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Oil Immersed Single Phase Shunt Reactor Market Size
Power systems use oil-immersed single-phase shunt reactors to absorb reactive power and increase voltage stability, especially in high-voltage networks and long transmission lines. It is made up of a single-phase reactor submerged in insulating oil, which improves dielectric strength and ensures safe and dependable operation even under extreme electrical stress. This reactor's main purpose is to offset the capacitive reactive power produced by transmission lines in order to avoid overvoltage and preserve system efficiency. Because of its oil-immersed design, it dissipates heat more effectively, extending the equipment's lifespan and guaranteeing continuous performance under a range of load conditions. Utilized extensively in power transmission systems and substations, this device is essential for maintaining energy efficiency, stability, and dependability.
According to SPER market research, ‘Global Oil Immersed Single Phase Shunt Reactor Market Growth, Size, Trends Analysis - By Installed Capacity, By Voltage, By Reactor Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ states that the Global Oil Immersed Single Phase Shunt Reactor Market is estimated to reach USD 397.51 million by 2034 with a CAGR of 4.31%.
Drivers:
The increasing need for reliable and efficient power transmission is one of the main drivers affecting the market for single-phase fixed shunt reactors.. The need for infrastructure that can transmit power over long distances with low losses is growing along with the demand for electricity. In order to preserve voltage stability and lower power losses, single-phase fixed shunt reactors are essential because they offer reactive power compensation. Further fueling the need for single-phase fixed shunt reactors is the increasing focus on grid modernization and the incorporation of renewable energy sources, which frequently have intermittent power generation profiles. The market for single-phase fixed shunt reactors is anticipated to grow significantly over the next several years. Innovation and advances in technology are also contributing significantly to the single-phase fixed shunt reactor market's expansion.
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Restraints:
The operational, financial, and technical difficulties that arise in practical applications restrict the market for oil-immersed single-phase shunt reactors. Because of their size and space requirements, these reactors are challenging to install in places with inadequate infrastructure. Although the oil-immersed design works well for insulation and cooling, it also poses environmental risks, fire hazards, and leakage risks, necessitating close supervision and safety precautions. Adoption may be deterred by a high upfront cost and continuing maintenance expenses, especially in projects with tight budgets. Furthermore, the equipment's use is restricted in areas with a lack of technical expertise due to the requirement for qualified professionals to operate and maintain it. Size and weight-related transportation issues also serve as obstacles, further impeding market expansion and adaptability. Asia Pacific dominates the global market for oil-immersed single-phase shunt reactors, with a sizable market share brought about by increased electricity generation, fast industrialization, and large investments in power transmission and distribution infrastructure. Some of the significant market players are: ABB Ltd., Arteche Group, CESI S.p.A., CG Power, Eaton Corporation, Emotron AB, General Electric Company, and LG Electronics.
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Oil Immersed Single Phase Shunt Reactor Market Share
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