Flexible AC Transmission (FACT) Equipment market has seen swift growth in recent years. The swift growth is attributed to growing desire to effectively address transmission loss, voltage fluctuation and several other problems associated with the electricity transmission. The technical advances in Flexible AC equipments; including network reliability, reduced failure rate, and low maintenance cost have made them superior to fixed compensation equipments. Thus, growing demand for reliable network and quality power transmission has offered impetus to the growth of Flexible AC transmission Equipment market. In addition, with growing energy requirements, burden over ageing transmission lines and power infrastructures is expected to pave way for FACT equipments, driving the market forward. Such favorable trends are expected to drive the growth of the market at a steady rate over the forecast period 2013 -2019.
High manufacturing and installation costs of these Flexible AC Transmission equipments have restricted market penetration of these equipments. However, manufacturers have now started investing heavily in their research and development activities for developing low cost Flexible AC Transmission equipments. Apart from high cost, lack of awareness regarding the capabilities of these equipments, especially in developing economies has hampered the growth of this market. Government regulations across the globe promoting use of renewable energy sources for energy generation are expected to offer sound opportunity for FACT equipment manufacturers.
This market for flexible AC transmission (FACT) equipments is segmented on the basis of compensation type, components, end user and geography. The market is segmented on the basis of compensation type into two main categories namely, Fixed Compensation and Variable Compensation. The Flexible AC Transmission equipment market is further divided on the basis of components into thyristors; reactors, GIS switch gears, and phase shifting transformers among others. On the basis of end-use, the market is segmented into electric utilities, steel industry, and mining among others. At present, North America is the largest FACT equipment market. Over the forecast period, Asia Pacific and Europe are expected to be the fastest growing markets majorly owing to favorable government initiatives promoting reliable and quality power transmission.
Some of the key players in Flexible AC Transmission equipment market are Eaton Corporation, ABB Ltd, Mitsubishi Electric Power Products, AREVA T&D SA, GE Energy, S&C Electric Company, American Superconductor Corporation, Transmission and Distribution Group, VA Tech T&D, Square D, Siemens Power and Trench Group.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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