Flexible AC Transmission Systems (FACTS) Market

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

Report Code: SE 2099 Nov, 2019, by marketsandmarkets.com
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[136 Pages Report] The Flexible AC Transmission Systems market for shunt compensation type is estimated to grow from USD 999 million in 2019 to USD 1,392 million by 2024, at a CAGR of 6.9%.

Flexible AC Transmission Systems (FACTS) Market

By compensation type, shunt compensation to dominate facts market during the 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.

Flexible AC Transmission Systems (FACTS) Market

By second generation, to continue to capture larger market share during forecast period

Second generation devices of Flexible AC Transmission Systems exchange active and reactive power as well as are capable of absorbing or generating these automatically. The devices of this generation have characteristics such as small and compact size, high response speed, and no harmonic errors.

By geography, Asia Pacific (APAC) is expected to grow at highest CAGR during the forecast period

It 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.

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.

Flexible AC Transmission Systems (FACTS) Market

Market Dynamics

Driver: Growing utilization of renewable energy into power grids

The efforts to reduce carbon emissions by using renewable sources such as wind, hydro and solar in power generation are increasing across the world. In developed regions, such as the Americas and Europe, there is an increasing need for enhanced power transfer capability on existing transmission lines to meet the growing demand for electricity. The electricity system needs to be modified to ensure clean, sustainable, and environment-friendly electricity generation. FACTS are being used to integrate renewable energy sources in transmission networks to maintain system stability, power supply quality, and reliability.

Restraint:  High installation cost

The initial cost involved in the installation of Flexible AC Transmission Systems is relatively high because of which most industries and utilities players are reluctant to adopt this technology. The relatively high initial cost investment over its counterparts acts as a restraint in the deployment of FACTS across the world. However, when the cost is evaluated against the anticipated benefits, the financial benefits and return on investment, such as additional yearly sales due to increased power transfer capacity offered by FACTS, outweigh the initial investment cost. The impact of this restraint is currently moderate and is expected to subside in coming years due to compact sizes and decreasing prices of FACTS devices.

Opportunity: Potential opportunities in APAC

To meet the growing demand for electricity generation, APAC countries are investing heavily in alternative energy generation sources, such as wind, solar, and hydro power. China, India, and other South Asian countries have planned extensively to expand the installed renewable capacity. The utilization of renewable resources for energy generation is expected generate ample opportunities for FACTS in the transmission network in this region.

Challenge:  Size and communication limitations in Flexible AC Transmission Systems

FACTS devices offer numerous benefits, such as increased stability, high reliability, high power quality, environmental benefits, and increased flexibility and financial benefits, over their conventional counterparts. However, there are several issues that need to be addressed for the successful deployment of FACTS devices on a large scale. Proper size and setting of FACTS devices play a crucial role in deciding the overall cost of the device as the size of FACTS is directly proportional to the cost and desired performance characteristics of the overall system. All these issues need to be solved in the initial stages of FACTS development; else it would inhibit the development of Flexible AC Transmission Systems.

Scope of the Report

Report Metric

Details

Market size available for years

2016–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

USD million and thousand

Segments covered

Compensation type, functions, components, application, generation type, vertical, and region

Geographies covered

Americas, Europe, APAC, and RoW

Companies covered

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), Rongxin Power Ltd and RXPE (UK)

The research report categorizes the FACTS market to forecast the revenues and analyze the trends in each of the following sub-segments:

Flexible AC Transmission Systems Market, by Compensation Type:

  • Shunt compensation
  • Series compensation
  • Combined compensation

Flexible AC Transmission Systems Market, by Generation Type:

  • First generation
  • Second generation

Functions of FACTS Market:

  • Voltage control
  • Network stabilization
  • Transmission capacity
  • Harmonic suppression

Components of FACTS Market:

  • Power electronics devices
  • Phase shifting transformers
  • Protection and control systems

Flexible AC Transmission Systems, by Application:

  • Voltage control
  • Power control

Flexible AC Transmission Systems Market, by Vertical:

  • Utilities
  • Renewables
  • Industrial
  • Railways

Geographic Analysis:

  • Americas
  • Europe
  • APAC
  • RoW

Key Market Players

ABB (Switzerland), General Electric Company (US), Siemens AG (Germany), Rongxin Power Ltd (UK), Mitsubishi Electric Corporation (Japan), Infineon Technologies AG (Germany), American Superconductor (US), NR Electric Co., Ltd. (China) and Hyosung Heavy Industries (South Korea).

Recent Developments

 In April 2019, AMSC launched four new D-VAR STATCOM systems valued at USD 10 million to serve the renewable energy sector, three in the US, and one in Jordan. These D-VAR systems are expected to provide voltage regulation by dynamically responding to varying load conditions while connecting wind power plants to the electric grid.

In April 2018, ABB announced a collaboration with leading utility and academic partners to develop a technology that would help to integrate renewable energy into transmission grids without jeopardizing grid stability.

In November 2017, Mitsubishi Electric announced the launch of a new integrated Station Energy Saving Inverter (S-EIV) with 400V AC-output for converting surplus regenerative energy from train braking into AC electricity for station facilities. The new 400V AC S-EIV facilitates easy installations and more energy-efficient operations, even at train stations with high-load demands of 400V power distribution circuits. The company also announced that the new S-EIV would be installed at Tokyo Metro Co. Ltd. train stations serving urban Tokyo.

In August 2016, Mitsubishi Electric announced that it would launch SVC-Diamond static synchronous compensator (STATCOM), a voltage source converter (VSC) shunt reactive power compensator with a modular multilevel converter (MMC). The SVC-Diamond helps strengthen the power network when renewable energy resources such as solar and wind are introduced.

Critical questions the report answers:

  • Where will all these developments take the Flexible AC Transmission Systems market in the long term?
  • What are the upcoming trends for the Flexible AC Transmission Systems market?
  • Which segment in FACTS market provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants in the Flexible AC Transmission Systems market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Study Objectives
    1.2 Definition and Scope
           1.2.1 Inclusions and Exclusions
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach Used to Arrive at Market Share By Bottom-Up Analysis (Demand Side)
                    2.2.1.2 Approach for Capturing Company-Specific Information in FACTS Value Chain
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach Used to Arrive at Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insight (Page No. - 34)
    4.1 Attractive Growth Opportunities in FACTS Market
    4.2 FACTS Market, By Application
    4.3 FACTS Market in APAC, By Vertical and Country
    4.4 FACTS Market in Europe, By Compensation Type
    4.5 FACTS Market, By Region

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Benefits Offered By FACTS
                    5.2.1.2 Growth in Transmission Line
                    5.2.1.3 Growing Utilization of Renewable Energy Into Power Grids
                    5.2.1.4 Rising Demand for Statcom Devices for Voltage Control
           5.2.2 Restraints
                    5.2.2.1 High Installation Cost
           5.2.3 Opportunities
                    5.2.3.1 Rising Investments in Transmission Network
                    5.2.3.2 Potential Opportunities in APAC
           5.2.4 Challenges
                    5.2.4.1 Size and Communication Limitations in FACTS
    5.3 Value Chain Analysis

6 Functions of Flexible Ac Transmission System (Page No. - 42)
    6.1 Introduction
    6.2 Voltage Control
           6.2.1 Devices Such as Statcom and SVC are Used for Voltage Control
    6.3 Network Stabilization
           6.3.1 Shunt and Series Compensation are Used for Network Stabilization
    6.4 Transmission Capacity
           6.4.1 Series Compensation is a Cost Effective Way to Increase Transmission Capacity
    6.5 Harmonic Suppression
           6.5.1 SVC and Statcom are Used for Harmonic Suppression

7 Components of Flexible Ac Transmission System (Page No. - 43)
    7.1 Introduction
    7.2 Power Electronic Devices
           7.2.1 Capacitor Banks
                    7.2.1.1 Capacitor Banks are Used to Increase Power Transmission Capability
           7.2.2 Thyristors
                    7.2.2.1 Thyristors are Used to Deliver High Power in FACTS Devices
           7.2.3 Reactors
                    7.2.3.1 Reactors are Used to Limit the Effects of Overvoltage in Transmission Line
    7.3 Phase Shifting Transformers
           7.3.1 Phase Shifting Transformers are Used to Change Effective Phase Displacement Between Input Voltage and Output Voltage of Transmission Line
    7.4 Protection and Control Systems
           7.4.1 Protection and Control Systems are Used to Ensure Proper Network Reliability

8 Flexible Ac Transmission System Market, By Compensation Type (Page No. - 45)
    8.1 Introduction
    8.2 Shunt Compensation
           8.2.1 Static Var Compensation (SVC)
                    8.2.1.1 Need for Line Voltage Control is Likely to Increase the Demand for Static Var Compensation
           8.2.2 Static Compensator (Statcom)
                    8.2.2.1 APAC to Witness Highest Growth for Static Compensator (Statcom)
    8.3 Series Compensation
           8.3.1 Fixed Series Capacitor
                    8.3.1.1 Need for Minimum Voltage Profile to Increase Demand for Fixed Series Capacitor
           8.3.2 Thyristor Series Capacitor
                    8.3.2.1 Need for More Power Transfer Capability Over Existing Transmission Networks Boosting Demand for Thyristor Series Capacitors
    8.4 Combined Compensation
           8.4.1 APAC Was Largest Share Holder for Combined Compensation in 2018

9 Flexible Ac Transmission System Market, By Application (Page No. - 52)
    9.1 Introduction
    9.2 Voltage Control
           9.2.1 Voltage Control Dominated FACTS Market, in Terms of Size, in 2018
    9.3 Power Control
           9.3.1 Europe Held Largest Market for Power Control in 2018

10 Flexible Ac Transmission System Market, By Generation Type (Page No. - 55)
     10.1 Introduction
     10.2 First Generation
             10.2.1 SVC and Series Compensation are First Generation FACTS Devices
     10.3 Second Generation
             10.3.1 Europe Accounted Largest Share for Second Generation FACTS Devices

11 Flexible Ac Transmission System Market, By Vertical (Page No. - 59)
     11.1 Introduction
     11.2 Utilities
             11.2.1 Utilities to Dominate FACTS Market in Coming Years
     11.3 Renewables
             11.3.1 Market for Renewables to Grow at Highest CAGR
     11.4 Industrial
             11.4.1 Need for Power Quality and Stability Boosting Demand for FACTS in Industrial Vertical
     11.5 Railways
             11.5.1 APAC Held Largest Market for Railways in 2018

12 Geographic Analysis (Page No. - 64)
     12.1 Introduction
     12.2 Americas
             12.2.1 North America
                       12.2.1.1 US
                                   12.2.1.1.1 US is Largest Market for FACTS in North America
                       12.2.1.2 Rest of North America
             12.2.2 South America
                       12.2.2.1 Brazil
                                   12.2.2.1.1 Increase in Investment for Expansion of Energy Infrastructure Drives FACTS Markets in Brazil
                       12.2.2.2 Rest of South America
     12.3 Europe
             12.3.1 UK
                       12.3.1.1 UK is the Major Consumer of FACTS in Europe
             12.3.2 Germany
                       12.3.2.1 FACTS Markets in Germany to Grow at Highest CAGR During Forecast Period
             12.3.3 France
                       12.3.3.1 Smart Grid Infrastructure to Drive FACTS Market in France
             12.3.4 Rest of Europe
     12.4 APAC
             12.4.1 China
                       12.4.1.1 China to Hold Largest Share of FACTS Market in APAC During Forecast Period
             12.4.2 India
                       12.4.2.1 Government Support for Expansion of Transmission Network to Drive FACTS Market in India
             12.4.3 South Korea
                       12.4.3.1 Requirement for Constructing New Transmission Lines Drives FACTS Market in South Korea
             12.4.4 Rest of APAC
     12.5 RoW
             12.5.1 Middle East
                       12.5.1.1 Growing Number of Oil & Gas Industries in Middle East to Drive FACTS Market
             12.5.2 Africa
                       12.5.2.1 Africa to Hold Larger Share of FACTS Market in RoW

13 Competitive Landscape (Page No. - 89)
     13.1 Overview
     13.2 Ranking Analysis of Key Players in Flexible Ac Transmission System Market
     13.3 Competitive Situations and Trends
             13.3.1 Product Developments
             13.3.2 Agreements
             13.3.3 Collaboration
             13.3.4 Contracts
             13.3.5 Divestment
             13.3.6 Expansion
             13.3.7 Partnership
             13.3.8 Acquisition
     13.4 Competitive Leadership Mapping, 2018
             13.4.1 Visionary Leaders
             13.4.2 Dynamic Differentiators
             13.4.3 Innovators
             13.4.4 Emerging Companies

14 Company Profile (Page No. - 98)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     14.1 Key Players
             14.1.1 ABB
             14.1.2 Rongxin Power Engineering Ltd (RXPE)
             14.1.3 General Electric (GE)
             14.1.4 Siemens
             14.1.5 Mitsubishi Electric
             14.1.6 American Superconductor
             14.1.7 Infineon
             14.1.8 NR Electric
             14.1.9 Hyosung Heavy Industries
               14.1.10 Ingeteam Power Technology
     14.2 Right to Win
     14.3 Other Important Players
             14.3.1 Bharat Heavy Electricals Limited (BHEL)
             14.3.2 Quanta Technology
             14.3.3 Comsys
             14.3.4 Merus Power Dynamics Oy
             14.3.5 Sieyuan Electric Co., Ltd.
             14.3.6 Signatory Pvt. Ltd.
             14.3.7 Jema Energy Sa
             14.3.8 Freqcon GmbH
             14.3.9 Clariant Power System Limited
             14.3.10 Beijing Power Equipment Group Co Ltd(BPEG)

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 129)
     15.1 Insights From Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details


List of Tables (105 Tables)

Table 1 Flexible AC Transmission Systems Market, By Compensation Type, 2016–2024 (USD Million)
Table 2 FACTS Market, By Shunt Compensation Type, 2016–2024 (USD Million)
Table 3 Market for Shunt Compensation, By Region, 2016–2024 (USD Million)
Table 4 Market for Shunt Compensation in Americas, By Region, 2016–2024 (USD Million)
Table 5 Market for SVC Shunt Compensation, By Region, 2016–2024 (USD Thousand)
Table 6 Market for SVC Shunt Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 7 Market for Statcom Shunt Compensation, By Region, 2016–2024 (USD Million)
Table 8 Market for Statcom Shunt Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 9 Market for Series Compensation, By Region, 2016–2024 (USD Thousand)
Table 10 Market for Series Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 11 Market for Combined Compensation, By Region, 2016–2024 (USD Thousand)
Table 12 Market for Combined Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 13 FACTS Market, By Application, 2016–2024 (USD Million)
Table 14 Market for Voltage Control, By Region, 2016–2024 (USD Million)
Table 15 Market for Voltage Control in Americas, By Region, 2016–2024 (USD Million)
Table 16 Market for Power Control, By Region, 2016–2024 (USD Thousand)
Table 17 Market for Power Control in Americas, By Region, 2016–2024 (USD Million)
Table 18 Flexible AC Transmission Systems Market, By Generation Type, 2016–2024 (USD Million)
Table 19 Market for First Generation Type, By Region, 2016–2024 (USD Million)
Table 20 Market for First Generation Type in Americas, By Region, 2016–2024 (USD Million)
Table 21 Market for Second Generation Type, By Region, 2016–2024 (USD Million)
Table 22 Market for Second Generation Type in Americas, By Region, 2016–2024 (USD Million)
Table 23 FACTS Market, By Vertical, 2016–2024 (USD Million)
Table 24 Market for Utilities, By Region, 2016–2024 (USD Million)
Table 25 Market for Utilities in Americas, By Region, 2016–2024 (USD Million)
Table 26 Market for Renewables, By Region, 2016–2024 (USD Thousand)
Table 27 Market for Renewables in Americas, By Region, 2016–2024 (USD Million)
Table 28 Market for Industrial, By Region, 2016–2024 (USD Thousand)
Table 29 Market for Industrial in Americas, By Region, 2016–2024 (USD Million)
Table 30 Market for Railways, By Region, 2016–2024 (USD Thousand)
Table 31 Market for Railways in Americas, By Region, 2016–2024 (USD Thousand)
Table 32 FACTS Market, By Region, 2016–2024 (USD Million)
Table 33 Market in Americas, By Region, 2016–2024 (USD Million)
Table 34 Market in Americas, By Compensation Type, 2016–2024 (USD Thousand)
Table 35 Market in Americas, By Shunt Compensation, 2016–2024 (USD Million)
Table 36 Market in Americas, By Generation Type, 2016–2024 (USD Million)
Table 37 Market in Americas, By Vertical, 2016–2024 (USD Thousand)
Table 38 Market in Americas, By Application, 2016–2024 (USD Million)
Table 39 Market in North America, By Country, 2016–2024 (USD Million)
Table 40 Market in North America, By Compensation Type, 2016–2024 (USD Thousand)
Table 41 Market in North America, By Shunt Compensation, 2016–2024 (USD Million)
Table 42 Market in North America, By Generation Type, 2016–2024 (USD Million)
Table 43 Market in North America, By Vertical, 2016–2024 (USD Thousand)
Table 44 Market in North America, By Application, 2016–2024 (USD Million)
Table 45 Market in US, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 46 Market in US, By Application, 2016–2024 (USD Thousand)
Table 47 Market in Rest of North America, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 48 Market in Rest of North America, By Application, 2016–2024 (USD Thousand)
Table 49 Market in South America, By Country, 2016–2024 (USD Million)
Table 50 Market in South America, By Compensation Type, 2016–2024 (USD Thousand)
Table 51 Market in South America, By Shunt Compensation, 2016–2024 (USD Million)
Table 52 Market in South America, By Generation Type, 2016–2024 (USD Million)
Table 53 Market in South America, By Vertical, 2016–2024 (USD Thousand)
Table 54 Market in South America, By Application, 2016–2024 (USD Million)
Table 55 Market in Brazil, By Shunt Compensation, 2016–2024 (USD Million)
Table 56 Market in Brazil, By Application, 2016–2024 (USD Million)
Table 57 Market in Rest of South America, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 58 Market in Rest of South America, By Application, 2016–2024 (USD Thousand)
Table 59 Market in Europe, By Region, 2016–2024 (USD Million)
Table 60 Market in Europe, By Compensation Type, 2016–2024 (USD Thousand)
Table 61 Market in Europe, By Shunt Compensation, 2016–2024 (USD Million)
Table 62 Market in Europe, By Generation Type, 2016–2024 (USD Million)
Table 63 Market in Europe, By Vertical, 2016–2024 (USD Thousand)
Table 64 Market in Europe, By Application, 2016–2024 (USD Million)
Table 65 Market in UK, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 66 Market in UK, By Application, 2016–2024 (USD Thousand)
Table 67 Market in Germany, By Shunt Compensation, 2016–2024 (USD Million)
Table 68 Market in Germany, By Application, 2016–2024 (USD Million)
Table 69 Market in France, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 70 Market in France, By Application, 2016–2024 (USD Thousand)
Table 71 Market in Rest of Europe, By Shunt Compensation, 2016–2024 (USD Million)
Table 72 Market in Rest of Europe, By Application, 2016–2024 (USD Million)
Table 73 Market in APAC, By Country, 2016–2024 (USD Million)
Table 74 Market in APAC, By Compensation Type, 2016–2024 (USD Million)
Table 75 Market in APAC, By Shunt Compensation, 2016–2024 (USD Million)
Table 76 Market in APAC, By Generation Type, 2016–2024 (USD Million)
Table 77 Market in APAC, By Vertical, 2016–2024 (USD Million)
Table 78 Market in APAC, By Application, 2016–2024 (USD Million)
Table 79 Market in China, By Shunt Compensation, 2016–2024 (USD Million)
Table 80 Market in China, By Application, 2016–2024 (USD Million)
Table 81 Market in India, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 82 Market in India, By Application, 2016–2024 (USD Thousand)
Table 83 Market in South Korea, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 84 Market in South Korea, By Application, 2016–2024 (USD Thousand)
Table 85 Market in Rest of APAC, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 86 Market in Rest of APAC, By Application, 2016–2024 (USD Million)
Table 87 Market in RoW, By Region, 2016–2024 (USD Million)
Table 88 Market in RoW, By Compensation Type, 2016–2024 (USD Thousand)
Table 89 Market in RoW, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 90 Market in RoW, By Generation Type, 2016–2024 (USD Million)
Table 91 Market in RoW, By Vertical, 2016–2024 (USD Thousand)
Table 92 Market in RoW, By Application, 2016–2024 (USD Thousand)
Table 93 Market in Middle East, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 94 Market in Middle East, By Application, 2016–2024 (USD Thousand)
Table 95 Market in Africa, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 96 Flexible AC Transmission Systems Market in Africa, By Application, 2016–2024 (USD Thousand)
Table 97 Flexible Ac Transmission System Market: Ranking of Key Companies
Table 98 Product Developments, 2016–2019
Table 99 Agreements, 2018–2019
Table 100 Collaboration, 2018–2019
Table 101 Contracts, 2016–2019
Table 102 Divestment, 2018–2019
Table 103 Expansion, 2018–2019
Table 104 Partnership, 2018–2019
Table 105 Acquisition, 2018–2019
 
 
List of Figures (33 Figures)
 
Figure 1 Market Segmentation
Figure 2 Flexible AC Transmission Systems Market: Research Design
Figure 3 Market Size Estimation Methodology: Approach 1 (Supply Side): Revenue of Market Players
Figure 4 Market Size Estimation Methodology: Approach 2 (Demand Size) – Bottom Up Market Estimation for FACTS, By Compensation Type
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 Shunt Compensation to Dominate FACTS Market, By Compensation Type, From 2019 to 2024
Figure 9 Statcom to Dominate FACTS Market, By Shunt Compensation, During Forecast Period
Figure 10 Second Generation to Continue to Capture Larger Market Share During Forecast Period
Figure 11 Utilities Vertical Held Largest Market Share in 2019
Figure 12 Europe Accounted for Largest Share of FACTS Market in 2018
Figure 13 Increasing Demand for Power and Voltage Control Solutions Drives FACTS Market
Figure 14 Voltage Control to Dominate FACTS Market During Forecast Period
Figure 15 Utilities and China to Account for Largest Shares of FACTS Market in APAC By 2024
Figure 16 Shunt Compensation to Witness Highest CAGR of European FACTS Market From 2019 to 2024
Figure 17 APAC to Witness Highest CAGR in FACTS Market During Forecast Period
Figure 18 FACTS Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Impact Analysis: Drivers
Figure 20 Transmission Investment – USD Billion (2016–2018)
Figure 21 Value Chain Analysis: FACTS Market
Figure 22 Flexible AC Transmission Systems Market in India to Grow at Highest CAGR During Forecast Period
Figure 23 Americas: Snapshot of FACTS Market
Figure 24 Europe: Snapshot of FACTS Market
Figure 25 APAC: Snapshot of FACTS Market
Figure 26 Product Developments Key Growth Strategy From 2016 to 2019
Figure 27 Flexible Ac Transmission System Market (Global) Competitive Leadership Mapping, 2018
Figure 28 ABB: Company Snapshot
Figure 29 General Electric: Company Snapshot
Figure 30 Siemens: Company Snapshot
Figure 31 Mitsubishi Electric: Company Snapshot
Figure 32 American Superconductor: Company Snapshot
Figure 33 Infineon: Company Snapshot

The study involved 4 major activities in estimating the current size of the FACTS market. Exhaustive secondary research was done to collect information on the market, the peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, FACTS-related journals, IEST publications; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research has been conducted after understanding and analyzing the FACTS market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 regions: the Americas, Europe, APAC, and RoW. RoW comprises the Middle East and Africa. Approximately 25% of the primary interviews have been conducted with the demand side and 75% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.

Flexible AC Transmission Systems (FACTS) Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were implemented to estimate and validate the total size of the FACTS market. These methods were also used extensively to estimate the size of the markets based on various subsegments. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides across different end-use applications.

Study Objectives

  • To describe and forecast the flexible AC transmission system (FACTS) market, in terms of value, by compensation type, application, generation type, and vertical
  • To describe and forecast the market size by regions—Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To describe the components and functions of flexible AC transmission systems
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contributions to the overall market
  • To analyze opportunities in the market for stakeholders and provide a detailed competitive landscape of the market
  • To strategically profile key players in the market and comprehensively analyze their market ranking and core competencies
  • To analyze competitive developments such as contracts, product launches/developments, expansions, and research and development (R&D) activities carried out by players in the FACTS market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to a company's specific needs. The following customization options are available for this report:

Regional Analysis

  • Country-wise breakdown for America, Europe, APAC, and RoW

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 2099
Published ON
Nov, 2019
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