Global Flexible AC Transmission Systems Market by Types, Applications, and Regions — Market Size, Share and Trends, Forecasts 2020–2026

The Global Flexible AC Transmission Systems market size is anticipated to expand at a substantial CAGR during the forecast period, 2020–2026 due to its benefits offered by these systems. Increase in transmission lines and end-users shift toward the use of renewable sources of energy generation are expected to drive the growth of the market.

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A flexible alternating current transmission system (FACTS) consists of a system equipped with static equipment used for AC transmission of electrical energy. It improves controllability and increases the power transfer capacity of the network.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing urbanization and industrialization in developing countries, and rising power supply to rural areas, is fueling improvements in the electricity infrastructure. This is a major factor responsible for the growth of the market.
Rising need for the protection of equipment from breakdown resulted by overvoltage, high investments in smart electric grids and energy systems, and aging power infrastructure are some factors driving the market.
Surging demand for uninterrupted and reliable power supply and focus of market players on effective electricity transmission and distribution are anticipated to create opportunities in the market.