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Flexible AC Transmission System (FACTS) Global Market By Compensation Type, By Application, By Controller, By Industry Vertical, Opportunities And Forecast 2023-2032 | ABB Ltd., Adani Power Limited, Alstom SA, Mitsubishi Electric Corporation, Siemens AG
Flexible AC Transmission System (FACTS) Market
Flexible AC Transmission System (FACTS) Market Size, Growth Rate, And Forecast
The global flexible AC transmission systems market size is expected to grow from $1.32 billion in 2022 to $1.39 billion in 2023 at a compound annual growth rate (CAGR) of 5.84%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global flexible AC transmission systems market size is expected to reach $1.77 billion in 2027 at a CAGR of 6.16%.
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Flexible AC Transmission System (FACTS) Market Drivers
The expansion of grid infrastructure is expected to propel the growth of the flexible AC transmission systems market going forward. Grid infrastructure refers to a system of power plants, power lines, and power substations.
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Flexible AC Transmission System (FACTS) Market Segments
• By Product: Static Synchronous Compensator (STATCOM), Static Var Compensator (SVC), Unified Power Flow Controllers (UPFC), Thyristor Controlled Series Compensator (TCSC)
• By Compensation Type: Shunt Compensation, Series Compensation, Combined Series-Shunt Compensation
• By Functionality: Voltage Control, Network Stabilization, Transmission Capacity
• By Application: Utilities, Renewables, Industrial, Railways, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Flexible AC Transmission System (FACTS) market.
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Flexible AC Transmission System (FACTS) Market Key Players
Major players in the Flexible AC Transmission System (FACTS) market are ABB Ltd., Adani Power Limited, Alstom SA, Mitsubishi Electric Corporation, CG Power And Industrial Solutions, Hyosung Heavy Industries, General Electric, Siemens AG, Eaton Corporation PLC., NR Electric Co. Ltd., American Superconductor, Liaoning Rongxin Xingye Power Technology Co. Ltd., CG Power And Industrial Solutions Ltd., Toshiba Corporation and American Electric Power.
The Business Research Company's "Global Flexible AC Transmission System (FACTS) Market Report 2023" is a compreFlexible AC Transmission System (FACTS)sive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table of Content for The Flexible AC Transmission System (FACTS) Market Include:
1. Executive Summary
2. Flexible AC Transmission System (FACTS) Market Characteristics
3. Flexible AC Transmission System (FACTS) Market Trends And Strategies
4. Flexible AC Transmission System (FACTS) Market - Macro Economic Scenario
5. Flexible AC Transmission System (FACTS) Market Size And Growth
.....
26. Africa Flexible AC Transmission System (FACTS) Market
27. Flexible AC Transmission System (FACTS) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Flexible AC Transmission System (FACTS) Market
29. Flexible AC Transmission System (FACTS) Market Future Outlook and Potential Analysis
30. Appendix
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