Flexible AC Transmission System Trends and Forecast
The future of the global flexible ac transmission system market looks promising with opportunities in the utility, renewable, industrial, and railway markets. The global flexible ac transmission system market is expected to reach an estimated $2.7 billion by 2030 with a CAGR of 7.9% from 2024 to 2030. The major drivers for this market are expansion of transmission lines, increasing need for STATCOM devices to regulate voltage, and escalating integration of renewable energy into power grids.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Flexible AC Transmission System by Segment
The study includes a forecast for the global flexible AC transmission system by generation, function, application, end use, and region.
Flexible AC Transmission System Market by Generation [Shipment Analysis by Value from 2018 to 2030]:
• First Generation
• Second Generation
Flexible AC Transmission System Market by Function [Shipment Analysis by Value from 2018 to 2030]:
• Voltage Control
• Network Stabilization
• Transmission Capacity
• Harmonic Suppression
Flexible AC Transmission System Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Voltage Control
• Power Control
Flexible AC Transmission System Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Utilities
• Renewables
• Industrial
• Railways
• Others
Flexible AC Transmission System Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Flexible AC Transmission System Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies flexible AC transmission system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the flexible AC transmission system companies profiled in this report include-
• ABB
• Siemens
• Mitsubishi Electric
• Infineon Technologies
• NR Electric
• Hyosung Heavy Industries
• Rongxin Power
Flexible AC Transmission System Market Insights
Lucintel forecasts that second generation will remain the larger segment over the forecast period.
Within this market, utility will remain the largest segment over the forecast period.
Europe will remain the largest region over the forecast period.
Features of the Global Flexible AC Transmission System Market
Market Size Estimates: Flexible AC transmission system market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Flexible AC transmission system market size by various segments, such as by generation, function, application, end use, and region in terms of value ($B).
Regional Analysis: Flexible AC transmission system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different generations, functions, applications, end uses, and regions for the flexible AC transmission system market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the flexible AC transmission system market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the flexible AC transmission system market size?
Answer: The global flexible AC transmission system market is expected to reach an estimated $2.6 billion by 2030.
Q2. What is the growth forecast for flexible AC transmission system market?
Answer: The global flexible AC transmission system market is expected to grow with a CAGR of 7.9% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the flexible AC transmission system market?
Answer: The major drivers for this market are expansion of transmission lines, increasing need for STATCOM devices to regulate voltage, and escalating integration of renewable energy into power grids.
Q4. What are the major segments for flexible AC transmission system market?
Answer: The future of the flexible AC transmission system market looks promising with opportunities in the utility, renewable, industrial, and railway markets.
Q5. Who are the key flexible AC transmission system market companies?
Answer: Some of the key flexible AC transmission system companies are as follows:
• ABB
• Siemens
• Mitsubishi Electric
• Infineon Technologies
• NR Electric
• Hyosung Heavy Industries
• Rongxin Power
Q6. Which flexible AC transmission system market segment will be the largest in future?
Answer: Lucintel forecasts that second generation will remain the larger segment over the forecast period.
Q7. In flexible AC transmission system market, which region is expected to be the largest in next 5 years?
Answer: Europe will remain the largest region over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the flexible AC transmission system market by generation (first generation and second generation), function (voltage control, network stabilization, transmission capacity, and harmonic suppression), application (voltage control and power control), end use (utilities, renewables, industrial, railways, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Flexible AC Transmission System Market, Flexible AC Transmission System Market Size, Flexible AC Transmission System Market Growth, Flexible AC Transmission System Market Analysis, Flexible AC Transmission System Market Report, Flexible AC Transmission System Market Share, Flexible AC Transmission System Market Trends, Flexible AC Transmission System Market Forecast, Flexible AC Transmission System Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.