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Flexible AC Transmission System (FACTS) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031- (By Derivatives Coverage, Geographic Coverage and By Company)

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    Report

  • 250 Pages
  • October 2024
  • Region: Global
  • Fairfield Market Research
  • ID: 6021273
The Flexible AC Transmission Systems (FACTS) market is projected to reach USD 2.02 billion by 2031, growing at a CAGR of 5.6% from its 2024 valuation of USD 1.37 billion. Comprising static devices, FACTS technology enables the smooth alternating transfer of electrical energy, helping to stabilize and control power grids. Its importance has increased in industries requiring high power controllability, particularly railroads, oil & gas, and power utilities.

FACTS technology provides enhanced control and grid stability by managing reactive power, which supports transmission quality and efficiency. As renewable energy sources like wind and solar are integrated into the grid, FACTS plays an essential role in managing voltage fluctuations. The growth of public power grids and cross-border power connections has created further demand, with Latin America and the Middle East & Africa regions seeing rising interest despite some cost challenges.

Drivers of Market Growth

1. Reliability and Stability in Power Grids: FACTS technology helps mitigate power fluctuations, especially with variable renewable energy sources. By stabilizing grid performance and reducing transmission losses, FACTS supports better network reliability.

2. Public Grid Expansion and Infrastructure Investments: Global initiatives to modernize and expand power grids, particularly in high-power markets like China, the United States, and India, are driving demand for FACTS.

3. Renewable Energy Integration: With renewable energy capacity on the rise, FACTS technology has become essential for maintaining stability in sustainable grids. Regulatory policies promoting green energy further bolster the adoption of FACTS.

Business Opportunities

The demand for FACTS technology extends across multiple sectors, including manufacturing, railways, and renewable energy. While high installation costs may limit rapid growth in some areas, advances in semiconductor-based electronics are expected to reduce costs, making FACTS more accessible. Start-ups and SMEs are well-positioned to explore niche applications, offering a competitive edge in emerging markets for flexible AC transmission solutions.

Regional Market Highlights

  • United States: Expected to reach USD 392 million by 2031 with a CAGR of 5.5%, driven by rising demand for grid modernization and support for renewable energy integration. Government incentives for clean energy initiatives encourage investment in FACTS technology.
  • China: China’s market is projected to achieve a CAGR of 5.5%, reaching USD 515 million by 2031. A robust manufacturing sector and significant government investment in energy R&D make China a market leader in FACTS deployment.
  • United Kingdom: Anticipated to grow at a CAGR of 5.2%, the UK’s market will likely reach USD 77.5 million by 2031. With ambitious renewable energy goals, the UK is focused on enhancing grid stability, and FACTS plays a key role in achieving these objectives.

Market Segments

1. Shunt Compensation: Shunt compensation technology is expected to dominate through 2031 with a CAGR of 5.4%. Its ability to modulate reactive power and reduce grid losses makes it highly preferred.

2. Voltage Control Application: Voltage control is anticipated to show a CAGR of 5.2%, with FACTS devices providing fast, accurate regulation to reduce transmission losses and improve grid stability, especially with renewable energy sources.

Competitive Analysis

Leading companies in the Flexible AC Transmission System (FACTS) Market prioritize research and development, continuously enhancing their offerings to meet industry demands for lower energy consumption, increased durability, and enhanced selectivity. Partnerships with local firms and research institutions enable these companies to innovate and expand their reach. Additionally, advancements in power electronics and control algorithms are expected to improve FACTS effectiveness and cost efficiency, attracting more stakeholders to invest in this technology.

Key Companies

  • Microsoft Corporation;
  • Siemens AG;
  • Bharat Heavy Electricals Ltd.;
  • S&C Electric
  • American Superconductor Corporation
  • GE Grid Solution
  • NR Electric Co., Ltd
  • American Electric Power Co., Inc.

Flexible AC Transmission Systems Market Segmentation

Compensation Type:

  • Shunt
  • Series
  • Combined

Generation Type:

  • Second
  • First

Application:

  • Voltage Control

End-Use:

  • Power Control
  • Utilities
  • Renewables
  • Industrial
  • Railways


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Table of Contents

1. Executive Summary
1.1. Global Flexible AC Transmission System (FACTS) Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Flexible AC Transmission System (FACTS) Market Outlook, 2019-2031
3.1. Global Flexible AC Transmission System (FACTS) Market Outlook, by Compensation Type, Value (US$ Bn), 2019-2031
3.1.1. Key Highlights
3.1.1.1. Shunt
3.1.1.2. Series
3.1.1.3. Combined
3.2. Global Flexible AC Transmission System (FACTS) Market Outlook, by Generation Type, Value (US$ Bn), 2019-2031
3.2.1. Key Highlights
3.2.1.1. Second
3.2.1.2. First
3.3. Global Flexible AC Transmission System (FACTS) Market Outlook, by End-Use, Value (US$ Bn), 2019-2031
3.3.1. Key Highlights
3.3.1.1. Power Control
3.3.1.2. Utilities
3.3.1.3. Renewables
3.3.1.4. Industrial
3.3.1.5. Railways
3.4. Global Flexible AC Transmission System (FACTS) Market Outlook, by Region, Value (US$ Bn), 2019-2031
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
4. North America Flexible AC Transmission System (FACTS) Market Outlook, 2019-2031
4.1. North America Flexible AC Transmission System (FACTS) Market Outlook, by Compensation Type, Value (US$ Bn), 2019-2031
4.1.1. Key Highlights
4.1.1.1. Shunt
4.1.1.2. Series
4.1.1.3. Combined
4.2. North America Flexible AC Transmission System (FACTS) Market Outlook, by Generation Type, Value (US$ Bn), 2019-2031
4.2.1. Key Highlights
4.2.1.1. Second
4.2.1.2. First
4.3. North America Flexible AC Transmission System (FACTS) Market Outlook, by End-Use, Value (US$ Bn), 2019-2031
4.3.1. Key Highlights
4.3.1.1. Power Control
4.3.1.2. Utilities
4.3.1.3. Renewables
4.3.1.4. Industrial
4.3.1.5. Railways
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Flexible AC Transmission System (FACTS) Market Outlook, by Country, Value (US$ Bn), 2019-2031
4.4.1. Key Highlights
4.4.1.1. U.S. Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
4.4.1.2. U.S. Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
4.4.1.3. U.S. Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
4.4.1.4. Canada Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
4.4.1.5. Canada Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
4.4.1.6. Canada Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
4.4.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Flexible AC Transmission System (FACTS) Market Outlook, 2019-2031
5.1. Europe Flexible AC Transmission System (FACTS) Market Outlook, by Compensation Type, Value (US$ Bn), 2019-2031
5.1.1. Key Highlights
5.1.1.1. Shunt
5.1.1.2. Series
5.1.1.3. Combined
5.2. Europe Flexible AC Transmission System (FACTS) Market Outlook, by Generation Type, Value (US$ Bn), 2019-2031
5.2.1. Key Highlights
5.2.1.1. Second
5.2.1.2. First
5.3. Europe Flexible AC Transmission System (FACTS) Market Outlook, by End-Use, Value (US$ Bn), 2019-2031
5.3.1. Key Highlights
5.3.1.1. Power Control
5.3.1.2. Utilities
5.3.1.3. Renewables
5.3.1.4. Industrial
5.3.1.5. Railways
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Flexible AC Transmission System (FACTS) Market Outlook, by Country, Value (US$ Bn), 2019-2031
5.4.1. Key Highlights
5.4.1.1. Germany Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
5.4.1.2. Germany Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
5.4.1.3. Germany Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
5.4.1.4. U.K. Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
5.4.1.5. U.K. Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
5.4.1.6. U.K. Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
5.4.1.7. France Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
5.4.1.8. France Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
5.4.1.9. France Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
5.4.1.10. Italy Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
5.4.1.11. Italy Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
5.4.1.12. Italy Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
5.4.1.13. Turkey Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
5.4.1.14. Turkey Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
5.4.1.15. Turkey Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
5.4.1.16. Russia Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
5.4.1.17. Russia Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
5.4.1.18. Russia Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
5.4.1.19. Rest of Europe Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
5.4.1.20. Rest of Europe Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
5.4.1.21. Rest of Europe Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Flexible AC Transmission System (FACTS) Market Outlook, 2019-2031
6.1. Asia Pacific Flexible AC Transmission System (FACTS) Market Outlook, by Compensation Type, Value (US$ Bn), 2019-2031
6.1.1. Key Highlights
6.1.1.1. Shunt
6.1.1.2. Series
6.1.1.3. Combined
6.2. Asia Pacific Flexible AC Transmission System (FACTS) Market Outlook, by Generation Type, Value (US$ Bn), 2019-2031
6.2.1. Key Highlights
6.2.1.1. Second
6.2.1.2. First
6.3. Asia Pacific Flexible AC Transmission System (FACTS) Market Outlook, by End-Use, Value (US$ Bn), 2019-2031
6.3.1. Key Highlights
6.3.1.1. Power Control
6.3.1.2. Utilities
6.3.1.3. Renewables
6.3.1.4. Industrial
6.3.1.5. Railways
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Flexible AC Transmission System (FACTS) Market Outlook, by Country, Value (US$ Bn), 2019-2031
6.4.1. Key Highlights
6.4.1.1. China Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
6.4.1.2. China Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
6.4.1.3. China Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
6.4.1.4. Japan Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
6.4.1.5. Japan Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
6.4.1.6. Japan Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
6.4.1.7. South Korea Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
6.4.1.8. South Korea Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
6.4.1.9. South Korea Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
6.4.1.10. India Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
6.4.1.11. India Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
6.4.1.12. India Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
6.4.1.13. Southeast Asia Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
6.4.1.14. Southeast Asia Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
6.4.1.15. Southeast Asia Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
6.4.1.16. Rest of Asia Pacific Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
6.4.1.17. Rest of Asia Pacific Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
6.4.1.18. Rest of Asia Pacific Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Flexible AC Transmission System (FACTS) Market Outlook, 2019-2031
7.1. Latin America Flexible AC Transmission System (FACTS) Market Outlook, by Compensation Type, Value (US$ Bn), 2019-2031
7.1.1. Key Highlights
7.1.1.1. Shunt
7.1.1.2. Series
7.1.1.3. Combined
7.2. Latin America Flexible AC Transmission System (FACTS) Market Outlook, by Generation Type, Value (US$ Bn), 2019-2031
7.2.1. Key Highlights
7.2.1.1. Second
7.2.1.2. First
7.3. Latin America Flexible AC Transmission System (FACTS) Market Outlook, by End-Use, Value (US$ Bn), 2019-2031
7.3.1. Key Highlights
7.3.1.1. Power Control
7.3.1.2. Utilities
7.3.1.3. Renewables
7.3.1.4. Industrial
7.3.1.5. Railways
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Flexible AC Transmission System (FACTS) Market Outlook, by Country, Value (US$ Bn), 2019-2031
7.4.1. Key Highlights
7.4.1.1. Brazil Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
7.4.1.2. Brazil Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
7.4.1.3. Brazil Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
7.4.1.4. Mexico Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
7.4.1.5. Mexico Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
7.4.1.6. Mexico Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
7.4.1.7. Argentina Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
7.4.1.8. Argentina Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
7.4.1.9. Argentina Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
7.4.1.10. Rest of Latin America Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
7.4.1.11. Rest of Latin America Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
7.4.1.12. Rest of Latin America Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Flexible AC Transmission System (FACTS) Market Outlook, 2019-2031
8.1. Middle East & Africa Flexible AC Transmission System (FACTS) Market Outlook, by Compensation Type, Value (US$ Bn), 2019-2031
8.1.1. Key Highlights
8.1.1.1. Shunt
8.1.1.2. Series
8.1.1.3. Combined
8.2. Middle East & Africa Flexible AC Transmission System (FACTS) Market Outlook, by Generation Type, Value (US$ Bn), 2019-2031
8.2.1. Key Highlights
8.2.1.1. Second
8.2.1.2. First
8.3. Middle East & Africa Flexible AC Transmission System (FACTS) Market Outlook, by End-Use, Value (US$ Bn), 2019-2031
8.3.1. Key Highlights
8.3.1.1. Power Control
8.3.1.2. Utilities
8.3.1.3. Renewables
8.3.1.4. Industrial
8.3.1.5. Railways
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Flexible AC Transmission System (FACTS) Market Outlook, by Country, Value (US$ Bn), 2019-2031
8.4.1. Key Highlights
8.4.1.1. GCC Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
8.4.1.2. GCC Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
8.4.1.3. GCC Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
8.4.1.4. South Africa Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
8.4.1.5. South Africa Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
8.4.1.6. South Africa Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
8.4.1.7. Egypt Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
8.4.1.8. Egypt Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
8.4.1.9. Egypt Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
8.4.1.10. Nigeria Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
8.4.1.11. Nigeria Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
8.4.1.12. Nigeria Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
8.4.1.13. Rest of Middle East & Africa Flexible AC Transmission System (FACTS) Market by Compensation Type, Value (US$ Bn), 2019-2031
8.4.1.14. Rest of Middle East & Africa Flexible AC Transmission System (FACTS) Market by Generation Type, Value (US$ Bn), 2019-2031
8.4.1.15. Rest of Middle East & Africa Flexible AC Transmission System (FACTS) Market by End-Use, Value (US$ Bn), 2019-2031
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. Company Market Share Analysis, 2024
9.2. Competitive Dashboard
9.3. Company Profiles
9.3.1. Microsoft Corporation
9.3.1.1. Company Overview
9.3.1.2. Product Portfolio
9.3.1.3. Financial Overview
9.3.1.4. Business Strategies and Development
9.3.2. Siemens AG
9.3.2.1. Company Overview
9.3.2.2. Product Portfolio
9.3.2.3. Financial Overview
9.3.2.4. Business Strategies and Development
9.3.3. Bharat Heavy Electricals Ltd.
9.3.3.1. Company Overview
9.3.3.2. Product Portfolio
9.3.3.3. Financial Overview
9.3.3.4. Business Strategies and Development
9.3.4. S&C Electric
9.3.4.1. Company Overview
9.3.4.2. Product Portfolio
9.3.4.3. Financial Overview
9.3.4.4. Business Strategies and Development
9.3.5. American Superconductor Corporation
9.3.5.1. Company Overview
9.3.5.2. Product Portfolio
9.3.5.3. Financial Overview
9.3.5.4. Business Strategies and Development
9.3.6. GE Grid Solution
9.3.6.1. Company Overview
9.3.6.2. Product Portfolio
9.3.6.3. Financial Overview
9.3.6.4. Business Strategies and Development
9.3.7. NR Electric Co., Ltd
9.3.7.1. Company Overview
9.3.7.2. Product Portfolio
9.3.7.3. Financial Overview
9.3.7.4. Business Strategies and Development
9.3.8. American Electric Power Co., Inc.
9.3.8.1. Company Overview
9.3.8.2. Product Portfolio
9.3.8.3. Financial Overview
9.3.8.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Companies Mentioned

Some of the key companies profiled in this Flexible AC Transmission System (FACTS) Market include:
  • Microsoft Corporation
  • Siemens AG
  • Bharat Heavy Electricals Ltd.
  • S&C Electric Company
  • American Superconductor Corporation (AMSC)
  • American Electric Power Co., Inc. (AEP)
  • GE Grid Solutions
  • NR Electric Co., Ltd.
  • Sieyuan Electric Co., Ltd.
  • Trench Austria GmbH

Methodology

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