Registering a CAGR of 8.2% over the forecast period, the market value of Flexible Alternating Current Transmission Systems (FACTS) is expected to reach US$ 2,128.21million in the year 2027.
Flexible Alternating Current Transmission Systems (FACTS)Market Overview
The report aspects discussed the profile of the top manufacturers of the global Flexible Alternating Current Transmission Systems (FACTS) market. These aspects include the financial status of major companies, trending advancements, and the entire market scenario. Growth of the report has examined Flexible Alternating Current Transmission Systems (FACTS) Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.
FACTS (Flexible AC Transmission Systems) have several advantages over typical grid transmission technologies. Due to its low maintenance costs, FACTS has supplanted fixed compensating equipment as the preferred option. Traditional grid transmission techniques also have a slow response time, which lowers grid performance. As a result, it is anticipated that demand for flexible AC transmission equipment would increase. The need for flexible ac transmission equipment from industrial sectors, electric utilities, railroads, renewable energy sources, and the oil and gas industries will rise over the coming years. Additionally, industry players are always developing new applications, which will increase demand for flexible AC transmission systems (FACTS).
Who are the Major Players in the Flexible Alternating Current Transmission Systems (FACTS) Market?
The global Flexible Alternating Current Transmission Systems (FACTS) includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include, ABB, Siemens, Mitsubishi Electric, RXPE, GE, Toshiba, Sieyuan Electric, Hyosung, AMSC, and others.
Industry News and Updates:
GE completes one of power industry’s largest reactive power upgrades with 100% reliability
May 11, 2022 — GE's Grid Solutions business [NYSE:GE] has successfully completed the three-month trial of its Static Var Compensator (SVC) upgrade to the existing SVCs at two substations belonging to Statnett, Norway’s electrical transmission system operator (TSO). The Flexible AC Transmission System (FACTS) upgrade improves the operational efficiency and stability of Statnett’s alternating current (AC) power system in order to accommodate more renewable energy. The upgrade marks the largest SVC revamp project Statnett has ever undertaken — and is also one of the largest in the industry.
What are the major Applications, Types, and Regions for the Flexible Alternating Current Transmission Systems (FACTS) Market?
The market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
- Shunt Compensation
- Series Compensation
By Application, it is segmented into
- Metal Industry
- Utilities
- Railway
- Mining
Flexible Alternating Current Transmission Systems (FACTS) Market Regional Analysis
The North American market for flexible AC transmission systems was the largest in 2019; it is predicted to increase further and reach $715.5 million by 2027. The main factor propelling the market's expansion in the North American area is the rising demand for grid modernisation brought on by ongoing changes in energy utilities. Additionally, it is anticipated that increasing expenditures in the replacement of outdated energy transmission and distribution infrastructures with superior quality renewable energy integration in power grids will accelerate market growth in North America. For instance, the U.S. Department of Energy invested nearly $220 million in the infrastructure of the nation's electricity grid networks in 2018.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Flexible Alternating Current Transmission Systems (FACTS) Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Flexible Alternating Current Transmission Systems (FACTS) Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Flexible Alternating Current Transmission Systems (FACTS) Market report scope?
Scope of the Report covers Flexible Alternating Current Transmission Systems (FACTS) Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Flexible Alternating Current Transmission Systems (FACTS) Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.
Report Attributes
|
Report Details
|
Report Title
|
Flexible Alternating Current Transmission Systems (FACTS) Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: ABB, Siemens, Mitsubishi Electric, RXPE
|
Forecast Period 2022 to 2027 CAGR
|
CAGR of 8.2% over the forecast period (2022-2027)
|
By Type
|
- Shunt Compensation
- Series Compensation
|
By Application
|
- Metal Industry
- Utilities
- Railway
- Mining
|
By Companies
|
ABB, Siemens, Mitsubishi Electric, RXPE, GE, Toshiba, Sieyuan Electric, Hyosung, AMSC
|
Regions Covered
|
- North America
- Europe
- Asia-Pacific
- Rest of the World
|
Countries Covered
|
- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
|
Base Year
|
2022
|
Historical Year
|
2017 to 2021
|
Forecast Year
|
2022 to 2027
|
Number of Pages
|
160
|
Customization Available
|
Yes, the report can be customized as per your needs
|
Key Takeaways from this Flexible Alternating Current Transmission Systems (FACTS) Report
- Evaluate Flexible Alternating Current Transmission Systems (FACTS) market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.
- Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.
- Get a quick outlook on the Flexible Alternating Current Transmission Systems (FACTS) market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.
- Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The Flexible Alternating Current Transmission Systems (FACTS)Market is studied from 2017 - 2027.
What is the growth rate of the Flexible Alternating Current Transmission Systems (FACTS) Market?
The Flexible Alternating Current Transmission Systems (FACTS) Market is growing at a CAGR of 8.2% over the next 5 years.
Who are the key players in Flexible Alternating Current Transmission Systems (FACTS) Market?
ABB, Siemens, Mitsubishi Electric, RXPE, GE, Toshiba, Sieyuan Electric, Hyosung, AMSC
What regions does this Flexible Alternating Current Transmission Systems (FACTS) Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Flexible Alternating Current Transmission Systems (FACTS) Market?
Shunt Compensation, Series Compensation
What are the major end-use applications of Flexible Alternating Current Transmission Systems (FACTS) Market?
Metal Industry, Utilities, Railway, Mining
All our reports are custom made to your company’s needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
