Allied Market Research published a report on the Flexible AC Transmission System Market by Compensation Type (Series compensation, Shunt compensation, Combined series-shunt Compensation ), by Controller (Static Synchronous Compensator (STATCOM), Static VAR Compensator (SVC), Unified Power Flow Controller (UPFC), Thyristor Controlled Series Compensator (TCSC), Others), by Industry Vertical (Oil and Gas, Electric Utility, Railways, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The global flexible ac transmission system market was valued at $1.2 billion in 2022, and is projected to reach $2.3 billion by 2032, growing at a CAGR of 7% from 2023 to 2032.
Download Research Report Sample: https://www.alliedmarketresearch.com/request-sample/810
The purpose of FACTS is to enhance the control and flexibility of AC (alternating current) power flow. These devices are strategically placed in the power grid to regulate voltage, stabilize power flow, and increase the transmission capacity of lines. By actively manipulating key parameters, such as voltage, impedance, and phase angle, FACTS devices optimize power transmission, mitigate issues like voltage fluctuations and line congestion, and improve overall system stability and efficiency.
Some common types of FACTS devices include:
- Static var compensator (SVC): SVC devices are used to regulate and control the reactive power in a power system, thereby stabilizing voltage levels and supporting voltage control for flexible AC transmission line and flexible AC transmission system devices.
- Static synchronous compensator (STATCOM): STATCOM devices provide fast-reacting reactive power support to maintain voltage stability, improve power quality, and enhance the transient response of the system.
- Unified power flow controller (UPFC): UPFC devices offer simultaneous control of active and reactive power flow in transmission lines, allowing for enhanced power transfer capability and improved voltage regulation.
- Thyristor-controlled series capacitor (TCSC): TCSC devices use variable series capacitors to adjust the line reactance, thereby improving system stability, damping power oscillations, and increasing transmission capacity.
The flexible ac transmission systems (FACTS) industry is expected to continue growing in the coming years, owing to increasing demand for electricity, grid modernization initiatives, integration of renewable energy sources, and focus on grid flexibility and reliability.
Inquiry before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/810
Competitive Analysis:
The flexible AC transmission system industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global flexible AC transmission system industry include,
- NR Electric Co., Ltd.
- Siemens
- Eaton Corporation
- Adani Power Ltd
- Alstom SA
- Mitsubishi Electric Corporation
- Hyosung Corporation.
- CG Power and Industrial Solutions Limited.
- General Electric
- ABB Ltd.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international flexible AC transmission system Market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
Share you’re Requirements & Get Customized Reports: https://www.alliedmarketresearch.com/request-for-customization/810
Key Benefits for Stakeholders:
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the flexible ac transmission system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
Contact Us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com