Global Market for Smart Grids (in US$ Billion) for the Years 2020EĪging Power T&D Infrastructure and Need to Replacement & Upgrade of Obsolete Power Systems to Spur Demand for FACT Equipment With Smart Grid Implementations Gaining Traction, Opportunities in Store for the FACTS Market Trend towards Distributed Power Generation Powers Demand for FACT Devices Global Energy Production: Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share by Energy Source (2030 & 2040) Global Renewable Energy Breakdown by Type: 2010 Vs 2030 Growing Focus on Renewable Energy-Based Power Projects Augurs Well for Market Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040Ĭhina and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50 Surging Energy Consumption and the Resulting Rise in Power Production, Transmission and Distribution: Foundation for Market Growth Global Investments into Power T&D Infrastructure by Region (in %) for 20 Global Investments into Power Transmission & Distribution Infrastructure (in US$ Billion) for 2010, 2015, 2020, 2030 & 2040 Growing Pressure on Power Transmission Grids and Rising Investments in Power Transmission Infrastructure to Benefit FACTS Market Utilities Emerges as the Largest End-Use Marketĭeveloping Regions to Spearhead Future GrowthĬompetitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E) Voltage Control Applications Lead Global Market World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021Įlectric Power Transmission and Distribution (T&D) Equipment: A Preludeįlexible Alternating Current Transmission (FACT) Systems: An Introduction Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP Impact of COVID-19 Pandemic and Looming Global RecessionĬOVID-19 Impacts Electricity Consumption: Average Annual Growth Rate of Electricity Demand by Select Region/Country for 2001-06, 2006-10, 2011. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$254.1 Million by the year 2030. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.4% respectively over the 2022-2030 period. China, the world's second largest economy, is forecast to reach a projected market size of US$276 Million by the year 2030 trailing a CAGR of 7.5% over the analysis period 2022 to 2030. is estimated at US$238.1 Million in the year 2022. The Flexible AC Transmission (FACT) Systems market in the U.S. Market is Estimated at $238.1 Million, While China is Forecast to Grow at 7.5% CAGR Taking into account the ongoing post pandemic recovery, growth in the Series segment is readjusted to a revised 5.1% CAGR for the next 8-year period. Shunt, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach US$1.5 Billion by the end of the analysis period. The global market for Flexible AC Transmission (FACT) Systems estimated at US$1.2 Billion in the year 2022, is projected to reach a revised size of US$1.9 Billion by 2030, growing at a CAGR of 5.8% over the analysis period 2022-2030. Global Flexible AC Transmission (FACT) Systems Market Set to Reach $1.9 Billion by 2030, Driven by Growing Investments in Power Transmission Infrastructure
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