Global Flexible AC Transmission Systems Market: Overview
A flexible AC transmission system (FACTS) is made up of a static device that finds application in AC transmission of electrical power. The use of the equipment is to bring improvement in the controllability and enhance the power transmitting efficiency of the grid.
Global Flexible AC Transmission Systems Market: Growth Factors
With the power transmission sector gaining traction currently as a result of escalating need for effective T&D control systems, it is more likely that the flexible AC transmission systems market will gain momentum in the ensuing years.
The burgeoning necessity for retrofitting of already set up the electrical infrastructure and massive funding for efficient expanding the grid network will leverage the overall market trends. Lower costs, operational efficacy, and system dependability are few of the vital aspects anticipated to amplify the business space.
Moreover, the business in the recent scenario is getting prominence, owing to the escalating issues occurring as a result of faults detected in the electrical supply, and other operational hazards. Giant industry players implementing effective business strategies to increase their operational capabilities will catapult the market scope.
Global Flexible AC Transmission Systems Market: Segmentation
The global flexible AC transmission systems market can be classified into the configuration system, voltage, product type, application, and end use. Configuration system wise, the market is segmented into series, combined, and shunts systems. Product type wise, the market is classified into SVC, UPFC, TCSC, and STATCOM. Based on the voltage, the flexible AC transmission systems market is classified into 132 kV to 220 kV, > 220 kV to 660 kV, and > 660 kV. Application wise, the market is classified into steady state and dynamic state. On the basis of end user, the market is divided into utilities, renewables, smart grid, railways, oil & gas, and metal & mining sectors.
Global Flexible AC Transmission Systems Market: Regional Analysis
Based on the region, the global flexible AC transmission systems market can be divided into five main regions: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America flexible AC transmission systems market is slated to experience an appreciable growth in the near future, owing to massive expending for bringing an advancement of long-route grid network and renewing of the local power system in the region. On other hand, the authorities in the U.S. are planning to set up electric substructure that will lead to a reduction in the cost rates across western T&D network, thereby spurring the regional market growth.
The rise in the demand for new T&D technologies in countries of the Asia Pacific and the Middle East & Africa will drive the market growth in these regions. Additionally, the burgeoning need for restoring of traditional electrical arrangement in alignment with high investments in the energy &power sector will embellish the regional scope
Europe and LATAM markets are projected to catalyze the market growth in the coming years as they possess huge untapped market growth potential as well as abundant natural resources& renewable sources for generating power.
Global Flexible AC Transmission Systems Market: Competitive Players
Some of key players in flexible AC transmission systems market are Rongxin, Amazon Web Services, Inc., NComputing Co. LTD., IBM Corporation, GE, Siemens, Ingeteam, AREVA T&D SA, ABB, VMware, Mitsubishi, BHEL, Siemens AG, NR Electric, Eaton Corporation PLC, Infineon, Hyosung, Dell Inc., ABB Ltd., Trench Group, Mitsubishi Electric Corporation, Cisco Systems, Citrix Systems, Inc., HP Development Company, L.P., S&C Electric Company, Square D, and American Electric Power.
Global Flexible AC Transmission Systems Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
