The global Flexible AC Transmission Systems (FACTS) market was valued at USD 1.38 billion in 2024. The market is projected to grow from USD 1.45 billion in 2025 to USD 1.92 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period.
A Flexible AC Transmission System (FACTS) is a power electronics-based system composed of static equipment used for the AC transmission of electrical energy. As defined by the IEEE, these systems provide control of one or more AC transmission parameters to enhance controllability and increase power transfer capability of the network. They are crucial for improving grid reliability, reducing power delivery costs, and enhancing transmission quality and efficiency by supplying inductive or reactive power.
By Applications :
Key Industry Players
• ABB Ltd.
• Siemens AG
• General Electric Company
• Mitsubishi Electric Corporation
• Hitachi Energy Ltd.
• Schneider Electric SE
• Hyosung Corporation
• Toshiba Energy Systems & Solutions Corporation
• Fuji Electric Co., Ltd.