Report Description Table of Contents The flexible ac transmission system (facts) market was worth USD 1.8 billion in 2023 and will be worth USD 4.4 billion by 2030, growing at a CAGR of 9% during the forecast period. The global Flexible AC Transmission System (FACTS) market is powered by the advancing need for bolstering the power grid, efficient flow control power, and incorporating renewable energy into the network. As the global energy mix is expected to reach approximately 48% by 2050, new approaches to handling the variability of renewable energy, such as wind and solar, have become important. FACTS technology makes more efficient use of present grid structures, increasing transmission capability without much physical reinforcement of the system. For example, Static Synchronous Compensators (STATCOMs), considered one of the FACTS devices, are applied to enhance the grid voltage stability and power quality in the case of integrated renewable energy sources. Recent trends include the use of highly developed FACTS devices to facilitate connection with Offshore wind farms as well as to safeguard the stability of the power supply system. These systems assist in tackling the emerging complexities in an advanced power grid where fluctuating inputs from renewable energy sources and a rising electricity demand pose tough problems. The FACTS market brings opportunities, especially due to the increased utilization of renewable energy and demand for grid transformation. The global demand for electricity from renewable energy sources is likely to be a major segment by 2030, and hence, require devices such as FACTS to stabilize the grid scenarios. Recent developments use FACTS devices, such as the Unified Power Flow Controller (UPFC), to regulate voltage in renewable dominant systems. For instance, a few projects in Europe and the United States have installed FACTS to increase the effectiveness of the transmission systems in large wind farms, incorporating renewables and balancing the grid constraints with high growth prospects for FACTS solutions. Market Segmentation By Type: Static Synchronous Compensators (STATCOM) Static Var Compensator (SVC) Unified Power Flow Controller (UPFC) Thyristor Controlled Series Capacitor (TCSC) Thyristor Controlled Phase Shifter (TCPS) Others (e.g., SSSC - Static Synchronous Series Compensator) By Component: Power Electronics Devices Phase Shifting Transformers Thyristors Reactor Capacitor By Application: Voltage Control Power Flow Control Stability Enhancement Reactive Power Compensation Congestion Management By End-User: Utilities Renewable Energy Generators Industrial (Manufacturing, Oil & Gas) Railways Others By Region North America US Mexico Canada Rest of North America Europe Switzerland Russia France Germany U.K Finland Turkey Netherlands Belgium Spain Italy Rest of Europe Asia Pacific India China South Korea Japan Singapore Thailand Indonesia Malaysia Philippines Australia Rest of Asia-Pacific LAMEA Brazil Argentina Uruguay Saudi Arabia Rest of LAMEA North America holds the largest market share of Flexible AC Transmission System (FACTS) due to increased emphasis on grid modernization for increased adoption of renewable energy. The USA is actively involved in ongoing investments in upgrading the grid and managing the growing variability of resources such as wind and solar. According to the US EIA, as of 2023, more than 20% of US electricity came from renewable sources, indicating a need to integrate complex solutions such as FACTS to maintain grid voltage levels. The latest trends include investments in STATCOMs and SVCs to counterbalance the country's increasing portfolio of renewable energy schemes. For instance, Texas, considered among the wind power generation leaders, uses FACTS solutions to deal with the fluctuating nature of wind power to provide a reliable electric utility supply. The regional focus on enhancing the stability of the grids and incorporation of renewables keeps North America ahead of the FACTS market. Key Players ABB Ltd. Siemens AG General Electric Mitsubishi Electric Schneider Electric Eaton Corporation NR Electric Co., Ltd. Toshiba Corporation Alstom Grid American Electric Power (AEP) Frequently Asked Question About This Report . Table of Contents 1. FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030) 1.1. North America 1.2. Europe 1.3. Asia Pacific 1.4. Latin America 1.5. Middle East & Africa 2. FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030) 2.1. North America 2.2. Europe 2.3. Asia Pacific 2.4. Latin America 2.5. Middle East & Africa 3. MARKET SHARE ANALYSIS – FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET 3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume 3.2. Market Share, 2023 3.3. Market By Type of Flexible AC Transmission System (FACTS) and End Use Outlook Analysis 4. HISTORIC TRENDS IN FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET 5. EMERGING MARKET TRENDS 6. NORTH AMERICA FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 6.1. North America Flexible AC Transmission System (FACTS) Historical Market ($MILLION), (2017 – 2023) 6.2. North America Flexible AC Transmission System (FACTS) Market ($MILLION) and Forecasts (2024 – 2030) 6.3. North America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 6.3.1. Static Synchronous Compensators (STATCOM) 6.3.2. Static Var Compensator (SVC) 6.3.3. Unified Power Flow Controller (UPFC) 6.3.4. Thyristor Controlled Series Capacitor (TCSC) 6.3.5. Thyristor Controlled Phase Shifter (TCPS) 6.3.6. Others (e.g., SSSC - Static Synchronous Series Compensator) 6.4. North America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Component 6.4.1. Power Electronics Devices 6.4.2. Phase Shifting Transformers 6.4.3. Thyristors 6.4.4. Reactor 6.4.5. Capacitor 6.5. North America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 6.5.1. Voltage Control 6.5.2. Power Flow Control 6.5.3. Stability Enhancement 6.5.4. Reactive Power Compensation 6.5.5. Congestion Management 6.6. North America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 6.6.1. Utilities 6.6.2. Renewable Energy Generators 6.6.3. Industrial (Manufacturing, Oil & Gas) 6.6.4. Railways 6.6.5. Others 6.7. North America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 6.7.1. USA 6.7.2. Canada 6.7.3. Rest of North America 7. USA FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8. EUROPE FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8.1. Europe Flexible AC Transmission System (FACTS) Historical Market ($MILLION), (2017 – 2023) 8.2. Europe Flexible AC Transmission System (FACTS) Market ($MILLION) and Forecasts (2024 – 2030) 8.3. Europe Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 8.4. Europe Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Component 8.5. Europe Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 8.6. Europe Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 8.7. Europe Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 8.7.1. Germany 8.7.2. France 8.7.3. UK 8.7.4. Italy 8.7.5. Spain 8.7.6. Rest of Europe 9. APAC FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 9.1. APAC Flexible AC Transmission System (FACTS) Historical Market ($MILLION), (2017 – 2023) 9.2. APAC Flexible AC Transmission System (FACTS) Market ($MILLION) and Forecasts (2024 – 2030) 9.3. APAC Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 9.4. APAC Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Component 9.5. APAC Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), ByApplication 9.6. APAC Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 9.7. APAC Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 9.7.1. China 9.7.2. Japan 9.7.3. South Korea 9.7.4. India 9.7.5. Australia 9.7.6. Rest of APAC 10. LATIN AMERICA FLEXIBLE AC TRANSMISSION SYSTEM (FACTS) MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 10.1. Latin America Flexible AC Transmission System (FACTS) Historical Market ($MILLION), (2017 – 2023) 10.2. Latin America Flexible AC Transmission System (FACTS) Market ($MILLION) and Forecasts (2024 – 2030) 10.3. Latin America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 10.4. Latin America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Component 10.5. Latin America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), ByApplication 10.6. Latin America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By End-User 10.7. Latin America Flexible AC Transmission System (FACTS) Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 10.7.1. Brazil 10.7.2. Argentina 10.7.3. Rest of Latin America 11. COMPANY PROFILES: 11.1. ABB LTD. 11.1.1. Company Overview 11.1.2. Company Snapshot 11.1.3. Operating business segments 11.1.4. Product offered and Revenue 11.1.5. Production & Sales 11.2. Siemens AG 11.3. General Electric 11.4. Mitsubishi Electric 11.5. Schneider Electric 11.6. Eaton Corporation 11.7. NR Electric Co., Ltd. 11.8. Toshiba Corporation 11.9. OTHER MARKET PLAYERS