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Non-PVC IV Bags Market Size Worth $3.19 Billion By 2028 | CAGR: 9.9%

The report "Shunt Reactor Market by Type (Oil-Immersed and Air-Core), Application (Variable Reactors and Fixed Reactors), End-User (Electrical Utilities and Industrial Verticals), and Region (North America, Europe, Asia Pacific, and South America) - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to grow from an estimated USD 2.56 Billion in 2017 to USD 3.19 Billion by 2022, registering a CAGR of 4.56% from 2017 to 2022. The global market for shunt reactor is driven by the rising demand for electricity for power generation, and the addition of high voltage transmission networks. Also, upgrading aging technology in the developed nations is expected to drive the shunt reactors market as they are used to stabilize the system voltage during load variations by absorbing excess reactive power generated in the transmission network.