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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:12/3/2013

(PRWEB) December 03, 2013

According to the new market research report “Flexible AC Transmission System (FACTS) Market by Compensation (Shunt, Series, Combined), Component (Thyristors, Capacitor Banks, Reactors), Application, Industry Vertical (Electric Utilities, Steel, Mining), Global Forecast & Analysis (2013 - 2018),” the value of the FACTS market was $912.85 million in 2012 and is expected to reach $1,386.01 million in 2018, at an estimated CAGR of 7.23% from 2013 to 2018.

Browse 93 market data tables and 63 figures spread through 343 pages and in-depth TOC on “Flexible AC Transmission System (FACTS) Market
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Flexible AC Transmission System (FACTS) is defined as a technology which consists of power electronics and other static components to increase controllability and power transfer ability of a network. FACTS devices provide higher flexibility and increased power transfer capacity on a transmission line, in order to facilitate stable and reliable power supply.

The growing demand for superior quality power supply and network reliability in electric utilities and industrial applications has created numerous opportunities for advanced power electronics based systems such as FACTS. The increasing burden laid on the existing power transmission lines in order to fulfill the ever growing electricity demand, is another factor that drives the growth of FACTS devices. The incidences such as the Northeast blackout (2003) in North America, presented the crucial need for advance methods, such as FACTS, for voltage and power control, in order to avoid further blackouts and power failures. Several research and technological
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