North America Shunt Reactor Market Size - By Phase (Single Phase, Three Phase), By Insulation (Oil Immersed, Air Core), By Product (Fixed Shunt Reactor, Variable Shunt Reactor), By End Use (Electric Utility, Renewable Energy) & Forecast, 2023

Description

List of Tables

North America Shunt Reactor Market will witness 5.6% CAGR between 2023 and 2032, attributed to emerging companies offering reactors to diverse industries. These entities cater to the increasing need for shunt reactors in power systems, enabling voltage stabilization and grid efficiency.

For instance, in November 2021, Siemens Energy was chosen to provide the primary electrical components for Dominion Energy's Coastal Virginia Offshore Wind (CVOW) project's grid connection. This massive 2.6-GW wind farm, set to accommodate around 180 turbines, stood as the United States' most expansive offshore wind initiative. Siemens Energy's role involved supplying the high-voltage electrical gear for three offshore substations, each with an 800-MW capacity. Semco Maritime received a package for each substation, consisting of three shunt reactors, three power transformers, one medium-voltage gas-insulated switchgear (GIS), and three high-voltage GIS systems from the company.

With a surge in renewable energy integration and grid modernization initiatives, companies providing these reactors play a pivotal role. Their contribution meets the escalating demand for reactive power compensation, supporting stable and reliable electricity transmission across various sectors in North America.

The overall North America Shunt Reactor Market share is classified based on the phase, products, and region.

Single phase segment will undergo significant development from 2023 to 2032. Single-phase shunt reactors help stabilize voltage and manage power flow in electrical systems. Their significance in applications like distribution networks and transmission lines drives market growth. As the energy landscape evolves, especially with renewable energy integration and grid enhancements, the demand for single-phase shunt reactors surges. Their ability to optimize power transmission and ensure grid stability makes them vital in North America's electrical infrastructure.

North America shunt reactor market size from the variable segment will register a noteworthy CAGR from 2023 to 2032. Shunt reactors adapt to varying voltage levels and fluctuating loads in electrical grids. Their flexibility addresses evolving energy needs, especially in systems with variable power generation sources like renewables. As the region embraces diverse energy sources, shunt reactors become indispensable. Their capability to regulate voltage and manage grid stability amidst changing energy dynamics amplifies their demand, positioning them as essential components supporting the integration of variable energy products in North America's evolving power infrastructure.

Canada shunt reactor industry will showcase a commendable CAGR from 2023 to 2032. Shunt reactors play a pivotal role in voltage stabilization and grid reliability crucial for Canada's extensive electricity network. With a focus on grid modernization and integration of renewable energy, these reactors are integral components. As Canada strives for a sustainable energy future, the demand for shunt reactors rises, reflecting their essential role in ensuring efficient power transmission and maintaining grid stability across the diverse Canadian landscape.

Product Code: 7297

Chapter 1 Methodology & Scope

1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid
  - 1.4.2.2 Public

Chapter 2 North America Shunt Reactor Industry Insights

2.1 Industry ecosystem analysis
- 2.1.1 Vendor matrix
2.2 Regulatory landscape
2.3 Industry impact forces
- 2.3.1 Growth drivers
- 2.3.2 Industry pitfalls & challenges
2.4 Growth potential analysis
2.5 Porter's Analysis
- 2.5.1 Bargaining power of suppliers
- 2.5.2 Bargaining power of buyers
- 2.5.3 Threat of new entrants
- 2.5.4 Threat of substitutes
2.6 PESTEL Analysis

Chapter 3 Competitive Benchmarking

3.1 Innovation & sustainability landscape
3.2 Competitive landscape, 2022
- 3.2.1 Strategic dashboard

Chapter 4 North America Shunt Reactor Market, By Phase (USD Million)

4.1 Key phase trends
4.2 Single phase
4.3 Three phase

Chapter 5 North America Shunt Reactor Market, By Insulation (USD Million)

5.1 Key insulation trends
5.2 Oil Immersed
5.3 Air Core

Chapter 6 North America Shunt Reactor Market, By Product (USD Million)

6.1 Key product trends
6.2 Fixed shunt reactor
6.3 Variable shunt reactor

Chapter 7 North America Shunt Reactor Market, By End Use (USD Million)

7.1 Key end use trends
7.2 Electric utility
7.3 Renewable energy

Chapter 8 North America Shunt Reactor Market, By Country (USD Million)

8.1 Key country trends
8.2 U.S.
8.3 Canada

Chapter 9 Company Profiles

9.1 Hyosung Heavy Industries
9.2 General Electric
9.3 Siemens Energy
9.4 Toshiba Corporation
9.5 Fuji Electric Co., Ltd.
9.6 Nissin Electric Co., Ltd.
9.7 Hitachi Energy Ltd.
9.8 Elgin Power Solutions
9.9 Shrihans Electricals Pvt. Ltd.
9.10 WEG
9.11 SGB SMIT
9.12 CHINT Group
9.13 MEIDENSHA CORPORATION
9.14 JSHP Transformer
9.15 Alstom