Shunt Reactor Circuit Market Forecast, Trends And Growth By 2034

This report is designed for companies and decision-makers seeking actionable insights on market size, growth, trends, and competitive strategies to drive expansion and success in the Shunt Reactor Circuit industry.

What is the current market size of the shunt reactor circuit industry, and what growth rate is it expected to achieve?

The shunt reactor circuit market size has grown strongly in recent years. It will grow from $2.45 billion in 2024 to $2.64 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing power quality concerns, rapid urbanization, growth of data centers, growing use of electric vehicles, expanding electrification projects, and expansion of nuclear power plants.

The shunt reactor circuit market size is expected to see strong growth in the next few years. It will grow to $3.48 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to a focus on reducing energy loss in power transmission, growing focus on grid reliability, expansion of electricity access to remote and rural areas, government policies supporting energy infrastructure development, and increasing industrial automation. Major trends in the forecast period include digitalization in power systems, artificial intelligence (AI) in grid management, green and sustainable energy solutions, microgrids, and the adoption of IOT-enabled shunt reactors.

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What are the major drivers contributing to the growth of the shunt reactor circuit market?
The growing renewable energy adoption is expected to propel the growth of the shunt reactor circuit market going forward. Renewable energy comes from natural sources such as sunlight and wind that are continually replenished and used to generate power sustainably. Renewable energy adoption is attributed to increasing environmental concerns, sustainable solutions, and government incentives aimed at reducing greenhouse gas emissions. In renewable energy systems, shunt reactor circuits help stabilize voltage levels and control reactive power in lengthy transmission lines, facilitating the effective and dependable integration of renewable energy sources into the grid. For instance, in March 2024, according to the European Environment Agency, a Denmark-based government agency, in 2022, 23% of the energy consumed in the European Union (EU) was generated from renewable sources, up from 21.9% in 2021. Therefore, the growing renewable energy adoption drives the shunt reactor circuit market.

What are the major market segments driving the growth of the shunt reactor circuit industry?
The shunt reactor circuit market covered in this report is segmented –

1) By Type: Oil-Immersed; Air-Core
2) By Application: Variable; Fixed
3) By End-User: Electric Utilities; Industrial Vertical

Subsegments:
1) By Oil-Immersed: Single-Phase Oil-Immersed Shunt Reactors; Three-Phase Oil-Immersed Shunt Reactors; Natural Cooling Oil-Immersed Reactors
2) By Air-Core: Single-Phase Air-Core Shunt Reactors; Three-Phase Air-Core Shunt Reactors; Non-Magnetic Air-Core Reactors

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Which trends are expected to dominate the shunt reactor circuit market landscape in the coming years?
Major companies operating in the shunt reactor circuit market are focusing on installing variable shunt reactors to enhance the stability and efficiency of power grids by dynamically managing reactive power and voltage levels. Variable shunt reactors are advanced electrical devices designed to dynamically control and stabilize voltage levels in power transmission systems by adjusting reactive power compensation in real-time, ensuring enhanced grid stability and efficiency. For instance, in April 2022, Adani Electricity Ltd., an India-based electric utility company, installed a 220 kV variable shunt reactor at their Gorai substation in Mumbai, India. The installation at the Gorai substation underscores AEML’s commitment to advancing its infrastructure and optimizing grid operations to meet growing energy demands and ensure consistent service delivery. This contributes to a more reliable and efficient power supply, minimizing disruptions and improving the overall performance of the electrical network.

Who are the key market players contributing to the growth of the shunt reactor circuit industry?
Major companies operating in the shunt reactor circuit market are Hitachi Energy Ltd., Siemens AG, General Electric Company, Mitsubishi Electric Corporation, ABB Ltd., Toshiba Corporation, Eaton Corporation plc, Alstom SA, Fuji Electric Co. Ltd., WEG Industries, Bharat Heavy Electricals Limited (BHEL), Hyosung Heavy Industries, HD Hyundai Electric Co. Ltd., Nissin Electric Co. Ltd., S&C Electric Company Inc., TRENCH Group, Crompton Greaves Consumer Electricals Ltd., ENTES Elektronik., SGB-SMIT Group, GBE SpA, (TMC )Transformers Manufacturing, Chess Controls Inc, Hilkar, Shrihans Electricals Pvt. Ltd., GETRA S.p.A.

Which regions are leading the growth of the shunt reactor circuit market globally?
Asia-Pacific was the largest region in the shunt reactor circuit market in 2024. The regions covered in the shunt reactor circuit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Can Companies Use The Shunt Reactor Circuit Market Report to Drive Business Results?
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:
• Time market entry or expansion using growth forecasts and CAGR trends.
• Develop competitive products by tracking key technology shifts and user preferences.
• Tailor regional strategies with in-depth geographic data and local market dynamics.
• Benchmark and plan partnerships using competitive landscape insights.

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