North America is currently at the forefront of global shunt reactor market, primarily driven by well-established transmission and distribution industry.
Shunt reactor market is likely to grow at double-digit CAGR through 2030. North America is predicted to rule the global market for shunt reactors through 2030.
According to the FMI report, market participants must innovate shunt reactors in order to meet the needs for power quality and voltage stability with grid integration of renewable energy sources.
The global sales for shunt reactors witnessed a minor slowdown in the Covid-19 crisis as all the factories were closed and supply of only basic necessity goods was permitted. Since the lockdown has been lifted up to improve economic conditions, the manufacturing companies are trying hard to gain traction and attract customers globally through innovative launches and technological upliftments in 2021.
Request Sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-609
Shunt Reactor Market Size Study
“The networks for distributing and transmitting electrical energy is confronting new demands owing to changes in load structure and power generation. Both environmental and commercial drivers are contributing to this demand, so does power quality. As complexity of these systems is scaling up, adoption of shunt reactors is surging as they are reliable and cost-effective solution,” says analyst at FMI.
Customization Before Buying, Visit@
https://www.futuremarketinsights.com/customization-available/rep-gb-609
COVID-19 Impact on Shunt Reactor Market
The global demand for shunt reactors has been severely affected as over half of the global population is following stay-at-home orders, resulting in steep collapse in electricity consumption.
The International Energy Agency (IEA) reveals that consumption generally dropped by up till 20% for every month nationwide lockdowns continued. Usage in China – the first country to enact lockdown – fell by 6.5% during Q1 2020.
Countries such as India, the US, France, and the UK witnessed demand fall by at least 15% during lockdowns, while electricity demand in Italy – during peak of COVID-19 outbreak – fell down by about 75% at times.
Although residential demand has scaled by up till 40% as customers are working from home, the upsurge is nowhere close to reversing the impacts of shutting down businesses, particularly in service sector.
Realizing depressed electricity demand, priority access to grids, and low operating expenses, several countries are turning to renewables. In the US, natural gas continues to lead the pack, followed by renewable, having outshone the contribution of coal-based power generation projects.
Share of renewables in India continue to rise in power mix, and the gap between coal and renewables has narrowed down during lockdown timeframe. In China, renewables are maintaining greater share in power mix after relaxation of lockdown measures. These trends will create fertile breeding for shunt reactor manufacturers in coming years.
Ask Us Your Questions About This Report@
https://www.futuremarketinsights.com/ask-question/rep-gb-609
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,
To Know More About Shunt Reactor Market:
A new market research report published by Future Market Insights (FMI) on the global shunt reactor market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the shunt reactor market through five different segments – product, phase, rating, application and region. The shunt reactor market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of shunt reactor and product adoption across several end-use industries.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 27, 2022