Press release
Segmentation, Major Trends, and Competitive Overview of the Flexible AC Transmission System (FACTS) Market
Flexible AC Transmission System (FACTS) Market
Projected Growth and Size of the Flexible AC Transmission System (FACTS) Market
The FACTS market is forecasted to grow to a valuation of $1.88 billion by 2029, achieving a compound annual growth rate (CAGR) of 6.8%. This upward trajectory is largely fueled by the increasing adoption of electric vehicles, efforts to improve grid resilience against natural disasters, a global push towards renewable energy sources, heightened cybersecurity concerns, and the rise of decentralized power generation. Key future trends in this market include the deployment of multi-terminal high-voltage direct current (HVDC) systems, integration of energy storage solutions, a focus on energy efficiency and conservation, advancements in voltage source converters (VSC) for FACTS, the introduction of next-generation FACTS technologies, and enhanced use of advanced power electronics.
Download a free sample of the flexible ac transmission system (facts) market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=10279&type=smp
Prominent Companies Leading the Flexible AC Transmission System Industry
Several well-established corporations are at the forefront of the FACTS market, including 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., and Crompton Greaves Limited.
Strategic Acquisition Strengthening FACTS Service Capabilities
In November 2022, DNV AS, a global independent expert based in Norway, acquired PSD Consulting Engineers Ltd. for an undisclosed amount. This acquisition significantly enhances DNV's expertise in power system planning and FACTS-related services by bringing in PSD's extensive international project experience, broad global client base, and a strong reputation in FACTS advisory. PSD Consulting Engineering Pty. Ltd., headquartered in South Africa, specializes in engineering design for HVDC systems, series capacitors, dynamic and static shunt compensation, as well as transmission and distribution infrastructure such as lines and substations.
View the full flexible ac transmission system (facts) market report:
https://www.thebusinessresearchcompany.com/report/flexible-ac-transmission-system-facts-global-market-report
Technological Innovations Driving the Flexible AC Transmission System Market
The rise of new technologies remains a central theme in the FACTS market, as companies innovate to maintain competitive advantages. For example, Siemens Energy AG from Germany introduced UPFC Plus (Unified Power Flow Controller), a cutting-edge device combining STATCOM (Static Synchronous Compensator) and Static Synchronous Series Compensator (SSSC) technologies based on voltage source converters (VSC). This innovation enables grid operators to dynamically manage load flow in alternating-current systems, improving grid stability and flexibility. The UPFC Plus enhances the ability of operators to respond rapidly to shifting power demands, supporting the integration of renewable energy while maintaining grid reliability under variable conditions.
Flexible AC Transmission System Market Segmentation by Product and Application
The FACTS market is organized into several key segments:
1) Product Categories: Static Synchronous Compensator (STATCOM), Static Var Compensator (SVC), Unified Power Flow Controllers (UPFC), and Thyristor Controlled Series Compensator (TCSC).
2) Compensation Types: Shunt Compensation, Series Compensation, and Combined Series-Shunt Compensation.
3) Functionalities: Voltage Control, Network Stabilization, and Transmission Capacity enhancement.
4) Applications: Utilities, Renewable energy sectors, Industrial operations, Railways, and other specialized uses.
Detailed Product Subsegments within the Market
Further classifications include:
- For STATCOM: Voltage Source Converter (VSC) Based STATCOM and Current Source Converter (CSC) Based STATCOM.
- For SVC: Thyristor Controlled Reactor (TCR) and Thyristor Switched Capacitor (TSC).
- For UPFC: Series Compensator Component and Shunt Compensator Component.
- For TCSC: Fixed Series Capacitors with Thyristor Control and Thyristor Controlled Series Reactors.
Together, these segments provide a comprehensive framework for understanding the diverse solutions and applications encompassed by the FACTS market.
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Segmentation, Major Trends, and Competitive Overview of the Flexible AC Transmission System (FACTS) Market here
News-ID: 4318832 • Views: …
More Releases from The Business Research Company
Analysis of Market Segments and Major Growth Areas in Desalination Technologies
The demand for advanced water treatment solutions is intensifying as global freshwater scarcity becomes a pressing concern. Desalination technologies are emerging as critical tools to address this challenge, providing new avenues for sustainable water supply. This overview explores the expected market growth, key players, emerging trends, and segment insights shaping the desalination technologies sector through 2029.
Forecasted Market Expansion of the Desalination Technologies Industry
The desalination technologies market is projected to…
Key Strategic Developments and Emerging Changes Shaping the Packaged Substation …
The packaged substation market is gaining significant traction as the demand for efficient and reliable energy distribution solutions continues to rise. With increasing focus on sustainability and technological integration, this sector is set for notable expansion in the coming years. Let's explore the expected market size, key industry players, prevailing trends, and the primary segments shaping the packaged substation landscape.
Forecasted Market Size and Growth of the Packaged Substation Market
The…
Top Players and Competitive Environment in the Water Supply and Irrigation Syste …
The water supply and irrigation systems sector is on the brink of substantial growth driven by increasing global demands and technological advancements. As challenges like water scarcity and urban expansion intensify, the market is evolving rapidly to meet the needs of agriculture, infrastructure, and sustainable water management. Let's explore the projected market size, key industry players, emerging trends, and important segments shaping this vital industry.
Robust Expansion Expected in the Water…
Segmentation, Major Trends, and Competitive Overview of the Water-Soluble Vitami …
The market for water-soluble vitamin and mineral feed supplements is gaining significant momentum as the demand for improved animal nutrition and sustainable farming practices continues to rise. This sector is poised to experience substantial growth, driven by innovations and a stronger focus on animal health and well-being. Let's explore the market's future size, leading players, growth drivers, key trends, and segmentation details.
Expected Market Size and Growth Trajectory for Water-Soluble Vitamin…
More Releases for FACTS
Paint Additives Industry Worldwide - Statistics & Facts
The Paint Additives Market is expected to register a CAGR of 5% from 2025 to 2031. The report is segmented by Additive Type (Rheology Modifiers, Wetting and Dispersing Agents, Defoamers, and Others). The report is also segmented based on Formulation Type (Water-Based and Solvent-Based) and Application (Building and Construction, Automotive, Wood and Furniture, and Others).
Download PDF Brochure at: https://www.theinsightpartners.com/sample/TIPRE00020597/?utm_source=OpenPR&utm_medium=10413
The List of Companies
1. ANGUS Chemical Company
2. Arch Chemicals
3. Ashland
4. BYK-Chemie GmbH
5.…
QuadAir Drone Reviews - Shocking Facts Revealed
Get QuadAir Drone Today >> https://rebrand.ly/128buzr
QuadAir Drone is precision-engineered and designed for ease of flying.
QuadAir Drone, a popular holiday gift, is durable, foldable and lightweight. It's also affordable.
Is QuadAir Drone worth the hype? What is the QuadAir Drone's working principle? Continue reading for all the details about QuadAir Drone.
Must See: Official Site of QuadAir Drone [Up to 70% Discount Black Friday] >> https://rebrand.ly/128buzr
echnological innovations are making the world more…
T10 Cooler Reviews: Shocing Facts Revealed
Visit Official Website Here >> https://bit.ly/3LHCCDI
The T10 Cooler is a portable, compact cooler that can be used in place of traditional air conditioners. It absorbs heat and moisture to cool the air. The T10 Cooler provides instant relief from scorching heat at three speeds: medium-high, high, or low.
This equipment is designed to consume less electricity so that it can be used for long hours while using minimal power.
Must See: Visit…
7 Facts About Growth Hacking | UpGrowth
Growth hacking strategies can get you closer to your target audience and promise a higher return on investment (ROI).
• Attract New Users
With a well-devised strategy focused solely on growth, you will be able to attract new users interested in your offerings in a cost-effective and resource-efficient manner.
• Boost Conversions
With their experience and expertise, the dedicated growth engineers at Upgrowth help identify novel ways of adding new users to your base of…
10 interesting Facts about Shahab Signal.
We all have been told in our childhood that how we won't be able to succeed and achieve something in life if we do not study and get a degree of college. Dropping out of school or college to pursue our dream always considered a foolish and dangerous decision in our society however, that's not true in Shahab Signal story and for this we bet you 10 interesting facts about…
FACTS (Flexible AC Transmission System) Market : Facts, Figures and Analytical I …
FACTS (Flexible alternating current transmission system) comprises of static components which are used for the AC transmission of electrical energy. It finds its application for increasing the flexibility, controllability and power transfer ability of a power transmission network. The global FACTS market can be broadly divided into three compensation types namely shunt connected, shunt, series and combined series. Shunt connected and combined series compensation consists of Interline Power Flow controller…
