PUBLISHER: KBV Research | PRODUCT CODE: 1374043
PUBLISHER: KBV Research | PRODUCT CODE: 1374043
North America Flexible AC Transmission System Market Size, Share & Industry Trends Analysis Report By Controller, By Vertical (Electric Utility, Oil & Gas, Railways, and Others), By Compensation Type, By Country and Growth Forecast, 2023 - 2030
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.
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
Companies Profiled
- 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
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
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Table of Contents
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
- 3.1.1 Overview
- 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
LIST OF TABLES
- 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
