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Download Free sampleThe global Flexible AC Transmission Systems (FACTS) market was valued at 113.23 Million USD in 2021 and will grow with a CAGR of 5.13% from 2021 to 2027, based on Research newly published report.
The prime objective of Flexible AC Transmission Systems Market is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, Flexible AC Transmission Systems Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
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." The Flexible AC Transmission Systems (FACTS) market is concerted market; the revenue of top nine manufacturers accounts about 86% of the total revenue in 2017. The high-end products mainly come from USA, Asia-Pacific and Europe. 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% in 2017. There are mainly three type product of Flexible AC Transmission Systems (FACTS) market: Shunt Compensation, Series Compensation and Others. Geographically, the global Flexible AC Transmission Systems (FACTS) market has been segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa. The Europe held the largest share in the global market, its revenue of global market exceeds 46% in 2017. The next is Asia-Pacific.
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