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

  • ID: 835003
  • Report
  • July 2020
  • Region: Global
  • 440 Pages
  • Global Industry Analysts, Inc
1 of 3

FEATURED COMPANIES

  • ABB Ltd. (Switzerland)
  • GE Grid Solutions (USA)
  • Siemens AG (Germany)
  • MORE
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$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.6 Billion by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027. Shunt Compensation, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$692.2 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Series Compensation segment is readjusted to a revised 4.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $328.7 Million, While China is Forecast to Grow at 7.8% CAGR

The Flexible AC Transmission (FACT) Systems market in the U.S. is estimated at US$328.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$360 Million by the year 2027 trailing a CAGR of 7.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.4% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Combined Compensation Segment to Record 3.6% CAGR

In the global Combined Compensation segment, USA, Canada, Japan, China and Europe will drive the 3.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$245.4 Million in the year 2020 will reach a projected size of US$304 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$235.6 Million by the year 2027, while Latin America will expand at a 4.5% CAGR through the analysis period. We bring years of research experience to this 16th edition of our report. The 440-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • ABB Ltd.
  • American Superconductor
  • GE Grid Solutions
  • Hyosung Power & Industrial Systems Performance Group
  • Mitsubishi Electric Corp.
  • Rongxin Power Engineering
  • S&C Electric Company
  • Siemens AG
  • Sieyuan Electric Co., Ltd.
  • Toshiba Energy Systems & Solutions Corporation

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB Ltd. (Switzerland)
  • GE Grid Solutions (USA)
  • Siemens AG (Germany)
  • MORE

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Impact of Covid-19 and a Looming Global Recession

Recent Market Activity

Transmission & Distribution Networks - A Rudimentary Overview

Power Companies Embracing New Technologies

FACTS - Critical for Efficient Bulk Power Transmission

Investments in Power Transmission Infrastructure Benefits FACTS Market

Improving Economy Buoys General Market Optimism

Impact of Global Recession in Retrospect

Outlook

Global Competitor Market Shares

Flexible AC Transmission (FACT) Systems Competitor Market Share Scenario Worldwide (in %): 2018 & 2029

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Spiraling Electricity Consumption & Subsequent Need for Increasing Electricity Generation & Transmission Creates Demand for FACTS

Opportunity Indicators

Continued Investments in Traditional Fossil Fuel Based Power Projects to Drive Demand for FACTS

Nuclear Power Continues to Find Attention - To Boost Market Prospects

Opportunity Indicators

Growing Focus on Renewable Energy Based Power Projects Augurs Well for Market

Opportunity Indicators

Soaring Popularity of Distributed Power Generation Approach Powers Growth for FACT Devices

Widespread Smart Grid Implementation Turbo Charges Growth in FACTS Market

Energy Sector Deregulation & Implications for FACTS Market - A Review

Developing Markets to Lend Traction to Market Growth

Rural Electrification to Lend Traction in Developing Markets

Replacement & Up-gradation of Obsolete Power Systems to Spur Demand for Flexible AC Transmission Equipment

Increasing Awareness Boosts FACT Equipment Growth

Non-Utility End- User Markets to also Lend Traction to Switchgears Market

Fixed Vs. Variable Compensation Equipment: Price Trends

Growing Importance of Variable Compensation Technologies

Shift towards Variable Shunt Compensation Equipment

Cost Breakdown for FACTS

Technology Advancements & Product Developments to Boost Market Prospects

Customer Loyalty Building: Imperative for Sustenance

Key Market Share Finding

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Flexible AC Transmission (FACT) Systems Market Share (in %) by Company: 2018 & 2025

Market Analytics

CANADA

JAPAN

CHINA

EUROPE

Market Facts & Figures

European Flexible AC Transmission (FACT) Systems Market: Competitor Market Share Scenario (in %) for 2018 & 2025

Market Analytics

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION

Total Companies Profiled: 14

Note: Product cover images may vary from those shown
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  • ABB Ltd. (Switzerland)
  • American Superconductor (USA)
  • GE Grid Solutions (USA)
  • Hyosung Power & Industrial Systems Performance Group (South Korea)
  • Mitsubishi Electric Corporation (Japan)
  • Rongxin Power Engineering (UK)
  • S&C Electric Company (USA)
  • Siemens AG (Germany)
  • Sieyuan Electric Co., Ltd. (China)
  • Toshiba Energy Systems & Solutions Corporation (Japan)
Note: Product cover images may vary from those shown
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