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Flexible Alternating Current Transmission Systems Market Share, Size, Trend, Forecast, Analysis and Growth from 2022 to 2028

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Mohit Joshi
Flexible Alternating Current Transmission Systems Market Share, Size, Trend, Forecast, Analysis and Growth from 2022 to 2028

According to a new report published by UnivDatos Markets Insights, the Flexible Alternating Current Transmission Systems Market was valued at USD 1030.5 million in 2021 & is expected to grow at a CAGR of 12.0% from 2022-2028. The analysis has been segmented into Compensation Type (Shunt Compensation, Combined Series Shunt Compensation and Series Compensation); Controller (Static Var Compensator, Static Synchronous Compensator, Unified Power Flow Controller, and Others); and Industry Vertical (Electrical Utility, Oil & Gas, Railways, and Others); Region/Country.


Access sample report (including graphs, charts, and figures):- https://univdatos.com/report/flexible-alternating-current-transmission-systems-market/get-a-free-sample-form.php?product_id=38266


The flexible alternating current transmission systems market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the flexible alternating current transmission systems market. The flexible alternating current transmission systems market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the flexible alternating current transmission systems market at the global and regional levels.

Key Market Dynamics

Flexible Alternating Current Transmission Systems (FACTS) are power electronics-based systems that play a significant role in improving the controllability and power transfer capability of AC transmission networks. These devices offer a range of functionalities, including congestion management, voltage control, and stability improvement, and are critical in modern power systems. Flexible Alternating Current Transmission Systems (FACTS) are expected to grow with the adoption of renewable energy and smart grids. As the world shifts towards using more renewable energy sources, FACTS devices are becoming increasingly important in improving voltage stability and power transfer capability in AC transmission networks. The rise in renewable energy capacity has positively impacted the global FACTS market, and future research is being directed towards enhancing the performance of FACTS devices in power grids with increasing renewable energy penetration. Additionally, the development of smart grids, which utilize digital and advanced technologies, is expected to further drive the integration of FACTS devices in power grids. With the integration of distributed generation technology and power electronics technology, FACTS devices are also being applied in microgrids.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the global economy, including the FACTS market. However, the market is still expected to grow due to the increase in global renewable energy capacity and the rise in demand for improved power transmission and stability. The decline in electricity demand during the pandemic resulted in low non-renewable energy production in the European Union (EU). However, with the reopening of businesses, revenue opportunities for FACTS companies are increasing. The rise in electricity demand in industrial and commercial sectors is expected to generate incremental opportunities for the FACTS market.

The global Flexible Alternating Current Transmission Systems Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on compensation type, the market is segmented into shunt compensation, combined series shunt compensation and series compensation. The shunt compensation segment is expected to hold a significant market share during the forecast period.

·        By controller, the market is segmented into static var compensator, static synchronous compensator, unified power flow controller, and others. The static synchronous compensator segment is expected to register a significant CAGR during the forecast period.

·        On the basis of vertical, the market is segmented into electrical utility, oil & gas, railways, and others. The oil & gas segment is expected to register to dominate CAGR during the forecast period. 


Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://univdatos.com/report/flexible-alternating-current-transmission-systems-market/


Flexible Alternating Current Transmission Systems Market Geographical Segmentation Includes:

·        North America (U.S., Canada, and the Rest of North America)

·        Europe (Germany, UK, France, Italy, and the Rest of Europe)

·        Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)

·        Rest of the World

Asia-Pacific dominated the flexible alternating current transmission systems market in 2021 due to the rapid economic growth in countries like India, China, and Southeast Asia has led to a surge in demand for electricity. This has put pressure on the power transmission infrastructure, making it necessary to improve the efficiency and reliability of the grid. FACTS technology has emerged as an effective solution to address these challenges and enhance the power grid’s capacity. In addition, the increasing penetration of renewable energy sources such as wind and solar has resulted in the integration of a large number of small-scale generators into the grid. This has increased the complexity of the power system, making it more prone to voltage instability and power quality issues. FACTS technology can help to mitigate these challenges by providing dynamic voltage control and power factor correction. 

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the flexible alternating current transmission systems market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.


Recent Developments:

·        In May 2020, GE Renewable Energy Business established a DRC (Dynamic Reactive Compensator) project for the National Grid in the United Kingdom which is part of the largest utility based STATCOM project in Europe.

·        In June 2020, Mitsubishi Electric Corporation acquired Sharp Fukuyama Semiconductor Co. Ltd. which is scheduled to operate in November 2021 to strengthen its power segment business.


Check complete table of contents with list of table and figures- https://univdatos.com/report/flexible-alternating-current-transmission-systems-market/


Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the flexible alternating current transmission systems market?

• Which factors are influencing the flexible alternating current transmission systems market over the forecast period?

• What are the global challenges, threats, and risks in the flexible alternating current transmission systems market?

• Which factors are propelling and restraining the flexible alternating current transmission systems market?

• What are the demanding global regions of the flexible alternating current transmission systems market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

We understand the requirements of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs. 

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