Shunt Reactor Market Highlights:-
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.
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.
Top Key Players:-
Tebian Electric Apparatus Stock Company Ltd. (China),Zaporozhtransformator (Ukraine), ABB Limited (Switzerland), Alstom (France), Siemens AG (Germany), Crompton Greaves (India), 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.
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Latest Industry News:-
The Rwanda Energy Group (REG) has installed equipment intended to absorb reactive power. This is an attempt to increase the efficiency and stability of the power system, and avert damages that might be caused by excess voltage. 30 MAY 2018
SNC-Lavalin, a global fully integrated professional services, and project management company, has been awarded a US $70 mn contract to provide engineering and procurement services for three substations at UAE-based Meydan Group’s project in Dubai. 24 JUL 2018
Market Segmentation:-
The global shunt reactor market has been segmented on the basis of application, types, and lastly, region. On the basis of application, the market has been segmented into electrical utilities and industrial verticals. Mostly a public utility, an electrical utility is a company in the electric power industry that engages in electricity generation and distribution of electricity for sale in the market. An industry vertical is defined as specific, identifying companies that offer niche products or fit into multiple industries. By type, the market has been segmented into air-core dry and oil-immersed. Air-core dry-type reactors are mainly employed not only in electric power transmission & distribution systems but also in electric power systems of electrical plants. Dry-type reactors for higher voltages are not always suitable in heavily polluted areas due to the risk of dielectric failure. In such cases, oil-immersed reactors are considered more reliable. In order to avoid excessive heating in the tank, a frame of laminated core steel is always enclosed with the oil-immersed reactor winding.
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Regional Analysis of Shunt Reactors Market:-
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.
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