Selbyville, Delaware Global Flexible AC Transmission Systems Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Flexible AC Transmission Systems Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Flexible AC Transmission Systems market and provides information regarding the revenue for the period 2020 to 2027.
Global Flexible AC Transmission Systems market is valued approximately USD 1.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.4 % over the forecast period 2020-2027. Flexible AC transmission system provides dynamic support for reactive power, improves system reliability, and actual and reactive power controls. This ensures smooth machine operation and increases device efficiency. The Flexible AC Transmission Systems market is driven by the growing benefits offered by the FACTS market, growth in transmission lines, increased usage of renewable energy in power grids, and increased demand for STATCOM voltage control devices.
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Global transmission investment spending is gradually growing, from 82 billion USD in 2016 to 87 billion USD in 2018. Renewable energy generation and large-scale interconnection projects are responsible for this rise. In addition, investments in long-distance and large-capacity transmission lines accounted for approximately USD 45 billion of the 2017 transmission budget. The initial costs of installing FACTS are relatively high, hence most industries and utility players are reluctant to implement this technology. The comparatively high initial cost expenditure over its counterparts serves as a constraint in the worldwide dissemination of FACTS. However, the high initial implementation costs are expected to restrict demand growth over the forecast period
The regional analysis of Flexible AC Transmission Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Growth in transmission lines, growing utilization of renewable energy into power grids, Rising demand for STATCOM devices for voltage control. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the market is projected to report the highest CAGE over the forecast period, owing to increased government spending on smart grids building and increased investment in electricity generation through renewable energy resources. Furthermore, investments are planned in high-speed trains from developing countries expected to offer lucrative opportunities for Flexible AC Transmission System market across Asia-Pacific region.
Major market player included in this report are:
Rongxin Power Engineering Ltd (RXPE)
General Electric (GE)
Hyosung Heavy Industries
Ingeteam Power Technology
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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