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Shunt Reactor Market and its key Opportunities and Challenges

Shunt Reactor Market and its key Opportunities and Challenges
Key companies to provide shunt reactors are GE (US), Siemens (Germany), ABB (Switzerland), Fuji Electric (Japan), Mitsubishi Electric (Japan), CG (India), Nissin Electric (Japan), Zaporozhtransformator (Ukraine), TBEA (China), Toshiba (Japan), and Hilkar (Turkey).
The major drivers of the shunt reactor market include increasing demand for electricity, upgradation of the aging technology, and modernization of the T&D network.

The global Shunt Reactor Market was valued at USD 2.46 billion in 2016 and is projected to reach USD 3.19 billion by 2022, at a CAGR of 4.56%, from 2017 to 2022 as per a report by MarketsandMarkets. 

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=88691138

Why increase in power generation capacity continue to offer more opportunities?

With the increase in world population, the demand for electricity is also increasing. Various developing nations are engaged in expanding their power generation capacity to provide electricity to a wider population. Because of industrialization and urbanization, demand for electricity increases, with increasing number of power plants. As more number of power plants are being constructed to cater the demand, investment toward strengthening the grid along with supporting infrastructures such as transformers and reactors would also grow.

Why low-quality products and development of alternate technologies remain a major challenge?

Established market players are currently facing issues due to the presence of grey market players. Grey market players, primarily from the North Asian regions such as China and Korea, are posing as a threat due to their competence of supplying cheap and low-quality products. These market players overpower the key players in terms of price competitiveness and the local supply network maintained by them, which is difficult for global players to achieve.

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Growing focus toward grid reliability and energy loss minimization during transmission, led to the introduction and development of alternate technologies such as FACTS (Flexible AC Transmission System), HVDC systems, and so on. Conventional methods of grid stabilization (using devices such as capacitors) have their own imbibed limitations in terms of effective performance and speed and are gradually paving the way for more efficient technologies such as FACTS and HVDC systems.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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