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According to a report released by Markets and Markets, an international market research institution, the global flexible AC transmission system FACTS market is expected to reach $1.
2 billion in 2020 and is expected to increase to $1.
5 billion by 2025, with a compound annual growth rate of 5.
4%.
In traditional AC transmission systems, the ability to transmit AC power is limited
by factors such as transient stability, thermal, voltage, and short-circuit current limitations.
These limitations can be overcome by using flexible AC transmission systems (FACTS), as they offer multiple advantages such as controllability, flexibility, and reliability, and enhance the power transmission capabilities
of the network.
FACTS devices help reduce voltage drops
on transmission lines by managing voltage-constrained power electronics.
By adopting FACTS, grid operators can ensure reliable and stable grid operation
even as the number of small distributed power plants increases.
FACTS not only improves quality and efficiency, but also reduces power supply costs
by supplying inductive and reactive power to the grid.
As the benefits of FACTS equipment continue to increase, these have been widely used in industries
such as utilities, railways, renewable energy, and industry.
The application of FACTS in electric utilities is expected to dominate the market during the forecast period, including voltage control, network stabilization, power oscillation damping, and power flow control, as well as increasing transmission capacity
.
FACTS equipment also provides a cost-effective solution to relieve stress on existing transmission lines and save the high investment costs
required to build new network expansions.
This is expected to increase utility demand
for FACTS.
From a regional and regional perspective, the UK is the main demand country
in the European FACTS market.
The growing demand for electricity along with advances in technology requires a robust grid system, which in turn drives the growth
of the UK FACTS market.
In addition, as the second generation of FACTS' equipment, STATCOM, is mainly adopted
by various companies in the UK due to its advantages such as cost-effectiveness and voltage regulation.
From the perspective of suppliers, Swiss ABB, American General Electric, German Siemens, Japan's Mitsubishi Electric, American Infineon, American Superconductor Company, South Korea's Hyosung, China's Nari Jibao, etc.
will become the world's leading flexible AC transmission system technology provider
.
According to a report released by Markets and Markets, an international market research institution, the global flexible AC transmission system FACTS market is expected to reach $1.
2 billion in 2020 and is expected to increase to $1.
5 billion by 2025, with a compound annual growth rate of 5.
4%.
In traditional AC transmission systems, the ability to transmit AC power is limited
by factors such as transient stability, thermal, voltage, and short-circuit current limitations.
These limitations can be overcome by using flexible AC transmission systems (FACTS), as they offer multiple advantages such as controllability, flexibility, and reliability, and enhance the power transmission capabilities
of the network.
FACTS devices help reduce voltage drops
on transmission lines by managing voltage-constrained power electronics.
By adopting FACTS, grid operators can ensure reliable and stable grid operation
even as the number of small distributed power plants increases.
FACTS not only improves quality and efficiency, but also reduces power supply costs
by supplying inductive and reactive power to the grid.
As the benefits of FACTS equipment continue to increase, these have been widely used in industries
such as utilities, railways, renewable energy, and industry.
The application of FACTS in electric utilities is expected to dominate the market during the forecast period, including voltage control, network stabilization, power oscillation damping, and power flow control, as well as increasing transmission capacity
.
FACTS equipment also provides a cost-effective solution to relieve stress on existing transmission lines and save the high investment costs
required to build new network expansions.
This is expected to increase utility demand
for FACTS.
From a regional and regional perspective, the UK is the main demand country
in the European FACTS market.
The growing demand for electricity along with advances in technology requires a robust grid system, which in turn drives the growth
of the UK FACTS market.
In addition, as the second generation of FACTS' equipment, STATCOM, is mainly adopted
by various companies in the UK due to its advantages such as cost-effectiveness and voltage regulation.
From the perspective of suppliers, Swiss ABB, American General Electric, German Siemens, Japan's Mitsubishi Electric, American Infineon, American Superconductor Company, South Korea's Hyosung, China's Nari Jibao, etc.
will become the world's leading flexible AC transmission system technology provider
.
