FACTS (Flexible AC Transmission System)
Market
FACTS (Flexible AC Transmission System) Market
Scope: Industry Analysis, Market Size, Growth, Trends Till 2031
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FACTS (Flexible AC Transmission System) Market Size and Growth
The FACTS market is experiencing significant growth due to increasing demand for reliable electricity transmission and integration of renewable energy. In 2023, the market size is estimated to exceed $5 billion, driven by advancements in technology and government investments in grid infrastructure. Regional expansions and innovation in smart grid solutions are key trends.
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Companies Covered
(Covid 19 Impact Covered)
◍ ABB
◍ Siemens
◍ Mitsubishi Electric
◍ General Electric
◍ Eaton
◍ Alstom
◍ American Electric Power
◍ Hyosung
◍ NR Electric
◍ Adani Power
◍ Toshiba
◍ Superconductor
The FACTS market features major players like ABB, Siemens, Mitsubishi Electric, and GE, offering advanced solutions for power transmission stability. These companies enhance efficiency and grid reliability, supporting market growth. Sales revenue highlights include ABB ($28 billion), Siemens ($62 billion), and Mitsubishi Electric ($40 billion), driving innovation and expansion in FACTS technology.
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Market Segmentation
By Application
Electric Utilities
Renewables
Railways
Oil & Gas
By Product
◍ Shunt Connected
Shunt
Series and Combined Series
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Market Growth
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$ X Billion USD
