Shunt Reactor Market by Type (Oil-Immersed and Air-Core), Application (Variable Reactors and Fixed Reactors), End-User (Electrical Utilities and Industrial Verticals), and Region (North America, Europe, Asia Pacific, and South America) - Global Forecast to 2022

 Published On: Nov, 2017 |    No of Pages: 121 |  Published By: MarketsandMarkets | Format: PDF
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The shunt reactor market is projected to grow at a CAGR of 4.56% from 2017 to 2022

The shunt reactor market is estimated to reach USD 2.56 billion in 2017 and is projected to reach USD 3.19 billion by 2022, at a CAGR of 4.56% from 2017 to 2022. The increasing demand for electricity, upgrading of the aging technology in developing countries, and the addition of high voltage transmission lines are the driving factors for the shunt reactor market. Developing nations are currently increasing their power generation capacity to satisfy the growing energy demands. Industrialization and urbanization are being majorly seen in the Asia Pacific region, which houses two of the fastest growing economies in the world, India and China. The growing focus toward grid reliability and energy loss minimization during transmission led to the introduction and development of alternative technologies such as FACTS (Flexible AC Transmission System) and HVDC systems act as restraints for the shunt reactor market.

The oil-immersed type segment is expected to grow at the highest CAGR from 2017 to 2022

Oil-immersed reactors are expected to be the largest market during the forecast period. The increase in the demand for electricity and rising investments in the T&D infrastructure leads to the addition of high voltage transmission lines to meet the demand for electricity. Thus, with an increase in the T&D infrastructure, the demand for oil-immersed reactors is expected to increase.

The electric utilities end-user segment is expected to be the largest market during the forecast period

The electric utilities end-users segment is projected to have the largest market during the forecast period. The demand for electricity is increasing as various developing nations are engaged in expanding their power generation capacity to provide electricity. The process of industrialization demands the ever-growing need for electricity. The countries are going to renewable energy sources such building power plants to cater the demand for electricity. This would also lead to rising investments toward strengthening the grid along with supporting infrastructures such as transformers and reactors. As the demand for electricity rises, the electric utilities would require more reactors.

Asia Pacific is expected to grow at the highest CAGR from 2017 to 2022

The Asia Pacific region is currently the largest market for shunt reactors, followed by North America and Europe. China accounted for a majority share in Asia Pacific in 2014 and is projected to grow at the highest CAGR from 2017 to 2022. The increasing demand for shunt reactors in Asia Pacific is due to the growing investments in utilities, which would result in improved grid reliability. The addition of high voltage transmission network and rising investments in renewable sources are likely to attribute the growth of the shunt reactor market in the Asia Pacific region.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

• By Company Type: Tier 1- 40%, Tier 2- 35%, Tier 3- 25%
• By Designation: C-Level- 75%, Manager Level- 25%
• By Region: North America-15%, Europe-25%, Asia Pacific- 40%, Middle East and Africa-15%, South America-5%

Note: The tier of the companies has been defined based on their total revenue, as of 2016: Tier 1 = >USD 5 billion, Tier 2 = > USD 0.5 billion to USD 5 billion, and Tier 3 = <USD 0.5 billion

Leading players in this industry have been profiled with their recent developments and other strategic activities. These include GE (US), Siemens (Germany), ABB (Switzerland), and Crompton Greaves (India).

Research Coverage:

From an insight perspective, this research report has focused on various levels of analysis, namely, industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the shunt reactor market, high-growth regions, and market drivers, restraints, and opportunities.

The report provides insights into the following pointers:

• Market Penetration: Comprehensive information on products and integrated solutions and services offered by the top players in the global shunt reactor market

• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the shunt reactor market

• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for shunt reactors across regions

• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global shunt reactor market
TABLE OF CONTENTS

1 INTRODUCTION 12
1.1 OBJECTIVES OF THE STUDY 12
1.2 MARKET DEFINITION 12
1.3 MARKET SCOPE 12
1.3.1 MARKETS COVERED 12
1.3.2 YEARS CONSIDERED FOR THE STUDY 13
1.4 CURRENCY 13
1.5 STAKEHOLDERS 13

2 RESEARCH METHODOLOGY 14
2.1 INTRODUCTION 14
2.1.1 SECONDARY DATA 15
2.1.1.1 Key data from secondary sources 15
2.1.2 PRIMARY DATA 16
2.1.2.1 Key data from primary sources 16
2.1.2.2 Key industry insights 17
2.1.2.3 Breakdown of primary interviews 17
2.2 MARKET SIZE ESTIMATION 18
2.2.1 BOTTOM-UP APPROACH 18
2.2.2 TOP-DOWN APPROACH 19
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 20
2.4 RESEARCH ASSUMPTIONS 21

3 EXECUTIVE SUMMARY 22

4 PREMIUM INSIGHTS 26
4.1 ATTRACTIVE OPPORTUNITIES IN THE SHUNT REACTOR MARKET 26
4.2 SHUNT REACTOR MARKET, BYCOUNTRY, 2017-2022 27
4.3 SHUNT REACTOR MARKET, BY TYPE, 2017 & 2022 27
4.4 ASIA PACIFIC SHUNT REACTOR MARKET, BY COUNTRY & END-USER, 2016 28
4.5 SHUNT REACTOR MARKET, BY APPLICATION, 2017 28

5 MARKET OVERVIEW 29
5.1 INTRODUCTION 29
5.1.1 DRIVERS 29
5.1.1.1 Augmentation & modernization of transmission & distribution networks 29
5.1.1.2 Rising demand for electricity 30
5.1.1.3 Upgradation of aging technology in developed nations 30
5.1.1.4 High voltage transmission lines addition 31
5.1.2 RESTRAINTS 31
5.1.2.1 Development of alternate technologies 31
5.1.2.2 Low quality products 31
5.1.3 OPPORTUNITIES 31
5.1.3.1 Increase in power generation capacity 31
5.1.3.2 Adopting smart grid technology 32

6 SHUNT REACTOR MARKET, BY TYPE 33
6.1 INTRODUCTION 34
6.2 OIL-IMMERSED SHUNT REACTORS 35
6.3 AIR-CORE SHUNT REACTORS 38

7 SHUNT REACTOR MARKET, BY END-USER 41
7.1 INTRODUCTION 42
7.2 ELECTRIC UTILITIES 43
7.3 INDUSTRIAL VERTICALS 44

8 SHUNT REACTOR MARKET, BY APPLICATION 45
8.1 INTRODUCTION 46
8.2 VARIABLE SHUNT REACTOR 47
8.3 FIXED SHUNT REACTOR 47

9 SHUNT REACTOR MARKET, BY REGION 48
9.1 INTRODUCTION 49
9.2 ASIA PACIFIC 50
9.2.1 CHINA 53
9.2.2 INDIA 53
9.2.3 AUSTRALIA 54
9.2.4 JAPAN 54
9.2.5 REST OF ASIA PACIFIC 55
9.3 NORTH AMERICA 56
9.3.1 US 58
9.3.2 CANADA 59
9.3.3 MEXICO 59
9.4 EUROPE 60
9.4.1 GERMANY 62
9.4.2 RUSSIA 62
9.4.3 UK 63
9.4.4 FRANCE 63
9.4.5 ITALY 64
9.4.6 SWEDEN 64
9.4.7 SPAIN 65
9.4.8 REST OF EUROPE 65
9.5 MIDDLE EAST & AFRICA 66
9.5.1 SAUDI ARABIA 67
9.5.2 SOUTH AFRICA 68
9.5.3 UAE 68
9.5.4 KUWAIT 69
9.5.5 QATAR 69
9.5.6 ALGERIA 70
9.5.7 NIGERIA 70
9.5.8 REST OF THE MIDDLE EAST & AFRICA 71
9.6 SOUTH AMERICA 71
9.6.1 BRAZIL 73
9.6.2 ARGENTINA 73
9.6.3 REST OF SOUTH AMERICA 74

10 COMPETITIVE LANDSCAPE 75
10.1 OVERVIEW 75
10.2 COMPETITIVE SCENARIO 76
10.2.1 CONTRACTS & AGREEMENTS 76
10.2.2 EXPANSIONS 81

11 COMPANY PROFILES 82 (Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 ABB 82
11.2 SIEMENS 86
11.3 CROMPTON GREAVES 89
11.4 GENERAL ELECTRIC 92
11.5 ZAPOROZHTRANSFORMATOR 96
11.6 FUJI ELECTRIC 99
11.7 TOSHIBA 101
11.8 MITSUBISHI ELECTRIC 103
11.9 NISSIN ELECTRIC 105
11.10 TBEA 107
11.11 TRENCH GROUP 109
11.12 HILKAR 110

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View might not be captured in case of unlisted companies.

12 APPENDIX 111
12.1 INSIGHTS OF INDUSTRY EXPERTS 111
12.2 DISCUSSION GUIDE 112
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 114
12.4 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 116
12.5 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 116
12.6 AVAILABLE CUSTOMIZATIONS 117
12.7 RELATED REPORTS 118
12.8 AUTHOR DETAILS 119

LIST OF TABLES

TABLE 1 SHUNT REACTOR MARKET SNAPSHOT 22
TABLE 2 SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 34
TABLE 3 OIL-IMMERSED: SHUNT REACTOR MARKET SIZE, BY REGION, 2015–2022 (USD MILLION) 35
TABLE 4 NORTH AMERICA: OIL-IMMERSED SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 35
TABLE 5 EUROPE: OIL-IMMERSED SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 36
TABLE 6 ASIA PACIFIC: OIL-IMMERSED SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 36
TABLE 7 SOUTH AMERICA: OIL-IMMERSED SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 37
TABLE 8 MIDDLE EAST & AFRICA: OIL-IMMERSED SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 USD MILLION) 37
TABLE 9 AIR-CORE: SHUNT REACTOR MARKET SIZE, BY REGION, 2015–2022 (USD MILLION) 38
TABLE 10 NORTH AMERICA: AIR-CORE SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 38
TABLE 11 EUROPE: AIR-CORE SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 39
TABLE 12 ASIA PACIFIC: AIR-CORE SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 39
TABLE 13 SOUTH AMERICA: AIR-CORE SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 40
TABLE 14 MIDDLE EAST & AFRICA: AIR-CORE SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 40
TABLE 15 SHUNT REACTOR MARKET SIZE, BY END-USER, 2015–2022 (USD MILLION) 42
TABLE 16 ELECTRIC UTILITIES: SHUNT REACTOR MARKET SIZE, BY REGION, 2015–2022 (USD MILLION) 43
TABLE 17 INDUSTRIAL VERTICALS MARKET SIZE, BY REGION, 2015–2022 (USD MILLION) 44
TABLE 18 SHUNT REACTOR MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 46
TABLE 19 VARIABLE: SHUNT REACTOR MARKET SIZE, BY REGION, 2015–2022 (USD MILLION) 47
TABLE 20 FIXED: SHUNT REACTOR MARKET SIZE, BY REGION, 2015–2022 (USD MILLION) 47
TABLE 21 SHUNT REACTOR MARKET SIZE, BY REGION, USD MILLION, 2015–2022 (USD MILLION) 49
TABLE 22 ASIA PACIFIC: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 51
TABLE 23 ASIA PACIFIC: SHUNT REACTOR MARKET SIZE, BY END-USER, 2015–2022 (USD MILLION) 52
TABLE 24 ASIA PACIFIC: SHUNT REACTOR MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 52
TABLE 25 ASIA PACIFIC: SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 52
TABLE 26 CHINA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 53
TABLE 27 INDIA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 53
TABLE 28 AUSTRALIA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 54
TABLE 29 JAPAN: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 54
TABLE 30 REST OF ASIA PACIFIC: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 55
TABLE 31 NORTH AMERICA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 57
TABLE 32 NORTH AMERICA: SHUNT REACTOR MARKET SIZE, BY END-USER, 2015–2022 (USD MILLION) 57
TABLE 33 NORTH AMERICA: SHUNT REACTOR MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 57
TABLE 34 NORTH AMERICA: SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 58
TABLE 35 US: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 58
TABLE 36 CANADA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 59
TABLE 37 MEXICO: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 59
TABLE 38 EUROPE: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 60
TABLE 39 EUROPE: SHUNT REACTOR MARKET SIZE, BY END-USER, 2015–2022 (USD MILLION) 60
TABLE 40 EUROPE: SHUNT REACTOR MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 61
TABLE 41 EUROPE: SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 61
TABLE 42 GERMANY: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 62
TABLE 43 RUSSIA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 62
TABLE 44 UK: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 63
TABLE 45 FRANCE: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 63
TABLE 46 ITALY: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 64
TABLE 47 SWEDEN: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 64
TABLE 48 SPAIN: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 65
TABLE 49 REST OF EUROPE: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 65
TABLE 50 MIDDLE EAST & AFRICA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 66
TABLE 51 MIDDLE EAST & AFRICA: SHUNT REACTOR MARKET SIZE, BY END-USER, 2015–2022 (USD MILLION) 66
TABLE 52 MIDDLE EAST & AFRICA: SHUNT REACTOR MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 66
TABLE 53 MIDDLE EAST & AFRICA: SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 67
TABLE 54 SAUDI ARABIA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 67
TABLE 55 SOUTH AFRICA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 68
TABLE 56 UAE: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 68
TABLE 57 KUWAIT: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 69
TABLE 58 QATAR: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD THOUSAND) 69
TABLE 59 ALGERIA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD THOUSAND) 70
TABLE 60 NIGERIA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD THOUSAND) 70
TABLE 61 REST OF THE MIDDLE EAST & AFRICA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD THOUSAND) 71
TABLE 62 SOUTH AMERICA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 71
TABLE 63 SOUTH AMERICA: SHUNT REACTOR MARKET SIZE, BY END-USER, 2015–2022 (USD MILLION) 72
TABLE 64 SOUTH AMERICA: SHUNT REACTOR MARKET SIZE, BY APPLICATION, 2015–2022 (USD MILLION) 72
TABLE 65 SOUTH AMERICA: SHUNT REACTOR MARKET SIZE, BY COUNTRY, 2015–2022 (USD MILLION) 72
TABLE 66 BRAZIL: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 73
TABLE 67 ARGENTINA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 73
TABLE 68 REST OF SOUTH AMERICA: SHUNT REACTOR MARKET SIZE, BY TYPE, 2015–2022 (USD MILLION) 74
TABLE 69 CONTRACTS & AGREEMENTS, 2014–2017 76
TABLE 70 EXPANSIONS, 2014–2017 81

LIST OF FIGURES

FIGURE 1 MARKETS COVERED: SHUNT REACTOR MARKET SEGMENTATION 12
FIGURE 2 SHUNT REACTOR MARKET: RESEARCH DESIGN 14
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, & REGION 17
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 18
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 19
FIGURE 6 SHUNT REACTOR MARKET: MARKET ESTIMATION APPROACH & DATA TRIANGULATION METHODOLOGY 20
FIGURE 7 THE MARKET IN ASIA PACIFIC DOMINATED THE SHUNT REACTOR MARKET IN 2016 23
FIGURE 8 THE OIL-IMMERSED SEGMENT IS EXPECTED TO LEAD THE SHUNT REACTOR MARKET, BY TYPE, DURING THE FORECAST PERIOD 23
FIGURE 9 SHUNT REACTOR MARKET: APPLICATION SNAPSHOT 24
FIGURE 10 SHUNT REACTOR MARKET: END-USER SNAPSHOT 24
FIGURE 11 INCREASED DEMAND FOR ELECTRICITY IS EXPECTED TO DRIVE THE SHUNT REACTOR MARKET DURING THE FORECAST PERIOD 26
FIGURE 12 THE MARKETS IN CANADA & INDIA ARE EXPECTED TO HOLD THE GROWTH RATE DURING THE FORECAST PERIOD 27
FIGURE 13 THE OIL-IMMERSED SEGMENT IS EXPECTED TO GROW AT THE FASTEST PACE DURING THE FORECAST PERIOD 27
FIGURE 14 THE ELECTRIC UTILITIES SEGMENT IS EXPECTED TO LEAD THE SHUNT REACTOR MARKET DURING THE FORECAST PERIOD 28
FIGURE 15 THE VARIABLE REACTOR SEGMENT IS EXPECTED TO LEAD THE SHUNT REACTOR MARKET IN 2017 28
FIGURE 16 MARKET DYNAMICS FOR THE SHUNT REACTOR MARKET 29
FIGURE 17 SHUNT REACTOR MARKET SHARE (VALUE), BY TYPE, 2016 34
FIGURE 18 SHUNT REACTOR MARKET SHARE (VALUE), BY END-USER, 2016 42
FIGURE 19 SHUNT REACTOR MARKET SHARE (VALUE), BY APPLICATION, 2016 46
FIGURE 20 REGIONAL SNAPSHOT: RAPID GROWTH IN DEVELOPING MARKETS 49
FIGURE 21 ASIA PACIFIC SHUNT REACTOR MARKET SNAPSHOT 51
FIGURE 22 NORTH AMERICAN SHUNT REACTOR MARKET SNAPSHOT 56
FIGURE 23 COMPANIES ADOPTED CONTRACTS & AGREEMENTS & NEW EXPANSIONS TO CAPTURE THE MARKET 2014–2017 75
FIGURE 24 ABB: COMPANY SNAPSHOT 82
FIGURE 25 SIEMENS: COMPANY SNAPSHOT 86
FIGURE 26 CROMPTON GREAVES: COMPANY SNAPSHOT 89
FIGURE 27 GENERAL ELECTRIC: COMPANY SNAPSHOT 92
FIGURE 28 FUJI ELECTRIC: COMPANY SNAPSHOT 99
FIGURE 29 TOSHIBA: COMPANY SNAPSHOT 101
FIGURE 30 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT 103
FIGURE 31 NISSIN ELECTRIC: COMPANY SNAPSHOT 105
FIGURE 32 TBEA : COMPANY SNAPSHOT 107

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