London, 09 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Flexible AC Transmission System Market 2014-2018, which is expected to grow at a CAGR of 8 percent during the forecast period of 2013-2018.
FACTS devices are deployed in grid transmission systems to minimize losses in transmission lines and increase grid power output. These devices are used to mitigate the conventional grid transmission line problems with the use of highly efficient semiconductor devices that have a rapid response time, reduce the faults in the transmission lines, and minimize losses.
“The growing electricity demand and the increased power consumption have resulted in an increased need for power system interconnection. The power system interconnection has increased the power exchange between countries as well as between regions within the countries,” says Faisal Ghaus, Vice President of TechNavio.
“Use of FACTS controllers enables a reduction in the losses and minimizes the faults in the transmission systems.”
Key Market Drivers
- Increased Need for Congestion Management in Power Systems
- Financial Benefits of FACTS Controllers
- Reduced Maintenance Cost of Transmission Lines
Key Market Trends
- Increase in Environmental Concerns
- Increase in Power System Interconnection
- Increase in Renewable Installations
Key Market Vendors
- ABB Ltd.
- Alstom SA
- Eaton Corp. plc
- Xian Electric Engineering Co. Ltd.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
