Flexible AC Transmission System (FACTS) Market Trends, Size, Growth, and Forecast

According to IMARC Group's latest research report, titled "Flexible AC Transmission System (FACTS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," presents a comprehensive analysis of the industry, covering flexible AC transmission system (FACTS) market share, size, trends, demand, and growth prospects. The report also provides competitors and regional analysis and showcases the contemporary advancements in the global market.

How big is the Flexible AC Transmission System (FACTS) Market?

The global flexible AC transmission system (FACTS) market size reachedUS$ 1.33 Billion in 2022Looking forward, IMARC Group expects the market to reachUS$ 1.86 Billion by 2028, exhibiting a growth rate(CAGR) of 5.60% during 2023-2028.

What is Flexible AC Transmission System (FACTS)?

A flexible AC transmission system (FACTS) refers to a technology used in power transmission systems to enhance their efficiency and control the flow of electricity.

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What are the Growth Prospects and Trends in the Flexible AC Transmission System (FACTS) Market?

The escalating demand for electricity is resulting in the development of electrified infrastructures and distribution lines, which is among the key factors stimulating the flexible AC transmission system (FACTS) market. aging power grid infrastructures in several countries, are acting as significant growth-inducing factors. , the inflating need for renewable energy sources, such as wind and solar power, owing to the increasing consumer environmental concerns,is bolstering the use of FACTS technology that can aid in mitigating the intermittent nature of sustainable energy by regulating power flow and enhancing grid stability, which is positively influencing the global market.strategic collaborations among key market players to strengthen their foothold are anticipated to fuel the flexible AC transmission system (FACTS) market over the forecasted period.

Who are the key Players Operating in the Industry?

Alstom

Eaton Corporation PLC

GE Grid Solutions (General Electric)

Hitachi Energy Ltd.

Mitsubishi Electric Corporation

NR Electric Co., Ltd. (Nari Technology Co., Ltd.)

Siemens Energy

Toshiba Energy Systems & Solutions Corporation (Toshiba Corp.)

What is included in Market Segmentation?

The report has segmented the market into the following categories:

Compensation Type Insights:

Series Compensation

Shunt Compensation

Combined Series-Shunt Compensation

Controller Insights:

Static Synchronous Compensator (STATCOM)

Static Var Compensator (SVC)

Unified Power Flow Controllers (UPFCs)

Thyristor Controlled Series Compensator (TCSC)

Others

Industry Vertical Insights:

Utilities

Renewables

Railways

Others

Breakup by Region:

North America (United States, Canada)

Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

Europe (Germany, France, United Kingdom, Italy, Spain, Others)

Latin America (Brazil, Mexico, Others)

Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market performance

Market Outlook

Porter's Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value chain

Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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