Global Flexible AC Current Transmission System Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Compensation Type;

Series compensation, Shunt compensation, and Combined series-shunt compensation.

By Controller;

Static Synchronous Compensator (STATCOM), Static VAR Compensator (SVC), Unified Power Flow Controller (UPFC), Thyristor Controlled Series Compensator (TCSC), and Others.

By Industry Vertical;

Oil & Gas, Electric Utility, Railways, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn492859988 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Flexible AC Current Transmission System Market (USD Million), 2021 - 2031

In the year 2024, the Global Flexible AC Current Transmission System Market was valued at USD 1,245.00 million. The size of this market is expected to increase to USD 2,228.11 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.7%.

The Global Flexible AC Current Transmission System (FACTS) Market is a dynamic and evolving sector within the broader electrical power transmission and distribution industry. FACTS technologies play a crucial role in enhancing the efficiency, reliability, and stability of AC power systems, enabling utilities and grid operators to address challenges associated with increasing demand, renewable energy integration, and grid congestion.

FACTS systems are designed to control and optimize the flow of electric power in AC transmission networks, mitigating voltage fluctuations, reducing line losses, and improving power transfer capability. These systems employ advanced power electronics and control algorithms to dynamically regulate voltage, reactive power, and impedance characteristics of transmission lines, substation equipment, and interconnected grids.

The growing demand for reliable and high-quality electricity, coupled with the increasing penetration of renewable energy sources such as wind and solar, has driven the adoption of FACTS technologies worldwide. By enhancing grid stability and flexibility, FACTS systems facilitate the integration of renewable energy resources and support the transition towards a more sustainable and resilient power infrastructure.

Factors such as rapid urbanization, industrialization, and electrification in emerging economies are driving investments in grid modernization and expansion projects, fueling the demand for FACTS solutions. Governments and utilities are increasingly focusing on upgrading existing transmission infrastructure and deploying advanced grid control technologies to improve power system performance and meet growing energy demand.

The market encompasses a wide range of FACTS technologies, including static VAR compensators (SVCs), static synchronous compensators (STATCOMs), thyristor-controlled series compensators (TCSCs), and unified power flow controllers (UPFCs), among others. These technologies offer diverse capabilities and functionalities tailored to address specific grid operational challenges and requirements.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Compensation Type
    2. Market Snapshot, By Controller
    3. Market Snapshot, By Industry Vertical
    4. Market Snapshot, By Region
  4. Global Flexible AC Current Transmission System Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Grid Modernization Initiatives
        2. Renewable Energy Integration
        3. Energy Demand Growth
        4. Infrastructure Development
        5. Increasing Grid Complexity
      2. Restraints
        1. Regulatory Hurdles
        2. Reliability Concerns
        3. Resource Constraints
        4. Interoperability Issues
      3. Opportunities
        1. Renewable Energy Expansion
        2. Grid Resilience and Security
        3. Partnerships and Collaborations
        4. Policy Support and Incentives
        5. Smart Grid Development
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Flexible AC Current Transmission System Market, By Compensation Type, 2021 - 2031 (USD Million)
      1. Series Compensation
      2. Shunt Compensation
      3. Combined Series-Shunt compensation
    2. Global Flexible AC Current Transmission System Market, By Controller, 2021 - 2031 (USD Million)
      1. Static Synchronous Compensator (STATCOM)
      2. Static VAR Compensator (SVC)
      3. Unified Power Flow Controller (UPFC)
      4. Thyristor Controlled Series Compensator (TCSC)
      5. Others
    3. Global Flexible AC Current Transmission System Market, By Industry Vertical, 2021 - 2031 (USD Million)
      1. Oil & Gas
      2. Electric Utility
      3. Railways
      4. Others
    4. Global Flexible AC Current Transmission System Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. ABB
      2. Cisco Systems, Inc.
      3. Eaton
      4. SIEMENS
      5. LARSEN & TOUBRO LIMITED
      6. Hyundai Motors
      7. Mitsubishi Electric Corporation
      8. Toshiba Corporation
      9. C&S Electric Limited
      10. Hitachi Ltd.
      11. Schneider Electric
      12. Tavrida Electric
      13. Fuji Electric Co. Ltd.
      14. Powell Industries
      15. Sensata Technologies Inc.
      16. ENTEC Electric and Electronic
  7. Analyst Views
  8. Future Outlook of the Market