Flexible AC Transmission System Market to Grow at a CAGR of 7.23% to 2018 adds report “Flexible AC Transmission System (FACTS) Market by Compensation (Shunt, Series, Combined), Component (Thyristors, Capacitor Banks, Reactors), Application, Industry Vertical (Electric Utilities, Steel, Mining), Global Forecast & Analysis (2013 – 2018)” to its store.

Flexible AC Transmission System (FACTS) consists of power electronics and other static components and; it is used to enhance the controllability, flexibility and power transfer ability of a power transmission network. The ever increasing requirement of high power supply quality and high network reliability for applications such as electric utilities, steel industry and mining is expected to drive the global demand of FACTS devices from 2013 to 2018. In addition, the upgradation and replacement of power infrastructure in developed economies such as Americas and Europe, and the power capacity addition in developing regions such as APAC and ROW are also expected to play a crucial role in the growth of FACTS market.

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The global FACTS market can be majorly divided into three compensation types, namely shunt, series, combined series, and shunt connected. Shunt compensation consists of two devices: Static Var Compensator (SVC) and Static Synchronous Compensator (STATCOM); Series compensation is made up of Fixed Series Capacitor (FSC) and Thyristor Controlled Series Capacitor (TCSC); and combined series and shunt connected compensation consists of Unified Power Flow Controller (UPFC) and Interline Power Flow controller (IPFC).

This report also focuses on the components used in FACTS devices, such as power electronic devices, thyristors, reactors, capacitor banks, switchgear, protection and control systems,and so on. Steady state applications and dynamic applications of FACTS devices such as voltage control, power flow balancing, transient stability, voltage stability, power oscillations damping, and sub synchronous resonance mitigation are also discussed in the report.

The FACTS market is also analyzed on the basis of end user applications that include electric utilities, steel industry, mining, and others (wind power, railways). The global FACTS market by geography is segmented by various geographic regions such as Americas, Europe, APAC and ROW. The regional market has also been segmented by different countries. Each of the mentioned regions is further segmented by compensation type and industry verticals. Apart from market segmentation, the report also includes the cost and performance analysis of various FACTS devices such as SVC, STATCOM, FSC, and TCSC.

In this report, the in-depthanalysis of global FACTS market by enveloping all major market segments with complete qualitative analysis at each and every aspect,is given, for the forecast period from 2013 to 2018. This report also examines the market dynamics of FACTS market through five headings: drivers, restraints, opportunities, burning issues and winning imperatives. The detailed Porter’s five force analysis for the global FACTS market is also given in the report,which gives the understanding of all the contributing factors that affect the market; and their impact on its growth.

The ‘company profiles’ of all the major players in the FACTS market are added in the report to give a broader picture of the competition scenario in this market. The report also includes a competitive landscape segment that covers all key growth strategies of major players in the market such as ABB (Switzerland), Alstom (France), Siemens (Germany), Mitsubishi Electric (Japan), General Electric (U.S.), American Superconductor Corporation (U.S.), and Toshiba (Japan) among many others. The Competitive landscape includes market share analysis, mergers and acquisitions, partnerships, new product developments, and the key growth strategies of each player.

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Some of the Major Key Points Include:

  • The overall FACTS market is projected to reach $1,386.01 million by 2018 from the $912.85 million that it accounted for in 2012, at a CAGR of 7.23% from 2013 to 2018.
  • Static VAR Compensator (SVC) is the most widely used solution in the global FACTS market, followed by theFixed Series Capacitors(FSC); whereas devices such as STATCOM, UPFC and IPFC are customized solutions made for special requirements of the power grids.
  • Stringent government and environmental regulations regarding clean energy generation and transmission play a crucial role in the adoption of FACTS equipment, worldwide.
  • In developed economies like North America and Europe, the major driving factors that surge the demand of FACTS include upgrading and replacing of aging power infrastructure, and integration of renewable sources in power grids.
  • Electric utilities and steel & mining industry are the most prominent application areas of FACTS devices. Among all the applications, electric utilities accounted for more than 70% of the overall market in 2013; and are forecast to grow at a CAGR of 7.38% from 2013 to 2018.
  • The growing integration of renewable sources like wind power in power grids, is expected to surge the demand of FACTS in different geographies (especially, in Europe).
  • In developing regions such as APAC and ROW, the major driving factor for the growth of FACTS devices includes power capacity addition in existing transmission network to fulfill the electricity demands of the electric utilities and industrial applications.
  • APAC is the emerging market for FACTS devices with a CAGR of 8.87% from 2013-2018; and it is expected to overcome the Americas in terms of the market revenue in 2018. China, Australia and India are the fastest growing countries in APAC region.

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