Table of Content

1    INTRODUCTION    27
1.1    STUDY OBJECTIVES    27
1.2    DEFINITION AND SCOPE    27
1.2.1    INCLUSIONS AND EXCLUSIONS    27
1.3    STUDY SCOPE    28
1.3.1    MARKETS COVERED    28
FIGURE 1    MARKET SEGMENTATION    28
1.3.2    YEARS CONSIDERED    28
1.4    CURRENCY    29
1.5    STAKEHOLDERS    29
2    RESEARCH METHODOLOGY    30
2.1    RESEARCH DATA    30
FIGURE 2    FACTS MARKET: RESEARCH DESIGN    30
2.1.1    SECONDARY DATA    32
2.1.1.1    Key data from secondary sources    32
2.1.2    PRIMARY DATA    33
2.1.2.1    Breakdown of primaries    33
2.1.2.2    Key data from primary sources    33
2.1.3    SECONDARY AND PRIMARY RESEARCH    34
2.2    MARKET SIZE ESTIMATION    35
FIGURE 3    MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE OF MARKET PLAYERS    35
FIGURE 4    MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIZE) – BOTTOM UP MARKET ESTIMATION FOR FACTS, BY COMPENSATION TYPE    35
2.2.1    BOTTOM-UP APPROACH    36
2.2.1.1    Approach used to arrive at market share by bottom-up analysis    36
FIGURE 5    MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH    36
2.2.1.2    Approach for capturing company-specific information in
FACTS value chain    36
2.2.2    TOP-DOWN APPROACH    37
2.2.2.1    Approach used to arrive at market share by top-down analysis    37
FIGURE 6    MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH    37
2.3    MARKET BREAKDOWN AND DATA TRIANGULATION    38
FIGURE 7    DATA TRIANGULATION METHODOLOGY    38
2.4    RESEARCH ASSUMPTIONS    39

3    EXECUTIVE SUMMARY    40
FIGURE 8    SHUNT COMPENSATION SEGMENT TO DOMINATE FACTS MARKET,
BY COMPENSATION TYPE, FROM 2020 TO 2025    40
FIGURE 9    STATCOM SEGMENT TO DOMINATE FACTS MARKET, BY SHUNT COMPENSATION, DURING FORECAST PERIOD    41
FIGURE 10    SECOND GENERATION SEGMENT TO CAPTURE LARGER MARKET SHARE DURING FORECAST PERIOD    42
FIGURE 11    UTILITIES VERTICAL HELD LARGEST MARKET SHARE IN 2020    42
FIGURE 12    EUROPE ACCOUNTED FOR LARGEST SHARE OF FACTS MARKET IN 2019    43
3.1    COVID-19 IMPACT ON FACTS MARKET    43
FIGURE 13    COVID-19 IMPACT ON FACTS MARKET    43
3.1.1    REALISTIC SCENARIO (POST-COVID-19)    44
3.1.2    OPTIMISTIC SCENARIO (POST-COVID-19)    44
3.1.3    PESSIMISTIC SCENARIO (POST-COVID-19)    44
4    PREMIUM INSIGHT    45
4.1    ATTRACTIVE GROWTH OPPORTUNITIES IN FACTS MARKET    45
FIGURE 14    INCREASING DEMAND FOR POWER AND VOLTAGE CONTROL SOLUTIONS TO DRIVE GROWTH OF FACTS MARKET    45
4.2    FACTS MARKET, BY APPLICATION    45
FIGURE 15    VOLTAGE CONTROL SEGMENT TO DOMINATE FACTS MARKET DURING FORECAST PERIOD    45
4.3    FACTS MARKET IN APAC, BY VERTICAL AND COUNTRY    46
FIGURE 16    UTILITIES AND CHINA TO ACCOUNT FOR LARGEST SHARES OF FACTS MARKET IN APAC IN 2025    46
4.4    FACTS MARKET, BY COMPENSATION TYPE    46
FIGURE 17    SHUNT COMPENSATION SEGMENT TO REGISTER HIGHEST CAGR
FROM 2020 TO 2025    46
4.5    FACTS MARKET, BY REGION    47
FIGURE 18    APAC TO EXHIBIT HIGHEST CAGR IN FACTS MARKET DURING
FORECAST PERIOD    47
5    MARKET OVERVIEW    48
5.1    INTRODUCTION    48
5.2    MARKET DYNAMICS    48
FIGURE 19    FACTS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    48
5.2.1    DRIVERS    48
5.2.1.1    Increasing benefits offered by FACTS    48
5.2.1.2    Growth in transmission lines    49
5.2.1.3    Growing utilization of renewable energy into power grids    49
5.2.1.4    Rising demand for STATCOM devices for voltage control    49
FIGURE 20    IMPACT ANALYSIS: DRIVERS    50
5.2.2    RESTRAINTS    50
5.2.2.1    High installation cost    50
5.2.2.2    Delay or cancellation of projects due to COVID-19    50
TABLE 1    POLICY CHANGES FOR PROVIDING FLEXIBILITY OR DELAYING
IN ENERGY PROJECTS    50
5.2.2.3    Trade restrictions imposed by the US on China    51
5.2.3    OPPORTUNITIES    51
5.2.3.1    Rising investments in transmission network    51
FIGURE 21    TRANSMISSION INVESTMENT – USD BILLION (2016–2018)    51
5.2.3.2    Potential opportunities in APAC    52
5.2.3.3    Focus on increasing domestic production and localization in the post-COVID-19 era    52
5.2.4    CHALLENGES    52
5.2.4.1    Size and communication limitations in FACTS    52
5.2.4.2    Adverse impacts of lockdowns and social distancing on
FACTS market    52
5.3    VALUE CHAIN ANALYSIS    53
FIGURE 22    VALUE CHAIN ANALYSIS: FACTS MARKET    53
6    FUNCTIONS OF FLEXIBLE AC TRANSMISSION SYSTEM    54
6.1    INTRODUCTION    54
6.2    VOLTAGE CONTROL    54
6.2.1    DEVICES SUCH AS STATCOM AND SVC ARE USED FOR VOLTAGE CONTROL    54
6.3    NETWORK STABILIZATION    54
6.3.1    SHUNT AND SERIES COMPENSATION ARE USED FOR
NETWORK STABILIZATION    54
6.4    TRANSMISSION CAPACITY    54
6.4.1    SERIES COMPENSATION IS A COST EFFECTIVE WAY TO INCREASE TRANSMISSION CAPACITY    54
6.5    HARMONIC SUPPRESSION    54
6.5.1    SVC AND STATCOM ARE USED FOR HARMONIC SUPPRESSION    54
7    COMPONENTS OF FLEXIBLE AC TRANSMISSION SYSTEM    55
7.1    INTRODUCTION    55
7.2    POWER ELECTRONIC DEVICES    55
7.2.1    CAPACITOR BANKS    55
7.2.1.1    Capacitor banks are used to increase power transmission capability    55
7.2.2    THYRISTORS    55
7.2.2.1    Thyristors are used to deliver high power in FACTS devices    55
7.2.3    REACTORS    55
7.2.3.1    Reactors are used to limit the effects of overvoltage in
transmission line    55
7.3    PHASE SHIFTING TRANSFORMERS    56
7.3.1    PHASE SHIFTING TRANSFORMERS ARE USED TO CHANGE EFFECTIVE PHASE DISPLACEMENT BETWEEN INPUT VOLTAGE AND OUTPUT VOLTAGE OF TRANSMISSION LINE    56

7.4    PROTECTION AND CONTROL SYSTEMS    56
7.4.1    PROTECTION AND CONTROL SYSTEMS ARE USED TO ENSURE
PROPER NETWORK RELIABILITY    56
8    FACTS MARKET, BY COMPENSATION TYPE    57
8.1    INTRODUCTION    58
TABLE 2    FACTS MARKET, BY COMPENSATION TYPE, 2016–2019 (USD MILLION)    58
TABLE 3    FACTS MARKET, BY COMPENSATION TYPE, 2020–2025 (USD MILLION)    58
TABLE 4    FACTS MARKET, BY SHUNT COMPENSATION TYPE,
2016–2019 (USD MILLION)    58
TABLE 5    FACTS MARKET, BY SHUNT COMPENSATION TYPE,
2020–2025 (USD MILLION)    58
8.2    SHUNT COMPENSATION    59
TABLE 6    FACTS MARKET FOR SHUNT COMPENSATION, BY REGION,
2016–2019 (USD MILLION)    59
TABLE 7    FACTS MARKET FOR SHUNT COMPENSATION, BY REGION,
2020–2025 (USD MILLION)    59
8.2.1    STATIC VAR COMPENSATION (SVC)    59
8.2.1.1    Need for line voltage control is likely to increase the demand for static VAR compensation    59
TABLE 8    FACTS MARKET FOR SVC SHUNT COMPENSATION, BY REGION, 2016–2019 (USD THOUSAND)    60
TABLE 9    FACTS MARKET FOR SVC SHUNT COMPENSATION, BY REGION, 2020–2025 (USD THOUSAND)    60
8.2.2    STATIC COMPENSATOR (STATCOM)    60
8.2.2.1    APAC to witness highest growth for static compensator (STATCOM)    60
TABLE 10    FACTS MARKET FOR STATCOM SHUNT COMPENSATION, BY REGION,
2016–2019 (USD MILLION)    61
TABLE 11    FACTS MARKET FOR STATCOM SHUNT COMPENSATION, BY REGION,
2020–2025 (USD MILLION)    61
8.3    SERIES COMPENSATION    61
TABLE 12    FACTS MARKET FOR SERIES COMPENSATION, BY REGION, 2016–2019
(USD THOUSAND)    61
TABLE 13    FACTS MARKET FOR SERIES COMPENSATION, BY REGION, 2020–2025
(USD THOUSAND)    62
8.3.1    FIXED SERIES CAPACITOR    62
8.3.1.1    Need for minimum voltage profile to increase demand for
fixed series capacitor    62
8.3.2    THYRISTOR SERIES CAPACITOR    62
8.3.2.1    Need for more power transfer capability over existing transmission networks boosting demand for thyristor series capacitors    62
8.4    COMBINED COMPENSATION    63
8.4.1    APAC WAS LARGEST SHAREHOLDER FOR COMBINED
COMPENSATION IN 2019    63
TABLE 14    FACTS MARKET FOR COMBINED COMPENSATION, BY REGION, 2016–2019 (USD THOUSAND)    63
TABLE 15    FACTS MARKET FOR COMBINED COMPENSATION, BY REGION, 2020-2025 (USD THOUSAND)    63
FIGURE 23    PRE- AND POST-COVID-19 ANALYSIS OF FACTS MARKET FOR SHUNT COMPENSATION TYPE, 2020–2025 (USD MILLION)    64
8.5    IMPACT OF COVID-19 ON COMPENSATION TYPE    64
9    FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY APPLICATION    65
9.1    INTRODUCTION    66
TABLE 16    FACTS MARKET, BY APPLICATION, 2016–2019 (USD MILLION)    66
TABLE 17    FACTS MARKET, BY APPLICATION, 2020–2025 (USD MILLION)    66
9.2    VOLTAGE CONTROL    66
9.2.1    VOLTAGE CONTROL DOMINATED FACTS MARKET, IN TERMS OF SIZE, IN 2019    66
TABLE 18    FACTS MARKET FOR VOLTAGE CONTROL, BY REGION, 2016–2019
(USD MILLION)    67
TABLE 19    FACTS MARKET FOR VOLTAGE CONTROL, BY REGION, 2020–2025
(USD MILLION)    67
9.3    POWER CONTROL    67
9.3.1    AMERICAS HELD LARGEST SHARE OF POWER CONTROL MARKET IN 2019    67
TABLE 20    FACTS MARKET FOR POWER CONTROL, BY REGION, 2016–2019
(USD THOUSAND)    67
TABLE 21    FACTS MARKET FOR POWER CONTROL, BY REGION, 2020–2025
(USD THOUSAND)    68
TABLE 22    FACTS MARKET FOR POWER CONTROL IN AMERICAS, BY REGION,
2016–2019 (USD MILLION)    68
TABLE 23    FACTS MARKET FOR POWER CONTROL IN AMERICAS, BY REGION,
2020–2025 (USD MILLION)    68
FIGURE 24    PRE- AND POST-COVID-19 ANALYSIS OF FACTS MARKET FOR VOLTAGE CONTROL, 2020–2025 (USD MILLION    69
9.4    IMPACT OF COVID-19 ON APPLICATIONS    69
10    FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY VERTICAL    70
10.1    INTRODUCTION    71
TABLE 24    FACTS MARKET, BY VERTICAL, 2016–2019 (USD MILLION)    71
TABLE 25    FACTS MARKET, BY VERTICAL, 2020–2025 (USD MILLION)    71
10.2    UTILITIES    71
10.2.1    UTILITIES TO DOMINATE FACTS MARKET IN COMING YEARS    71
TABLE 26    FACTS MARKET FOR UTILITIES, BY REGION, 2016–2019 (USD MILLION)    72
TABLE 27    FACTS MARKET FOR UTILITIES, BY REGION, 2020–2025 (USD MILLION)    72
10.3    RENEWABLES    72
10.3.1    MARKET FOR RENEWABLES TO REGISTER HIGHEST CAGR    72
TABLE 28    FACTS MARKET FOR RENEWABLES, BY REGION, 2016–2019
(USD THOUSAND)    73
TABLE 29    FACTS MARKET FOR RENEWABLES, BY REGION, 2020–2025
(USD THOUSAND)    73

10.4    INDUSTRIAL    73
10.4.1    INCREASING NEED FOR POWER QUALITY AND STABILITY IS
BOOSTING DEMAND FOR FACTS IN INDUSTRIAL VERTICAL    73
TABLE 30    FACTS MARKET FOR INDUSTRIAL, BY REGION, 2016–2019 (USD THOUSAND)    74
TABLE 31    FACTS MARKET FOR INDUSTRIAL, BY REGION, 2020–2025 (USD THOUSAND)    74
10.5    RAILWAYS    75
10.5.1    APAC HELD LARGEST SHARE OF THE MARKET FOR RAILWAYS IN 2019    75
TABLE 32    FACTS MARKET FOR RAILWAYS, BY REGION, 2016–2019 (USD THOUSAND)    75
TABLE 33    FACTS MARKET FOR RAILWAYS, BY REGION, 2020–2025 (USD THOUSAND)    75
FIGURE 25    PRE- AND POST-COVID-19 ANALYSIS OF FACTS MARKET FOR UTILITIES, 2020–2025 (USD MILLION)    76
10.6    IMPACT OF COVID-19 ON VERTICALS OF THE MARKET    76
11    FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GENERATION TYPE    77
11.1    INTRODUCTION    78
TABLE 34    FACTS MARKET, BY GENERATION TYPE, 2016–2019 (USD MILLION)    78
TABLE 35    FACTS MARKET, BY GENERATION TYPE, 2020–2025 (USD MILLION)    78
11.2    FIRST GENERATION    78
11.2.1    SVC AND SERIES COMPENSATION ARE FIRST GENERATION FACTS DEVICES    78
TABLE 36    FACTS MARKET FOR FIRST GENERATION TYPE, BY REGION, 2016–2019
(USD MILLION)    79
TABLE 37    FACTS MARKET FOR FIRST GENERATION TYPE, BY REGION, 2020–2025
(USD MILLION)    79
11.3    SECOND GENERATION    79
11.3.1    EUROPE ACCOUNTED LARGEST SHARE FOR SECOND GENERATION FACTS DEVICES    79
TABLE 38    FACTS MARKET FOR SECOND GENERATION TYPE, BY REGION, 2016–2019 (USD MILLION)    80
TABLE 39    FACTS MARKET FOR SECOND GENERATION TYPE, BY REGION, 2020–2025 (USD MILLION)    80
FIGURE 26    PRE- AND POST-COVID-19 ANALYSIS OF FACTS MARKET FOR SECOND GENERATION TYPE, 2020–2025 (USD MILLION)    81
11.4    IMPACT OF COVID-19 ON GENERATION TYPES    81
12    GEOGRAPHIC ANALYSIS    82
12.1    INTRODUCTION    83
FIGURE 27    FACTS MARKET IN INDIA TO REGISTER HIGHEST CAGR
DURING FORECAST PERIOD    83
TABLE 40    FACTS MARKET, BY REGION, 2016–2019 (USD MILLION)    83
TABLE 41    FACTS MARKET, BY REGION, 2020–2025 (USD MILLION)    84
12.2    AMERICAS    84
FIGURE 28    AMERICAS: SNAPSHOT OF FACTS MARKET    85
TABLE 42    FACTS MARKET IN AMERICAS, BY REGION, 2016–2019 (USD MILLION)    85
TABLE 43    FACTS MARKET IN AMERICAS, BY REGION, 2020–2025 (USD MILLION)    85
TABLE 44    FACTS MARKET IN AMERICAS, BY COMPENSATION TYPE, 2016–2019
(USD THOUSAND)    86
TABLE 45    FACTS MARKET IN AMERICAS, BY COMPENSATION TYPE, 2020–2025
(USD THOUSAND)    86
TABLE 46    FACTS MARKET IN AMERICAS, BY SHUNT COMPENSATION, 2016–2019
(USD MILLION)    86
TABLE 47    FACTS MARKET IN AMERICAS, BY SHUNT COMPENSATION, 2020–2025
(USD MILLION)    86
TABLE 48    FACTS MARKET IN AMERICAS, BY GENERATION TYPE, 2016–2019
(USD MILLION)    86
TABLE 49    FACTS MARKET IN AMERICAS, BY GENERATION TYPE, 2020–2025
(USD MILLION)    87
TABLE 50    FACTS MARKET IN AMERICAS, BY VERTICAL, 2016–2019 (USD THOUSAND)    87
TABLE 51    FACTS MARKET IN AMERICAS, BY VERTICAL, 2020–2025 (USD THOUSAND)    87
TABLE 52    FACTS MARKET IN AMERICAS, BY APPLICATION, 2016–2019 (USD MILLION)    87
TABLE 53    FACTS MARKET IN AMERICAS, BY APPLICATION, 2020–2025 (USD MILLION)    88
12.2.1    NORTH AMERICA    88
TABLE 54    FACTS MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019
(USD MILLION)    88
TABLE 55    FACTS MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025
(USD MILLION)    88
TABLE 56    FACTS MARKET IN NORTH AMERICA, BY COMPENSATION TYPE, 2016–2019 (USD THOUSAND)    89
TABLE 57    FACTS MARKET IN NORTH AMERICA, BY COMPENSATION TYPE, 2020–2025 (USD THOUSAND)    89
TABLE 58    FACTS MARKET IN NORTH AMERICA, BY SHUNT COMPENSATION,
2016–2019 (USD MILLION)    89
TABLE 59    FACTS MARKET IN NORTH AMERICA, BY SHUNT COMPENSATION,
2020–2025 (USD MILLION)    89
TABLE 60    FACTS MARKET IN NORTH AMERICA, BY GENERATION TYPE, 2016–2019 (USD MILLION)    90
TABLE 61    FACTS MARKET IN NORTH AMERICA, BY GENERATION TYPE, 2020–2025 (USD MILLION)    90
TABLE 62    FACTS MARKET IN NORTH AMERICA, BY VERTICAL, 2016–2019
(USD THOUSAND)    90
TABLE 63    FACTS MARKET IN NORTH AMERICA, BY VERTICAL, 2020–2025
(USD THOUSAND)    90
TABLE 64    FACTS MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019
(USD MILLION)    91
TABLE 65    FACTS MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2025
(USD MILLION)    91
12.2.1.1    US    91
12.2.1.1.1    US is largest market for FACTS in North America    91
TABLE 66    FACTS MARKET IN US, BY SHUNT COMPENSATION, 2016–2019
(USD THOUSAND)    91
TABLE 67    FACTS MARKET IN US, BY SHUNT COMPENSATION, 2020–2025
(USD THOUSAND)    92
TABLE 68    FACTS MARKET IN US, BY APPLICATION, 2016–2019 (USD THOUSAND)    92
TABLE 69    FACTS MARKET IN US, BY APPLICATION, 2020–2025 (USD THOUSAND)    92
12.2.1.2    Rest of North America    92
TABLE 70    FACTS MARKET IN REST OF NORTH AMERICA, BY SHUNT COMPENSATION, 2016–2019 (USD THOUSAND)    92
TABLE 71    FACTS MARKET IN REST OF NORTH AMERICA, BY SHUNT COMPENSATION, 2020–2025 (USD THOUSAND)    93
TABLE 72    FACTS MARKET IN REST OF NORTH AMERICA, BY APPLICATION, 2016–2019 (USD THOUSAND)    93
TABLE 73    FACTS MARKET IN REST OF NORTH AMERICA, BY APPLICATION, 2020–2025 (USD THOUSAND)    93
12.2.2    SOUTH AMERICA    93
TABLE 74    FACTS MARKET IN SOUTH AMERICA, BY COUNTRY, 2016–2019
(USD MILLION)    93
TABLE 75    FACTS MARKET IN SOUTH AMERICA, BY COUNTRY, 2020–2025
(USD MILLION)    94
TABLE 76    FACTS MARKET IN SOUTH AMERICA, BY COMPENSATION TYPE, 2016–2019 (USD THOUSAND)    94
TABLE 77    FACTS MARKET IN SOUTH AMERICA, BY COMPENSATION TYPE, 2020–2025 (USD THOUSAND)    94
TABLE 78    FACTS MARKET IN SOUTH AMERICA, BY SHUNT COMPENSATION,
2016–2019 (USD MILLION)    94
TABLE 79    FACTS MARKET IN SOUTH AMERICA, BY SHUNT COMPENSATION,
2020–2025 (USD MILLION)    95
TABLE 80    FACTS MARKET IN SOUTH AMERICA, BY GENERATION TYPE, 2016–2019 (USD MILLION)    95
TABLE 81    FACTS MARKET IN SOUTH AMERICA, BY GENERATION TYPE, 2020–2025 (USD MILLION)    95
TABLE 82    FACTS MARKET IN SOUTH AMERICA, BY VERTICAL, 2016–2019
(USD THOUSAND)    95
TABLE 83    FACTS MARKET IN SOUTH AMERICA, BY VERTICAL, 2020–2025
(USD THOUSAND)    96
TABLE 84    FACTS MARKET IN SOUTH AMERICA, BY APPLICATION, 2016–2019
(USD MILLION)    96
TABLE 85    FACTS MARKET IN SOUTH AMERICA, BY APPLICATION, 2020–2025
(USD MILLION)    96
12.2.2.1    Brazil    96
12.2.2.1.1    Increase in investment for expansion of energy infrastructure drives FACTS markets in Brazil    96
TABLE 86    FACTS MARKET IN BRAZIL, BY SHUNT COMPENSATION, 2016–2019
(USD MILLION)    97
TABLE 87    FACTS MARKET IN BRAZIL, BY SHUNT COMPENSATION, 2020–2025
(USD MILLION)    97
TABLE 88    FACTS MARKET IN BRAZIL, BY APPLICATION, 2016–2019 (USD MILLION)    97
TABLE 89    FACTS MARKET IN BRAZIL, BY APPLICATION, 2020–2025 (USD MILLION)    97
12.2.2.2    Rest of South America    97
TABLE 90    FACTS MARKET IN REST OF SOUTH AMERICA, BY SHUNT COMPENSATION, 2016–2019 (USD THOUSAND)    98
TABLE 91    FACTS MARKET IN REST OF SOUTH AMERICA, BY SHUNT COMPENSATION, 2020–2025 (USD THOUSAND)    98
TABLE 92    FACTS MARKET IN REST OF SOUTH AMERICA, BY APPLICATION, 2016–2019 (USD THOUSAND)    98
TABLE 93    FACTS MARKET IN REST OF SOUTH AMERICA, BY APPLICATION, 2020–2025 (USD THOUSAND)    98
12.3    EUROPE    99
FIGURE 29    EUROPE: SNAPSHOT OF FACTS MARKET    99
TABLE 94    FACTS MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)    100
TABLE 95    FACTS MARKET IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)    100
TABLE 96    FACTS MARKET IN EUROPE, BY COMPENSATION TYPE, 2016–2019
(USD THOUSAND)    100
TABLE 97    FACTS MARKET IN EUROPE, BY COMPENSATION TYPE, 2020–2025
(USD THOUSAND)    100
TABLE 98    FACTS MARKET IN EUROPE, BY SHUNT COMPENSATION, 2016–2019
(USD MILLION)    101
TABLE 99    FACTS MARKET IN EUROPE, BY SHUNT COMPENSATION, 2020–2025
(USD MILLION)    101
TABLE 100    FACTS MARKET IN EUROPE, BY GENERATION TYPE, 2016–2019
(USD MILLION)    101
TABLE 101    FACTS MARKET IN EUROPE, BY GENERATION TYPE, 2020–2025
(USD MILLION)    101
TABLE 102    FACTS MARKET IN EUROPE, BY VERTICAL, 2016–2019 (USD THOUSAND)    101
TABLE 103    FACTS MARKET IN EUROPE, BY VERTICAL, 2020–2025 (USD THOUSAND)    102
TABLE 104    FACTS MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)    102
TABLE 105    FACTS MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION)    102
12.3.1    UK    103
12.3.1.1    UK is the major consumer of FACTS in Europe    103
TABLE 106    FACTS MARKET IN UK, BY SHUNT COMPENSATION, 2016–2019
(USD THOUSAND)    103
TABLE 107    FACTS MARKET IN UK, BY SHUNT COMPENSATION, 2020–2025
(USD THOUSAND)    103
TABLE 108    FACTS MARKET IN UK, BY APPLICATION, 2016–2019 (USD THOUSAND)    103
TABLE 109    FACTS MARKET IN UK, BY APPLICATION, 2020–2025 (USD THOUSAND)    103
12.3.2    GERMANY    104
12.3.2.1    Facts markets in Germany to register highest CAGR
during forecast period    104
TABLE 110    FACTS MARKET IN GERMANY, BY SHUNT COMPENSATION, 2016–2019
(USD MILLION)    104
TABLE 111    FACTS MARKET IN GERMANY, BY SHUNT COMPENSATION, 2020–2025
(USD MILLION)    104
TABLE 112    FACTS MARKET IN GERMANY, BY APPLICATION, 2016–2019 (USD MILLION)    104
TABLE 113    FACTS MARKET IN GERMANY, BY APPLICATION, 2020–2025 (USD MILLION)    104
12.3.3    FRANCE    105
12.3.3.1    Smart grid infrastructure to drive facts market in France    105
TABLE 114    FACTS MARKET IN FRANCE, BY SHUNT COMPENSATION, 2016–2019
(USD THOUSAND)    105
TABLE 115    FACTS MARKET IN FRANCE, BY SHUNT COMPENSATION, 2020–2025
(USD THOUSAND)    105
TABLE 116    FACTS MARKET IN FRANCE, BY APPLICATION, 2016–2019 (USD THOUSAND)    105
TABLE 117    FACTS MARKET IN FRANCE, BY APPLICATION, 2020–2025 (USD THOUSAND)    105
12.3.4    REST OF EUROPE    106
TABLE 118    FACTS MARKET IN REST OF EUROPE, BY SHUNT COMPENSATION,
2016–2019 (USD MILLION)    106
TABLE 119    FACTS MARKET IN REST OF EUROPE, BY SHUNT COMPENSATION,
2020–2025 (USD MILLION)    106
TABLE 120    FACTS MARKET IN REST OF EUROPE, BY APPLICATION, 2016–2019
(USD MILLION)    106
TABLE 121    FACTS MARKET IN REST OF EUROPE, BY APPLICATION, 2020–2025
(USD MILLION)    106
12.4    APAC    107
FIGURE 30    APAC: SNAPSHOT OF FACTS MARKET    107
TABLE 122    FACTS MARKET IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)    108
TABLE 123    FACTS MARKET IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)    108
TABLE 124    FACTS MARKET IN APAC, BY COMPENSATION TYPE, 2016–2019
(USD MILLION)    108
TABLE 125    FACTS MARKET IN APAC, BY COMPENSATION TYPE, 2020–2025
(USD MILLION)    108
TABLE 126    FACTS MARKET IN APAC, BY SHUNT COMPENSATION, 2016–2019
(USD MILLION)    109
TABLE 127    FACTS MARKET IN APAC, BY SHUNT COMPENSATION, 2020–2025
(USD MILLION)    109
TABLE 128    FACTS MARKET IN APAC, BY GENERATION TYPE, 2016–2019 (USD MILLION)    109
TABLE 129    FACTS MARKET IN APAC, BY GENERATION TYPE, 2020–2025 (USD MILLION)    109
TABLE 130    FACTS MARKET IN APAC, BY VERTICAL, 2016–2019 (USD MILLION)    109
TABLE 131    FACTS MARKET IN APAC, BY VERTICAL, 2020–2025 (USD MILLION)    110
TABLE 132    FACTS MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION)    110
TABLE 133    FACTS MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION)    110
12.4.1    CHINA    111
12.4.1.1    China to hold largest share of facts market in APAC
during forecast period    111
TABLE 134    FACTS MARKET IN CHINA, BY SHUNT COMPENSATION, 2016–2019
(USD MILLION)    111
TABLE 135    FACTS MARKET IN CHINA, BY SHUNT COMPENSATION, 2020–2025
(USD MILLION)    111
TABLE 136    FACTS MARKET IN CHINA, BY APPLICATION, 2016–2019 (USD MILLION)    111
TABLE 137    FACTS MARKET IN CHINA, BY APPLICATION, 2020–2025 (USD MILLION)    111
12.4.2    INDIA    112
12.4.2.1    Government support for expansion of transmission network to drive facts market in India    112
TABLE 138    FACTS MARKET IN INDIA, BY SHUNT COMPENSATION, 2016–2019
(USD THOUSAND)    112
TABLE 139    FACTS MARKET IN INDIA, BY SHUNT COMPENSATION, 2020–2025
(USD THOUSAND)    112
TABLE 140    FACTS MARKET IN INDIA, BY APPLICATION, 2016–2019 (USD THOUSAND)    112
TABLE 141    FACTS MARKET IN INDIA, BY APPLICATION, 2020–2025 (USD THOUSAND)    112
12.4.3    SOUTH KOREA    113
12.4.3.1    Requirement for constructing new transmission lines drives facts market in South Korea    113
TABLE 142    FACTS MARKET IN SOUTH KOREA, BY SHUNT COMPENSATION, 2016–2019 (USD THOUSAND)    113
TABLE 143    FACTS MARKET IN SOUTH KOREA, BY SHUNT COMPENSATION, 2020–2025 (USD THOUSAND)    113
TABLE 144    FACTS MARKET IN SOUTH KOREA, BY APPLICATION, 2016–2019
(USD THOUSAND)    113
TABLE 145    FACTS MARKET IN SOUTH KOREA, BY APPLICATION, 2020–2025
(USD THOUSAND)    113
12.4.4    REST OF APAC    114
TABLE 146    FACTS MARKET IN REST OF APAC, BY SHUNT COMPENSATION, 2016–2019 (USD THOUSAND)    114
TABLE 147    FACTS MARKET IN REST OF APAC, BY SHUNT COMPENSATION, 2020–2025 (USD THOUSAND)    114
TABLE 148    FACTS MARKET IN REST OF APAC, BY APPLICATION, 2016–2019
(USD MILLION)    114
TABLE 149    FACTS MARKET IN REST OF APAC, BY APPLICATION, 2020–2025
(USD MILLION)    114
12.5    ROW    115
TABLE 150    FACTS MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)    115
TABLE 151    FACTS MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION)    115
TABLE 152    FACTS MARKET IN ROW, BY COMPENSATION TYPE, 2016–2019
(USD THOUSAND)    115
TABLE 153    FACTS MARKET IN ROW, BY COMPENSATION TYPE, 2020–2025
(USD THOUSAND)    115
TABLE 154    FACTS MARKET IN ROW, BY SHUNT COMPENSATION, 2016–2019
(USD THOUSAND)    116
TABLE 155    FACTS MARKET IN ROW, BY SHUNT COMPENSATION, 2020–2025
(USD THOUSAND)    116
TABLE 156    FACTS MARKET IN ROW, BY GENERATION TYPE, 2016–2019 (USD MILLION)    116
TABLE 157    FACTS MARKET IN ROW, BY GENERATION TYPE, 2020–2025 (USD MILLION)    116
TABLE 158    FACTS MARKET IN ROW, BY VERTICAL, 2016–2019 (USD THOUSAND)    116
TABLE 159    FACTS MARKET IN ROW, BY VERTICAL, 2020–2025 (USD THOUSAND)    117
TABLE 160    FACTS MARKET IN ROW, BY APPLICATION, 2016–2019 (USD THOUSAND)    117
TABLE 161    FACTS MARKET IN ROW, BY APPLICATION, 2020–2025 (USD THOUSAND)    117
12.5.1    MIDDLE EAST    118
12.5.1.1    Growing number of oil & gas industries in the Middle East to drive FACTS market    118
TABLE 162    FACTS MARKET IN MIDDLE EAST, BY SHUNT COMPENSATION, 2016–2019 (USD THOUSAND)    118
TABLE 163    FACTS MARKET IN MIDDLE EAST, BY SHUNT COMPENSATION, 2020–2025 (USD THOUSAND)    118
TABLE 164    FACTS MARKET IN MIDDLE EAST, BY APPLICATION, 2016–2019
(USD THOUSAND)    118
TABLE 165    FACTS MARKET IN MIDDLE EAST, BY APPLICATION, 2020–2025
(USD THOUSAND)    118
12.5.2    AFRICA    119
12.5.2.1    Africa to hold larger share of FACTS market in RoW    119
TABLE 166    FACTS MARKET IN AFRICA, BY SHUNT COMPENSATION, 2016–2019
(USD THOUSAND)    119
TABLE 167    FACTS MARKET IN AFRICA, BY SHUNT COMPENSATION, 2020–2025
(USD THOUSAND)    119
TABLE 168    FACTS MARKET IN AFRICA, BY APPLICATION, 2016–2019 (USD THOUSAND)    119
TABLE 169    FACTS MARKET IN AFRICA, BY APPLICATION, 2020–2025 (USD THOUSAND)    119
12.6    COVID-19 IMPACT ON MAJOR REGIONS    120
FIGURE 31    PRE- VS. POST-COVID-19 COMPARISON FOR AMERICAS FACTS MARKET    120
FIGURE 32    PRE- VS. POST-COVID-19 COMPARISON FOR APAC FACTS MARKET    120
13    COMPETITIVE LANDSCAPE    122
13.1    OVERVIEW    122
FIGURE 33    PRODUCT DEVELOPMENTS KEY GROWTH STRATEGY FROM 2017 TO 2020    122
13.2    RANKING ANALYSIS OF KEY PLAYERS IN FLEXIBLE AC TRANSMISSION SYSTEM MARKET    123
FIGURE 34    FLEXIBLE AC TRANSMISSION SYSTEM MARKET: RANKING OF
KEY COMPANIES    123
13.3    COMPETITIVE SITUATIONS AND TRENDS    124
13.3.1    PRODUCT DEVELOPMENTS    124
TABLE 170    PRODUCT DEVELOPMENTS, 2017–2020    124
13.3.2    AGREEMENTS    125
TABLE 171    AGREEMENTS, 2018–2020    125
13.3.3    COLLABORATION    125
TABLE 172    COLLABORATION, 2018–2019    125
13.3.4    CONTRACTS    126
TABLE 173    CONTRACTS, 2017–2019    126
13.3.5    DIVESTMENTS    129
TABLE 174    DIVESTMENTS, 2018–2019    129
13.3.6    EXPANSION    129
TABLE 175    EXPANSION, 2018–2019    129
13.3.7    PARTNERSHIPS    130
TABLE 176    PARTNERSHIPS, 2018–2020    130
13.3.8    ACQUISITIONS    130
TABLE 177    ACQUISITIONS, 2018–2020    130
13.4    COMPETITIVE LEADERSHIP MAPPING, 2019    131
13.4.1    VISIONARY LEADERS    131
13.4.2    DYNAMIC DIFFERENTIATORS    131
13.4.3    INNOVATORS    131
13.4.4    EMERGING COMPANIES    131
FIGURE 35    FLEXIBLE AC TRANSMISSION SYSTEM MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019    132
14    COMPANY PROFILE    133
14.1    KEY PLAYERS    133
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View, and COVID-19 Update)*
14.1.1    ABB (HITACHI)    133
FIGURE 36    ABB: COMPANY SNAPSHOT    133
14.1.2    RONGXIN POWER ENGINEERING LTD (RXPE)    139
14.1.3    GENERAL ELECTRIC (GE)    141
FIGURE 37    GENERAL ELECTRIC: COMPANY SNAPSHOT    141
14.1.4    SIEMENS    145
FIGURE 38    SIEMENS: COMPANY SNAPSHOT    145
14.1.5    MITSUBISHI ELECTRIC    149
FIGURE 39    MITSUBISHI ELECTRIC: COMPANY SNAPSHOT    149
14.1.6    AMERICAN SUPERCONDUCTOR    152
FIGURE 40    AMERICAN SUPERCONDUCTOR: COMPANY SNAPSHOT    152
14.1.7    INFINEON    155
FIGURE 41    INFINEON: COMPANY SNAPSHOT    155
14.1.8    NR ELECTRIC    157
14.1.9    HYOSUNG HEAVY INDUSTRIES    160
14.1.10    INGETEAM POWER TECHNOLOGY    162
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View, and COVID-19 Update might not be captured in case of unlisted companies.
14.2    RIGHT TO WIN    163
14.3    OTHER IMPORTANT PLAYERS    164
14.3.1    BHARAT HEAVY ELECTRICALS LIMITED (BHEL)    164
14.3.2    QUANTA TECHNOLOGY    164
14.3.3    COMSYS    165
14.3.4    MERUS POWER DYNAMICS OY    165
14.3.5    SIEYUAN ELECTRIC CO., LTD.    166
14.3.6    SIGNATORY PVT. LTD.    166
14.3.7    JEMA ENERGY SA    167
14.3.8    FREQCON GMBH    167
14.3.9    CLARIANT POWER SYSTEM LIMITED    168
14.3.10    BEIJING POWER EQUIPMENT GROUP CO LTD(BPEG)    168

15    ADJACENT MARKET: DIGITAL SUBSTATION MARKET    169
15.1    MARKET DEFINITION    169
15.1.1    INCLUSIONS AND EXCLUSIONS    169
TABLE 178    DIGITAL SUBSTATION MARKET, BY MODULE, 2017–2025 (USD MILLION)    169
TABLE 179    DIGITAL SUBSTATION MARKET FOR HARDWARE, BY TYPE, 2017–2025
(USD MILLION)    170
TABLE 180    DIGITAL SUBSTATION MARKET, BY TYPE, 2017–2025 (USD BILLION)    170
TABLE 181    DIGITAL SUBSTATION MARKET, BY INSTALLATION TYPE, 2017–2025
(USD BILLION)    171
TABLE 182    DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2017–2025 (USD MILLION)    171
TABLE 183    DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2017–2025 (USD MILLION)    172
TABLE 184    DIGITAL SUBSTATION MARKET, BY REGION, 2017–2025 (USD BILLION)    172
16    APPENDIX    173
16.1    INSIGHTS FROM INDUSTRY EXPERTS    173
16.2    DISCUSSION GUIDE    174
16.3    KNOWLEDGE STORE    177
16.4    AVAILABLE CUSTOMIZATIONS    179
16.5    RELATED REPORTS    179
16.6    AUTHOR DETAILS    180