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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