Shibuya-ku, Tokyo, Japan, Japan, Jun 22, 2022, 08:16 /Comserve / -- Flexible AC Transmission System Market Share with Top Countries Data, Industry Trends, Growth, Opportunities and Forecast to 2022-2031
According to a research dive analysis, the global display flexible AC transmission system market will exceed $ 641.2 million in 2019, reaching $ 1,229.6 million by the end of 2027, growing at a CAGR of 8.0%.
The new corona virus is expected to have a negative impact on the global flexible AC transmission system market in 2020. In an emergency, several government agencies were imposed to shut down almost all passenger transport facilities around the world, including railroads, to curb virus infections. For example, current evidence shows that in India, the rail sector is declining domestic revenues by about 65% due to lockdown. This factor has a significant impact on the modernization of the railway network and is projected to impact market growth in the event of an emergency. But lately, some governments have taken various initiatives to help businesses during the pandemic. For example, the Swiss government has announced a new support program for public and rail freight transport to support the country's transport sector. The government has also released about $ 830 million to modernize transportation infrastructure, including railroads. These aspects presume to people market growth during a pandemic.
The global flexible AC transmission system market is driven primarily by increased investment in transmission line modernization and increasing demand for advanced systems for power controllability. It is estimated that these factors will increase the demand for FACTS devices, which will play an important role in supporting system stability during fluctuations and maintaining voltage, and will drive market growth within the expected time. In addition, the increasing incorporation of FACTS into renewable energy power generation systems for grid modernization is projected to further boost market growth during the forecast period. However, installing advanced FACTS devices in existing infrastructure requires huge initial investment and is expected to limit market growth in the forecast year. The
global flexible AC transmission system market is a compensation type, controller.
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Based on the compensation type, the global market is segmented into a combination of series compensation, shunt compensation, and series shunt compensation . Of these, the Series Compensation subsegment retained the size of the global flexible AC transmission system market. It will generate more than $ 255.7 million in 2019 and is projected to account for $ 454.8 million in 2027. The combined series and shunt reward subsegment is estimated to grow at a healthy rate of CAGR 9.7%, accounting for $ 469.5 million in 2027.
Based on the controller, the global market is segmented into STATCOM, SVC, UPFC, TCSC and more. Of these, SVC controllers will have the largest revenue share in the global market in 2019 and are expected to reach up to $ 283.9 million by 2027. The UPFC subsegment will occupy the second highest market share in 2019 and is estimated to reach $ 209.8 million in 2027.
Based on industry verticals, the global market will be oil, gas and electricity. It is segmented into companies, railroads, etc. Of these, the utility subsegment holds the global market share in terms of revenue for the previous year and is expected to account for $ 269.9 million by 2027. The vertical industry of the oil and gas industry is estimated to grow significantly and generate $ 300 million in revenue in 2027.
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Geographical analysis shows that the global flexible AC transmission system market is North America, Europe and Asia Pacific. Was investigated in areas such as LAMEA. Of all regions, the North American region is expected to dominate the global market share and continue to grow steadily in the global market during the estimated period.
In addition to North America, the Asia Pacific market is expected to experience healthy growth and is estimated to register $ 202.4 million with a CAGR of 9.4% by the end of 2027. Major manufacturers are Adani Group, ABB, Alstom, Eaton, cgglobal.com, General Electric, Mitsubishi Electric, Hyosei, Siemens, NR Electric, etc.> <.
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