Global Flexible AC Transmission (FACT) Systems Market Set to Reach $1.9 Billion by 2030, Driven by Growing Investments in Power Transmission Infrastructure

DUBLIN, July 13, 2023 /PRNewswire/ -- The "Flexible AC Transmission (FACT) Systems: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Flexible AC Transmission (FACT) Systems estimated at US$1.2 Billion in the year 2022, is projected to reach a revised size of US$1.9 Billion by 2030, growing at a CAGR of 5.8% over the analysis period 2022-2030.

Shunt, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach US$1.5 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Series segment is readjusted to a revised 5.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $238.1 Million, While China is Forecast to Grow at 7.5% CAGR

The Flexible AC Transmission (FACT) Systems market in the U.S. is estimated at US$238.1 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$276 Million by the year 2030 trailing a CAGR of 7.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$254.1 Million by the year 2030.

Select Competitors (Total 25 Featured) -

• Hitachi ABB Power Grids Ltd
• American Superconductor
• GE Grid Solutions
• Hyosung Power & Industrial Systems Performance Group
• LS ELECTRIC Co., Ltd
• Mitsubishi Electric Corporation
• Rongxin Power Engineering
• S&C Electric Company
• Siemens Energy Global GmbH & Co. KG
• Sieyuan Electric Co., Ltd.
• Toshiba Energy Systems & Solutions Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of COVID-19 Pandemic and Looming Global Recession
• COVID-19 Impacts Electricity Consumption: Average Annual Growth Rate of Electricity Demand by Select Region/Country for 2001-06, 2006-10, 2011-15 and 2020
• Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
• World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
• Electric Power Transmission and Distribution (T&D) Equipment: A Prelude
• Flexible Alternating Current Transmission (FACT) Systems: An Introduction
• Evolutionary Scan of FACTS Technology
• Generations of FACTS
• Types of FACTS Devices
• Based on Compensation Type
• Based on Voltage Type
• Based on Connection Mode
• Methods to Connect FACTS with Power System
• Series Compensation
• Shunt Compensation
• Major Benefits of FACTS
• Key Applications of FACTS
• FACTS Emerges as a Vital Technology for Efficient Bulk Power Transmission
• Global Market Prospects & Outlook
• Shunt Controller: The Dominant Compensation Type
• Voltage Control Applications Lead Global Market
• Utilities Emerges as the Largest End-Use Market
• Developing Regions to Spearhead Future Growth
• Recent Market Activity
• Flexible AC Transmission (FACT) Systems - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Growing Pressure on Power Transmission Grids and Rising Investments in Power Transmission Infrastructure to Benefit FACTS Market
• Global Investments into Power Transmission & Distribution Infrastructure (in US$ Billion) for 2010, 2015, 2020, 2030 & 2040
• Global Investments into Power T&D Infrastructure by Region (in %) for 2020 and 2040
• Surging Energy Consumption and the Resulting Rise in Power Production, Transmission and Distribution: Foundation for Market Growth
• Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
• Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
• China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
• Growing Focus on Renewable Energy-Based Power Projects Augurs Well for Market
• Global Energy Mix: 1990 Vs 2020 Vs 2030
• Global Renewable Energy Breakdown by Type: 2010 Vs 2030
• Global Energy Production: Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share by Energy Source (2030 & 2040)
• Trend towards Distributed Power Generation Powers Demand for FACT Devices
• With Smart Grid Implementations Gaining Traction, Opportunities in Store for the FACTS Market
• Global Market for Smart Grids (in US$ Billion) for the Years 2020E
• Aging Power T&D Infrastructure and Need to Replacement & Upgrade of Obsolete Power Systems to Spur Demand for FACT Equipment
• Imperative Need to Prevent Large-Scale Blackouts & Outages Drives Importance of FACT Equipment
• As Governments Focus on Development of High-Speed Trains and Bullet Trains, FACTS Market Poised to Grow
• Global Level of Deployment of High-Speed Rail Lines by Select Leading Countries
• Growing Importance of Variable Compensation Technologies
• Shift towards Variable Shunt Compensation Equipment
• Technology Advancements & Product Developments to Boost Market Prospects
• Customer Loyalty Building: Imperative for Sustenance
• Challenges Facing FACT Systems Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/2a4eyn

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