Market Overview:
The global FACTS market is expected to grow from USD 2.5 billion in 2018 to USD 7.8 billion by 2030, at a CAGR of 16.9% from 2018 to 2030. The growth of the global FACTS market can be attributed to the increasing demand for electricity and rising concerns about grid reliability and security. The shunt compensation segment is expected to hold the largest share of the global FACTS market in 2018, owing to its ability to improve power quality and reduce transmission losses.
 Industry Outlook.svg)
Product Definition:
Flexible Alternating Current Transmission Systems (FACTS) are a type of power transmission system that use electronic devices to control the flow of alternating current (AC) through the network. FACTS can be used to stabilize the voltage and frequency, improve power transfer capability, and reduce electrical losses in the network.
Shunt Compensation:
Shunt compensation is a device that helps in increasing the output of electric power from the source to the load. It works by changing some of the input current and reduces or eliminates reactive power loss. The main function of shunt compensation is to eliminate or reduce switching losses, which are usually caused due to fluctuation in voltage and frequency along with reactive power loss.
Series Compensation:
Series compensation is a technique used to cancel the reactive power of a plant and is achieved by adding an external compensating current source. The FACTS system uses this technique to provide series compensation at the distribution feeder. Series compensation reduces the reactive power of a FACTS system, thus making it more efficient as compared to conventional systems which use parallel compensation.
Application Insights:
The metal industry was the largest application segment in 2017 and is expected to witness significant growth over the forecast period. The rising demand for metals, particularly from China, India and Japan owing to rapid industrialization and increasing disposable income levels is expected to drive the market growth over the forecast period.
FACTS systems are used in power generation plants for regulating electricity output as per requirement. They are also used in coal-fired power plants as shunt compensation systems or series compensation depending upon requirements of voltage level across stations of transmission network. Increasing investments by governments for expanding railway infrastructure along with growing demand for electric vehicles is anticipated to propel market growth over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing a growing demand for reliable power supply owing to rapid industrialization and economic development. In addition, rising electricity consumption due to increasing population has led governments of various countries in Asia Pacific to plan large-scale investments for expanding the existing power generation capacities. This, in turn, is likely to boost product demand over the next eight years.
North America was estimated as second largest regional market by Flexible Alternating Current Transmission Systems (FACTS) in 2017 owing both volume as well as revenue growth of shunt compensated FACTS systems mainly because they are used widely across industries that require high quality electric current such as medical devices manufacturing and chemical processing which requires high precision current flow rate within a certain range at any given time along with other factors such as voltage drop and frequency regulation requirements from utility companies or distribution utilities etc.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Rapid expansion of renewable energy sources such as wind and solar, which need flexible transmission systems for grid integration
- Development of smart grids that require FACTS controllers for better power flow management
- Growing concerns about grid security and the need for reliable backup power systems
- Advances in technology that make FACTS devices more efficient and cost-effective
Scope Of The Report
Report Attributes
Report Details
Report Title
Flexible Alternating Current Transmission Systems (FACTS) Market Research Report
By Type
Shunt Compensation, Series Compensation
By Application
Metal Industry, Utilities, Railway, Mining
By Companies
ABB, Siemens, Mitsubishi Electric, RXPE, GE, Toshiba, Sieyuan Electric, Hyosung, AMSC
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
150
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Flexible Alternating Current Transmission Systems (FACTS) Market Report Segments:
The global Flexible Alternating Current Transmission Systems (FACTS) 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, Utilities, Railway, Mining
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
- Mitsubishi Electric
- RXPE
- GE
- Toshiba
- Sieyuan Electric
- Hyosung
- AMSC
 Market Overview.svg)
Highlights of The Flexible Alternating Current Transmission Systems (FACTS) 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
- Utilities
- Railway
- Mining
- 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 Alternating Current Transmission Systems (FACTS) 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
 Market Statistics.svg)
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?
FACTS is a type of alternating current transmission system that uses flexible cables to carry power between generators and consumers. The system allows for more efficient use of energy by allowing generators to be located closer to consumers, which reduces the amount of energy needed to transport power.
Some of the major companies in the flexible alternating current transmission systems (facts) market are ABB, Siemens, Mitsubishi Electric, RXPE, GE, Toshiba, Sieyuan Electric, Hyosung, AMSC.
The flexible alternating current transmission systems (facts) market is expected to register a CAGR of 16.9%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Flexible Alternating Current Transmission Systems (FACTS) 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 Alternating Current Transmission Systems (FACTS) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Flexible Alternating Current Transmission Systems (FACTS) 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 Alternating Current Transmission Systems (FACTS) 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 Alternating Current Transmission Systems (FACTS) Market Size & Forecast, 2020-2028
4.5.1 Flexible Alternating Current Transmission Systems (FACTS) Market Size and Y-o-Y Growth
4.5.2 Flexible Alternating Current Transmission Systems (FACTS) 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 Utilities
6.2.3 Railway
6.2.4 Mining
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Flexible Alternating Current Transmission Systems (FACTS) 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 Alternating Current Transmission Systems (FACTS) 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 Utilities
9.10.3 Railway
9.10.4 Mining
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 Utilities
10.10.3 Railway
10.10.4 Mining
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 Utilities
11.10.3 Railway
11.10.4 Mining
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 Utilities
12.10.3 Railway
12.10.4 Mining
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 Utilities
13.10.3 Railway
13.10.4 Mining
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 Alternating Current Transmission Systems (FACTS) Market: Competitive Dashboard
14.2 Global Flexible Alternating Current Transmission Systems (FACTS) 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 Mitsubishi Electric
14.3.4 RXPE
14.3.5 GE
14.3.6 Toshiba
14.3.7 Sieyuan Electric
14.3.8 Hyosung
14.3.9 AMSC
