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Flexible AC Transmission (FACT) Systems - Global Market Trajectory & Analytics

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    Report

  • 580 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 835003

Global Flexible AC Transmission (FACT) Systems Market to Reach $1.6 Billion by 2027

Amid the COVID-19 crisis, the global market for Flexible AC Transmission (FACT) Systems estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$1.6 Billion by 2027, growing at a CAGR of 5.1% over the period 2020-2027. Shunt, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$1.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Series segment is readjusted to a revised 4.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $223.9 Million, While China is Forecast to Grow at 6.8% CAGR

The Flexible AC Transmission (FACT) Systems market in the U.S. is estimated at US$223.9 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$221.2 Million by the year 2027 trailing a CAGR of 6.8% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$204.6 Million by the year 2027.

Combined Segment to Record 4% CAGR

In the global Combined segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$41.4 Million in the year 2020 will reach a projected size of US$53.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.5% CAGR through the analysis period.

Select Competitors (Total 25 Featured)

  • Hitachi ABB Power Grids Ltd
  • American Superconductor
  • GE Grid Solutions
  • Hyosung Power & Industrial Systems Performance Group
  • LS ELECTRIC Co., Ltd
  • Mitsubishi Electric Corporation
  • Rongxin Power Engineering
  • S&C Electric Company
  • Siemens Energy Global GmbH & Co. KG
  • Sieyuan Electric Co., Ltd.
  • Toshiba Energy Systems & Solutions Corporation

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Flexible AC Transmission (FACT) Systems

What is the estimated value of the Global Market for Flexible AC Transmission (FACT) Systems?

The Global Market for Flexible AC Transmission (FACT) Systems was estimated to be valued at $1.1 Billion in 2020.

What is the growth rate of the Global Market for Flexible AC Transmission (FACT) Systems?

The growth rate of the Global Market for Flexible AC Transmission (FACT) Systems is 5.5%, with an estimated value of $1.6 Billion by 2027.

What is the forecasted size of the Global Market for Flexible AC Transmission (FACT) Systems?

The Global Market for Flexible AC Transmission (FACT) Systems is estimated to be worth $1.6 Billion by 2027.

Who are the key companies in the Global Market for Flexible AC Transmission (FACT) Systems?

Key companies in the Global Market for Flexible AC Transmission (FACT) Systems include Hitachi ABB Power Grids Ltd, American Superconductor, GE Grid Solutions, Hyosung Power & Industrial Systems Performance Group, LS ELECTRIC Co., Ltd, Mitsubishi Electric Corporation, Rongxin Power Engineering, S&C Electric Company and Sieyuan Electric Co., Ltd..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • COVID-19 Impacts Electricity Consumption: Average Annual Growth Rate of Electricity Demand by Select Region/Country for 2001-06, 2006-10, 2011-15 and 2020
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Electric Power Transmission and Distribution (T&D) Equipment: A Prelude
  • Flexible Alternating Current Transmission (FACT) Systems: An Introduction
  • Evolutionary Scan of FACTS Technology
  • Generations of FACTS
  • Types of FACTS Devices
  • Based on Compensation Type
  • Based on Voltage Type
  • Based on Connection Mode
  • Methods to Connect FACTS with Power System
  • Series Compensation
  • Shunt Compensation
  • Major Benefits of FACTS
  • Key Applications of FACTS
  • FACTS Emerges as a Vital Technology for Efficient Bulk Power Transmission
  • Global Market Prospects & Outlook
  • Shunt Controller: The Dominant Compensation Type
  • Voltage Control Applications Lead Global Market
  • Utilities Emerges as the Largest End-Use Market
  • Developing Regions to Spearhead Future Growth
  • Recent Market Activity
  • Flexible AC Transmission (FACT) Systems - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Growing Pressure on Power Transmission Grids and Rising Investments in Power Transmission Infrastructure to Benefit FACTS Market
  • Global Investments into Power Transmission & Distribution Infrastructure (in US$ Billion) for 2010, 2015, 2020, 2030 & 2040
  • Global Investments into Power T&D Infrastructure by Region (in %) for 2020 and 2040
  • Surging Energy Consumption and the Resulting Rise in Power Production, Transmission and Distribution: Foundation for Market Growth
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
  • Growing Focus on Renewable Energy-Based Power Projects Augurs Well for Market
  • Global Energy Mix: 1990 Vs 2020 Vs 2030
  • Global Renewable Energy Breakdown by Type: 2010 Vs 2030
  • Global Energy Production: Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share by Energy Source (2030 & 2040)
  • Trend towards Distributed Power Generation Powers Demand for FACT Devices
  • With Smart Grid Implementations Gaining Traction, Opportunities in Store for the FACTS Market
  • Global Market for Smart Grids (in US$ Billion) for the Years 2020E
  • Aging Power T&D Infrastructure and Need to Replacement & Upgrade of Obsolete Power Systems to Spur Demand for FACT Equipment
  • Imperative Need to Prevent Large-Scale Blackouts & Outages Drives Importance of FACT Equipment
  • As Governments Focus on Development of High-Speed Trains and Bullet Trains, FACTS Market Poised to Grow
  • Global Level of Deployment of High-Speed Rail Lines by Select Leading Countries
  • Growing Importance of Variable Compensation Technologies
  • Shift towards Variable Shunt Compensation Equipment
  • Technology Advancements & Product Developments to Boost Market Prospects
  • Customer Loyalty Building: Imperative for Sustenance
  • Challenges Facing FACT Systems Market
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Flexible AC Transmission (FACT) Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Flexible AC Transmission (FACT) Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for Flexible AC Transmission (FACT) Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Shunt by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Shunt by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Shunt by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Series by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Series by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Series by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Combined by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Combined by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Combined by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Second by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Second by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Second by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for First by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for First by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for First by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Voltage Control by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Voltage Control by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Voltage Control by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Power Control by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Power Control by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Power Control by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Utilities by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 28: World Recent Past, Current & Future Analysis for Renewables by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 29: World Historic Review for Renewables by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 30: World 15-Year Perspective for Renewables by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 31: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 32: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 33: World 15-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 34: World Recent Past, Current & Future Analysis for Railways by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 35: World Historic Review for Railways by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
  • Table 36: World 15-Year Perspective for Railways by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Transmission & Distribution Market in the US: An Overview
  • Electricity Demand (Billion KWh) in the United States: 1980-2040
  • Transmission & Distribution Spending ($ Billion) in the United States: 1990-2009 & 2010-2030P
  • Factors Impacting T&D Market in the US
  • Focus on Renewable Energy Generation to Drive Demand for FACTS Equipment
  • Net Electricity Generation in the US: Breakdown of Electricity Generation (Billion Kilowatt-hours) by Energy Source (2000, 2010, 2020, 2030 & 2040)
  • US Utility-Scale Electricity Generation: Percentage Breakdown by Source for 2019
  • Electric Power T&D Equipment Market in the US by End-use Sector (2019)
  • Shift towards Variable Shunt Compensation Equipment
  • Expanding Smart Grid Infrastructure Boosts Demand Augurs Well for the Market
CANADA
JAPAN
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Expansion of High-Speed Railway Network: Opportunity for FACTS Deployment
EUROPE
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • European FACTS Market Breakdown by Total Capacity (in %) by Company
FRANCE
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Grid Infrastructure Development Creates Opportunities for FACTS suppliers
ITALY
UNITED KINGDOM
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
  • Railway Electrification and High Speed Rail Projects Benefit Market Growth
AUSTRALIA
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Overview of India's Power Distribution Sector
  • FACTS Gains Momentum in India
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Flexible AC Transmission (FACT) Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 25

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Hitachi ABB Power Grids Ltd
  • American Superconductor
  • GE Grid Solutions
  • Hyosung Power & Industrial Systems Performance Group
  • LS ELECTRIC Co., Ltd
  • Mitsubishi Electric Corporation
  • Rongxin Power Engineering
  • S&C Electric Company
  • Siemens Energy Global GmbH & Co. KG
  • Sieyuan Electric Co., Ltd.
  • Toshiba Energy Systems & Solutions Corporation