Global Flexible AC Transmission Systems (FACTS) Market Growth (Status and Outlook) 2023-2029

Global Flexible AC Transmission Systems (FACTS) Market Growth (Status and Outlook) 2023-2029

A flexible alternating current transmission system (FACTS) is a system composed of static equipment used for the AC transmission of electrical energy. It is meant to enhance controllability and increase power transfer capability of the network. It is generally a power electronics-based system.

FACTS is defined by the IEEE as "a power electronic based system and other static equipment that provide control of one or more AC transmission system parameters to enhance controllability and increase power transfer capability."

According to Siemens "FACTS Increase the reliability of AC grids and reduce power delivery costs. They improve transmission quality and efficiency of power transmission by supplying inductive or reactive power to the grid.

LPI (LP Information)' newest research report, the “Flexible AC Transmission Systems (FACTS) Industry Forecast” looks at past sales and reviews total world Flexible AC Transmission Systems (FACTS) sales in 2022, providing a comprehensive analysis by region and market sector of projected Flexible AC Transmission Systems (FACTS) sales for 2023 through 2029. With Flexible AC Transmission Systems (FACTS) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Flexible AC Transmission Systems (FACTS) industry.

This Insight Report provides a comprehensive analysis of the global Flexible AC Transmission Systems (FACTS) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Flexible AC Transmission Systems (FACTS) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Flexible AC Transmission Systems (FACTS) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Flexible AC Transmission Systems (FACTS) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Flexible AC Transmission Systems (FACTS).

The global Flexible AC Transmission Systems (FACTS) market size is projected to grow from US$ 1404.1 million in 2022 to US$ 1945.8 million in 2029; it is expected to grow at a CAGR of 4.8% from 2023 to 2029.

The leading manufactures mainly are ABB, Siemens, RXPE, Sieyuan Electric, Mitsubishi Electric, GE, Toshiba, AMSC and Hyosung. ABB is the largest manufacturer; its revenue of global market exceeds 31%.

This report presents a comprehensive overview, market shares, and growth opportunities of Flexible AC Transmission Systems (FACTS) market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Shunt Compensation
Series Compensation
Others

Segmentation by application
Metal Industry
Utilities
Railway
Mining
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Siemens
RXPE
Sieyuan Electric
Mitsubishi Electric
GE
Toshiba
AMSC
Hyosung

Please note: The report will take approximately 2 business days to prepare and deliver.