Shunt Reactor Market in APAC by End-user and Geography - Forecast and Analysis 2022-2026

Published: Feb 2022 Pages: 120 SKU: IRTNTR72561

The shunt reactor market share in APAC is expected to increase by USD 196.95 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.36%.

This shunt reactor market in APAC research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers shunt reactor market segmentation in APAC by end-user (power utilities and industrials) and geography (China, India, Japan, and Rest of APAC). The shunt reactor market in APAC report also offers information on several market vendors, including ABB Ltd., ALSTOM SA, Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Motor Group, Mitsubishi Electric Corp., Siemens AG, Toshiba Corp., TSEA, and Zaporozhtransformator PrJSC among others.

What will the Shunt Reactor Market Size in APAC be During the Forecast Period?

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Shunt Reactor Market in APAC: Key Drivers, Trends, and Challenges

The increased industrialization of the developing nations is notably driving the shunt reactor market growth in APAC, although factors such as high initial investment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the shunt reactor industry in APAC. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Shunt Reactor Market Driver in APAC

One of the key factors driving growth in the shunt reactor market in APAC is the increasing industrialization of the developing nations. Developing countries such as India, China, and Vietnam are expected to witness an increased number of industries due to high growth opportunities and cheap labor in the last few years. The rising construction and investments in the manufacturing sector in developing countries have increased the adoption of shunt reactors in the region. For instance, in 2020, the Chinese Communist Party (CCP) announced it would spend approximately $1.4 trillion on digital infrastructure public spending programs. This includes 5G networks, industrial Internet, inter-city transportation and rail system, data centers, AI, ultra-high voltage power transmission, and new-energy vehicle charging stations. India has the potential to become a global manufacturing hub by 2030, which will add $500 billion to the economy annually. In June 2021, Pentagon Corp, an assembler of Apple, Microsoft, and Sony, planned to invest $101 million in electronic production in Vietnam. Thus, the increasing industrialization in developing countries will drive the market during the forecast period.

Key Shunt Reactor Market Trend in APAC

The increasing energy efficiency in varying load lines is another factor supporting the shunt reactor market share growth in APAC. Reactive power is generated over long transmission lines due to the capacitance between the lines and the earth. The reactive power cannot be used for any application and should be balanced to reduce energy losses. Shunt reactors absorb the reactive power, thus increasing the energy efficiency of the system. At low loads, voltage increases along the transmission line. A shunt reactor reduces the voltage increase, keeps the voltage within the desired limits, and contributes to the voltage stability of the system. Such advantages will drive the growth of the market during the forecast period.

Key Shunt Reactor Market Challenge in APAC

The high initial investment will be a major challenge for the shunt reactor market growth in APAC during the forecast period. The initial investment required to set up shunt reactors is high, which reduces its adoption in low and mid-size industries. Subsystem components installation, and integration, and the capacity to integrate with systems are very costly in energy storage systems. High costs increase cost competitiveness among vendors. As shunt reactors command high costs, constant research to reduce costs is crucial to make the market more competitive. Rather than setting targets of achieving marginal gains in terms of performance, research work should focus on technologies that meet the needs of power systems at the lowest possible costs. The cost factor dissuades power utilities in upgrading their systems to avoid risk. Such factors will hamper the growth of the market.

This shunt reactor market in APAC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the shunt reactor market in APAC as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the shunt reactor market in APAC during the forecast period.

Who are the Major Shunt Reactor Market Vendors in APAC?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • ALSTOM SA
  • Fuji Electric Co. Ltd.
  • Hitachi Ltd.
  • Hyundai Motor Group
  • Mitsubishi Electric Corp.
  • Siemens AG
  • Toshiba Corp.
  • TSEA
  • Zaporozhtransformator PrJSC

 

This statistical study of the shunt reactor market in APAC encompasses successful business strategies deployed by the key vendors. The shunt reactor market in APAC is fragmented and the vendors are deploying growth strategies such as focusing on technological progress and product innovations to compete in the market.

Product Insights and News

ABB Ltd. - The company offers shunt reactors such as variable shunt reactors used for maintaining voltage stability on the transmission lines.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The shunt reactor market in APAC forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Shunt Reactor Market in APAC Value Chain Analysis

Our report provides extensive information on the value chain analysis for the shunt reactor market in APAC, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the electrical components and equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Aftermarket and service
  • Support activities
  • Industrial innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Shunt Reactor Market in APAC?

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36% of the market's growth will originate from China during the forecast period. Market growth in this region will be slower than the growth of the market in India and the Rest of APAC.

The increasing demand for shunt reactors across industries, such as automotive and manufacturing and power utilities will facilitate the shunt reactor market growth in China over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2019, the outbreak of COVID-19 negatively impacted the growth of the market in China. The adoption of shunt reactors was witnessing low due to the implementation of lockdowns in China Most manufacturing and construction activities were put on a halt to control the spread of the disease in the country However, with the initiation of vaccination drives, the number of COVID-19 cases has reduced in the country. This has led to the resumption of industrial operations in China, which has helped in the recovery of the economy. Such factors are expected to drive the market during the forecast period.

What are the Revenue-generating End-user Segments in the Shunt Reactor Market in APAC?

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The shunt reactor market share growth in APAC by the power utilities segment will be significant during the forecast period. Vendors offer a wide range of products to strengthen the customer base. For instance, in the Hitachi gapped core shunt reactor, the design concept is to minimize losses, sound, and vibration. Robust design and production excellence ensure exceptional and proven field reliability. Such factors will increase the adoption of shunt reactors during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the shunt reactor market size in APAC and actionable market insights on post COVID-19 impact on each segment.

 

Shunt Reactor Market Scope in APAC

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.36%

Market growth 2022-2026

$ 196.95 million

Market structure

Fragmented

YoY growth (%)

2.80

Regional analysis

APAC

Performing market contribution

China at 36%

Key consumer countries

 China, India, Japan, and Rest of APAC

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., ALSTOM SA, Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Motor Group, Mitsubishi Electric Corp., Siemens AG, Toshiba Corp., TSEA, and Zaporozhtransformator PrJSC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Shunt Reactor Market in APAC Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive shunt reactor market growth in APAC during the next five years
  • Precise estimation of the shunt reactor market size in APAC and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the shunt reactor industry in APAC across China, India, Japan, and Rest of APAC
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of shunt reactor market vendors in APAC

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***1. Executive Summary                        

              **1.1 Market Overview

                             *Exhibit 01:  Key Finding 1

                             *Exhibit 02:  Key Finding 2

                             *Exhibit 03:  Key Finding 3

                             *Exhibit 04:  Key Finding 5

                             *Exhibit 05:  Key Finding 6

                             *Exhibit 06:  Key Finding 7

***2. Market Landscape                          

              **2.1 Market ecosystem            

                             *Exhibit 07:  Parent market

                             *Exhibit 08:  Market Characteristics

              **2.2 Value Chain Analysis         

                             *Exhibit 09:  Value chain analysis:  Electrical components and equipment

                             *2.2.1   Inputs

                             *2.2.2   Inbound logistics

                             *2.2.3   Operations

                             *2.2.4   Outbound logistics

                             *2.2.5   Marketing and sales

                             *2.2.6   Aftermarket and service

                             *2.2.7   Industry innovations

***3. Market Sizing                     

              **3.1 Market definition

                             *Exhibit 10:  Offerings of vendors included in the market definition

              **3.2 Market segment analysis 

                             *Exhibit 11:  Market segments

              **3.3 Market size 2020 

              **3.4 Market outlook: Forecast for 2020 - 2025 

                             *3.4.1Estimating growth rates for emerging and high-growth markets

                             *3.4.2   Estimating growth rates for mature markets

                             *Exhibit 12:  Global - Market size and forecast 2021 - 2026 (million $)

                             *Exhibit 13:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                        

              **4.1 Five Forces Summary       

              **4.2 Bargaining power of buyers          

                             *Exhibit 14: Bargaining power of the buyer

              **4.3 Bargaining power of suppliers      

                             *Exhibit 15: Bargaining power of the supplier

              **4.4 Threat of new entrants    

                             *Exhibit 16: Threat of new entrants

              **4.5 Threat of substitutes        

                             *Exhibit 17: Threat of substitutes

              **4.6 Threat of rivalry  

                             *Exhibit 18: Threat of rivalry

              **4.7 Market condition

                             *Exhibit 19: Market condition - Five forces 2021

***5. Market Segmentation by End-user            

  **5.1 Market segments

                             *Exhibit 20 : End-user- Market share 2021-2026 (%)

              **5.2 Comparison by End-user 

                             *Exhibit 21:  Comparison by End-user

              **5.3 Power utilities - Market size and forecast 2021-2026          

                             *Exhibit 22:  Power utilities-  Market size and forecast 2021-2026 ($ million)

                             *Exhibit 23:  Power utilities- Year-over-year growth 2021-2026 (%)

              **5.4 Industrials - Market size and forecast 2021-2026   

                             *Exhibit 24:  Industrials - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 25:  Industrials- Year-over-year growth 2021-2026 (%)

              **5.5 Market opportunity by End-user  

                             *Exhibit 26:  Market opportunity by End-user

***6. Customer landscape                       

                             *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                             *Exhibit 27:  Customer landscape

***7 Geographic Landscape      

  **7.1 Geographic segmentation

                             *Exhibit 28:  Market share by geography 2021-2026 (%)

              **7.2 Geographic comparison  

                             *Exhibit 29:  Geographic comparison

              **7.3 China - Market size and forecast 2021-2026           

                             *Exhibit 30:  China - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 31:  China - Year-over-year growth 2021-2026 (%)

              **7.4 India - Market size and forecast 2021-2026             

                             *Exhibit 32:  India - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 33:  India - Year-over-year growth 2021-2026 (%)

              **7.5 Japan - Market size and forecast 2021-2026           

                             *Exhibit 34:  Japan - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 35:  Japan - Year-over-year growth 2021-2026 (%)

              **7.6 Rest of APAC - Market size and forecast 2021-2026             

                             *Exhibit 36:  Rest of APAC - Market size and forecast 2021-2026 ($ million)

                             *Exhibit 37:  Rest of APAC - Year-over-year growth 2021-2026 (%)

              **7.8 Market opportunity by geography

                             *Exhibit 38:  Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends                 

              **8.1 Market drivers     

                             *8.1.1   Increased industrialization of the developing nations

                             *8.1.2   Expansion and upgradation of its existing transmission and distribution network

                             *8.1.3   Increasing the energy efficiency of the system

              **8.2 Market challenges             

                             *8.2.1   High initial investment

                             *8.2.2   Mechanical complexity associated with shunt reactor

                             *8.2.3   Overvoltage limitation

                             *Exhibit 39:  Impact of drivers and challenges

              **8.3 Market trends     

                             *8.3.1   Increasing energy efficiency in varying load lines

                             *8.3.2   Rising investment in renewables energy resources

                             *8.3.3   Evolution of IoT and smart grid projects

***9. Vendor Landscape                          

              **9.1 Overview

                             *Exhibit 40:  Vendor landscape

              **9.2 Landscape disruption       

                             *Exhibit 41: ?Landscape disruption?

                             *Exhibit 42: Industry Risk

              **9.3 Competitive Scenario       

***10. Vendor Analysis              

              **10.1 Vendors Covered            

                             *Exhibit 43: Vendor Landscape

              **10.2 Market positioning of vendors   

                             *Exhibit 44: ?Market positioning of vendors?

              **10.3 ABB Ltd.

                             *Exhibit 45:  ABB Ltd. - Overview

                             *Exhibit 46:  ABB Ltd. - Business segments

                             *Exhibit 47:  ABB Ltd. -  Key news

                             *Exhibit 48:  ABB Ltd. - Key offerings

                             *Exhibit 49:  ABB Ltd. - Segment focus

              **10.4 ALSTOM SA        

                             *Exhibit 50:  ALSTOM SA - Overview

                             *Exhibit 51:  ALSTOM SA - Business segments

                             *Exhibit 52:  ALSTOM SA – Key news

                             *Exhibit 53:  ALSTOM SA - Key offerings

                             *Exhibit 54:  ALSTOM SA - Segment focus

              **10.5 Fuji Electric Co. Ltd.        

                             *Exhibit 55:  Fuji Electric Co. Ltd. - Overview

                             *Exhibit 56:  Fuji Electric Co. Ltd. - Business segments

                             *Exhibit 57:  Fuji Electric Co. Ltd. - Key offerings

                             *Exhibit 58:  Fuji Electric Co. Ltd. - Segment focus

              **10.6 Hitachi Ltd.         

                             *Exhibit 59:  Hitachi Ltd.  - Overview

                             *Exhibit 60:  Hitachi Ltd.  - Business segments

                             *Exhibit 61:  Hitachi Ltd.  - Key offerings

                             *Exhibit 62:  Hitachi Ltd.  - Segment focus

              **10.7 Hyundai Motor Group    

                             *Exhibit 63:  Hyundai Motor Group - Overview

                             *Exhibit 64:  Hyundai Motor Group - Business segments

                             *Exhibit 65:  Hyundai Motor Group - Key offerings

                             *Exhibit 66:  Hyundai Motor Group - Segment focus

              **10.8 Mitsubishi Electric Corp.

                             *Exhibit 67:  Mitsubishi Electric Corp. - Overview

                             *Exhibit 68:  Mitsubishi Electric Corp. - Business segments

                             *Exhibit 69:  Mitsubishi Electric Corp. - Key offerings

                             *Exhibit 70:  Mitsubishi Electric Corp. - Segment focus

              **10.9 Siemens AG        

                             *Exhibit 71:  Siemens AG - Overview

                             *Exhibit 72:  Siemens AG - Business segments

                             *Exhibit 73:  Siemens AG – Key news

                             *Exhibit 74:  Siemens AG - Key offerings

                             *Exhibit 75:  Siemens AG - Segment focus

              **10.10 Toshiba Corp.  

                             *Exhibit 76:  Toshiba Corp. - Overview

                             *Exhibit 77:  Toshiba Corp. - Business segments

                             *Exhibit 78:  Toshiba Corp. - Key offerings

                             *Exhibit 79:  Toshiba Corp. - Segment focus

              **10.11 TSEA   

                             *Exhibit 80:  TSEA - Overview]

                             *Exhibit 81:  TSEA - Product and service

                             *Exhibit 82:  TSEA - Key offerings

              **10.12 Zaporozhtransformator PrJSC   

                             *Exhibit 83:  Zaporozhtransformator PrJSC - Overview

                             *Exhibit 84:  Zaporozhtransformator PrJSC - Product and service

                             *Exhibit 85:  Zaporozhtransformator PrJSC - Key offerings

***11. Appendix                          

              **11.1 Scope of the report        

                             *11.1.1 ????Market definition

                             *11.1.2 ????Objectives

                             *11.1.3 ????Notes and caveats

              **11.2 Currency conversion rates for US$           

                             *Exhibit 86: ?Currency conversion rates for US$?

              **11.3 Research Methodology  

                             *Exhibit 87: ?Research Methodology

                             *Exhibit 88: ??Validation techniques employed for market sizing?

                             *Exhibit 89: ??Information sources

              **11.4 List of abbreviations       

                             *Exhibit 90: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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