Global Flexible Alternating Current Transmission Systems Market Report By Compensation Type (Shunt Compensation (Static VAR Compensation (SVC), Static Synchronous Compensator (STATCOM)), Series Compensation (Thyristor Series Capacitor, Fixed Series Capacitor), Combined Compensation), By Application (Voltage Control, Power Control), By End-user (Utilities, Industrial, Others (Including Railways)) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2022-2030

The global demand for Flexible Alternating Current Transmission Systems Market is presumed to reach the market size of nearly USD 4.73 BN by 2030 from USD 2.92 BN in 2022 with a CAGR of 6.21% under the study period 2023 - 2030.

Flexible alternating current transmission systems (FACTS) refer to a set of advanced power electronic devices and systems used in electrical power transmission networks. These systems are designed to enhance the controllability, flexibility, and efficiency of the transmission system, leading to improved power quality, increased transmission capacity, and better grid stability. These devices utilize power electronics and control systems to regulate voltage, control power flow, and stabilize the grid. They can be deployed at various points along the transmission line or at substations to address specific challenges and optimize the performance of the power network.

Market Dynamics

The increasing demand for electricity due to population growth, urbanization, and industrialization creates a need for optimized transmission infrastructure. These systems provide enhanced capacity, efficiency, and power delivery capabilities to meet this growing demand. Grid modernization initiatives around the world also drive the flexible alternating current transmission systems (FACTS) market. Countries invest in upgrading their power networks to improve reliability, stability, and efficiency. These technologies play a crucial role in this modernization process by providing advanced control and regulation capabilities for power flow and voltage control. The integration of renewable energy sources presents challenges related to grid stability and power quality. FACTS systems offer solutions to manage the variability of renewable power generation, ensuring smooth integration and grid stability. Furthermore, ageing transmission infrastructure requires upgrades. Flexible alternating current transmission systems offer a cost-effective alternative or complementary solution to traditional infrastructure reinforcement, enhancing transmission capacity and performance without extensive investments. Government initiatives and policies supporting grid modernization, renewable energy integration, and energy efficiency also contribute to the growth of the FACTS market. These policies create a favourable environment for the adoption of these technologies.

The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of flexible alternating current transmission systems. The growth and trends of flexible alternating current transmission systems industry provide a holistic approach to this study. 

Market Segmentation

This section of the flexible alternating current transmission systems market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities. 

By Compensation Type

• Shunt Compensation (Static Var Compensation (Svc), Static Synchronous Compensator (Statcom))
• Series Compensation (Thyristor Series Capacitor, Fixed Series Capacitor)
• Combined Compensation

By Application

• Voltage Control
• Power Control

By End-User

• Utilities
• Industrial
• Others (Including Railways)

Regional Analysis

This section covers the regional outlook, which accentuates current and future demand for the Flexible Alternating Current Transmission Systems market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

Global Flexible Alternating Current Transmission Systems Market Share by Region (Representative Graph)

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the flexible alternating current transmission systems market include Siemens AG, GENERAL ELECTRIC, Toshiba International Corporation, Mitsubishi Electric Corporation, American Superconductor, Hitachi ABB Power Grids, NR Electric Co. Ltd., Infineon Technologies AG, Ingeteam Power Technology S.A. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.