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GIA announces the release of a comprehensive global report on Flexible AC Transmission Systems (FACTS) markets. Global market for FACTS is projected to reach US$1.3 billion by 2020, driven by the need to enhance quality of power transmission and reduce power losses over transmission lines.
San Jose, California (PRWEB) July 08, 2014
Follow us on LinkedIn. As a vital part of the energy supply chain, which helps in bulk transfer of high-voltage electrical energy, transmission networks play a crucial role in the electricity sector. AC Transmission networks involve interconnected high-voltage electrical lines that seamlessly transmit electrical energy from power plants to sub-stations. Presently several thousands of miles of high-voltage transmission lines are connected from generators to load centers across territories, regions, states, and countries. Ensuring optimum utilization of available transmission resources and enhancing reliability of high voltage AC power transfer over transmission lines with superior power transfer capability, high flexibility, low transmission losses, and better controllability of networks are of paramount importance for transmission network engineers. Flexible AC Transmission Systems (FACTS) that help meet the demand of modern transmission networks therefore are increasingly being deployed by power utilities.
Increase in electricity consumption worldwide is triggering a parallel rise in electricity generation and transmission capacity. Against this backdrop, power generation and transmission companies across the globe, both state-owned and private firms, are stepping up their electricity and transmission levels in order to meet surging energy demand. To meet growing electricity demand, most nations are looking beyond traditional power sources and focusing on generation and transmitting electricity from alternative energy resources. While most markets are expected to see the development of new traditional power plants powered by fossil fuels, few markets, particularly developed markets such as the United States and Europe are expected to see planned expansions in their existing power generation capacity and development of new renewable power generation facilities. This steady growth in power generation and transmission activity worldwide will help drive strong investments in electricity generation, transmission and distribution infrastructure, including FACTS. Capable of even integrating electricity generated from renewable power projects to the main grid, FACTS is expected to emerge as the biggest beneficiary of growing government focus on and support for renewable energy projects such as wind power, and solar.
As stated by the new market research report on Flexible AC Transmission Systems, Europe represents the largest regional market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.2 % over the analysis period. Surging demand for electricity driven by booming housing and industrial/commercial sectors and tremendous rise in manufacturing activities will continue to drive electricity demand and production, thereby boosting market prospects for FACTS in the region. Growing focus on rural electrification and subsequent increase in enhancing transmission networks will also help drive growth in the region. Fixed Compensation FACTS represents the largest market segment, while Variable Compensation FACTS ranks as the fastest growing market over the analysis period.
Major players covered in the report include ABB Ltd., Alstom SA, Crompton Greaves, Eaton Corporation, GE Energy, Hyosung Power & Industrial Systems, Mitsubishi Electric Power Products Inc., Rongxin Power Electronic Co. Ltd., S&C Electric Company, Siemens AG, and Toshiba Corporation, among others.
The research report titled Flexible AC Transmission Systems: A Global Strategic Business Report, announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the United States, Canada, Japan Europe (France, Germany, Italy, UK, Spain, Russia, Poland, Norway and Rest of Europe) , Asia-Pacific (Australia, China, India, Indonesia, Malaysia and Rest of Asia-Pacific), Middle East & Africa (Saudi Arabia, South Africa, UAE, Rest of Middle East/Africa) and Latin-America (Argentina, Brazil, Mexico, Venezuela and Rest of Latin America). Key Product segments analyzed include Variable Compensation and Fixed Compensation type FACTS. In US and Canadian markets, Variable Compensation Segment is further analyzed by following sub-segments and categories Variable Series Compensation (Thyristor Controlled Series Capacitor (TCSC) and Static Synchronous Series Compensator (SSSC)), Variable Shunt Compensation (Static Synchronous Compensator (STATCOM), Static Var Compensator (SVC) and Synchronous Condenser (SC)), and Variable Power Flow Controllers (Unified Power Flow Controller (UPFC), Unified Power Quality Controller (UPQC) and Phase Shifting Transformer (PST)). Fixed Compensation type FACTS market in US and Canada is further analyzed by Fixed Shunt Capacitors, Fixed Shunt Reactors and Fixed Series Capacitors.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Flexible_AC_Transmission_Systems_FACTS_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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