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

  • ID: 835003
  • Report
  • January 2021
  • Region: Global
  • 451 Pages
  • Global Industry Analysts, Inc
The global market for Flexible AC Transmission (FACT) Systems is projected to reach US$ 1.9 billion by 2024, driven by new approaches to electricity transmission; migration towards bulk power transmission over long distances; growing adoption of renewable energy sources like hydro power which are located far away from consumption centers; stringent climate change regulations and the resulting focus on lossless electricity transmission. A key factor driving the popularity of FACTS as an attractive electricity transmission technology is its ability to meet the demand for reliable supply of power; support environmental sustainability goals and bring about cost and financial benefits. The advantage of FACTS in transmission can be put to perspective by the fact that they can enhance power transfer capability by as much as 50% or even higher. The technology also helps meet increased demand for energy while simultaneously minimizing the need to build more transmission networks. Other major factors also poised to drive growth in the growth include liberalization of the electricity market in several countries across the globe; growing government policy led support for smart grids; and rise in energy trading, among others. Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 7.7 % over the analysis period. The growth in the region is driven by factors such as growing population and parallel increase in electricity demanded; strong focus on energy infrastructure expansion and upgrades; stable growth of heavy industries such as mining, construction, manufacturing, oil & gas and the resulting increase in non-utility energy generation.

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
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 €1.20 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 4.2%, with an estimated value of €1.60 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 €1.60 Billion by 2027.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • EXHIBIT 1: 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
  • EXHIBIT 2: 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
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
  • EXHIBIT 3: Global Investments into Power Transmission & Distribution Infrastructure (in US$ Billion) for 2010, 2015, 2020, 2030 & 2040
  • EXHIBIT 4: 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
  • EXHIBIT 5: Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • EXHIBIT 6: Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • EXHIBIT 7: 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
  • EXHIBIT 8: Global Energy Mix: 1990 Vs 2020 Vs 2030
  • EXHIBIT 9: Global Renewable Energy Breakdown by Type: 2010 Vs 2030
  • EXHIBIT 10: 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
  • EXHIBIT 11: 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
  • EXHIBIT 12: 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

III. MARKET ANALYSIS
  • UNITED STATES
  • Transmission & Distribution Market in the US: An Overview
  • EXHIBIT 13: Electricity Demand (Billion KWh) in the United States: 1980-2040
  • EXHIBIT 14: 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
  • EXHIBIT 15: Net Electricity Generation in the US: Breakdown of Electricity Generation (Billion Kilowatt-hours) by Energy Source (2000, 2010, 2020, 2030 & 2040)
  • EXHIBIT 16: US Utility-Scale Electricity Generation: Percentage Breakdown by Source for 2019
  • EXHIBIT 17: 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
  • Market Analytics
  • CANADA
  • JAPAN
  • CHINA
  • Market Overview
  • Expansion of High-Speed Railway Network: Opportunity for FACTS Deployment
  • Market Analytics
  • EUROPE
  • Market Overview
  • EXHIBIT 18: European FACTS Market Breakdown by Total Capacity (in %) by Company
  • Market Analytics
  • FRANCE
  • GERMANY
  • Grid Infrastructure Development Creates Opportunities for FACTS suppliers
  • Market Analytics
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Market Overview
  • Railway Electrification and High Speed Rail Projects Benefit Market Growth
  • Market Analytics
  • AUSTRALIA
  • INDIA
  • Overview of India’s Power Distribution Sector
  • FACTS Gains Momentum in India
  • Market Analytics
  • 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: 78
Note: Product cover images may vary from those shown
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