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Flexible AC Transmission System (FACTS) Market (Compensation, Component, Application, Industry Vertical) Worth $1,386.01 Million by 2018 - New Report by MarketsandMarkets
Date:9/4/2013

methods, such as FACTS, for voltage and power control, in order to avoid further blackouts and power failures. Several research and technological developments are being carried out in the field of power electronics, which further extends the application areas of FACTS equipment.

The FACTS market segmentation revolves around three major areas: compensation type, industry verticals, and geography. Each of these areas is further divided into individual sub-categories. This report also covers the major components used in FACTS devices; such as power electronic devices, thyristors, reactors, and capacitor banks, as well as the applications (steady state and dynamic applications).This report makes a note of the major devices such as Static Var Compensator (SVC), Static Synchronous Compensator (STATCOM), Fixed Series Capacitor (FSC), Thyristor Controlled Series Capacitor (TCSC), and Unified Power Flow Controller (UPFC). SVC is the most widely used FACTS device, and accounts for more than 90% of the overall shunt compensation (SVC and STATCOM) market revenue in 2013. Among all the FACTS devices, SVC is expected to be the market leader in the coming five years, also; whereas, the applications of UPFC will remain a niche.

The market is also segmented on the basis of industry verticals or end users that include electric utilities, steel industry, mining, and others (wind power, railways). Electric utilities accounts for the maximum market share in terms of the market revenue followed by steel industry and mining. The different factors such as environmental legislations, land availability issues, government regulatory norms in licensing & building of transmission lines, and integration of renewable sources in power grids, are expected to surge the demand of FACTS devices in diverse industry verticals such as wind farms and railways.

This report examines the ”Global Flexible AC Transmission System Market” from all the market aspects such as drivers, r
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