A flexible alternating current transmission system (FACTS) is an electrical energy transmission system made up of static equipment. Its purpose is to improve the network's controllability and power transmission capabilities. It's usually a system based on power electronics. The power transfer capability of traditional AC transmission has been limited by numerous dynamic and static constraints such as voltage stability, transient stability, thermal limits, and so on. Because of these intrinsic power system limitations, current transmission sources have been underutilized.
MARKET SCOPE
The "Global Flexible AC current transmission system Market Analysis to 2028" is a specialized and in-depth study of the flexible AC current transmission system market with a special focus on the global market trend analysis. The report aims to provide an overview of flexible AC current transmission system market with detailed market segmentation by generation type, application, and geography. The global flexible AC current transmission system market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading flexible AC current transmission system market players and offers key trends and opportunities in the flexible AC current transmission system market.
MARKET SEGMENTATION
- The global flexible AC current transmission system market is segmented on the basis of generation type, and application.
- On the basis of generation type, the market is divided into first generation, and second generation.
- On the basis of application, it is fragmented into industrial, utilities, railways, renewables, and others.
Drivers:
- Growth in transmission lines.
- Rising investments in transmission network
- High installation cost.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The flexible AC current transmission system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the flexible AC current transmission system market in these regions.
IMPACT OF COVID-19 ON FLEXIBLE AC CURRENT TRANSMISSION SYSTEM MARKET
The emergency of COVID-19 has had a considerable negative effect on the growth of the flexible AC transmission systems market. This is majorly owing to railway sector continuously experiencing new challenges in the global pandemic because all railway operations were on a halt since April 2020 across the globe to stop the virus spread. This factor has negatively affected the FACTS market, railway being the major end use sector. However, during this pandemic, some of the government bodies are taking various initiatives to modernize the railway infrastructure. For instance in July, Indian government has started 200 railway maintenance projects to improve train speeds and rail safety through modernizing existing railway infrastructure. These aspects are ultimately impacting the global flexible AC transmission system market growth in the lockdown period.
MARKET PLAYERS
The report covers key developments in the flexible AC current transmission system market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from flexible AC current transmission systemmarket market are anticipated to lucrative growth opportunities in the future with the rising demand for flexible AC current transmission system market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Flexible AC current transmission system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Hyosung
- Infineon Technologies AG
- Siemens
- GE Grid Solutions
- Rongxin Power Ltd
OnR Electric
- Eaton
- Xian Electric Engineering
- ABB
- Mitsubishi Electric.