Flexible AC transmission system is a power electronic device-enabled AC transmission system capable of transferring electricity with regulated power flows in transmission routes, securing loading of transmission lines nearer to their thermal limits, and providing higher system stability. Power electronics-based and other static controllers boost power transfer capability by managing active and reactive power supply or absorption.

The growth of the global flexible AC transmission system market is driven by high requirement for advanced electric power transmission systems, increase in demand for voltage & power control solutions, and growth in need of reliable power systems under contingencies. However, high initial cost of infrastructure and restoration of traditional plants are expected to restrict the market growth. Conversely, the emerging smart grid solutions are expected to provide potential growth opportunities for the market.

The report segments the flexible AC transmission system market on the basis of compensation type, controller, industry vertical, and geography. Based on compensation type, it is divided into series compensation, shunt compensation, and combined series & shunt compensation. Based on controller, it is segmented into STATCOM, SVC, UPFC, TCSC, and others. On the basis of industry vertical, it is fragmented into oil & gas, electric utilities, railways, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the flexible AC transmission system market are General Electric, Siemens AG, ABB Ltd., Mitsubishi Electric Corporation, NR Electric Co., Ltd., Hyosung, ALSTOM, Crompton Greaves, Eaton Corporation PLC, and Adani Power.

KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current & emerging market trends and dynamics in the global flexible AC transmission system market to identify the prevailing market opportunities.
In-depth analysis is performed by constructing market estimations for key segments between 2016 and 2023.
Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.

KEY MARKET SEGMENTS

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 & Gas
Electric Utilities
Railways
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa