Global Flexible AC Transmission Systems market is valued approximately USD 1.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.4 % over the forecast period 2020-2027. Flexible AC transmission system provides dynamic support for reactive power, improves system reliability, and actual and reactive power controls. This ensures smooth machine operation and increases device efficiency. The Flexible AC Transmission Systems market is driven by the growing benefits offered by the FACTS market, growth in transmission lines, increased usage of renewable energy in power grids, and increased demand for STATCOM voltage control devices. Global transmission investment spending is gradually growing, from 82 billion USD in 2016 to 87 billion USD in 2018. Renewable energy generation and large-scale interconnection projects are responsible for this rise. In addition, investments in long-distance and large-capacity transmission lines accounted for approximately USD 45 billion of the 2017 transmission budget. The initial costs of installing FACTS are relatively high, hence most industries and utility players are reluctant to implement this technology. The comparatively high initial cost expenditure over its counterparts serves as a constraint in the worldwide dissemination of FACTS. However, the high initial implementation costs are expected to restrict demand growth over the forecast period

The regional analysis of Flexible AC Transmission Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Growth in transmission lines, growing utilization of renewable energy into power grids, Rising demand for STATCOM devices for voltage control. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the market is projected to report the highest CAGE over the forecast period, owing to increased government spending on smart grids building and increased investment in electricity generation through renewable energy resources. Furthermore, investments are planned in high-speed trains from developing countries expected to offer lucrative opportunities for Flexible AC Transmission System market across Asia-Pacific region.

Major market player included in this report are:
ABB (Hitachi)
Rongxin Power Engineering Ltd (RXPE)
SIEMENS
General Electric (GE)
Mitsubishi Electric
American Superconductor
Infineon
NR Electric
Hyosung Heavy Industries
Ingeteam Power Technology

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Compensation Type:
Shunt Compensation
Series Compensation
Combined Compensation
By Application:
Voltage Control
Power Control

By Vertical:
Utilities
Renewables
Industrial
Railways

By Generation Type:
First Generation
Second Generation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Flexible AC Transmission Systems market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors