single Phase Fixed Shunt Reactor Market development is expected to accelerate, allowing players to expand their global reach and product portfolios. The Single Phase Fixed Shunt Reactor Market Competitive Landscape is anticipated to intensify as new entrants emerge and established players seek to maintain their market share.A prominent player in the Single Phase Fixed Shunt Reactor Market, CG Power and Industrial Solutions Limited holds a strong position due to its extensive product portfolio, global presence, and long-standing expertise in the electrical industry. The company caters to a diverse range of industries, including power generation, transmission, and distribution. CG Power's commitment to research and development has enabled them to develop innovative Single Phase Fixed Shunt Reactor solutions that meet the specific requirements of their customers.Siemens Energy, another leading company in the Single Phase Fixed Shunt Reactor Market, has established a strong presence through its advanced technology and commitment to quality. The company offers a wide range of Single Phase Fixed Shunt Reactors designed to enhance power transmission efficiency and reliability. Siemens Energy's global reach, coupled with its focus on innovation, positions them as a formidable competitor in the market. The company's commitment to sustainability and energy efficiency aligns with the growing demands of customers and regulatory bodies.

Key Companies in the Single Phase Fixed Shunt Reactor Market Include:

• Siemens


• Larsen Toubro


• Mitsubishi Electric


• Schneider Electric


• Hyundai Electric Energy Systems


• Hitachi


• Wuxi HighVoltage Electric Apparatus


• General Electric


• Eaton


• ABB


• Havells India


• Crompton Greaves


• T India


• CG Power and Industrial Solutions


• Toshiba

Single Phase Fixed Shunt Reactor Market Industry Developments

The Single Phase Fixed Shunt Reactor Market is projected to reach USD 1.59 billion by 2023 and USD 2.5 billion by 2032, exhibiting a CAGR of 5.16% during the forecast period.Major market drivers include increasing demand for electricity, rising investments in power transmission and distribution infrastructure, and the integration of renewable energy sources. Growth is also attributed to the expanding industrial sector and urbanization in emerging economies.Key players in the market include ABB, Siemens, Schneider Electric, and General Electric. Recent developments include the launch of new products with advanced features and the expansion of production capacities to meet growing demand.

Single Phase Fixed Shunt Reactor Market Segmentation Insights

• Single Phase Fixed Shunt Reactor Market Application Outlook
  
  
  
  • Power Factor Correction
  
  
  • Voltage Regulation
  
  
  • Harmonic Mitigation
  
  
  • Reactive Power Management
  
  
  
  

• Single Phase Fixed Shunt Reactor Market End-User Industry Outlook
  
  
  
  • Energy and Utilities
  
  
  • Industrial and Manufacturing
  
  
  • Data Center and Telecommunications
  
  
  • Renewable Energy
  
  
  
  

• Single Phase Fixed Shunt Reactor Market Voltage Rating Outlook
  
  
  
  • Up to 1 kV
  
  
  • 1-33 kV
  
  
  • 33-66 kV
  
  
  • Above 66 kV
  
  
  
  

• Single Phase Fixed Shunt Reactor Market Cooling Type Outlook
  
  
  
  • Oil-immersed
  
  
  • Dry-type
  
  
  • Cast-resin
  
  
  • Vacuum
  
  
  
  

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