Flexible AC Transmission Systems (FACTS) Market by Generation Type (First, Second), by Compensation Type (Shunt, Series), by Application (Power Control, Voltage Control), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast 2020 to 2027

Flexible AC Transmission Systems (FACTS) Market - Global Industry Analysis and Forecast 2020 to 2027

Flexible AC Transmission Systems (FACTS) Market: Summary

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.

Flexible AC Transmission Systems (FACTS) Market

Flexible AC Transmission Systems (FACTS) Market: Drivers & Restraints

Market Driver:

  • Rising Growth of Transmission Lines

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:

  • Heavy Cost of Installation

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. 

Flexible AC Transmission Systems (FACTS) Market: Key Segments

  • Segmentation based on Generation Type: First Generation and Second Generation.
  • Segmentation based on Compensation Type: Shunt, Series and Combined.
  • Segmentation based on Components: Phase Shifting Transformers, Protection and Control Systems and Power Electronic Devices.
  • Segmentation based on Application: Power Control and Voltage Control.
  • Segmentation based on IP End-User: Railway, Mining, Utilities and Others.
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

Flexible AC Transmission Systems (FACTS) Market: Report Scope

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

Key Companies Covered

  • General Electric (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • ABB (HITACHI)
  • Siemens
  • Mitsubishi Electric Corporation
  • American Superconductor
  • Infineon Technologies AG
  • NR Electric Co., Ltd
  • Hyosung Heavy Industries Corp
  • Quanta Technology
  • Comsys
  • Other Key Companies
    • Merus Power Dynamics Oy
    • JEMA Energy
    • Clariant Power System Limited
    • FREQCON GmbH

Flexible AC Transmission Systems (FACTS) Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Flexible AC Transmission Systems (FACTS) Market, by Generation Types

  • First Generation
  • Second Generation

Flexible AC Transmission Systems (FACTS) Market, by Compensation Type

  • Shunt
  • Series
  • Combined

Flexible AC Transmission Systems (FACTS) Market, by Components

  • Phase Shifting Transformers
  • Protection And Control Systems
  • Power Electronic Devices        

Flexible AC Transmission Systems (FACTS) Market, by Application

  • Power Control
  • Voltage Control

Flexible AC Transmission Systems (FACTS) Market, by End-User

  • Railway
  • Mining
  • Utilities
  • Others

Flexible AC Transmission Systems (FACTS) Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • Taiwan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Report Audience

  • Flexible AC Transmission Systems (FACTS) Market  Providers
  • Flexible AC Transmission Systems (FACTS) Market  Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Flexible AC Transmission Systems (FACTS) Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET STUDY

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Increasing Flexible AC Transmission Equipment
      2. Rising Growth of Transmission Lines
      3. Growing Penetration of Smart Grid Network
    3. Restraint
      1. High Installation Cost
    4. Opportunities
      1. Increasing Demand of STATCOM Devices
      2. Rising Support by the Government of Using Renewable Energy
    5. Challenges
      1. Lack of Awareness about FACTS Benefits
  1. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  2. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET BY GENERATION TYPES, Market Size in USD Million (2019-2027)
    1. Introduction
    2. First Generation
    3. Second Generation
  3. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET BY COMPENSATION TYPE, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Shunt
    3. Series
    4. Combined
  4. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET BY COMPONENTS, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Phase Shifting Transformers
    3. Protection And Control Systems
    4. Power Electronic Devices
  5. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET BY APPLICATION, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Power Control
    3. Voltage Control
  6. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET BY END-USER, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Railway
    3. Mining
    4. Utilities
    5. Others
  7. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. Taiwan
      5. South Korea
      6. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  8. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  9. COMPANY PROFILES
    1. General Electric
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. ABB (HITACHI)
    3. Siemens
    4. Mitsubishi Electric Corporation
    5. American Superconductor
    6. Infineon Technologies AG
    7. NR Electric Co., Ltd
    8. Hyosung Heavy Industries Corp
    9. Quanta Technology
    10. Comsys
    11. Other Key Companies
      1. Merus Power Dynamics Oy
      2. JEMA Energy
      3. Clariant Power System Limited
      4. FREQCON GmbH
  10. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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

Rep Id : SC 0106

Published : August, 2020


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