COVID19: FLEXIBLE AC TRANSMISSION SYSTEMS (FACTS) MARKET TO REACH USD 1.8 BILLION BY 2027 | CAGR 5.4% — FORENCIS RESEARCH

  • According to the new market research report “Flexible AC Transmission Systems (FACTS) Market by Generation Type (First Generation and Second Generation), by Compensation Type (Shunt, Series and Combined), by Components (Phase Shifting Transformers, Protection and Control Systems and Power Electronic Devices), by Application (Power Control, Voltage Control), by End-User (Railway, Mining, Utilities and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Flexible AC Transmission Systems (FACTS) Market is estimated to reach USD 1.8 Billion by 2027 at a CAGR of around 5.4% during the review period.
  • The Flexible AC Transmission Systems (FACTS) is used to provide the controllability of the high voltage side of the network through the help of power electronic devices for initiate inductive as well as the capacitive power in the network.
  • Moreover, it helps to enhance the power quality, and enhance transmission efficiency to improve the reliability of AC grids. These is anticipate to increase the demand for the Flexible Ac Transmission Systems (FACTS) market in the forecast period.
  • With the rising growth of transmission lines is witness to boost the growth of the market in the forecast period. Whereas, the government is focusing on the growing generation capacity and growth of grid support.
  • One of the major key concern of THE Flexible AC Transmission Systems (FACTS) market is heavy cost of installations which may restraining factor for the growth of the market. Whereas, the cost of initial installation is very high which may lead to reduce the adoption of the system by various industries.
  • Growing penetration of smart grid network, where the advance FACTS technology helps the transition of transmission networks to make it advance and smart.
  • Increasing demand for STATCOM devices, which helps to power electronics to control power flow as well as to enhance the transient stability on power grids generates reactive power. Hence these will create an opportunities of the market growth in the forecast period.
  • North America:
  • Asia-Pacific:
  • General Electric:
  • ABB (HITACHI):

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