Flexible AC Transmission Systems Market - Global Industry Analysis

The flexible AC transmission systems market is set for a rapid growth over the forecast period. In terms of revenue, the global flexible AC transmission systems market accounted for USD 1,175.8 Million in 2019 and is expected to reach USD 1,993.8 Million by 2026, growing at a CAGR of 8.1%.

Global Flexible AC Transmission Systems Market: Overview

A flexible alternating current transmission system (FACTS) is a system composed of static equipment used for the AC transmission of electrical energy. It is meant to enhance controllability and increase power transfer capability of the network. It is generally a power electronics-based system. In conventional AC transmission, the power transfer capability has been limited by various dynamic and static limits such as transient stability, voltage stability, thermal limits, etc. These inherent power system limits led to the underutilization of existing transmission sources. Traditional methods of solving these problems use fixed and mechanically switched series and shunt capacitors, reactors and synchronous generators. However, desired response has not been effective due to slow response, wear and tear of mechanical components. With the invention of thyristor devices, power electronic converters are developed that led to implement FACTS controllers. These power electronic based controllers can provide smooth, continuous, rapid and repeatable operations for power system control. FACTS is an acronym for Flexible AC Transmission System and it is an application of power electronic devices to electrical transmission system.

Global Flexible AC Transmission Systems Market: Growth Factors

Renewable energy is energy that is collected from renewable resources, which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat. There is widespread popular support for using renewable energy, particularly solar and wind energy, which provide electricity without giving rise to any carbon dioxide emissions. With the rapid growth of large-scale renewable energy projects, which often supply intermittent power, demand is driving the need for FACTS. Globally, the world produced approximately 5.9 TWh of modern renewable energy in 2016. This represents a 5 to 6-fold increase since the 1960s.

The increasing burden laid on the existing power transmission lines in order to fulfill the ever growing electricity demand, is another factor that drives the growth of FACTS devices. The electricity transmission market is currently undergoing a major change with countries in pursuit of better efficiencies and more suitability for wheeling renewable energy. Several countries are upgrading their transmission lines to higher voltages in order to reduce transmission losses. Technological changes and upgrades are also being made to make the transmission systems more stable against the intermittent nature of renewable energy sources. Besides, the advent of net metering for solar homes and coordinated charging of electric vehicles is pushing utilities to align their new infrastructure with the possibility of bi-directional flow of electricity. Increasing renewable power capacity has also increased the need for countries to interconnect their transmission systems in order to balance generation and demand through export and import of electricity. This in turn has pushed the construction of higher capacity interconnection lines.

Global Flexible AC Transmission Systems Market: Segmentation

The flexible AC transmission systems market is segmented based on compensation type, industry vertical, voltage, function, and region. The compensation type segment is further bifurcated into static var compensation (SVC), static compensator (STATCOM), series compensation, and combined compensation. The industry vertical segment is further split into utilities, renewables, railways, and industrial. Based on voltage, the market is segregated into 132 kV to 220 kV, > 220 kV to 660 kV, and > 660 kV.  By function, the market is divided into voltage control, network stabilization, transmission capacity, harmonic suppression, and others.

Global Flexible AC Transmission Systems Market: Regional Analysis

Based on regions, the global flexible AC transmission systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific flexible AC transmission system market is expected to register the highest CAGR during the forecast period, owing to increase in government expenditure to build smart grids and increase in investment on electricity generation by renewable energy resources. In addition, rise in investments in high speed trains from the developing countries such as China, India, and Japan is expected to offer lucrative opportunities for market expansion. The growing demand for superior quality power supply and network reliability in electric utilities and industrial applications has created numerous opportunities for advanced power electronics based systems.

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. North America relies on FACTS primarily to tame the unruly output from wind turbines that could otherwise destabilize their congested grids.

Global Flexible AC Transmission Systems Market: Competitive Players

Some of key players in flexible AC transmission systems market are Hyosung, GE Grid Solutions, NR Electric, ABB, Adani Power, American Electric Power, Alstom, Mitsubishi Electric, Siemens, and Eaton, among others. 

Global Flexible AC Transmission Systems Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

• Chapter 1.Preface
  • 1.1.Report Description
  • 1.2.Report Scope
• Chapter 2.Research Methodology
  • 2.1.Research Methodology
  • 2.2.Secondary Research
  • 2.3.Primary Research
  • 2.4.Models
    • 2.4.1.Company Share Analysis Model
    • 2.4.2.Revenue Based Modeling
  • 2.5.Research Limitations
• Chapter 3.Executive Summary
  • 3.1.Global Flexible AC Transmission Systems Market, 2016 – 2026 (USD Million)
  • 3.2.Global Flexible AC Transmission Systems Market: Snapshot
• Chapter 4.Flexible AC Transmission Systems Market – Industry Analysis
  • 4.1.Introduction
  • 4.2.Market Drivers
  • 4.3.Market Restraints
  • 4.4.Market Opportunities
  • 4.5.Porter’s Five Forces Analysis
  • 4.6.COVID 19 Impact Analysis
• Chapter 5.Investment Proposition Analysis
  • 5.1.Global Flexible AC Transmission Systems Market Attractiveness, By Compensation Type
  • 5.2.Global Flexible AC Transmission Systems Market Attractiveness, By Industry Vertical
  • 5.3.Global Flexible AC Transmission Systems Market Attractiveness, By Vultage
  • 5.4.Global Flexible AC Transmission Systems Market Attractiveness, By Function
  • 5.5.Global Flexible AC Transmission Systems Market Attractiveness, By Region
• Chapter 6.Competitive Landscape
  • 6.1.Company Market Share Analysis - 2019
    • 6.1.1.Global Flexible AC Transmission Systems Market: Company Market Share, 2019
  • 6.2.Strategic Developments
  • 7.1.Global Flexible AC Transmission Systems Market Overview: by Compensation Type
• Chapter 7.Flexible AC Transmission Systems Market – Compensation Type Analysis
  • 7.1.1.Global Flexible AC Transmission Systems Market Revenue Share, by Compensation Type, 2019 & 2026
  • 7.2.Global Flexible AC Transmission Systems Market Analysis/Overview – By Compensation Type
    • 7.2.1.Static Var Compensation (SVC) – Overview/Analysis
    • 7.2.2.Static Compensator (STATCOM) – Overview/Analysis
    • 7.2.3.Series Compensation – Overview/Analysis
    • 7.2.4.Combined Compensation – Overview/Analysis
  • 7.3.Static Var Compensation (SVC)
    • 7.3.1.Global Flexible AC Transmission Systems Market for Static Var Compensation (SVC), Revenue (USD Million) 2016 - 2026
  • 7.4.Static Compensator (STATCOM)
    • 7.4.1.Global Flexible AC Transmission Systems Market for Static Compensator (STATCOM), Revenue (USD Million) 2016 - 2026
  • 7.5.Series Compensation
    • 7.5.1.Global Flexible AC Transmission Systems Market for Series Compensation, Revenue (USD Million) 2016 - 2026
  • 7.6.Combined Compensation
    • 7.6.1.Global Flexible AC Transmission Systems Market for Combined Compensation, Revenue (USD Million) 2016 - 2026
  • 8.1.Global Flexible AC Transmission Systems Market Overview: by Industry Vertical
• Chapter 8.Flexible AC Transmission Systems Market – Industry Vertical Analysis
  • 8.1.1.Global Flexible AC Transmission Systems Market Revenue Share, by Industry Vertical, 2019 & 2026
  • 8.2.Global Flexible AC Transmission Systems Market Analysis/Overview – By Industry Vertical
    • 8.2.1.Utilities – Overview/Analysis
    • 8.2.2.Renewables – Overview/Analysis
    • 8.2.3.Railways – Overview/Analysis
    • 8.2.4.Industrial – Overview/Analysis
  • 8.3.Utilities
    • 8.3.1.Global Flexible AC Transmission Systems Market for Utilities, Revenue (USD Million) 2016 - 2026
  • 8.4.Renewables
    • 8.4.1.Global Flexible AC Transmission Systems Market for Renewables, Revenue (USD Million) 2016 - 2026
  • 8.5.Railways
    • 8.5.1.Global Flexible AC Transmission Systems Market for Railways, Revenue (USD Million) 2016 - 2026
  • 8.6.Industrial
    • 8.6.1.Global Flexible AC Transmission Systems Market for Industrial, Revenue (USD Million) 2016 - 2026
• Chapter 9.Flexible AC Transmission Systems Market – Vultage Analysis
  • 9.1.Global Flexible AC Transmission Systems Market Overview: by Vultage
    • 9.1.1.Global Flexible AC Transmission Systems Market Revenue Share, by Vultage, 2019 & 2026
  • 9.2.Global Flexible AC Transmission Systems Market Analysis/Overview – By Vultage
    • 9.2.1.132 kV to 220 kV – Overview/Analysis
    • 9.2.2.> 220 kV to 660 kV – Overview/Analysis
    • 9.2.3.> 660 kV – Overview/Analysis
  • 9.3.132 kV to 220 kV
    • 9.3.1.Global Flexible AC Transmission Systems Market for 132 kV to 220 kV, Revenue (USD Million) 2016 - 2026
  • 9.4.> 220 kV to 660 kV
    • 9.4.1.Global Flexible AC Transmission Systems Market for > 220 kV to 660 kV, Revenue (USD Million) 2016 - 2026
  • 9.5.> 660 kV
    • 9.5.1.Global Flexible AC Transmission Systems Market for > 660 kV, Revenue (USD Million) 2016 - 2026
• Chapter 10.Flexible AC Transmission Systems Market – Function Analysis
  • 10.1.Global Flexible AC Transmission Systems Market Overview: by Function
    • 10.1.1.Global Flexible AC Transmission Systems Market Revenue Share, by Function, 2019 & 2026
  • 10.2.Global Flexible AC Transmission Systems Market Analysis/Overview – By Function
    • 10.2.1.Vultage Contrul – Overview/Analysis
    • 10.2.2.Network Stabilization – Overview/Analysis
    • 10.2.3.Transmission Capacity – Overview/Analysis
    • 10.2.4.Harmonic Suppression – Overview/Analysis
    • 10.2.5.Others – Overview/Analysis
  • 10.3.Vultage Contrul
    • 10.3.1.Global Flexible AC Transmission Systems Market for Vultage Contrul, Revenue (USD Million) 2016 - 2026
  • 10.4.Network Stabilization
    • 10.4.1.Global Flexible AC Transmission Systems Market for Network Stabilization, Revenue (USD Million) 2016 - 2026
  • 10.5.Transmission Capacity
    • 10.5.1.Global Flexible AC Transmission Systems Market for Transmission Capacity, Revenue (USD Million) 2016 - 2026
  • 10.6.Harmonic Suppression
    • 10.6.1.Global Flexible AC Transmission Systems Market for Harmonic Suppression, Revenue (USD Million) 2016 - 2026
  • 10.7.Others
    • 10.7.1.Global Flexible AC Transmission Systems Market for Others, Revenue (USD Million) 2016 - 2026
• Chapter 11.Flexible AC Transmission Systems Market – Regional Analysis
  • 11.1.Global Flexible AC Transmission Systems Market: Regional Overview
    • 11.1.1.Global Flexible AC Transmission Systems Market Revenue Share, by Region, 2019 & 2026
    • 11.1.2.Global Flexible AC Transmission Systems Market Revenue, by Region, 2016 – 2026 (USD Million)
  • 11.2.North America
    • 11.2.1.North America Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
    • 11.2.2.North America Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
    • 11.2.3.North America Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026
    • 11.2.4.North America Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026
    • 11.2.5.North America Flexible AC Transmission Systems Market Revenue, by Vultage, 2016 – 2026
    • 11.2.6.North America Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026
    • 11.2.7. U.S.
    • 11.2.8.Canada
  • 11.3.Europe
    • 11.3.1.Europe Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
    • 11.3.2.Europe Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
    • 11.3.3.Europe Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026
    • 11.3.4.Europe Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026
    • 11.3.5.Europe Flexible AC Transmission Systems Market Revenue, by Vultage, 2016 – 2026
    • 11.3.6.Europe Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026
    • 11.3.7.Germany
    • 11.3.8.France
    • 11.3.9. U.K.
    • 11.3.10.Rest of Europe
  • 11.4.Asia Pacific
    • 11.4.1.Asia Pacific Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
    • 11.4.2.Asia Pacific Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
    • 11.4.3.Asia Pacific Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026
    • 11.4.4.Asia Pacific Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026
    • 11.4.5.Asia Pacific Flexible AC Transmission Systems Market Revenue, by Vultage, 2016 – 2026
    • 11.4.6.Asia Pacific Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026
    • 11.4.7.China
    • 11.4.8.Japan
    • 11.4.9.India
    • 11.4.10.Rest of Asia Pacific
  • 11.5.Latin America
    • 11.5.1.Latin America Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
    • 11.5.2.Latin America Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
    • 11.5.3.Latin America Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026
    • 11.5.4.Latin America Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026
    • 11.5.5.Latin America Flexible AC Transmission Systems Market Revenue, by Vultage, 2016 – 2026
    • 11.5.6.Latin America Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026
    • 11.5.7.Brazil
    • 11.5.8.Mexico
    • 11.5.9.Rest of Latin America
  • 11.6.The Middle-East and Africa
    • 11.6.1.The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
    • 11.6.2.The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
    • 11.6.3.The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026
    • 11.6.4.The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026
    • 11.6.5.The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Vultage, 2016 – 2026
    • 11.6.6.The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026
• Chapter 12.Company Profiles
  • 12.1.Hyosung
  • 12.2.GE Grid Sulutions
  • 12.3.NR Electric
  • 12.4.ABB
  • 12.5.Adani Power
  • 12.6.American Electric Power
  • 12.7.Alstom
  • 12.8.Mitsubishi Electric
  • 12.9.Siemens
  • 12.1.Eaton

List of Figures 

FIG. 1 Research Methodology
FIG. 2 Research Methodology – Basic Overview
FIG. 3 Research Methodology – Detailed View
FIG. 4 Global Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
FIG. 5 Porter’s Five Forces Analysis for Global Flexible AC Transmission Systems Market
FIG. 6 Global Flexible AC Transmission Systems Market Attractiveness, By Compensation Type
FIG. 7 Global Flexible AC Transmission Systems Market Attractiveness, By Industry Vertical
FIG. 8 Global Flexible AC Transmission Systems Market Attractiveness, By Voltage
FIG. 9 Global Flexible AC Transmission Systems Market Attractiveness, By Function
FIG. 10 Global Flexible AC Transmission Systems Market Attractiveness, By End-User
FIG. 11 Company Share Analysis, 2019
FIG. 12 Global Flexible AC Transmission Systems Market Revenue Share, by Compensation Type, 2019 & 2026
FIG. 13 Global Flexible AC Transmission Systems Market for Static Var Compensation (SVC), Revenue (USD Million) 2016 - 2026
FIG. 14 Global Flexible AC Transmission Systems Market for Static Compensator (STATCOM), Revenue (USD Million) 2016 - 2026
FIG. 15 Global Flexible AC Transmission Systems Market for Series Compensation, Revenue (USD Million) 2016 - 2026
FIG. 16 Global Flexible AC Transmission Systems Market for Combined Compensation, Revenue (USD Million) 2016 - 2026
FIG. 17 Global Flexible AC Transmission Systems Market Revenue Share, by Industry Vertical, 2019 & 2026
FIG. 18 Global Flexible AC Transmission Systems Market for Utilities, Revenue (USD Million) 2016 - 2026
FIG. 19 Global Flexible AC Transmission Systems Market for Renewables, Revenue (USD Million) 2016 - 2026
FIG. 20 Global Flexible AC Transmission Systems Market for Railways, Revenue (USD Million) 2016 - 2026
FIG. 21 Global Flexible AC Transmission Systems Market for Industrial, Revenue (USD Million) 2016 - 2026
FIG. 22 Global Flexible AC Transmission Systems Market Revenue Share, by Voltage, 2019 & 2026
FIG. 23 Global Flexible AC Transmission Systems Market for 132 kV to 220 kV, Revenue (USD Million) 2016 - 2026
FIG. 24 Global Flexible AC Transmission Systems Market for > 220 kV to 660 kV, Revenue (USD Million) 2016 - 2026
FIG. 25 Global Flexible AC Transmission Systems Market for > 660 kV, Revenue (USD Million) 2016 - 2026
FIG. 26 Global Flexible AC Transmission Systems Market Revenue Share, by Function, 2019 & 2026
FIG. 27 Global Flexible AC Transmission Systems Market for Voltage Control, Revenue (USD Million) 2016 - 2026
FIG. 28 Global Flexible AC Transmission Systems Market for Network Stabilization, Revenue (USD Million) 2016 - 2026
FIG. 29 Global Flexible AC Transmission Systems Market for Transmission Capacity, Revenue (USD Million) 2016 - 2026
FIG. 30 Global Flexible AC Transmission Systems Market for Harmonic Suppression, Revenue (USD Million) 2016 - 2026
FIG. 31 Global Flexible AC Transmission Systems Market for Others, Revenue (USD Million) 2016 - 2026
FIG. 32 Global Flexible AC Transmission Systems Market Revenue Share, by Region, 2019 & 2026
FIG. 33 North America Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
FIG. 34 Europe Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
FIG. 35 Asia Pacific Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
FIG. 36 Latin America Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
FIG. 37 The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, 2016 - 2026 (USD Million)
 

List of Tables

TABLE 1 Global Flexible AC Transmission Systems Market: Snapshot
TABLE 2 Drivers of the Flexible AC Transmission Systems Market: Impact Analysis
TABLE 3 Restraints for the Flexible AC Transmission Systems Market: Impact Analysis
TABLE 4 Global Flexible AC Transmission Systems Market Revenue, by Region, 2016 – 2026 (USD Million)
TABLE 5 North America Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 6 North America Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026 (USD Million)
TABLE 7 North America Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026 (USD Million)
TABLE 8 North America Flexible AC Transmission Systems Market Revenue, by Voltage, 2016 – 2026 (USD Million)
TABLE 9 North America Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026 (USD Million)
TABLE 10 Europe Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 11 Europe Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026 (USD Million)
TABLE 12 Europe Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026 (USD Million)
TABLE 13 Europe Flexible AC Transmission Systems Market Revenue, by Voltage, 2016 – 2026 (USD Million)
TABLE 14 Europe Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026 (USD Million)
TABLE 15 Asia Pacific Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 16 Asia Pacific Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026 (USD Million)
TABLE 17 Asia Pacific Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026 (USD Million)
TABLE 18 Asia Pacific Flexible AC Transmission Systems Market Revenue, by Voltage, 2016 – 2026 (USD Million)
TABLE 19 Asia Pacific Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026 (USD Million)
TABLE 20 Latin America Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 21 Latin America Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026 (USD Million)
TABLE 22 Latin America Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026 (USD Million)
TABLE 23 Latin America Flexible AC Transmission Systems Market Revenue, by Voltage, 2016 – 2026 (USD Million)
TABLE 24 Latin America Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026 (USD Million)
TABLE 25 The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 26 The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Compensation Type, 2016 – 2026 (USD Million)
TABLE 27 The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Industry Vertical, 2016 – 2026 (USD Million)
TABLE 28 The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Voltage, 2016 – 2026 (USD Million)
TABLE 29 The Middle-East and Africa Flexible AC Transmission Systems Market Revenue, by Function, 2016 – 2026 (USD Million)