The North America Flexible AC Transmission System Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030).
The market is a growing and dynamic sector within the electrical power industry. FACTS technologies enhance AC power transmission systems' efficiency, reliability, and controllability. These systems help overcome traditional power transmission limitations, such as line losses, voltage stability issues, and system congestion. SVCs regulate voltage and improve power factors in AC transmission systems. These systems are designed to provide FACTS functionality at a distribution level, improving the reliability and efficiency of local power distribution.
The increasing necessity for electricity in emerging economies and the demand to transmit power over long distances necessitate more efficient and controllable transmission systems. As power grids age, there is a need to modernize and upgrade them to meet the requirements of a digitalized and decentralized energy landscape. The integration of renewable energy sources like solar and wind into the grid requires advanced technologies like FACTS to maintain grid stability. FACTS technologies help reduce transmission losses and improve the overall energy efficiency of the grid. Voltage instability is a common issue in power systems. FACTS devices help maintain stable voltage levels. Enhancing the reliability of power transmission is crucial for industrial processes and minimizing downtime.
North American utilities are investing in grid modernization efforts to replace aging infrastructure and improve grid reliability. FACTS devices play a vital role in achieving these goals by enhancing grid stability and power quality. The integration of renewable energy sources, such as wind and solar, into the North American grid has created the need for advanced grid management solutions. FACTS technologies help manage the variability and intermittency of renewable generation, ensuring grid stability. FACTS devices contribute to energy efficiency by reducing transmission losses and optimizing power flow. This is consistent with efforts to decrease greenhouse gas emissions and enhance the overall efficacy of the electrical grid. Extreme weather and natural disasters have the potential to disrupt electrical grids. Due to such factors, the market will rise significantly in this region.
The US market dominated the North America 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 $442.8 Million by 2030. The Canada market is experiencing a CAGR of 7.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Flexible AC Transmission System Market is Predict to reach $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
- US
- Canada
- Mexico
- Rest of North America
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 North America Flexible AC Transmission System Market, by Controller
1.4.2 North America Flexible AC Transmission System Market, by Vertical
1.4.3 North America Flexible AC Transmission System Market, by Compensation Type
1.4.4 North America 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. North America Flexible AC Transmission System Market, by Controller
4.1 North America Static VAR Compensator (SVC) Market, by Country
4.2 North America Static Synchronous Compensator (STATCOM) Market, by Country
4.3 North America Unified Power Flow Controller (UPFC) Market, by Country
4.4 North America Thyristor Controlled Series Compensator (TCSC) Market, by Country
4.5 North America Others Market, by Country
Chapter 5. North America Flexible AC Transmission System Market, by Vertical
5.1 North America Electric Utility Market, by Country
5.2 North America Oil & Gas Market, by Country
5.3 North America Railways Market, by Country
5.4 North America Others Market, by Country
Chapter 6. North America Flexible AC Transmission System Market, by Compensation Type
6.1 North America Series Compensation Market, by Country
6.2 North America Combined series-shunt Compensation Market, by Country
6.3 North America Shunt Compensation Market, by Country
Chapter 7. North America Flexible AC Transmission System Market, by Country
7.1 US Flexible AC Transmission System Market
7.1.1 US Flexible AC Transmission System Market, by Controller
7.1.2 US Flexible AC Transmission System Market, by Vertical
7.1.3 US Flexible AC Transmission System Market, by Compensation Type
7.2 Canada Flexible AC Transmission System Market
7.2.1 Canada Flexible AC Transmission System Market, by Controller
7.2.2 Canada Flexible AC Transmission System Market, by Vertical
7.2.3 Canada Flexible AC Transmission System Market, by Compensation Type
7.3 Mexico Flexible AC Transmission System Market
7.3.1 Mexico Flexible AC Transmission System Market, by Controller
7.3.2 Mexico Flexible AC Transmission System Market, by Vertical
7.3.3 Mexico Flexible AC Transmission System Market, by Compensation Type
7.4 Rest of North America Flexible AC Transmission System Market
7.4.1 Rest of North America Flexible AC Transmission System Market, by Controller
7.4.2 Rest of North America Flexible AC Transmission System Market, by Vertical
7.4.3 Rest of North America 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 North America Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 2 North America Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 3 North America Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 4 North America Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 5 North America Static VAR Compensator (SVC) Market, by Country, 2019 - 2022, USD Million
TABLE 6 North America Static VAR Compensator (SVC) Market, by Country, 2023 - 2030, USD Million
TABLE 7 North America Static Synchronous Compensator (STATCOM) Market, by Country, 2019 - 2022, USD Million
TABLE 8 North America Static Synchronous Compensator (STATCOM) Market, by Country, 2023 - 2030, USD Million
TABLE 9 North America Unified Power Flow Controller (UPFC) Market, by Country, 2019 - 2022, USD Million
TABLE 10 North America Unified Power Flow Controller (UPFC) Market, by Country, 2023 - 2030, USD Million
TABLE 11 North America Thyristor Controlled Series Compensator (TCSC) Market, by Country, 2019 - 2022, USD Million
TABLE 12 North America Thyristor Controlled Series Compensator (TCSC) Market, by Country, 2023 - 2030, USD Million
TABLE 13 North America Others Market, by Country, 2019 - 2022, USD Million
TABLE 14 North America Others Market, by Country, 2023 - 2030, USD Million
TABLE 15 North America Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 16 North America Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 17 North America Electric Utility Market, by Country, 2019 - 2022, USD Million
TABLE 18 North America Electric Utility Market, by Country, 2023 - 2030, USD Million
TABLE 19 North America Oil & Gas Market, by Country, 2019 - 2022, USD Million
TABLE 20 North America Oil & Gas Market, by Country, 2023 - 2030, USD Million
TABLE 21 North America Railways Market, by Country, 2019 - 2022, USD Million
TABLE 22 North America Railways Market, by Country, 2023 - 2030, USD Million
TABLE 23 North America Others Market, by Country, 2019 - 2022, USD Million
TABLE 24 North America Others Market, by Country, 2023 - 2030, USD Million
TABLE 25 North America Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 26 North America Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 27 North America Series Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 28 North America Series Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 29 North America Combined series-shunt Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 30 North America Combined series-shunt Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 31 North America Shunt Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 32 North America Shunt Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 33 North America Flexible AC Transmission System Market, by Country, 2019 - 2022, USD Million
TABLE 34 North America Flexible AC Transmission System Market, by Country, 2023 - 2030, USD Million
TABLE 35 US Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 36 US Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 37 US Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 38 US Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 39 US Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 40 US Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 41 US Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 42 US Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 43 Canada Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 44 Canada Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 45 Canada Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 46 Canada Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 47 Canada Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 48 Canada Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 49 Canada Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 50 Canada Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 51 Mexico Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 52 Mexico Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 53 Mexico Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 54 Mexico Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 55 Mexico Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 56 Mexico Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 57 Mexico Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 58 Mexico Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 59 Rest of North America Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 60 Rest of North America Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 61 Rest of North America Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 62 Rest of North America Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 63 Rest of North America Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 64 Rest of North America Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 65 Rest of North America Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 66 Rest of North America Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 67 Key Information – ABB Group
TABLE 68 Key Information – Adani Power Limited
TABLE 69 Key Information – aLSTOM SA
TABLE 70 Key Information – CG Power & Industrial Solutions Ltd.
TABLE 71 key information – Eaton Corporation PLC
TABLE 72 Key Information – General Electric Company
TABLE 73 Key Information – HYOSUNG Corporation
TABLE 74 key information – Mitsubishi Electric Corporation
TABLE 75 Key information – NR Electric Co., Ltd.
TABLE 76 Key Information – Siemens AG
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Flexible AC Transmission System Market share, by Controller, 2022
FIG 6 North America Flexible AC Transmission System Market share, by Controller, 2030
FIG 7 North America Flexible AC Transmission System Market, by Controller, 2019 - 2030, USD Million
FIG 8 North America Flexible AC Transmission System Market SHARE, by Vertical, 2022
FIG 9 North America Flexible AC Transmission System Market SHARE, by Vertical, 2030
FIG 10 North America Flexible AC Transmission System Market, by Vertical, 2019 - 2030, USD Million
FIG 11 North America Flexible AC Transmission System Market SHARE, by Compensation Type, 2022
FIG 12 North America Flexible AC Transmission System Market SHARE, by Compensation Type, 2030
FIG 13 North America Flexible AC Transmission System Market, by Compensation Type, 2019 - 2030, USD Million
FIG 14 North America Flexible AC Transmission System Market SHARE, by Country, 2022
FIG 15 North America Flexible AC Transmission System Market SHARE, by Country, 2030
FIG 16 North America 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