According to a new market research report “Flexible AC Transmission Systems (FACTS) Market by Compensation Type (Shunt, Series & Combined), Component, Application, Verticals (Electric Utilities, Renewables, Railways, Industrial, And Oil & Gas), and by Geography – Global Forecast to 2020”, The global flexible AC transmission systems (FACTS) market is valued at USD 988.5 million in 2015 and is expected to reach USD 1.26 Billion by 2020, at a CAGR of 5.10% between 2015 and 2020.
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The flexible AC transmission systems (FACTS) market is expected to exhibit moderate growth in the next five years. There is a growing adoption of flexible AC transmission systems (FACTS) in applications such as electric utilities, renewables, railways, industrial, and oil & gas.
This report provides a detailed analysis of the overall flexible AC transmission systems (FACTS) market and segments the same on the basis of compensation type, components, application, verticals, and geography. The market segmented on the basis of compensation type includes shunt, series, and combined shunt, and series compensation. The shunt compensation is expected to hold the major market share among all compensation type, while series compensation is expected to grow at the highest CAGR of 7.56% during the forecast period between 2015 and 2020.
The objective of the research study was to analyze the market trends for each of the industries, growth rates of the various industry (electric utilities, renewables, railways, industrial, and oil & gas), and the demand for different compensation type of flexible AC transmission systems (FACTS) market.
The size of the flexible AC transmission systems (FACTS) market is given on the basis of the four geographical regions, namely, Americas, Europe, Asia-Pacific, and the Rest of the World (RoW). The region of Americas is estimated to hold the major share; however, it is expected to grow at the second-highest CAGR of 5.1% in the overall flexible AC transmission systems (FACTS) market during the forecast period.
Apart from the market segmentation, the report also covers the Porter’s analysis, the market’s value chain with a detailed process flow diagram, and the market dynamics such as drivers, restraints, and opportunities in the overall flexible AC transmission systems (FACTS) market.
This report profiles the major companies involved in the flexible AC transmission systems (FACTS) market, such as ABB Ltd. (Switzerland), Siemens AG (Germany), Mitsubishi Electric Corp. (Japan), General Electric (U.S.), Eaton Corp PLC (Ireland), Alstom (France), American Electric Power (U.S.), Hyosung (South Korea), NR Electric Co. Ltd. (China) and, Adani Power (India) among others.