Market Overview:
The global flexible AC transmission equipment market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electricity and rising investments in renewable energy sources. In addition, the growing need for reliable and efficient power transmission systems is also contributing to the growth of this market. The global flexible AC transmission equipment market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into shunt compensation and series compensation. Shunt compensation dominates this market owing to its ability to provide voltage regulation without affecting power flow or system stability. On the basis of application, metal industry accounts for a major share in this market followed by railway, mining, utilities, and others segments respectively.
Product Definition:
Flexible AC transmission equipment (FACTE) is a term used in the electric power industry for equipment that allows the flow of electric power from one point to another, over an extended period of time, with minimal disruption. FACTE includes devices such as transformers, capacitors and reactors. The importance of FACTE is that it allows utilities to respond quickly to fluctuations in electricity demand by adjusting the amount of power being transmitted. This helps avoid blackouts and other disruptions in service.
Shunt Compensation:
Shunt compensation is a device that helps in increasing the power factor of an electrical circuit. It does this by shifting some of the load from one pole to another, which has a greater overall electromotive force (EMF). In other words, it helps in making high voltage more sinusoidal.
The growth factor for shunt compensation is based on two factors: firstly, the need to improve stability.
Series Compensation:
Series compensation is a technique used to cancel the reactive power of an electrical network and make the system work in steady state. It does this by using a capacitor bank connected across each phase of the circuit. The series compensation uses high voltage electrolytic capacitors which are charged up to 16,000 volts during regular operations but can be increased up to 32,000 volts with no change in frequency when needed.
Application Insights:
The metal industry application segment led the market and accounted for more than 24.0% share of the global revenue in 2017. The growth can be attributed to increasing demand for metals, which is a vital raw material in various industries including construction, automotive and electronics. In addition, growing investments by companies such as Rio Tinto and BHP Billiton to expand their operations are expected to drive the demand further over the forecast period.
Flexible AC transmission equipment has been installed at numerous power plants across China due to its ability to adjust output frequency accordingto load conditions with low losses and improved efficiency over conventionalAC systems.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period owing to increasing demand for renewable energy. The growing population in countries, such as China and India, has led to an increased demand for electricity. Moreover, rising industrialization coupled with a growing need for power in industries is anticipated to drive product demand over the next eight years.
The metal industry segment accounted for a major share of revenue generation in 2017 due to its vital role in economic growth and technological progressions across all sectors of society.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Rapid deployment of renewable energy sources such as solar and wind power
- Development of smart grids and grid modernization projects
- Proliferation of electric vehicles and the need for charging infrastructure
- Growing demand for data center cooling
Scope Of The Report
Report Attributes
Report Details
Report Title
Flexible AC Transmission Equipment Market Research Report
By Type
Shunt Compensation, Series Compensation
By Application
Metal Industry, Railway, Mining, Utilities, Others
By Companies
ABB, Siemens, RXPE, Sieyuan Electric, Mitsubishi Electric, GE, Toshiba, AMSC, Hyosung, Alstom
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
185
Number of Tables & Figures
130
Customization Available
Yes, the report can be customized as per your need.
Global Flexible AC Transmission Equipment Market Report Segments:
The global Flexible AC Transmission Equipment market is segmented on the basis of:
Types
Shunt Compensation, Series Compensation
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Metal Industry, Railway, Mining, Utilities, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Siemens
- RXPE
- Sieyuan Electric
- Mitsubishi Electric
- GE
- Toshiba
- AMSC
- Hyosung
- Alstom
Highlights of The Flexible AC Transmission Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Shunt Compensation
- Series Compensation
- By Application:
- Metal Industry
- Railway
- Mining
- Utilities
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Flexible AC Transmission Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Flexible AC transmission equipment is a type of electrical power transmission system that allows for variable speed operation. This type of system can be used to transmit power from a generating station to an electric utility grid.
Some of the major companies in the flexible ac transmission equipment market are ABB, Siemens, RXPE, Sieyuan Electric, Mitsubishi Electric, GE, Toshiba, AMSC, Hyosung, Alstom.
The flexible ac transmission equipment market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Flexible AC Transmission Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Flexible AC Transmission Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Flexible AC Transmission Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Flexible AC Transmission Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Flexible AC Transmission Equipment Market Size & Forecast, 2020-2028
4.5.1 Flexible AC Transmission Equipment Market Size and Y-o-Y Growth
4.5.2 Flexible AC Transmission Equipment Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Shunt Compensation
5.2.2 Series Compensation
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Metal Industry
6.2.2 Railway
6.2.3 Mining
6.2.4 Utilities
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Flexible AC Transmission Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Flexible AC Transmission Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Shunt Compensation
9.6.2 Series Compensation
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Metal Industry
9.10.2 Railway
9.10.3 Mining
9.10.4 Utilities
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Shunt Compensation
10.6.2 Series Compensation
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Metal Industry
10.10.2 Railway
10.10.3 Mining
10.10.4 Utilities
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Shunt Compensation
11.6.2 Series Compensation
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Metal Industry
11.10.2 Railway
11.10.3 Mining
11.10.4 Utilities
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Shunt Compensation
12.6.2 Series Compensation
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Metal Industry
12.10.2 Railway
12.10.3 Mining
12.10.4 Utilities
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Shunt Compensation
13.6.2 Series Compensation
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Metal Industry
13.10.2 Railway
13.10.3 Mining
13.10.4 Utilities
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Flexible AC Transmission Equipment Market: Competitive Dashboard
14.2 Global Flexible AC Transmission Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Siemens
14.3.3 RXPE
14.3.4 Sieyuan Electric
14.3.5 Mitsubishi Electric
14.3.6 GE
14.3.7 Toshiba
14.3.8 AMSC
14.3.9 Hyosung
14.3.10 Alstom
