|【英語タイトル】Europe Shunt Reactors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
❖ レポートの概要 ❖
The Europe Shunt Reactor Market is expected to register a CAGR of approximately 8% during the forecast period (2021 – 2026). The need to increase the efficiency of the system and provide reliable power is increasing the demand for a shunt reactor. The need for protection solutions for sudden voltage spikes and investments into upgrading existing transmission and distribution networks is also augmenting the demand for shunt reactors.
- The growing energy demand in the industrial sector is another prominent influencer behind the incorporation of shunt reactors in the region’s power generation facilities. For example, a second 330 kV shunt reactor of the Belarusian nuclear power plant was commission in April 2020; the first 180 MVAr shunt reactor was commissioned in December 2018. The adoption of equipment is for the overhead power lines, with the nominal voltage of 330 kV representing the primary source of reactive power.
- The region is home to some of the major vendors that form alliances and partnerships with the local power suppliers, industrial projects, and government bodies. Some of the key players include Siemens, Fuji Electronic, and Hyosung Corporation.
- The continued participation of Siemens in SINCRO.GRID project has enabled the company to supply various shunt reactors to grid development projects in Europe. In Croatia, the company was able to successfully install 100 MVAr variable shunt reactor at the Mraclin substation, under the implementation of the first part of the SINCRO.GRID project.
- Several global companies are reaching out to the regional players for the delivery of shunt reactors, which is expected to expand the regional player’s global presence and further strengthen their global presence. For instance, in May 2020, El Sewedy Electric T&D contracted ABB to deliver high-voltage gas-insulated switchgear (GIS) and shunt reactors to ensure reliable power supply as part of the strategic expansion of the Toshka 2 substation.
Key Market Trends
Electric Utilities Expected to Gain Maximum Adoption
- The investments in upgrading Transmission and Distribution infrastructure in Europe are on the rise; for instance, Italian transmission system operator Terna has procured a EUR 490 million as a loan from European Investment Bank (EIB) to modernize its electricity transmission grid in Italy.
- Also, according to the estimation of the members of the Federation of Associations of Energy Utility Companies (ACUE), the Romanian electricity and gas distribution networks need an investment of over EUR 10 billion in the long-term to replace the outdated infrastructure in order meet EU standards for power transmission and distribution.
- The European Project of Common Interest (PCI) aims at optimizing the efficiency of the Croatian and Slovenian electricity transmission grids through the application of advanced technologies. In December 2019, the ELES substation in Divača had been equipped with a variable shunt reactor, in collaboration with Siemens. As per the contract, Siemens supplied and installed a variable shunt reactor (VSR) 0f 150 Mvar.
- The rising demand for power will drive the demand for products, solutions, and services allied to the energy sector in the region. Shunt reactor demand for the energy and utility will grow significantly in the coming years in-mid of growing electricity demand and connectivity projects undertaken by the governments.
- For instance, the Ministry of Energy of the Republic of Lithuania has undertaken a project for synchronization of the electricity network with the grid of Western Europe. This project will reduce electric power transmission capacities with Belarus and will prevent the flow of electricity from the unsafe Astravets Nuclear Power Plant (NPP) in the future. In implementing the North-East Lithuanian reconstruction project, two 330 kV transformer substations in Ignalina and Utena will be reconstructed, and a 330 kV-controlled shunt reactor will be moved from the Ignalina substation to the 330 kV switchyard in Elektrėnai.
United Kingdom Expected to Dominate the Market
- The United Kingdom is one of the primary industrial countries in Europe, which is home to various manufacturing industries whose energy needs are increasing rapidly. According to the UK Department for Business, the final energy consumption of industry in the United Kingdom by 2035 in electricity is expected to reach 5,928 thousand metric tons of oil equivalent, whereas renewables are expected to reach 1,223 thousand metric tons of oil equivalent.
- Moreover, the country is observing significant investments in the expansion and upgradation of its existing transmission and distribution network. For instance, Britain’s energy market regulator Office of Gas and Electricity Markets (Ofgem) has given permission to National Grid to build a power grid upgrade to connect the new Hinkley Point C nuclear power station in Somerset.
- Besides, the country is increasingly investing in a smart grid. The UK government recently pushed the deadline for its EUR 13 billion smart energy metering rollout by four years to 2024. As of December 2019, there were 16.5 million smart and advanced meters operating in homes and businesses across Britain.
- Owing to such growing renewable energy investments in the region, the shunt reactor vendors are also focusing their offerings to the industry requirements. Siemens in the United Kingdom has built one of the largest variable shunt reactors featuring a rating of 120-300 MVAr and a rated voltage of 220 kV, weighing 317 metric tons and measuring approximately 10×8.5×8 meters.
The competitive landscape of the Europe Shunt Reactor Market is consolidated, owing to the presence of few vendors in the region, such as Siemens, Mitsubishi, Fuji Electric, Hyosung Corporation, and many more. The market players are receiving contracts from several global companies for the delivery of shunt reactors, which is helping them strengthen their global foothold. Also, the vendors in the market are forming strategic collaborations with a view to boosting their market share.
- June 2020 – Semco Maritime awarded Siemens with an order on equipment for the electrical service platform at the planned 1.6-GW Mayflower Wind project. The equipment will include three 275 kV / 265 MVAr shunt reactors, a 72 kV HV gas-insulated switchgear (GIS), three 275 kV MV GIS systems, an integrated conditioning monitoring system, and SCADA and protection systems.
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1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Need for Modernization of Transmission and Distribution Networks
4.2.2 Increased Industrialisation of the Developing Nations
4.3 Market Restraints
4.3.1 High Initial Investment to Set Up Shunt Reactor
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of Impact of Covid-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Oil Immersed Reactor
5.1.2 Air Core Dry Reactor
5.2 By Application
5.2.1 Electric Utilities
5.2.2 Industrial Utilities
5.3.1 United Kingdom
5.3.4 Rest of the Europe (Finland, Sweden, Switzerland, and Others)
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 Siemens AG
6.1.2 CG Power and Industrial Solutions Limited
6.1.3 Mitsubishi Electric Corporation
6.1.4 Fuji Electric Co.
6.1.5 TBEA Co. Ltd.
6.1.6 Hitachi Ltd.
6.1.7 Hyundai Heavy Industries Co. Ltd.
6.1.8 Hyosung Corporation
6.1.9 Alstom SA
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS