The Global Flexible AC Transmission Systems (FACTS) Market is projected to reach a value of over USD 1.8 billion by 2027 at a CAGR of around 5.4%.
The Flexible AC Transmission Systems (FACTS) is refers to a system which consist of power electronic devices through the power system devices to boost the stability and controllability of the transmission system as well as enhance the power transfer capabilities. Whereas, it is used to provide the controllability of the high voltage side of the network through the help of power electronic devices for initiate inductive as well as the capacitive power in the network.
Hence, it helps to enhance the power quality, and enhance transmission efficiency to improve the reliability of AC grids. These is anticipate to increase the demand for the Flexible AC Transmission Systems (FACTS) market in the forecast period.
%20Market.jpg "Flexible AC Transmission Systems (FACTS) Market")
Market Driver:
With the rising growth of transmission lines is witness to boost the growth of the market in the forecast period. Whereas, the government is focusing on the growing generation capacity and growth of grid support. By this an extensive network of transmission lines has been advance to produce electricity from stations and allocate them to customers. However, ongoing growth of the utility based transmission networks will lead to boost the investments for the development of the existing grid framework. Also, the countries such as China, India and US are growing their transmission line length. Hence these will lead to boost the growth of the market in the forecast period.
Hence, the growing industrial expansion will enhance the volume manufacturing by industry, as well as inclination toward the assimilation of renewable energy, will also stimulate the product demand.
Market Restraints:
One of the major key concern of the flexible ac transmission systems (FACTS) market is heavy cost of installations which may restraining factor for the growth of the market. Whereas, the cost of initial installation is very high which may lead to reduce the adoption of the system by various industries. However, the comparatively high initial cost investment over its counterparts, may also create a challenging factor for the deployment of FACTS in the globe.
Hence, it is projected this factor will create moderate environments in the forecast year with the upcoming compress size as well as reduce the cost of the device.
The report on the flexible ac transmission systems (FACTS) market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
|
Report Features |
Specifics |
|---|---|
|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
|
Base Year for Market Calculation |
2020 |
|
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
|
Measured Units |
Value (USD Million) |
|
Segments Included |
Generation Type, Compensation Type, Components, Application, End-User and Region |
|
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Flexible AC Transmission Systems (FACTS) Market, by Generation Types
Flexible AC Transmission Systems (FACTS) Market, by Compensation Type
Flexible AC Transmission Systems (FACTS) Market, by Components
Flexible AC Transmission Systems (FACTS) Market, by Application
Flexible AC Transmission Systems (FACTS) Market, by End-User
Flexible AC Transmission Systems (FACTS) Market, by Region
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
