Pune, India -- (SBWIRE) -- 07/09/2018 -- Market Overview:-
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 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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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 Verticals
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Industry TopKey Players:-

Some of the key players in the Shunt Reactor market are 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).

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.

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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.