Global shunt reactor market to reach $3.44B by 2022
A new market research report is available titled “Global Shunt Reactor Market by Manufacturers, Regions, Type and Application, Forecast to 2022”.
According to the report, the global shunt reactor market is valued at $ 2.15 billion in 2016 and is expected to reach a value of $ 3.44 billion by the end of 2022, growing at a projected CAGR of 8.2% during the forecast period of 2017 – 2022, reports NewsMaker.
The need to increase the efficiency of the system and provide reliable power is increasing the global demand for shunt reactors. The need for protection solutions for sudden voltage spikes is also driving the demand for this product. However, uncertain market scenarios in some countries is challenging the growth of this market.
The report also considers key trends that will impact the industry and key profiles of leading suppliers of shunt reactors, which include ABB Limited, Crompton Greaves Limited, Mitsubishi Electric Corporation, Hyundai Heavy Industries, Siemens AG, Tebian Electric Apparatus Stock Company Ltd, Alfa Tec Inc., Fuji Electric, Toshiba, Alstom, Elgin National Industries, Motech Industries and Kollmorgen Corp.