Global Flexible AC Transmission System Market to Reach Nearly USD 1.4 Bn in 2018, According to M&M Study Published at MarketPublishers.com
London, UK (PRWEB) September 24, 2013
Worldwide, the FACTS (flexible AC transmission system) market is forecast to grow from just over USD 0.912 billion in 2012 to approximately USD 1.4 billion by end-2018, at 7.23% CAGR during 2013-2018. The ever rising need for high-quality power supply and improved network reliability for applications like electric utilities, steel & mining sectors; aging power infrastructure replacements and upgrades along with growing integration of renewable energy sources in power grids in developed American and European economies; new power capacity additions in the developing Asia-Pacific region and RoW, among other factors, are poised to play a crucial part in the growth of FACTS market globally. A static VAR compensator is the most widely used solution in the worldwide market, followed by fixed series capacitors.
Asia-Pacific is the emerging market, which is expected to post nearly 8.9% CAGR between 2013 and 2018 and fly at a higher pitch than the Americas in terms of revenue by 2018. China, India and Australia are the most rapidly evolving countries in the region. Alstom, ABB, Mitsubishi Electric, Siemens, General Electric, American Superconductor Corporation and Toshiba, among others, are the most prominent players in the worldwide FACTS marketplace.
New cutting-edge research study Flexible AC Transmission System (FACTS) Market by Compensation (Shunt, Series, Combined), Component (Thyristors, Capacitor Banks, Reactors), Application, Industry Vertical (Electric Utilities, Steel, Mining), Global Forecast & Analysis (2013 – 2018) elaborated by MarketsandMarkets (M&M) has been recently published by Market Publishers Ltd.
Report Details:
Title: Flexible AC Transmission System (FACTS) Market by Compensation (Shunt, Series, Combined), Component (Thyristors, Capacitor Banks, Reactors), Application, Industry Vertical (Electric Utilities, Steel, Mining), Global Forecast & Analysis (2013 – 2018)
Published: September, 2013
Pages: 343
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