The global shunt reactor market to grow at a CAGR of 7.37% during the period 2017-2021.
Global Shunt Reactor Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the new installations/value and exclude spares/aftermarket/services market.
According to the report, one of the major drivers for this market is Renewable power generation capacity expansion. As of 2014, the US and China together lead the global power generation capacity, with China’s capacity anticipated to expand exponentially till 2035. Majority of the expansion is toward renewable energy, with major countries increasing the adoption of renewables such as solar and wind energy to adhere to stringent carbon emission goals. Many end-users are adopting alternative forms of energy to avoid their dependence on power generators that operate on fossil fuels. Wind power, solar power, and other forms of renewable energy are gaining popularity among all categories of electricity end-users. As per the Global Wind Energy Council (GWEC), the installation of total wind power in the European Union was 142 GW in 2016, of which onshore installed capacity was about 92% and the remaining was based on offshore facilities.
The latest trend gaining momentum in the market is Emergence of smart grids. One of the major trends in the market is the emergence of smart grids. Smart grids comprise intelligent functions that help in improving energy efficiency. Smart grids offer enhanced reliability, efficiency, and availability in the power industry, which contribute to their overall development. Certain criticalities such as technological improvements, educating the consumers, and developing standards and regulations related to smart grids are important for successful incorporation of a smart grid network.
Further, the report states that one of the major factors hindering the growth of this market is Reduced earnings of the global power distribution sector. Upgrading the grid systems has various other associated capital burdens of replacements and retrofitting of equipment such as cables, power systems, and controls. As a result, to meet the high energy demand, third-party aggregators and power utilities are already undergoing huge capital expenditure. This escalation may stem from aging power infrastructure and the increased need for renewable power grid integration. This means that the average cost of deploying smart grid technologies by utilities will range from $17 billion to $24 billion a year. In addition, power utilities remain reluctant to upgrade their power grids (to attain compatibility with smart grid solutions) owing to the heavy investments involved. Therefore, various smart grid solutions are in high demand among power utilities. This is expected to have a significant impact on the growth of the global smart grid T&D equipment market and in turn impact the shunt reactor market as well.
- CG Power and Industrial Solutions
- TBEA HENGYANG TRANSFORMER
Other prominent vendors
- Beijing Power Equipment Group (BPEG)
- Fuji Electric
- General Electric
- Mitsubishi Electric
- PJSC Zaporozhtransformator
- Toshiba Energy Systems & Solutions
- Transformers & Rectifiers
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By End-User
Part 07: Geographical Segmentation
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/dfrbk8/global_shunt?w=5
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets