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Flexible AC Transmission Systems (FACTS) Market by Compensation Type (Shunt, Series, and Combined), Generation Type (First Generation and Second Generation), Vertical, Component, Application, Functionality, Geography - Global Forecast to 2024

Flexible AC Transmission Systems (FACTS) Market by Compensation Type (Shunt, Series, and Combined), Generation Type (First Generation and Second Generation), Vertical, Component, Application, Functionality, Geography - Global Forecast to 2024

“FACTS market to grow at CAGR of 6.0% from 2019 to 2024”
The global flexible AC transmission systems (FACTS) market size is projected to reach USD 1.7 billion by 2024 from USD 1.2 billion in 2019, at a CAGR of 6.0%. Major drivers for the market’s growth are increasing benefits offered by FACTS, growth in transmission line, rising focus on energy generation using renewable sources, and surging demand for STATCOM devices for voltage control. Further, rising investment in transmission networks and potential opportunities in APAC are the opportunities for FACTS manufacturers. The major restraint for the market is high installation costs. Size and communication limitations in FACTS pose a major challenge to this market.

Shunt compensation type to hold largest share of FACTS market during forecast period
In shunt compensation, FACTS are connected in parallel with the power system transmission line. Shunt compensation is actively used in power transmission and distribution networks to reduce power losses and voltage drops. Moreover, shunt compensation is used for various applications such as voltage stabilization, dynamic reactive power control, increased transmission capacity, power oscillation damping, higher transient stability, system voltage balance maintenance, reduced transmission losses, and voltage control. Low installation cost, when compared with other systems, and improved efficiency along with higher ratings across distribution circuits are a few factors that are expected to increase the demand for shunt systems.

Among all vertical, utilities to hold largest share of FACTS market from 2019 to 2024
FACTS is used in electric utilities for the generation, transmission, and distribution of electricity. The applications of FACTS in electrical utilities include voltage control, network stabilization, power oscillation damping, and power flow control, as well as help in increasing the transmission capacity. FACTS devices also provide an economical and efficient solution to ease the pressure on existing transmission lines and save high investment costs required for building new network extensions. This is expected to increase the demand for FACTS in utilities. Companies such as ABB, GE, and Siemens provide FACTS devices for the electric utilities market because of growing demands for the generation of electricity.

APAC to hold largest share of FACTS market during forecast period
APAC is the fastest-developing region for most verticals, such as utilities, railways, and industrial. The market in APAC is segmented into China, India, South Korea, and the Rest of APAC. The region has emerged as a global focal point for large investments and business expansion opportunities. The region represents the fastest-growing market worldwide, and the market in this region is expected to grow at the highest CAGR during the forecast period. Growing transmission investment in APAC countries results in the increasing number of substations and transmission lines, which propelled the demand for voltage stability and power flow control solution increased. Moreover, APAC is home to a few key FACTS manufacturers—such as Rongxin, which installed more than 800 STATCOM, and Hyosung. These factors are expected to drive the market for FACTS in this region during the forecast period.

Breakdown of primary participants’ profile:
By Company Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
By Designation: C-Level Executives = 35%, Directors = 30%, and Others = 35%
By Region: Americas = 40%, Europe = 25%, APAC = 20%, and RoW = 15%

ABB (ABB, Switzerland), General Electric Company (GE, US), Siemens AG (Siemens, Germany), Mitsubishi Electric Corporation (Mitsubishi Electric, Japan), Infineon Technologies AG (Infineon, Germany), American Superconductor (AMSC, US), NR Electric Co., Ltd. (NR Electric, China), Hyosung Heavy Industries (Hyosung, South Korea), and Rongxin Power Ltd. (RXPE, UK) are a few major players in the FACTS market.

Research Coverage:
Compensation type, functions, components, generation type, application, vertical, and geography are the segments covered in this report. The report gives a detailed view of the market across 4 main regions: Americas, Europe, APAC, and RoW.

Reasons to Buy the Report:
This report includes statistics pertaining to the FACTS market in terms of compensation type, functions, components, generation type, application, vertical and geography, along with their respective market sizes.
Major drivers, restraints, opportunities, and challenges for the FACTS market have been provided in detail in this report.
The report includes illustrative segmentation, analysis, and forecast for the FACTS market based on its segments and subsegments.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • DEFINITION AND SCOPE
      • INCLUSIONS AND EXCLUSIONS
    • STUDY SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED
    • CURRENCY
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHT
    • ATTRACTIVE GROWTH OPPORTUNITIES IN FACTS MARKET
    • FACTS MARKET, BY APPLICATION
    • FACTS MARKET IN APAC, BY VERTICAL AND COUNTRY
    • FACTS MARKET IN EUROPE, BY COMPENSATION TYPE
    • FACTS MARKET, BY REGION
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • VALUE CHAIN ANALYSIS
  • FUNCTIONS OF FLEXIBLE AC TRANSMISSION SYSTEM
    • INTRODUCTION
    • VOLTAGE CONTROL
      • DEVICES SUCH AS STATCOM AND SVC ARE USED FOR VOLTAGE CONTROL
    • NETWORK STABILIZATION
      • SHUNT AND SERIES COMPENSATION ARE USED FOR NETWORK STABILIZATION
    • TRANSMISSION CAPACITY
      • SERIES COMPENSATION IS A COST EFFECTIVE WAY TO INCREASE TRANSMISSION CAPACITY
    • HARMONIC SUPPRESSION
      • SVC AND STATCOM ARE USED FOR HARMONIC SUPPRESSION
  • COMPONENTS OF FLEXIBLE AC TRANSMISSION SYSTEM
    • INTRODUCTION
    • POWER ELECTRONIC DEVICES
      • CAPACITOR BANKS
      • THYRISTORS
      • REACTORS
    • PHASE SHIFTING TRANSFORMERS
      • PHASE SHIFTING TRANSFORMERS ARE USED TO CHANGE EFFECTIVE PHASE DISPLACEMENT BETWEEN INPUT VOLTAGE AND OUTPUT VOLTAGE OF TRANSMISSION LINE
    • PROTECTION AND CONTROL SYSTEMS
      • PROTECTION AND CONTROL SYSTEMS ARE USED TO ENSURE PROPER NETWORK RELIABILITY
  • FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE
    • INTRODUCTION
      • Table FACTS MARKET, BY COMPENSATION TYPE, 2016-2024 (USD MILLION)
      • Table FACTS MARKET, BY SHUNT COMPENSATION TYPE, 2016-2024 (USD MILLION)
    • SHUNT COMPENSATION
      • Table FACTS MARKET FOR SHUNT COMPENSATION, BY REGION, 2016-2024 (USD MILLION)
      • Table FACTS MARKET FOR SHUNT COMPENSATION IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
      • STATIC VAR COMPENSATION (SVC)
        • Table FACTS MARKET FOR SVC SHUNT COMPENSATION, BY REGION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET FOR SVC SHUNT COMPENSATION IN AMERICAS, BY REGION, 2016-2024 (USD THOUSAND)
      • STATIC COMPENSATOR (STATCOM)
        • Table FACTS MARKET FOR STATCOM SHUNT COMPENSATION, BY REGION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET FOR STATCOM SHUNT COMPENSATION IN AMERICAS, BY REGION, 2016-2024 (USD THOUSAND)
    • SERIES COMPENSATION
      • Table FACTS MARKET FOR SERIES COMPENSATION, BY REGION, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET FOR SERIES COMPENSATION IN AMERICAS, BY REGION, 2016-2024 (USD THOUSAND)
      • FIXED SERIES CAPACITOR
      • THYRISTOR SERIES CAPACITOR
    • COMBINED COMPENSATION
      • APAC WAS LARGEST SHARE HOLDER FOR COMBINED COMPENSATION IN 2018
        • Table FACTS MARKET FOR COMBINED COMPENSATION, BY REGION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET FOR COMBINED COMPENSATION IN AMERICAS, BY REGION, 2016-2024 (USD THOUSAND)
  • FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY APPLICATION
    • INTRODUCTION
      • Table FACTS MARKET, BY APPLICATION, 2016-2024 (USD MILLION)
    • VOLTAGE CONTROL
      • VOLTAGE CONTROL DOMINATED FACTS MARKET, IN TERMS OF SIZE, IN 2018
        • Table FACTS MARKET FOR VOLTAGE CONTROL, BY REGION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET FOR VOLTAGE CONTROL IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
    • POWER CONTROL
      • EUROPE HELD LARGEST MARKET FOR POWER CONTROL IN 2018
        • Table FACTS MARKET FOR POWER CONTROL, BY REGION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET FOR POWER CONTROL IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
  • FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GENERATION TYPE
    • INTRODUCTION
      • Table FACTS MARKET, BY GENERATION TYPE, 2016-2024 (USD MILLION)
    • FIRST GENERATION
      • SVC AND SERIES COMPENSATION ARE FIRST GENERATION FACTS DEVICES
        • Table FACTS MARKET FOR FIRST GENERATION TYPE, BY REGION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET FOR FIRST GENERATION TYPE IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
    • SECOND GENERATION
      • EUROPE ACCOUNTED LARGEST SHARE FOR SECOND GENERATION FACTS DEVICES
        • Table FACTS MARKET FOR SECOND GENERATION TYPE, BY REGION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET FOR SECOND GENERATION TYPE IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
  • FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY VERTICAL
    • INTRODUCTION
      • Table FACTS MARKET, BY VERTICAL, 2016-2024 (USD MILLION)
    • UTILITIES
      • UTILITIES TO DOMINATE FACTS MARKET IN COMING YEARS
        • Table FACTS MARKET FOR UTILITIES, BY REGION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET FOR UTILITIES IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
    • RENEWABLES
      • MARKET FOR RENEWABLES TO GROW AT HIGHEST CAGR
        • Table FACTS MARKET FOR RENEWABLES, BY REGION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET FOR RENEWABLES IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
    • INDUSTRIAL
      • NEED FOR POWER QUALITY AND STABILITY BOOSTING DEMAND FOR FACTS IN INDUSTRIAL VERTICAL
        • Table FACTS MARKET FOR INDUSTRIAL, BY REGION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET FOR INDUSTRIAL IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
    • RAILWAYS
      • APAC HELD LARGEST MARKET FOR RAILWAYS IN 2018
        • Table FACTS MARKET FOR RAILWAYS, BY REGION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET FOR RAILWAYS IN AMERICAS, BY REGION, 2016-2024 (USD THOUSAND)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table FACTS MARKET, BY REGION, 2016-2024 (USD MILLION)
    • AMERICAS
      • Table FACTS MARKET IN AMERICAS, BY REGION, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN AMERICAS, BY COMPENSATION TYPE, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET IN AMERICAS, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN AMERICAS, BY GENERATION TYPE, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN AMERICAS, BY VERTICAL, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET IN AMERICAS, BY APPLICATION, 2016-2024 (USD MILLION)
      • NORTH AMERICA
        • Table FACTS MARKET IN NORTH AMERICA, BY COUNTRY, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN NORTH AMERICA, BY COMPENSATION TYPE, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN NORTH AMERICA, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN NORTH AMERICA, BY GENERATION TYPE, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN NORTH AMERICA, BY VERTICAL, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN NORTH AMERICA, BY APPLICATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN US, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN US, BY APPLICATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN REST OF NORTH AMERICA, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN REST OF NORTH AMERICA, BY APPLICATION, 2016-2024 (USD THOUSAND)
      • SOUTH AMERICA
        • Table FACTS MARKET IN SOUTH AMERICA, BY COUNTRY, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN SOUTH AMERICA, BY COMPENSATION TYPE, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN SOUTH AMERICA, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN SOUTH AMERICA, BY GENERATION TYPE, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN SOUTH AMERICA, BY VERTICAL, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN SOUTH AMERICA, BY APPLICATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN BRAZIL, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN BRAZIL, BY APPLICATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN REST OF SOUTH AMERICA, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN REST OF SOUTH AMERICA, BY APPLICATION, 2016-2024 (USD THOUSAND)
    • EUROPE
      • Table FACTS MARKET IN EUROPE, BY REGION, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN EUROPE, BY COMPENSATION TYPE, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET IN EUROPE, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN EUROPE, BY GENERATION TYPE, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN EUROPE, BY VERTICAL, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET IN EUROPE, BY APPLICATION, 2016-2024 (USD MILLION)
      • UK
        • Table FACTS MARKET IN UK, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN UK, BY APPLICATION, 2016-2024 (USD THOUSAND)
      • GERMANY
        • Table FACTS MARKET IN GERMANY, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN GERMANY, BY APPLICATION, 2016-2024 (USD MILLION)
      • FRANCE
        • Table FACTS MARKET IN FRANCE, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN FRANCE, BY APPLICATION, 2016-2024 (USD THOUSAND)
      • REST OF EUROPE
        • Table FACTS MARKET IN REST OF EUROPE, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN REST OF EUROPE, BY APPLICATION, 2016-2024 (USD MILLION)
    • APAC
      • Table FACTS MARKET IN APAC, BY COUNTRY, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN APAC, BY COMPENSATION TYPE, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN APAC, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN APAC, BY GENERATION TYPE, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN APAC, BY VERTICAL, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN APAC, BY APPLICATION, 2016-2024 (USD MILLION)
      • CHINA
        • Table FACTS MARKET IN CHINA, BY SHUNT COMPENSATION, 2016-2024 (USD MILLION)
        • Table FACTS MARKET IN CHINA, BY APPLICATION, 2016-2024 (USD MILLION)
      • INDIA
        • Table FACTS MARKET IN INDIA, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN INDIA, BY APPLICATION, 2016-2024 (USD THOUSAND)
      • SOUTH KOREA
        • Table FACTS MARKET IN SOUTH KOREA, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN SOUTH KOREA, BY APPLICATION, 2016-2024 (USD THOUSAND)
      • REST OF APAC
        • Table FACTS MARKET IN REST OF APAC, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN REST OF APAC, BY APPLICATION, 2016-2024 (USD MILLION)
    • ROW
      • Table FACTS MARKET IN ROW, BY REGION, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN ROW, BY COMPENSATION TYPE, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET IN ROW, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET IN ROW, BY GENERATION TYPE, 2016-2024 (USD MILLION)
      • Table FACTS MARKET IN ROW, BY VERTICAL, 2016-2024 (USD THOUSAND)
      • Table FACTS MARKET IN ROW, BY APPLICATION, 2016-2024 (USD THOUSAND)
      • MIDDLE EAST
        • Table FACTS MARKET IN MIDDLE EAST, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN MIDDLE EAST, BY APPLICATION, 2016-2024 (USD THOUSAND)
      • AFRICA
        • Table FACTS MARKET IN AFRICA, BY SHUNT COMPENSATION, 2016-2024 (USD THOUSAND)
        • Table FACTS MARKET IN AFRICA, BY APPLICATION, 2016-2024 (USD THOUSAND)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • RANKING ANALYSIS OF KEY PLAYERS IN FLEXIBLE AC TRANSMISSION SYSTEM MARKET
      • Table FLEXIBLE AC TRANSMISSION SYSTEM MARKET: RANKING OF KEY COMPANIES
    • COMPETITIVE SITUATIONS AND TRENDS
      • PRODUCT DEVELOPMENTS
        • Table PRODUCT DEVELOPMENTS, 2016-2019
      • AGREEMENTS
        • Table AGREEMENTS, 2018-2019
      • COLLABORATION
        • Table COLLABORATION, 2018-2019
      • CONTRACTS
        • Table CONTRACTS, 2016-2019
      • DIVESTMENT
        • Table DIVESTMENT, 2018-2019
      • EXPANSION
        • Table EXPANSION, 2018-2019
      • PARTNERSHIP
        • Table PARTNERSHIP, 2018-2019
      • ACQUISITION
        • Table ACQUISITION, 2018-2019
    • COMPETITIVE LEADERSHIP MAPPING, 2018
      • VISIONARY LEADERS
      • DYNAMIC DIFFERENTIATORS
      • INNOVATORS
      • EMERGING COMPANIES
  • COMPANY PROFILE
    • KEY PLAYERS
      • ABB
      • RONGXIN POWER ENGINEERING LTD (RXPE)
      • GENERAL ELECTRIC (GE)
      • SIEMENS
      • MITSUBISHI ELECTRIC
      • AMERICAN SUPERCONDUCTOR
      • INFINEON
      • NR ELECTRIC
      • HYOSUNG HEAVY INDUSTRIES
      • INGETEAM POWER TECHNOLOGY
    • RIGHT TO WIN
    • OTHER IMPORTANT PLAYERS
      • BHARAT HEAVY ELECTRICALS LIMITED (BHEL)
      • QUANTA TECHNOLOGY
      • COMSYS
      • MERUS POWER DYNAMICS OY
      • SIEYUAN ELECTRIC CO., LTD.
      • SIGNATORY PVT. LTD.
      • JEMA ENERGY SA
      • FREQCON GMBH
      • CLARIANT POWER SYSTEM LIMITED
      • BEIJING POWER EQUIPMENT GROUP CO LTD(BPEG)
  • APPENDIX
    • INSIGHTS FROM INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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