Press release
Flexible AC Transmission Systems Market 2020 : Industry Size, Trends and Growth by 2025
FACTS Market will reach over USD 2.5 billion by 2025. Power transmission industry in the recent years has onlook significant growth on account of increasing demand for effective distribution & transmission control systems. Growing demand for refurbishment of conventional electrical network coupled with rising investments pertaining to efficient grid development will foster the FACTS market. Network reliability, economical costs and safe operation are the essential parameters that will positively impact the industry landscape.
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Increased transmission capacity, improved system stability and less installation time are among the key factors augmenting the series FACTS market. Furthermore, improved life cycle of the electrical network along with increasing consumer interest pertaining to the installation of these units to protect the system peripherals will stimulate the industry dynamics.
Voltage fluctuations, ability to limit unbalanced loads, resonance across variable reactive or active loads coupled with power oscillations have constituted a positive landscape for static var compensator units. Rising incorporation of energy efficient, secure, advanced fire-resistant and reliable electric equipment will further boost the FACTS industry.
132kV to 220kV FACTS market will witness growth on account of prevailing expansion of electric transmission infrastructure across residential & commercial installations. Aesthetic proximities coupled with flexible product configurations are the major advantages encouraging the product penetration. Furthermore, incorporation of sustainable energy network has compelled installers and utilities to focus on refurbishing the traditional electrical network.
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Utility grid networks have been substantially influenced by government and regulatory directives toward the deployment of electric infrastructure. In addition, incorporation of renewable energy infrastructure accompanied by soaring fund flows from local regulatory institutions and authorities including the IFC, world bank and similar organizations across emerging nations will positively impact the industry landscape. Favorable government policies toward installation of distributed micro-grid infrastructure across isolated grid areas and rural electrification will positively influence the industry outlook.
FACTS market across Asia Pacific, Middle East and Africa has observed a considerable growth in line to the rising demand for effective distribution and transmission technologies. Increasing investments toward the electricity sector along with rising demand for revamping of existing electrical network will augment the industry landscape. For instance, in 2018, regulatory authorities across Saudi Arabia have announced to finance USD 130 billion toward its various Energy & Water projects.
Eminent players serving the FACTS market involves ABB, Rongxin, Infineon, GE, NR Electric, Hyosung, Siemens, Mitsubishi Electric, BHEL, Ingeteam and American Superconductor.
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