Press release
Flexible AC Transmission System (FACTS) Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Flexible AC Transmission System (FACTS) Market
The growth of the flexible AC transmission systems market is anticipated to be propelled by the expansion of grid infrastructure. This infrastructure is comprised of power plants, power lines, and power substations. Grid infrastructure utilizes Flexible AC Transmission Networks (FACTS) to boost transmission line capacity and enhance system stability by reducing a power line's transfer reactance. For example, the France-based intergovernmental organisation, International Energy Agency, announced in September 2024 that there was an approximate increase of 8% in investment in electricity grids in 2022. Furthermore, it stressed the need to more than double the investment in smart grids by 2030 to keep on track with the aim of achieving Net Zero Emissions by 2050. Hence, the growth of the flexible AC transmission systems market is being propelled by the expansion of grid infrastructure.
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How will the growth rate of the flexible ac transmission system (facts) market shape industry trends by 2034?
The market size of the flexible AC transmission system (FACTS) has seen substantial growth in the last few years. The market is expected to progress from a value of $1.38 billion in 2024 to $1.46 billion in 2025, making up a compound annual growth rate (CAGR) of 5.9%. This growth through the historic period is a result of issues around grid reliability, outdated power infrastructure, deregulation in the electricity market, transmission line bottlenecks, worldwide growth of high-voltage networks, and environmental concerns.
The market size of the flexible AC transmission system (FACTS) is projected to experience significant growth in the coming years, reaching a valuation of "$1.91 billion by 2029 with a 7.0% compound annual growth rate (CAGR). Several factors are contributing to this expected growth during the forecast period, including the rising penetration of electric vehicles, the need for grid resilience against natural calamities, the shift towards renewable energy sources, concerns over cybersecurity, and the trend towards decentralized energy production. Key trends for the forecast period encompass multi-terminal HVDC systems, the incorporation of energy storage, improvements in energy efficiency and conservation, the use of voltage source converters (VSC) in FACTS, the emergence of next-gen FACTS technologies, and the incorporation of advanced power electronics.
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What trends are poised to drive the future success of the flexible ac transmission system (facts) market?
The rising trend of technological advancements is becoming increasingly visible in the flexible AC transmission systems market. To maintain their market standing, businesses in this sector are embracing novel technologies. Siemens Energy AG, a Germany-based firm that manufactures gas turbines, steam turbines, generators, and transformers, exemplifies this trend with their launch of UPFC Plus (Unified Power Flow Controller). This innovative device, which combines STATCOM (Static Synchronous Compensator) and Static Synchronous Series Compensator (SSSC) utilizing VSC (Voltage Source Converter) technology, aids system operators in stabilizing grids by dynamically adjusting load flow in alternating-current grids. It enhances the capacity of grid operators to rapidly react to changes in power demand, facilitating the inclusion of renewable energy and ensuring resilience and stability of the grid.
Which primary segments of the flexible ac transmission system (facts) market are driving growth and industry transformations?
The flexible AC transmission system (FACTS) ) market covered in this report is segmented -
1) By Product: Static Synchronous Compensator (STATCOM), Static Var Compensator (SVC), Unified Power Flow Controllers (UPFC), Thyristor Controlled Series Compensator (TCSC)
2) By Compensation Type: Shunt Compensation, Series Compensation, Combined Series-Shunt Compensation
3) By Functionality: Voltage Control, Network Stabilization, Transmission Capacity
4) By Application: Utilities, Renewables, Industrial, Railways, Other Applications
Subsegments:
1) By Static Synchronous Compensator (STATCOM): Voltage Source Converter (VSC) Based STATCOM, Current Source Converter (CSC) Based STATCOM
2) By Static Var Compensator (SVC): Thyristor Controlled Reactor (TCR), Thyristor Switched Capacitor (TSC)
3) By Unified Power Flow Controllers (UPFC): Series Compensator Component, Shunt Compensator Component
4) By Thyristor Controlled Series Compensator (TCSC): Fixed Series Capacitors with Thyristor Control, Thyristor Controlled Series Reactors
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Which geographical regions are pioneering growth in the flexible ac transmission system (facts) market?
North America was the largest region in the flexible AC transmission systems (FACTS) market in 2024. Europe is expected to be the fastest-growing region in the global flexible AC transmission systems market during the forecast period. The regions covered in the flexible ac transmission system (FACTS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the flexible ac transmission system (facts) market landscape?
Major companies operating in the flexible AC transmission system (FACTS) market include ABB Ltd., Alstom SA, Mitsubishi Electric Corporation, CG Power and Industrial Solutions Limited, General Electric Company, Siemens AG, Eaton Corporation plc, NR Electric Co. Ltd., Liaoning Rongxin Xingye Power Technology Co. Ltd., Toshiba Corporation, American Electric Power Company Inc., S&C Electric Company, Arteche Group, Rongxin Power Electronic Co. Ltd., Sieyuan Electric Co.Ltd., Fuji Electric Co. Ltd., LSIS Co. Ltd., Bharat Heavy Electricals Limited, Schneider Electric SE, Hyosung Heavy Industries Corporation, Infineon Technologies AG, Hitachi ABB Power Grids Ltd., Crompton Greaves Limited
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What Is Covered In The Flexible AC Transmission System (FACTS) Global Market Report?
• Market Size Forecast: Examine the flexible ac transmission system (facts) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the flexible ac transmission system (facts) market for a structured understanding.
• Key Players Overview: Analyze major players in the flexible ac transmission system (facts) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the flexible ac transmission system (facts) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the flexible ac transmission system (facts) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the flexible ac transmission system (facts) market.
• Industry Challenges: Identify potential risks and obstacles affecting the flexible ac transmission system (facts) market.
• Competitive Landscape: Review strategic developments in the flexible ac transmission system (facts) market, including expansions, agreements, and new product launches.
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