London, 20 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global shunt reactor market 2015-2019, which is expected to grow at a CAGR of 8.11% during the forecast period of 2014-2019.
Rapid and continuous industrialization in regions like the APAC and the Middle East has led to increased spending on developing the power infrastructure, which in turn aids in augmenting the demand for shunt reactors. Migration of the populace from rural to urban areas has resulted in rapid industrialization. This has resulted in the increased electrical consumption in these regions. Moreover, the developing countries’ focus on restructuring their T&D infrastructures will also augment the demand for shunt reactors globally.
“Smart grids have intelligent functions that improve energy efficiency. Smart grids have introduced a new era of availability, reliability, and efficiency to the energy industry. Technological advancements are important as they help in increasing consumer awareness and develop regulations and standards related to smart grids,” says Faisal Ghaus, Vice President of Technavio.
“The benefits of smart grids include increased efficiency in transmitting electric power, quick restoration work in cases of power disturbance, and reduced costs for utilities and consumers. Shunt reactors increase the stability of smart grids and maintain an acceptable level of insulation for networks with long-distance transmission lines.”
Key Market Drivers:
- Addition of High-voltage Transmission Lines.
- Demand from Developing Countries.
- Increase in Grid Reliability.
Key Market Trends:
- Focus on Renewable Energy Sources.
- Emergence of Smart Grids.
- Increase in R&D Investment.
Key Market Vendors:
- ABB Ltd.
- Crompton Greaves (CG) Ltd.
- Siemens AG
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
