Oil Immersed Shunt Reactor Market - Top Companies and Manufacturers

Companies Dominating the Oil Immersed Shunt Reactor Landscape

The current trend in the global oil immersed shunt reactor sector is highly influenced by the massive investments from regional power grids to upgrade their systems. For instance, in April 2020, ABB gained a contract from Interconexion Electrica S.A. E.S.P. (ISA) to supply reliable shunt reactors worth USD 100 million to strengthen their grid. With such collaboration, ABB aims to offer affordable, reliable, sustainable, and modern energy for consumers in South America by implementing its technologies. The leaders are now focusing more on developing innovative solutions to mitigate issues related to the operations, increasing demand in the sector. Such key players include:

GBE S.P.A
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SGB Smit
Siemens Energy
Shrihans Electricals Pvt. Ltd.
CG Power & Industrial Solutions Ltd.
WEG
Getra S.P.A.
Tmc Transformers Manufacturing Company
Hyosung Heavy Industries
GE

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Oil Immersed Shunt Reactor Market Size, Forecast Report 2037

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In February 2024, GE Vernova received an order of 765 kV shunt reactors from PGCIL to accelerate the energy transformation in India. The multi-million oil-filled equipment aims to support various transmission system projects in India, integrating renewable energy into the country’s traditional power grid.
In July 2022, WEG announced the successful delivery of its transformers and shunt reactors for a wind farm project in northern Colombia. The equipment is specially designed to offer 500kV, supporting the operation in the 492MW power generation capacity.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the oil immersed shunt reactor market was over USD 1.5 billion.

The market size for the oil immersed shunt reactor market is projected to reach USD 3.3 billion by the end of 2037 expanding at a CAGR of 6.3% during the forecast period i.e., between 2025-2037.

The major players in the market are GBE S.p.A, SGB Smit, Siemens Energy, Shrihans Electricals Pvt. Ltd., CG Power & Industrial Solutions Ltd., WEG, Hitachi Energy Ltd, Getra S.P.A., Tmc Transformers Manufacturing Company, Hyosung Heavy Industries, GE, and others.

In terms of product, the variable shunt reactors segment is anticipated to garner the largest market share of 55.9% by 2037 and display lucrative growth opportunities during 2025-2037.

The market in Asia Pacific is projected to hold the largest market share of 38.6% by the end of 2037 and provide more business opportunities in the future.

Oil Immersed Shunt Reactor Market - Top Companies and Manufacturers

Companies Dominating the Oil Immersed Shunt Reactor Landscape

Browse Key Market Insights with Data Illustration:

In the News

Frequently Asked Questions (FAQ)

How big is the oil immersed shunt reactor market?

What is the outlook for the oil immersed shunt reactor market?

Who are the major players dominating the oil immersed shunt reactor market?

Which product segment will capture the significant market share for the oil immersed shunt reactor market by 2037?

Which region will provide more business opportunities for the growth of the oil immersed shunt reactor market in the future?