The Europe Flexible AC Transmission System Market would witness market growth of 6.0% CAGR during the forecast period (2023-2030).
The regional adoption of FACTS technologies varies. Due to their well-established power infrastructure and grid modernization initiatives, developed economies have been early adopters of FACTS devices. Consequently, such market trends are observed in developing countries. Market participants are progressively forming strategic alliances and partnerships to improve their technological capabilities, widen their market reach, and provide integrated solutions. These collaborations seek to leverage the expertise of various value chain stakeholders and accelerate market expansion.
Population growth and urbanization have led to an increase in electricity demand, especially in emergent economies. This rise in electricity demand in emerging economies propels the market to expand. With population growth and urbanization expansion, the need for dependable and efficient power transmission is paramount. FACTS devices are essential to meeting this demand by optimizing power flow, enhancing grid stability, and increasing transmission capacity. Rapid urbanization and industrialization in emerging economies significantly strain the extant power infrastructure. The implementation of FACTS technologies permits utilities to enhance the effectiveness and dependability of their power transmission networks. By moderating voltage, managing power flow, and mitigating grid issues, FACTS devices contribute to tackling the challenges posed by rising electricity demand.
Europe heavily invests in renewable energy sources like wind and solar power. FACTS technologies can facilitate the integration of these intermittent energy sources by enhancing grid stability, managing voltage fluctuations, and optimizing power flow. Europe is moving toward a more decentralized energy grid, with increased use of distributed energy resources (DERs) and microgrids. FACTS devices can be crucial in managing power flows and maintaining grid stability in this evolving landscape. Europe actively pursues cross-border interconnection projects to promote energy sharing and grid stability across nations. FACTS technologies facilitate power exchange and help maintain grid reliability in interconnected systems. Electric vehicles (EVs) growth requires grid upgrades to support increased charging infrastructure. FACTS devices help regulate voltage and manage power flow, ensuring grid stability when renewable generation fluctuates. Thus, due to these factors, the regional market will expand.
The Germany market dominated the Europe Flexible AC Transmission System Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $131.8 Million by 2030. The UK market is exhibiting a CAGR of 5.1% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 6.8% during (2023 - 2030).
Based on Controller, the market is segmented into Static VAR Compensator (SVC), Static Synchronous Compensator (STATCOM), Unified Power, low Controller (UPFC), Thyristor Controlled Series Compensator (TCSC), and Others. Based on Vertical, the market is segmented into Electric Utility, Oil & Gas, Railways, and Others. Based on Compensation Type, the market is segmented into Series Compensation, Combined series-shunt Compensation, and Shunt Compensation. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Flexible AC Transmission System Market will Hit $1.8 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include ABB Group, Adani Power Limited, Alstom SA, CG Power and Industrial Solutions Limited, Eaton Corporation PLC, General Electric Company, Hyosung Corporation, Mitsubishi Electric Corporation, NR Electric Co., Ltd., Siemens AG.
Scope of the Study
Market Segments Covered in the Report:
By Controller
- Static VAR Compensator (SVC)
- Static Synchronous Compensator (STATCOM)
- Unified Power Flow Controller (UPFC)
- Thyristor Controlled Series Compensator (TCSC)
- Others
By Vertical
- Electric Utility
- Oil & Gas
- Railways
- Others
By Compensation Type
- Series Compensation
- Combined series-shunt Compensation
- Shunt Compensation
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Adani Power Limited
- Alstom SA
- CG Power and Industrial Solutions Limited.
- Eaton Corporation PLC
- General Electric Company
- Hyosung Corporation
- Mitsubishi Electric Corporation
- NR Electric Co., Ltd.
- Siemens AG
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Flexible AC Transmission System Market, by Controller
1.4.2 Europe Flexible AC Transmission System Market, by Vertical
1.4.3 Europe Flexible AC Transmission System Market, by Compensation Type
1.4.4 Europe Flexible AC Transmission System Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. Europe Flexible AC Transmission System Market, by Controller
4.1 Europe Static VAR Compensator (SVC) Market, by Country
4.2 Europe Static Synchronous Compensator (STATCOM) Market, by Country
4.3 Europe Unified Power Flow Controller (UPFC) Market, by Country
4.4 Europe Thyristor Controlled Series Compensator (TCSC) Market, by Country
4.5 Europe Others Market, by Country
Chapter 5. Europe Flexible AC Transmission System Market, by Vertical
5.1 Europe Electric Utility Market, by Country
5.2 Europe Oil & Gas Market, by Country
5.3 Europe Railways Market, by Country
5.4 Europe Others Market, by Country
Chapter 6. Europe Flexible AC Transmission System Market, by Compensation Type
6.1 Europe Series Compensation Market, by Country
6.2 Europe Combined series-shunt Compensation Market, by Country
6.3 Europe Shunt Compensation Market, by Country
Chapter 7. Europe Flexible AC Transmission System Market, by Country
7.1 Germany Flexible AC Transmission System Market
7.1.1 Germany Flexible AC Transmission System Market, by Controller
7.1.2 Germany Flexible AC Transmission System Market, by Vertical
7.1.3 Germany Flexible AC Transmission System Market, by Compensation Type
7.2 UK Flexible AC Transmission System Market
7.2.1 UK Flexible AC Transmission System Market, by Controller
7.2.2 UK Flexible AC Transmission System Market, by Vertical
7.2.3 UK Flexible AC Transmission System Market, by Compensation Type
7.3 France Flexible AC Transmission System Market
7.3.1 France Flexible AC Transmission System Market, by Controller
7.3.2 France Flexible AC Transmission System Market, by Vertical
7.3.3 France Flexible AC Transmission System Market, by Compensation Type
7.4 Russia Flexible AC Transmission System Market
7.4.1 Russia Flexible AC Transmission System Market, by Controller
7.4.2 Russia Flexible AC Transmission System Market, by Vertical
7.4.3 Russia Flexible AC Transmission System Market, by Compensation Type
7.5 Spain Flexible AC Transmission System Market
7.5.1 Spain Flexible AC Transmission System Market, by Controller
7.5.2 Spain Flexible AC Transmission System Market, by Vertical
7.5.3 Spain Flexible AC Transmission System Market, by Compensation Type
7.6 Italy Flexible AC Transmission System Market
7.6.1 Italy Flexible AC Transmission System Market, by Controller
7.6.2 Italy Flexible AC Transmission System Market, by Vertical
7.6.3 Italy Flexible AC Transmission System Market, by Compensation Type
7.7 Rest of Europe Flexible AC Transmission System Market
7.7.1 Rest of Europe Flexible AC Transmission System Market, by Controller
7.7.2 Rest of Europe Flexible AC Transmission System Market, by Vertical
7.7.3 Rest of Europe Flexible AC Transmission System Market, by Compensation Type
Chapter 8. Company Profiles
8.1 ABB Group
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 SWOT Analysis
8.2 Adani Power Limited
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 Alstom SA
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 SWOT Analysis
8.4 CG Power & Industrial Solutions Ltd. (Murugappa Group)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 SWOT Analysis
8.5 Eaton Corporation PLC
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 SWOT Analysis
8.6 General Electric Company
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Product Launches and Product Expansions:
8.6.6 SWOT Analysis
8.7 Hyosung Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Research & Development Expenses
8.7.4 SWOT Analysis
8.8 Mitsubishi Electric Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Product Launches and Product Expansions:
8.8.6 SWOT Analysis
8.9 NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
8.9.1 Company Overview
8.9.2 SWOT Analysis
8.10. Siemens AG
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Acquisition and Mergers:
8.10.6 SWOT Analysis
TABLE 1 Europe Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 2 Europe Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 3 Europe Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 4 Europe Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 5 Europe Static VAR Compensator (SVC) Market, by Country, 2019 - 2022, USD Million
TABLE 6 Europe Static VAR Compensator (SVC) Market, by Country, 2023 - 2030, USD Million
TABLE 7 Europe Static Synchronous Compensator (STATCOM) Market, by Country, 2019 - 2022, USD Million
TABLE 8 Europe Static Synchronous Compensator (STATCOM) Market, by Country, 2023 - 2030, USD Million
TABLE 9 Europe Unified Power Flow Controller (UPFC) Market, by Country, 2019 - 2022, USD Million
TABLE 10 Europe Unified Power Flow Controller (UPFC) Market, by Country, 2023 - 2030, USD Million
TABLE 11 Europe Thyristor Controlled Series Compensator (TCSC) Market, by Country, 2019 - 2022, USD Million
TABLE 12 Europe Thyristor Controlled Series Compensator (TCSC) Market, by Country, 2023 - 2030, USD Million
TABLE 13 Europe Others Market, by Country, 2019 - 2022, USD Million
TABLE 14 Europe Others Market, by Country, 2023 - 2030, USD Million
TABLE 15 Europe Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 16 Europe Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 17 Europe Electric Utility Market, by Country, 2019 - 2022, USD Million
TABLE 18 Europe Electric Utility Market, by Country, 2023 - 2030, USD Million
TABLE 19 Europe Oil & Gas Market, by Country, 2019 - 2022, USD Million
TABLE 20 Europe Oil & Gas Market, by Country, 2023 - 2030, USD Million
TABLE 21 Europe Railways Market, by Country, 2019 - 2022, USD Million
TABLE 22 Europe Railways Market, by Country, 2023 - 2030, USD Million
TABLE 23 Europe Others Market, by Country, 2019 - 2022, USD Million
TABLE 24 Europe Others Market, by Country, 2023 - 2030, USD Million
TABLE 25 Europe Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 26 Europe Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 27 Europe Series Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 28 Europe Series Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 29 Europe Combined series-shunt Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 30 Europe Combined series-shunt Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 31 Europe Shunt Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 32 Europe Shunt Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 33 Europe Flexible AC Transmission System Market, by Country, 2019 - 2022, USD Million
TABLE 34 Europe Flexible AC Transmission System Market, by Country, 2023 - 2030, USD Million
TABLE 35 Germany Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 36 Germany Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 37 Germany Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 38 Germany Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 39 Germany Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 40 Germany Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 41 Germany Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 42 Germany Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 43 UK Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 44 UK Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 45 UK Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 46 UK Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 47 UK Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 48 UK Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 49 UK Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 50 UK Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 51 France Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 52 France Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 53 France Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 54 France Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 55 France Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 56 France Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 57 France Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 58 France Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 59 Russia Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 60 Russia Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 61 Russia Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 62 Russia Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 63 Russia Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 64 Russia Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 65 Russia Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 66 Russia Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 67 Spain Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 68 Spain Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 69 Spain Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 70 Spain Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 71 Spain Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 72 Spain Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 73 Spain Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 74 Spain Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 75 Italy Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 76 Italy Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 77 Italy Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 78 Italy Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 79 Italy Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 80 Italy Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 81 Italy Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 82 Italy Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 83 Rest of Europe Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 84 Rest of Europe Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 85 Rest of Europe Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 86 Rest of Europe Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 87 Rest of Europe Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 88 Rest of Europe Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 89 Rest of Europe Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 90 Rest of Europe Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 91 Key Information – ABB Group
TABLE 92 Key Information – Adani Power Limited
TABLE 93 Key Information – aLSTOM SA
TABLE 94 Key Information – CG Power & Industrial Solutions Ltd.
TABLE 95 key information – Eaton Corporation PLC
TABLE 96 Key Information – General Electric Company
TABLE 97 Key Information – HYOSUNG Corporation
TABLE 98 key information – Mitsubishi Electric Corporation
TABLE 99 Key information – NR Electric Co., Ltd.
TABLE 100 Key Information – Siemens AG
List of Figures
FIG 1 Methodology for the research
FIG 2 Europe Flexible AC Transmission System Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Flexible AC Transmission System Market
FIG 4 Porter’s Five Forces Analysis - Flexible AC Transmission System Market
FIG 5 Europe Flexible AC Transmission System Market share, by Controller, 2022
FIG 6 Europe Flexible AC Transmission System Market share, by Controller, 2030
FIG 7 Europe Flexible AC Transmission System Market, by Controller, 2019 - 2030, USD Million
FIG 8 Europe Flexible AC Transmission System Market share, by Vertical, 2022
FIG 9 Europe Flexible AC Transmission System Market share, by Vertical, 2030
FIG 10 Europe Flexible AC Transmission System Market, by Vertical, 2019- 2030, USD Million
FIG 11 Europe Flexible AC Transmission System Market share, by Compensation Type, 2022
FIG 12 Europe Flexible AC Transmission System Market share, by Compensation Type, 2030
FIG 13 Europe Flexible AC Transmission System Market, by Compensation Type, 2019 - 2030, USD Million
FIG 14 Europe Flexible AC Transmission System Market share, by Country, 2022
FIG 15 Europe Flexible AC Transmission System Market share, by Country, 2030
FIG 16 Europe Flexible AC Transmission System Market, by Country, 2019 - 2030, USD Million
FIG 17 SWOT Analysis: ABB Group
FIG 18 SWOT Analysis: Adani Power Limited
FIG 19 SWOT Analysis: Alstom SA
FIG 20 SWOT Analysis: CG Power & Industrial Solutions Ltd.
FIG 21 SWOT Analysis: Eaton Corporation PLC
FIG 22 SWOT Analysis: General electric (GE) Co.
FIG 23 SWOT Analysis: Hyosung Corporation
FIG 24 SWOT Analysis: Mitsubishi Electric Corporation
FIG 25 SWOT Analysis: NR Electric Co., Ltd.
FIG 26 SWOT Analysis: Siemens AG