Flexible Ac Current Transmission Systems Market
The market for flexible AC transmission systems was estimated to be worth USD 754.95 million in 2021 and is anticipated to grow to USD 1449.96 million by 2029, displaying a CAGR of 8.50% over the forecast period of 2022–2029. The static equipment that makes up a flexible AC transmission system, or FACTS. This system is used to transmit electrical energy in AC. The system is intended to increase the network’s capacity for power transfer and controllability. Typically, this system is based on power electronics. Utilizing a flexible AC transmission technology contributes to improving the AC grids’ dependability. Additionally, it aids in lowering delivery costs. By supplying reactive or inductive power to the grid, use of these devices aids in enhancing the quality of transmission and overall efficacy of power transmission.
Grid operators are increasingly using FACTs to balance the reactive power compensation in the transmission grid. The advantages of flexible alternating current transmission systems include controllability, stability, and power transfer capabilities of the AC grids, supporting market growth prospects. The AC grid infrastructure’s flexible AC transmission system (FACT) devices, which offer a variety of capabilities, are helping utilities, businesses, and railroads adopt the system. Solution providers have shifted their focus over time to focus on providing goods that stop transmission line overloading and encourage network stabilisation for AC power transmission. on the flexible energy markets, the deregulation of the energy markets and the desire for large-scale distributed energy generation in developed nations are generating significant growth prospects for businesses.
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Flexible Ac Current Transmission Systems Market : Segment Analysis
Global Flexible Ac Current Transmission Systems Market: Major Players
Xian Electric Engineering
Siemens
America Superconductor Corporation
Alstom
Toshiba
General Electric
Mitsubishi Electric
ABB
Eaton
Global Flexible Ac Current Transmission Systems Market: Types
Static Var Compensator or SVC
Static Synchronous Compensator or STATCOM
Thyristor Controlled Breaking Reactor or TCSC
Thyristor Controlled Series Capacitor or TSC
Thyristor Switched Series Reactor or TSR
Static Synchronous Series Compensator or SSSC
Global Flexible Ac Current Transmission Systems Market: Applications
Steel Industry
Mining Industry
Electric Utilities Industry
Global Flexible Ac Current Transmission Systems Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Flexible Ac Current Transmission Systems market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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