DUBLIN, Oct. 13, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/fjmvlp/flexible_ac) has announced the addition of the "Flexible AC Transmission Systems (FACTS) Market by Compensation Type (Shunt, Series & Combined), Component, Application, Verticals (Electric Utilities, Renewables, Railways, Industrial, And Oil & Gas), and by Geography - Global Forecast to 2020" report to their offering.
The global flexible AC transmission systems (FACTS) market is valued at USD 988.5 million in 2015 and is expected to reach USD 1.26 Billion by 2020, at a CAGR of 5.10% between 2015 and 2020.
The growth of the flexible AC transmission systems (FACTS) market can be attributed to factors such as growing industry awareness about FACTS and its advantages, and growing markets of electric utility and renewables . This report profiles all the major companies involved in the flexible AC transmission systems (FACTS) market such as ABB Ltd. (Switzerland), Siemens AG (Germany), Mitsubishi Electric Corp. (Japan), General Electric (U.S.), Eaton Corp PLC (Ireland), Alstom (France), American Electric Power (U.S.), Hyosung (South Korea), NR Electric Co. Ltd. (China) and, Adani Power (India) among others.
The flexible AC transmission systems (FACTS) market has been segmented according to compensation type, such as shunt compensation, series compensation, and combined series, and shunt compensation. The series compensation type market is expected to grow at a highest CAGR during the forecast period as it provides economical means for producing reactive power requirements of transmission.
The verticals include electric utilities, renewables, railways, industrial, and oil & gas. Renewables is expected to grow at the highest CAGR of 18.7% between 2015 and 2020. This is because of the growing demand for renewable sources such as wind power and solar farms, which is expected to drive the market.
The increasing government initiatives and environmental regulations to facilitate carbon-free power transmission is the major driving factor responsible for boosting the growth of flexible AC transmission systems (FACTS) in renewable market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Flexible Ac Transmission Market, By Compensation Type
8 Flexible Ac Transmission Market, By Component Type
9 Flexible Ac Transmission Market, By Application
10 Flexible Ac Transmission Market, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- ABB Ltd. - Adani Power - Alstom - American Electric Power - Eaton Corporation Plc - General Electric - Hyosung - Mitsubishi Electric Corporation - NR Electric Co., Ltd. - Siemens AG
For more information visit http://www.researchandmarkets.com/research/fjmvlp/flexible_ac
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SOURCE Research and Markets