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According to the latest research report by Global Market Insights, the global flexible AC transmission system FACTS market is expected to exceed $2.
5 billion
by 2025.
Over the years, the transmission sector has seen significant growth
due to the growing demand for efficient transmission and distribution control systems.
The rising demand to change traditional grids as capital flows to efficient grids enhances will drive the FACTS market
.
Security operations, network reliability, and economic costs are some of the key factors
expected to stimulate the industry landscape.
Improving system stability, reducing installation time and increasing transmission capacity are the major drivers for increasing the installation in the FACTS market
.
In addition, the increasing number of consumers who tend to install these products to protect system peripherals while increasing the service life of the power grid will further drive industry dynamics
.
Regionally, the flexible AC transmission systems market in Africa, Asia Pacific, and the Middle East is growing
significantly with the growing demand for efficient transmission and distribution technologies.
The growing demand for existing power retrofits, coupled with increasing capital allocations in the power sector, will boost the industry's prospects
.
Increasing heat load, power flow control, reduction of short-circuit levels, loop flow control, and post-emergency voltage control are several essential parameters
that facilitate the growth of FACTS units in stable deployments.
In addition, improved voltage stability, higher reliability, reduced power system losses, and fast-acting switching response will boost the overall market
.
In addition, the increasing power infrastructure for commercial and residential facilities strengthens the 132kV to 220kV FACTS market
.
The development of sustainable energy infrastructure obliges utilities and installers to focus on retrofitting existing power networks
.
Increasing global mining activities and metal mining have further led to a surge in demand for power grids to ensure continuous operational and process reliability, thereby expanding FACTS' market share
.
According to the latest research report by Global Market Insights, the global flexible AC transmission system FACTS market is expected to exceed $2.
5 billion
by 2025.
Over the years, the transmission sector has seen significant growth
due to the growing demand for efficient transmission and distribution control systems.
The rising demand to change traditional grids as capital flows to efficient grids enhances will drive the FACTS market
.
Security operations, network reliability, and economic costs are some of the key factors
expected to stimulate the industry landscape.
Improving system stability, reducing installation time and increasing transmission capacity are the major drivers for increasing the installation in the FACTS market
.
In addition, the increasing number of consumers who tend to install these products to protect system peripherals while increasing the service life of the power grid will further drive industry dynamics
.
Regionally, the flexible AC transmission systems market in Africa, Asia Pacific, and the Middle East is growing
significantly with the growing demand for efficient transmission and distribution technologies.
The growing demand for existing power retrofits, coupled with increasing capital allocations in the power sector, will boost the industry's prospects
.
Increasing heat load, power flow control, reduction of short-circuit levels, loop flow control, and post-emergency voltage control are several essential parameters
that facilitate the growth of FACTS units in stable deployments.
In addition, improved voltage stability, higher reliability, reduced power system losses, and fast-acting switching response will boost the overall market
.
In addition, the increasing power infrastructure for commercial and residential facilities strengthens the 132kV to 220kV FACTS market
.
The development of sustainable energy infrastructure obliges utilities and installers to focus on retrofitting existing power networks
.
Increasing global mining activities and metal mining have further led to a surge in demand for power grids to ensure continuous operational and process reliability, thereby expanding FACTS' market share
.
