Flexible AC Transmission System (FACTS) Industry Outlook 2025-2029: Market Set to Cross $1.88 Billion Milestone

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How Large Will the Flexible AC Transmission System (FACTS) Market Size By 2025?
The market size of the flexible ac transmission system (facts) has seen a constant increase over the past few years. There is an assessment for this market to rise from $1.38 billion in 2024 to $1.45 billion in 2025, projecting a compound annual growth rate (CAGR) of 4.9%. The historic expansion can be linked to factors such as concerns about grid reliability, outdated power infrastructure, deregulation of the electricity market, overloading of transmission lines, the worldwide extension of high-voltage networks, and environmental concerns.

How Big Is the Flexible AC Transmission System (FACTS) Market Size Expected to Grow by 2029?
The market size of the flexible ac transmission system (facts) is projected to witness robust expansion in the upcoming years, with expectations to reach the $1.88 billion mark by 2029, growing at a compound annual growth rate (CAGR) of 6.8%. This growth during the forecast period is primarily due to the escalating prevalence of electric vehicles, enhanced grid resistance to natural disasters, transition towards renewable energy, issues related to cybersecurity, and decentralization of energy production. The forecast period will also see major trends such as multi-terminal HVDC systems, the integration of energy storage, enhancement of energy efficiency and conservation, the application of voltage source converters (VSC) in facts, emergence of next-gen facts technologies, and the incorporation of high-end power electronics.

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Which Key Market Drivers Powering Flexible AC Transmission System (FACTS) Market Expansion and Growth?
The progression of the grid infrastructure is anticipated to drive the flexible AC transmission systems market's growth in the future. Grid infrastructure encompasses power plants, power lines, and power substations. These power grids utilize Flexible AC Transmission Networks (FACTS) to boost transmission line capacity and improve overall stability by minimizing a power line's transfer reactance. To exemplify, the International Energy Agency, an intergovernmental organization based in France, shared in September 2024 that investment in the electricity grid rose by roughly 8% in 2022. Additionally, the agency accentuated that investing in smart grids needs to more than double by 2030 to meet the goal of achieving Net Zero Emissions by 2050. Consequently, the development of the grid infrastructure is fueling the growth of the flexible AC transmission systems market moving ahead.

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Which Fast-Growing Trends Are Poised to Disrupt the Flexible AC Transmission System (FACTS) Market?
Emerging technological advancements are a significant trend escalating in the flexible AC transmission systems market. Firms engaged in the flexible AC transmission systems market are incorporating cutting-edge technologies to maintain their market standing. For example, Siemens Energy AG, a manufacturer based in Germany that produces gas and steam turbines, generators, and transformers, unveiled the UPFC Plus (Unified Power Flow Controller). This product meshes STATCOM (Static Synchronous Compensator) and Static Synchronous Series Compensator (SSSC) using VSC (Voltage Source Converter) technology. The UPFC PLUS aids system operators in guaranteeing grid stabilization by dynamically controlling load flow in alternating-current grids. Moreover, it enhances grid operators' quick response capability towards fluctuating power requirements for promoting the incorporation of renewable energy and securing grid robustness and stability.

What Are the Emerging Segments in the Flexible AC Transmission System (FACTS) Market?
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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Who Are the Global Leaders in the Flexible AC Transmission System (FACTS) Market?
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

Which are the Top Profitable Regional Markets for the Flexible AC Transmission System (FACTS) Industry?
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

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