Flexible AC Transmission Systems Market Size By Configuration (Series, Shunt, Combined), By Product (SVC, TCSC, STATCOM, UPFC), By Voltage (132 kV to 220 kV, > 220 kV to 660 kV, > 660 kV), By Application (Steady State {Congestion Management, ATC Improvement, Reactive Power & Voltage Control, Loading Margin Improvement, Power Flow Balancing & Control}, Dynamic {Transient Stability Enhancement, Oscillation Damping, Dynamic Voltage Control, SSR Elimination, Power System Interconnection), By End Use (Utilities, Renewables [Wind (Onshore, Offshore), Solar], Smart Grid, Railways, Metal & Mining Industries, Oil & Gas), Industry Analysis Report, Regional Analysis (U.S., Canada, Mexico, Germany, UK, Ireland, Norway, France, Spain, Sweden, China, India, Japan, South Korea, Indonesia, Malaysia, Vietnam, Saudi Arabia, Qatar, UAE, South Africa, Brazil, Argentina), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Mar 2019 | 650 Pages | Report ID: GMI3182 Report Format: PDF

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Industry Trends

Flexible AC Transmission Systems Market in 2018 surpassed USD 1.4 billion and is anticipated to witness an annual installation of over 20 ‘000 MVAr by 2025.

Flexible AC Transmission Systems Market Size, By Configuration, 2018 & 2025 (USD Million)
Flexible AC Transmission Systems Market Size, By Configuration, 2018 & 2025 (USD Million) ?

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Power transmission industry in the recent years, has observed significant growth owing to the rising demand for effective transmission & distribution control systems. Growing demand for retrofitting of existing electrical infrastructure along with increasing investments towards efficient grid expansion will drive the global market. Economical costs, safe operation, and network reliability are some of the essential parameters anticipated to augment the industry landscape.

The industry in the current regime has gained significance owing to the rising concerns associated with electrical supply faults, fire, health, and other operational hazards. Advancing product portfolios coupled with the leading industry participants undertaking organic and inorganic strategies to sustain and enhance operational sustainability will further augment the market share.

Flexible AC Transmission Systems Market, By Configuration

Increase in transmission capacity, improved system stability and lesser installation time are few indispensable parameters positively influencing the deployment of series FACTS market. In addition, favourable consumer tendencies toward the deployment of these units with an aim to safeguard the living environment along with enhanced life expectancy of the electric infrastructure will further complement the industry outlook.

Shunt controller units across the FACTS market are anticipated to grow over 9% by 2025. Lesser installation cost in comparison to the available counterparts, higher rating along with improved efficiency across distribution circuits are the key factors favouring the product penetration. Furthermore, lack of efficient electric infrastructure across developing nations in line with a shift toward the revamping of existing network across developed countries have further incorporated a favourable business scenario.

Flexible AC Transmission Systems Market, By Product

In the current industry scenario, static synchronous compensator (STATCOM) holds the majority share on account of improved stability and power factor across utility systems. Ability to provide capacitive reactive power during faults & abnormal voltage drops along with faster response pertaining to thyristor firing are few parameters complementing the market.

U.S. Flexible AC Transmission System Market Size, By Product (MVAr)
U.S. Flexible AC Transmission System Market Size, By Product (MVAr)

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Ability to curb voltage fluctuations, unbalanced loads, power oscillations along with resonance across varying reactive or active loads have integrated a favourable scenario for static VAR compensator units. Increasing adoption of advanced, energy efficient, reliable and secure fire-resistant electric components have further escalated the market growth.

Flexible AC Transmission Systems Market, By Voltage

Rapid expansion of transmission networks across commercial and residential establishments have energized the 132kV to 220kV flexible AC transmission systems industry. Aesthetic proximity and versatile product configurations are the prime factors influencing the product deployment. Furthermore, incorporation of renewable energy networks has compelled installers and utilities to focus on restructuring the existing electrical infrastructure. The traditional systems are being developed and enhanced depending on the resonating frequencies and bandwidth to sustain the volatility across the sustainable energy networks.

> 220kV to 660kV components in the current industry scenario have gained significant impetus subject to the large-scale commercial development and refurbishment of the small-scale industrial peripherals across developing countries. Moreover, suburban migration has led to the expansion of large multi-storey apartments and residential complexes, boosting the product demand. Increasing dependency on large industries including power generation and manufacturing facilities has further fostered the market growth.

Flexible AC Transmission Systems Market, By Application

Post-contingency voltage control increase of thermal loading, reduction in short circuit level, power flow control and loop flows control are the key features positively influencing the growth of FACTS controllers across the steady state applications. In addition, fast acting switching response, greater reliability, improved voltage stability and decreased losses in power systems will nurture the overall market.

Dynamic application across the global market will witness an upsurge owing to their effective integration to provide voltage control, oscillation damping, transient stability enhancement and SSR elimination. Harmonic volatility, current fluctuations, and unbalanced load conditions have consistently been hampering revenue realization and grid sustainability across developing economies. Henceforth, rising peak load demand along with drifting inclination towards effective grid infrastructure will further fuel the technological adoption.

Flexible AC Transmission Systems Market, By End Use

In the current industry scenario, process and manufacturing industries are essential across certain economies for revenue realization and investments. Developed nations have witnessed significant dependency on manufactured & processed products which in turn have aligned installer & utility preferences toward the integration of effective grid networks across their peripherals. Furthermore, increasing mining and metal extraction globally have led to significant increase in demand for electricity networks to ensure process reliability & continual operations which in turn will stimulate the FACTS market share.

Utility aided grid networks have been influenced by regulatory and government directives pertaining to electric infrastructure deployment. Favourable government initiatives toward rural electrification and the incorporation of decentralized micro-grid infrastructure across grid isolated areas have augmented the market. Furthermore, integration of sustainable energy infrastructure favoured by flow of funds from local regulatory authorities and institutions including the world bank, IFC, and similar organizations across developing regions will positively sway the industry dynamics.

Flexible AC Transmission Systems Market, By Region

North America FACTS market is expected to grow over USD 420 million by 2025. Rise in demand owing to increased investments toward the enhancement of long-route grid infrastructure and retrofitting of domestic electric network have reinforced the flexible AC transmission market. In 2018, the U.S. Government introduced plans to invest an amount worth USD 10 billion to establish new electric infrastructure, which is anticipated to lessen the curtailment rate across Western Transmission & Distribution Network.

Asia Pacific Flexible AC Transmission System Market Size By Country, 2025 (USD Million)
Asia Pacific Flexible AC Transmission System Market Size By Country, 2025 (USD Million)

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FACTS market across Middle East, Africa and Asia Pacific has witnessed an upsurge in association to the growing demand for efficient T&D technologies. Rising demand for refurbishment of traditional electrical setup in line with increasing fund flow across the power sector will enhance the business outlook. In 2018, regulators across Saudi Arabia have planned to invest over USD 130 billion in its Water & Energy projects.

Competitive Market Share

Eminent global market participants include GE, Siemens, ABB, Mitsubishi, BHEL, NR Electric, Infineon, Rongxin, Hyosung, Ingeteam and American Superconductor.

Flexible AC Transmission Systems Industry Background

Flexible AC Transmission Systems Market Segmentation

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A flexible AC transmission system (FACTS) is made up of static equipment utilized for the alternating current transmission of electrical energy. This device is used to increase power transfer capability and enhance controllability.

What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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