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Flexible AC Transmission System Market Value: Future Demands

The global flexible AC transmission system market is anticipated to reach USD 1.7 billion by 2027 from USD 1.22 billion in 2020, thus expected to grow at a CAGR of 5.6% during the forecast period 2021-2027.<br><br>Flexible AC Transmission System (FACTS) is a power electronics-based system composed of static equipment used to transmit AC power. It aims to improve the controllability and increase the power transmission capacity of the network.

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Flexible AC Transmission System Market Value: Future Demands

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  1. Global Flexible AC Transmission System Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Global Flexible AC Transmission System Market The global flexible AC transmission system market is anticipated to reach USD 1.7 billion by 2027 from USD 1.22 billion in 2020, thus expected to grow at a CAGR of 5.6% during the forecast period 2021-2027. Flexible AC Transmission System (FACTS) is a power electronics-based system composed of static equipment used to transmit AC power. It aims to improve the controllability and increase the power transmission capacity of the network. The global flexible AC transmission system (FACTS) market is anticipated to grow significantly owing to an increase in demand for modern energy systems and an increase in investments for energy transmission systems. Flexible AC transmission systems support dynamic reactive or inductive power, improves system stability, and controls real and reactive power to the grid. This ensures efficient machine operation and increases system utilization.

  4. Global Flexible AC Transmission System Market The global flexible Ac transmission system market is experiencing rapid growth owing to increasing investment for modernization of transmission lines and rising demand for advanced controllability of energy systems. These two factors have played a substantial role in system stability and reactive power support, which augments the demand for FACTS devices. Harmonic minimization, rapid voltage regulation, improved energy supply, and short-term amortization are estimated to drive the growth of the flexible AC transmission system market during the forecast period. The high initial investment for the incorporation and installation of FACTS devices will hamper the market growth. There is a lack of awareness regarding the advantages and capabilities of FACTS in emerging economies that act as a restraint for the growth of the flexible AC transmission systems market.

  5. Global Flexible AC Transmission System Market Key players in the flexible AC transmission systems market are focusing on organic and inorganic strategies such as mergers & acquisitions, product development, R&D, tie-ups & collaborations to have a competitive edge in the global market. GE Renewable Energy's grid solutions business has fueled the Dynamic Reactive Compensator (DRC) project for the UK's National Grid. The project is part of Europe's largest utility-level STATCOM initiative. Some of the key players operating in the flexible AC transmission system market: Siemens, ABB, NR Electric Co., Ltd., General Electric, Mitsubishi Electric Corporation, HYOSUNG HEAVY INDUSTRIES, Adani Group, Alstom, CG Power and Industrial Solutions Limited, and Infineon Technologies AG.

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