Pune, India, December, 2017/MRFR Press Release/- Market Research Future published a Cooked research report on “Global Shunt Reactors Market Research Report - Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Shunt Reactors Global Market – Overview
The Global Shunt Reactors Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Shunt Reactors will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
Shunt reactors increase efficiency in the transmission line. This resulted into the growing transmission and distribution business which directly translates into increase in demand for the shunt reactors. Global rise in the demand for energy is one of the prime factors driving the market. Rapid increase in the infrastructural activities in the Asia-Pacific region is further going to push the demand in the shunt reactor market.
The rapid growth in economy and the population expansion have led to the increase in the consumption of power. Due to the development of the countries and the improvement in the standard of living, there is a higher demand for the energy consumptions. In case of the nation experiencing higher economic growth, the demand for improved housing will increase, which will also increase the requirement for energy for the construction purpose. Hence, many countries around the world are expanding and upgrading their electric grid infrastructure, so as to fulfil the growing demand of power and margining of grid to form inter grid connection. These developments are expected to provide vital groundwork for shunt capacitor market.
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According to World Bank, the consumption of electric power has been increased consistently. In 2014, the consumption of electricity was 3,144.4 kWh per capita as compared to 2,956.6 in 2010.
The growing attention and substantial investment in renewable power energy generation is rigorously driving the global Shunt Reactors market. Major economies around the world are highly focusing on developing the renewable energy power generation so as to reduce their dependency on conventional power generation through fossil fuels. Renewable energy currently holds a substantial share in total global energy production. In 2016, World Energy Council quoted that, hydropower accounted for about 30% of the total global installed power generating capacity and about 23% of total global electricity produced.
The tremendous yearly addition in capacity of renewable energy is certainly required the strong transmission and distribution network which ultimately increase the demand of Shunt Reactors.
Despite the Shunt Reactors are easy to use and is simple in installation, high initial investment is the major factor that may hamper the growth of the market. A Shunt Reactors improves the quality of the electrical supply and enables efficient operation of the power system. It requires a well-established infrastructure with prime equipment and other amenities. The overall initial capital investment is high, this is due to the cost associated to current advanced technology, raw material, man power and other major factors. Shunt Reactors plants requires high amount of land acquisition, large scale construction equipment and material, machineries and ancillaries associated and man power, this overall constitute for huge initial capital cost.
Key Players: Zaporozhtransformator (Ukraine), ABB Limited (Switzerland), Alstom (France), Siemens AG (Germany), Crompton Greaves (India), Tebian Electric Apparatus Stock Company Ltd. (China), Hyundai Heavy Industries (Korea), Fuji Electric (Japan), Mitsubishi Electric Corporation (Japan), and Toshiba (Japan). and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Shunt Reactors Market. Industry/ Innovation/ Related News: Feb, 2014 - ABB, the leading power and automation technology group, won orders worth around $56 million from Power Grid Corporation of India Ltd., India’s central power transmission utility, to supply power transformers and shunt reactors for substations being built to support the country’s ultrahigh voltage transmission grid development. The orders were booked in the fourth quarter of 2013 and in the first quarter of 2014.
January, 2014– Alstom Grid in Turkey will supply two shunt reactors for TenneT, the transmission system operator for Germany and the Netherlands, to improve grid stability across its transmission lines. These shunt reactors will be the first manufactured by Alstom’s Gebze site for the German market and are due for commissioning in 2015.
December, 2013 - Alstom T&D India won an order worth approximately INR 790 million (€9 million) from Powergrid Corporation of India Limited (PGCIL) to provide 14 shunt reactors for the 765 kV electrical substations at Kanpur and Jhatikara in the Uttar Pradesh state. The projects were due for delivery in 2015.
Shunt Reactors Market – Segmentation The Global Shunt Reactors Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding; Segmentation by Type : Comprises Oil Immersed and Air-Core Dry. Segmentation by Application : Comprises Electrical Utilities and Industrial VerticalsSegmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.Shunt Reactors Market: Regional Analysis Increased investment in utilities in the Asia-pacific region is one of the main sources of increased demand in the shunt reactors market. Increasing number of transmission and distribution projects undertaken in this region is pushing the sales in the market. North America closely follows Asia-Pacific in terms of demand mainly due to a well-established transmission and distribution sector.