Flexible AC Transmission (FACT) Systems Market
Flexible AC Transmission (FACT) Systems Market
Scope: Industry Analysis, Market Size, Growth, Trends Till 2031
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Flexible AC Transmission (FACT) Systems Market Size and Growth
The Flexible AC Transmission (FACT) Systems market is growing due to increasing demand for efficient power transmission and grid stability. As of 2023, the market size is projected to reach $2.5 billion, driven by technological advancements and rising renewable energy integration. Key trends include enhanced grid management and investment in infrastructure. Request Sample Report
Companies Covered
(Covid 19 Impact Covered)
◍ ABB
◍ Siemens
◍ RXPE
◍ Sieyuan Electric
◍ Mitsubishi Electric
◍ GE
◍ Toshiba
◍ AMSC
◍ Hyosung
The Flexible AC Transmission Systems (FACTS) market is competitive, with key players like ABB, Siemens, RXPE, Sieyuan Electric, Mitsubishi Electric, GE, Toshiba, AMSC, and Hyosung enhancing grid efficiency and stability. Their innovations support market growth, driven by increased demand for reliable power transmission.
- ABB: $28.1 billion (2022)
- Siemens: €62.3 billion (2022)
- GE: $74.2 billion (2022)
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Market Segmentation
By Application
Metal Industry
Railway
Mining
Utilities
Others
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By Product
Shunt Compensation
Series Compensation
Others
Market Growth
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$ X Billion USD
