Global Flexible AC Transmission System Market

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Global Flexible AC Transmission System Market was valued US$ 1120.1 Mn in 2019 and is expected to reach US$ 1900.5 Mn by 2027 at a CAGR of 6.83 % during the forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

 

Advancement of electric power transmission system and increases in demand for controllability drives the global flexible AC transmission system market. Also need of high reliability under emergencies of power supply boost the flexible AC transmission system market. However, high initial cost of installation of flexible AC transmission system is limiting the market growth. Emergence of smart grids & increase in dependency on renewable energy resources offer beneficial opportunities for market expansion.

In controller, (Static Var Compensator) SVC accounts for largest share in global flexible AC current transmission systems market. Voltage stabilization and lagging power factor of SVC controller is better than the other controllers. This leads the controller segment from global flexible AC transmission.

Among the industry verticals, electric utilities expected for the largest share of Flexible AC Transmission System market during forecast period. In power transmission or distribution plant rising demand of Flexible AC Transmission System, Owing this electric utilities helps to boost the global market of Flexible AC Transmission System market.

The Asia Pacific regional market is expected to lead the Flexible transmission system market on account of increased demand for power transmission solution, voltage and power infrastructure in countries such as India and China. North America regional market led the global industry in the past acquiring a significant share of the Flexible AC Transmission System market. Expanding replacement and developments of the existing power infrastructures, along with integrating renewable sources in the power grids, in developed economies such as North America and Europe is expected to drive the regional flexible AC transmission market over the next few years. Middle East and Africa are expected to gain traction owing to slow adoption of flexible AC transmission system across industry verticals like manufacturing, railways, and renewable energy industries.

Key companies in the global flexible AC transmission system market include ABB Group, Adani Power Ltd., American Electric Power, Alstom, Siemens AG, Xian Electric Engineering Co. Ltd., and Toshiba Corp. Eaton Corporation recently acquired electrical equipment supplier Cooper Industries to form a new premier global power Management Company aimed at easier entry into the power infrastructure sector. The industry has been witnessing wide-ranging mergers and acquisitions to make their mark in the market.

The report features a competitive scenario of the flexible AC transmission system market and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are ABB Ltd, Adani power, Alstom, Crompton & Greaves, Eaton PLC, General Electric, Hyosung, Mitsubishi Electric Corporation, NR Electric Co. Ltd, and Siemens AG. These players have adopted competitive strategies like innovation, new product development, and market expansion to boost the growth of the global market.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, power rate, application and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Flexible AC Transmission System market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.

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Scope of Global Flexible AC Transmission System Market

Global Flexible AC Transmission System Market, By Compensation Type

• Series Compensation,
• Shunt Compensation
• Combined Series-Shunt Compensation
Global Flexible AC Transmission System Market, By Controller

• Static Synchronous Compensator (STATCOM)
• Static Var Compensator (SVC)
• Unified Power Flow Controllers (UPFC)
• Thyristor Controlled Series Compensator (TCSC)
• Others
Global Flexible AC Transmission System Market, By Industry Vertical

• Oil & Gas
• Electric Utility
• Railways
• Others
Global Flexible AC Transmission System Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Flexible AC Transmission System Market

• ABB Ltd
• Mitsubishi Electric Corporation
• Eaton Corporation PLC
• American Electric Power
• Adani Power
• Siemens AG
• Eaton Corporation PLC
• American Electric Power
• NR Electric Co. Ltd.
• Alstom
• Xian Electric Engineering Co. Ltd.
• Toshiba Corp.

This Report Is Submitted By : Maximize Market Research Company

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