New Flexible AC Transmission System Market Research Outlook, Trends and Key Companies Forecast to 2021

Global Flexible AC Transmission System (FACTS) Market is classified on the basis of compensation type, components, application, industry and geography. A Flexible AC Transmission System refers to the system consisting of power electronic devices along with power system devices to improve the controllability and constancy of the transmission system and increase the power transfer capabilities.

The factors that propel the market growth include growing demand for power control solution. In addition, innovation and replacement of power infrastructure in the developed countries such as North America and Europe is driving the growth of the market.

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Flexible AC Transmission System (FACTS) Market is classified on the basis of compensation type as shunt compensation, series compensation, and combined shunt & series compensation. Based on components the market is bifurcated as power electronic devices, thyristors, reactors, capacitor banks, GIS switchgear, phase shifting transformers (PST), surge arresters, and protection & control systems.

Flexible AC Transmission System (FACTS) Market is classified on the basis of application as steady state and dynamic state application. Based on industry the global market is bifurcated as electric utilities, renewables, railways, industrial, and oil & gas. Based on geography, the global market spans North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa.

The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, Australia & New Zealand. The Middle East and Africa region consists of GCC, South Africa and North Africa.

Some of the key players that fuel the growth of the Flexible AC Transmission System (FACTS) Market include ABB, Alstom, Eaton, Xian Electric Engineering, Adani Power, American Electric Power, American Superconductor, Beta Engineering, Corpoelec, Crompton Greaves, Electranix, GE, Mitsubishi Electric Power Products, Nampower, Quanta Technology and others.

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