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

[136 Pages Report] The flexible AC transmission systems (FACTS) market size is projected to increase from USD 1.2 billion in 2019 to reach USD 1.7 billion by 2024, at a CAGR of 6.0%. Major drivers for the market’s growth are increasing benefits offered by FACTS, growing transmission line, rising focus on energy generation using renewable sources, and surging demand for STATCOM devices for voltage control. Further, rising investment in transmission networks and potential opportunities in APAC are the opportunities for FACTS manufacturers.

Flexible AC Transmission Systems (FACTS) Market

Based on vertical, utilities to hold largest share of FACTS market

FACTS is used in electric utilities for the generation, transmission, and distribution of electricity. The applications of FACTS in electrical utilities include voltage control, network stabilization, power oscillation damping, and power flow control, as well as helps in increasing transmission capacity. FACTS devices also provide an economical and efficient solution to ease the pressure on existing transmission lines and save high investment costs required for building new network extensions. This is expected to increase the demand for FACTS in utilities. Companies such as ABB, GE, and Siemens provide FACTS devices for the electric utilities market because of growing demands for the generation of electricity.

Second generation type to be largest shareholder of FACTS in coming years

Static synchronous compensator (STATCOM) belongs to the second generation of the FACTS family. STATCOM is based on power electronics voltage source converters (VSC). Second generation devices of FACTS exchange active and reactive power, as well as are capable of absorbing or generating these automatically. This generation has characteristics such as small and compact size, high response speed, and no harmonic errors. In 1991, Mitsubishi Electric Power Products became the first company to develop commercial STATCOM and install it at Inuyama Substation (Japan).

Flexible AC Transmission Systems (FACTS) Market

Europe to account for largest size of FACTS market in 2019

Europe is the largest revenue generator of FACTS and accounted for 35.0% of the FACTS market in 2019. The FACTS market in this region is segmented into Germany, France, the UK, and the Rest of Europe (Sweden, Italy, Spain, Switzerland, and the Netherlands). Presently, the UK is the largest consumer of FACTS in Europe. Rising industrial production, along with growing population, is increasing the demand for electricity across the European countries. This, in turn, results in the growth of the FACTS market in this region. Further, government regulations regarding carbon-free power transmission and grid code in Europe are expected to drive the FACTS market in this region.

Key Market Players

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), and Rongxin Power Ltd. (RXPE, UK) are a few major players in the FACTS market.

Report Scope

Report Metric

Details

Market size available for years

2016–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

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

Regions 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), and Rongxin Power Ltd.
(RXPE, UK) are a few major players in the FACTS market.

FACTS market segmentation:

In this report, the FACTS market is segmented into the following categories:

By Compensation Type:

  • Shunt compensation
  • Series compensation
  • Combined compensation

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

By Application:

  • Voltage control
  • Power control

By Vertical:

  • Utilities
  • Renewables
  • Industrial
  • Railways

Geographic Analysis:

  • Americas
  • Europe
  • APAC
  • RoW

 

Recent Developments

  • In September 2019, Grid Integration Solutions, a division of GE’s Grid Solutions, won 5 major projects for Flexible AC Transmission Systems (FACTS), which uses GE’s latest Static Var Compensator (SVC) technology. The projects will be implemented in Ascutney, Vermont for VT Transco, Vermont’s transmission utility; Santa Barbara D’Oeste in Brazil; Kurukshetra, India for The Power Grid Company of India; Rψd and Verdal in Norway for Statnett; and Jeddah North, Kingdom of Saudi Arabia for Saudi Electricity Company.
  • In August 2019, Ingeteam and Synergy Engineering Ltd (Canada), signed an agreement for Western Canada (BC, AB, SK, MB, YT) to support Ingeteam’s growing market share in North America, for LV and MV VSD products as well as STATCOM/BESS LV and MV products for industrial applications.
  • In April 2019, AMSC launched 4 new D-VAR STATCOM systems valued at USD 10 million to serve the renewable energy sector, 3 in the US, and 1 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 November 2018, ABB signed a contract worth ~USD 20 million with Furnas – Centrais Elιtricas S.A. (Brazil) to supply electrical systems that will enable existing alternating current (AC) lines to transmit high levels of power to the densely populated Southeast Brazil. This FACTS solution will boost transmission capacity and improve power quality for electricity consumers in Brazil.
  • In April 2018, ABB announced a collaboration with leading utility and academic partners to develop a technology that would help integrate renewable energy into transmission grids without jeopardizing grid stability.

Critical Questions the Report Answers:

  • Where will all these developments take the industry in the mid to long term?
  • What are emerging application areas that are expected to adopt FACTS?
  • Which vertical of the FACTS market is growing at the highest rate?
  • Which generation type of FACTS is expected to penetrate significantly during the forecast period?
  • What compensation type is the most opportunistic for FACTS manufacturers in the coming years?

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 FACTS Market, By Compensation Type, 2016–2024 (USD Million)
Table 2 FACTS Market, By Shunt Compensation Type, 2016–2024 (USD Million)
Table 3 FACTS Market for Shunt Compensation, By Region, 2016–2024 (USD Million)
Table 4 FACTS Market for Shunt Compensation in Americas, By Region, 2016–2024 (USD Million)
Table 5 FACTS Market for SVC Shunt Compensation, By Region, 2016–2024 (USD Thousand)
Table 6 FACTS Market for SVC Shunt Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 7 FACTS Market for Statcom Shunt Compensation, By Region, 2016–2024 (USD Million)
Table 8 FACTS Market for Statcom Shunt Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 9 FACTS Market for Series Compensation, By Region, 2016–2024 (USD Thousand)
Table 10 FACTS Market for Series Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 11 FACTS Market for Combined Compensation, By Region, 2016–2024 (USD Thousand)
Table 12 FACTS Market for Combined Compensation in Americas, By Region, 2016–2024 (USD Thousand)
Table 13 FACTS Market, By Application, 2016–2024 (USD Million)
Table 14 FACTS Market for Voltage Control, By Region, 2016–2024 (USD Million)
Table 15 FACTS Market for Voltage Control in Americas, By Region, 2016–2024 (USD Million)
Table 16 FACTS Market for Power Control, By Region, 2016–2024 (USD Thousand)
Table 17 FACTS Market for Power Control in Americas, By Region, 2016–2024 (USD Million)
Table 18 FACTS Market, By Generation Type, 2016–2024 (USD Million)
Table 19 FACTS Market for First Generation Type, By Region, 2016–2024 (USD Million)
Table 20 FACTS Market for First Generation Type in Americas, By Region, 2016–2024 (USD Million)
Table 21 FACTS Market for Second Generation Type, By Region, 2016–2024 (USD Million)
Table 22 FACTS 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 FACTS Market for Utilities, By Region, 2016–2024 (USD Million)
Table 25 FACTS Market for Utilities in Americas, By Region, 2016–2024 (USD Million)
Table 26 FACTS Market for Renewables, By Region, 2016–2024 (USD Thousand)
Table 27 FACTS Market for Renewables in Americas, By Region, 2016–2024 (USD Million)
Table 28 FACTS Market for Industrial, By Region, 2016–2024 (USD Thousand)
Table 29 FACTS Market for Industrial in Americas, By Region, 2016–2024 (USD Million)
Table 30 FACTS Market for Railways, By Region, 2016–2024 (USD Thousand)
Table 31 FACTS Market for Railways in Americas, By Region, 2016–2024 (USD Thousand)
Table 32 FACTS Market, By Region, 2016–2024 (USD Million)
Table 33 FACTS Market in Americas, By Region, 2016–2024 (USD Million)
Table 34 FACTS Market in Americas, By Compensation Type, 2016–2024 (USD Thousand)
Table 35 FACTS Market in Americas, By Shunt Compensation, 2016–2024 (USD Million)
Table 36 FACTS Market in Americas, By Generation Type, 2016–2024 (USD Million)
Table 37 FACTS Market in Americas, By Vertical, 2016–2024 (USD Thousand)
Table 38 FACTS Market in Americas, By Application, 2016–2024 (USD Million)
Table 39 FACTS Market in North America, By Country, 2016–2024 (USD Million)
Table 40 FACTS Market in North America, By Compensation Type, 2016–2024 (USD Thousand)
Table 41 FACTS Market in North America, By Shunt Compensation, 2016–2024 (USD Million)
Table 42 FACTS Market in North America, By Generation Type, 2016–2024 (USD Million)
Table 43 FACTS Market in North America, By Vertical, 2016–2024 (USD Thousand)
Table 44 FACTS Market in North America, By Application, 2016–2024 (USD Million)
Table 45 FACTS Market in US, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 46 FACTS Market in US, By Application, 2016–2024 (USD Thousand)
Table 47 FACTS Market in Rest of North America, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 48 FACTS Market in Rest of North America, By Application, 2016–2024 (USD Thousand)
Table 49 FACTS Market in South America, By Country, 2016–2024 (USD Million)
Table 50 FACTS Market in South America, By Compensation Type, 2016–2024 (USD Thousand)
Table 51 FACTS Market in South America, By Shunt Compensation, 2016–2024 (USD Million)
Table 52 FACTS Market in South America, By Generation Type, 2016–2024 (USD Million)
Table 53 FACTS Market in South America, By Vertical, 2016–2024 (USD Thousand)
Table 54 FACTS Market in South America, By Application, 2016–2024 (USD Million)
Table 55 FACTS Market in Brazil, By Shunt Compensation, 2016–2024 (USD Million)
Table 56 FACTS Market in Brazil, By Application, 2016–2024 (USD Million)
Table 57 FACTS Market in Rest of South America, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 58 FACTS Market in Rest of South America, By Application, 2016–2024 (USD Thousand)
Table 59 FACTS Market in Europe, By Region, 2016–2024 (USD Million)
Table 60 FACTS Market in Europe, By Compensation Type, 2016–2024 (USD Thousand)
Table 61 FACTS Market in Europe, By Shunt Compensation, 2016–2024 (USD Million)
Table 62 FACTS Market in Europe, By Generation Type, 2016–2024 (USD Million)
Table 63 FACTS Market in Europe, By Vertical, 2016–2024 (USD Thousand)
Table 64 FACTS Market in Europe, By Application, 2016–2024 (USD Million)
Table 65 FACTS Market in UK, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 66 FACTS Market in UK, By Application, 2016–2024 (USD Thousand)
Table 67 FACTS Market in Germany, By Shunt Compensation, 2016–2024 (USD Million)
Table 68 FACTS Market in Germany, By Application, 2016–2024 (USD Million)
Table 69 FACTS Market in France, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 70 FACTS Market in France, By Application, 2016–2024 (USD Thousand)
Table 71 FACTS Market in Rest of Europe, By Shunt Compensation, 2016–2024 (USD Million)
Table 72 FACTS Market in Rest of Europe, By Application, 2016–2024 (USD Million)
Table 73 FACTS Market in APAC, By Country, 2016–2024 (USD Million)
Table 74 FACTS Market in APAC, By Compensation Type, 2016–2024 (USD Million)
Table 75 FACTS Market in APAC, By Shunt Compensation, 2016–2024 (USD Million)
Table 76 FACTS Market in APAC, By Generation Type, 2016–2024 (USD Million)
Table 77 FACTS Market in APAC, By Vertical, 2016–2024 (USD Million)
Table 78 FACTS Market in APAC, By Application, 2016–2024 (USD Million)
Table 79 FACTS Market in China, By Shunt Compensation, 2016–2024 (USD Million)
Table 80 FACTS Market in China, By Application, 2016–2024 (USD Million)
Table 81 FACTS Market in India, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 82 FACTS Market in India, By Application, 2016–2024 (USD Thousand)
Table 83 FACTS Market in South Korea, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 84 FACTS Market in South Korea, By Application, 2016–2024 (USD Thousand)
Table 85 FACTS Market in Rest of APAC, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 86 FACTS Market in Rest of APAC, By Application, 2016–2024 (USD Million)
Table 87 FACTS Market in RoW, By Region, 2016–2024 (USD Million)
Table 88 FACTS Market in RoW, By Compensation Type, 2016–2024 (USD Thousand)
Table 89 FACTS Market in RoW, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 90 FACTS Market in RoW, By Generation Type, 2016–2024 (USD Million)
Table 91 FACTS Market in RoW, By Vertical, 2016–2024 (USD Thousand)
Table 92 FACTS Market in RoW, By Application, 2016–2024 (USD Thousand)
Table 93 FACTS Market in Middle East, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 94 FACTS Market in Middle East, By Application, 2016–2024 (USD Thousand)
Table 95 FACTS Market in Africa, By Shunt Compensation, 2016–2024 (USD Thousand)
Table 96 FACTS 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 FACTS 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 FACTS 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

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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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