Fixed Series Compensation Market Analysis

Fixed Series Compensation Market Analysis

In terms of type, the fixed series compensation market is segregated into low, medium, and high voltages. Low-voltage FSC held a market share of over 20% in 2021. The demand for low-voltage fixed series compensation will witness substantial growth by end of 2030 owing to the need to reduce voltage instability and improve the power factor of connected devices. Residential or utility and small commercial customers primarily require low voltages, i.e., less than 1,000 V of voltage.
 

By application, the fixed series compensation market is categorized into oil & gas, utilities, and others. The utilities segment will attain about 5% gains through 2030. The surging demand for electricity in developed and emerging nations has put an excessive burden on the existing electricity grid network infrastructure. Fixed series compensation finds usage in utilities for managing and maintaining grid efficiency & reliability at its full capacity, which will propel product uptake in these purposes.
 

Regionally, the global fixed series compensation market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
 

The Latin America FSC industry is expected to reach a valuation of around USD 25 million by 2030. The region is observing a widespread espousal of Industry 4.0 by several enterprises across various sectors. The increasing demand from numerous sectors, such as oil & gas and power, to cut asset downtime & lead time, improve product efficiency, and reduce retail shrinkage will drive regional market growth.

Additionally, Europe is also poised to record significant growth rate of approximately 5% through the forecast period.