The Asia Pacific excluding Japan (APEJ) shunt reactor market is participating in meteoric development, largely driven by government-backed initiatives to offer power throughout off-grid areas. The government initiatives are propelling growth in the Asia Pacific excluding Japan’s (APEJ) shunt reactor market. Further, the rising innovations are creating immense opportunities for the key players to extend their presence throughout the world.
The growth of the global shunt reactor market is linearly associated with energy demand worldwide, states a new study by Future Market Insights (FMI). Consumption of primary energy stood globally at 576 exajoules in 2019, with China, the US, and India leading the way. Alerted by increasing carbon footprint, the industrial sector is rapidly investing in renewables, which made up for around 40% of worldwide growth in primary energy in 2019, finds the study.
The FMI report further opines that market players must innovate shunt reactors to meet the needs for power quality and voltage stability with grid integration of renewable energy sources.
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Shunt Reactor Market Size Study
- Air-core dry-type shunt reactors to witness greater traction through 2030
- Adoption of variable shunt reactors (VSR) to accelerate in the near future
- High demand for shunt reactors came from the industrial sector over the following decade
- Single-phase shunt reactors to gain momentum
- Market players to turn to the Asia Pacific excluding Japan (APEJ) for potential growth avenues
“The networks for distributing and transmitting electrical energy are confronting new demands owing to changes in load structure and power generation. Both environmental and commercial drivers are contributing to this demand, and so does power quality. As the complexity of these systems is scaling up, adoption of shunt reactors is surging as they are reliable and cost-effective solutions,” says an analyst at FMI.
Shunt Reactor Manufacturers – Players to Race towards Grabbing Contracts and Agreements for Better Margins
- Players in shunt reactor market are focusing on developing similar equipment and, as such, giving rise to cut-throat competition with their peers. Innovations and enhanced voltage protection solutions will ascertain the prominence of leading manufacturers in key growth regions. shunt reactor market players are striving to secure contracts as well as enter into agreements in order to gain competitive edge.
- Zaporozhtransformator PJSC has signed agreement with Tokmak Solar Energy Ltd., for delivery of its transformer – TRDN-32000/150-Y1.
- Siemens AG has acquired order from Semco Maritime for supply of key electrical equipment for electrical service platform (ESP) at 1.6-GW Mayflower Wind offshore wind farm project. The contract comprise of high-voltage equipment such as integrated conditioning monitoring system, three shunt reactors, and gas-insulated switchgear (GIS).
- Trench Group – a multi-national power engineering company – has acquired contract to deliver and set up highest voltage (420 kV) air-core shunt reactor in the world to Germany-based transmission system operator.
- Through its power grids business, ABB Ltd., has entered into a 5-year contract with Interconexion Electrica SA ESP (ISA) for delivery of critical power machinery for ISA’s operations in South America.
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Shunt Reactor Market – Competitive Intelligence
The global shunt reactor market is highly competitive, as leading players are striving to capture value at stake. Manufacturers are focusing on designing innovative solutions to serve diverse applications. For instance,
- Trench Group develops air-core shunt reactors that stretch from small kVAr units for use cases including, limiting capacitor bank inrush, to large power reactors for myriads of use cases including, shunt reactors that are over 100 MVA per coil.
- Zaporozhtransformator PJSC is developing magnetically controlled shunt reactors (MCSR) to implement flexible AC transmission systems (FACTS) projects.
- Siemens AG has developed 100 MVAr variable shunt reactors for HOPS to address the challenges of excess reactive power regulation and high transmission voltages.
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