Flexible AC Transmission System Market by Compensation Type (Series Compensation, Shunt Compensation, and Combined Series-Shunt Compensation), Controller (Static Synchronous Compensator (STATCOM), Static Var Compensator (SVC), Unified Power Flow Controllers (UPFC), Thyristor Controlled Series Compensator (TCSC), and Others), and Industry Vertical (Oil & Gas, Electric Utility, Railways, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023 Update Available On-Demand
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A00672
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Pages: 181
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Dec
2017 |
8485 Views
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Author(s) :
Rahul Kumar & Sonia Mutreja
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Tables: 62
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Charts: 57
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Formats*:
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Request Now !Flexible AC Transmission System Market Overview:
Flexible AC Transmission System Market was valued at $508 million in 2016, and is estimated to reach $1,034 million by 2023, growing at a CAGR of 10.7% from 2017 to 2023. Flexible AC transmission system provide dynamic reactive power support, increases system stability, and control real & reactive power. This ensures efficient machine operation and enhances system utilization. The global flexible AC transmission system market is expected to witness significant growth rate, due to the advancement of electric power transmission system across the developed and the developing regions, including North America, Europe, and Asia-Pacific.
The Asia-Pacific flexible AC transmission system market is expected to register the highest CAGR during the forecast period, owing to increase in government expenditure to build smart grids and increase in investment on electricity generation by renewable energy resources. In addition, rise in investments in high speed trains from the developing countries such as China, India, and Japan is expected to offer lucrative opportunities for market expansion.
Increase in demand for controllability of power system in the industries such as oil & gas, railways, and electric utility fuels the demand for flexible AC transmission system in the market. However, LAMEA is expected to account for the least share in the global market as compared to other regions, due to uniform smartphone penetration across Latin America. Furthermore, Middle East and Africa are expected to gain traction due to slow adoption of flexible AC transmission system across industry verticals such as manufacturing, railways, and renewable energy industries. However, high initial cost of installation is expected to restrain the market growth during the forecast period.
The global flexible AC transmission system market is segmented based on compensation type, controller, industry vertical, and region. The compensation type covered in the study includes series compensation, shunt compensation, and combined series-shunt compensation. By controller, the market is classified as STATCOM, SVC, UPFC, TCSC, and others. Based on industry vertical, it is categorized into oil & gas, electric utility, railways, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The key players profiled in the report are Amazon Web Services, Inc., Cisco Systems, Citrix Systems, Inc., Dell Inc., HP Development Company, L.P., IBM Corporation, Microsoft Corporation, NComputing Co. LTD, Rackspace, Inc., and VMware. The report includes the key strategies adopted by these players and the detailed analysis of the current trends, upcoming opportunities, and restraints of the global flexible AC transmission system market in addition to their impacts.
Top Impacting Factors
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Advancement of Electric Power Transmission System
The aging transmission and other power system networks result into lots of power losses and lesser system usability. The rise in demand for electrification across developed and developing nations, drives the demand for the flexible AC transmission system market.
Increase in Demand for Controllability of Power System
The controlled, regulated, and uninterrupted power supply increases system efficiency and boost the production process. This results into lesser wear and tear to the equipment installed in the industrial plant.
Need of High Reliability Under Contingencies
The varying load and varying demand during running time, creates disturbance or power failure in the whole or some section of the network. Therefore, the need of reliable system support continuous operation.
Key Benefits
- In-depth analysis and dynamics of the global flexible AC transmission system market is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on the prevailing market opportunities.
- Porter’s Five Forces analysis examines the competitive structure and provides a clear understanding of the factors that influence market entry and expansion.
- A detailed analysis of the geographical segments enables the identification of profitable segments for market players.
- Comprehensive analysis of the trends, subsegments, and key revenue pockets of flexible AC transmission system market is provided.
Flexible AC Transmission System Market Key Segments:
By Compensation Type
- Series compensation
- Shunt compensation
- Combined series-shunt compensation
By Controller
- STATCOM
- SVC
- UPFC
- TCSC
- Others
By Industry Vertical
- Oil & Gas
- Electric Utility
- Railways
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. RESEARCH METHODOLOGY
1.3.1. Primary research
1.3.2. Secondary research
1.3.3. Analyst tools and models
1.3.4. Market segmentation
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.2.3. Top impacting factors
3.2.3.1. Advancement of electric power transmission system
3.2.3.2. Increase in demand for controllability of power system
3.2.3.3. Need of high reliability under contingencies
3.2.3.4. High initial investment on systems and infrastructure
3.2.3.5. Emergence of smart grids & increase in dependent on renewable energy resources
3.3. PORTER’S FIVE FORCES
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry
3.4. MARKET SHARE ANALYSIS, 2016 (%)
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Advancement of electric power transmission system
3.5.1.2. Increase in demand for controllability of power systems
3.5.1.3. Need of high reliability under contingencies
3.5.2. Restraints
3.5.2.1. High initial cost of installation
3.5.3. Opportunities
3.5.3.1. Emergence of smart grids & increase in dependency on renewable energy resources
CHAPTER 4 FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE
4.1. OVERVIEW
4.2. SERIES COMPENSATION
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.3. SHUNT COMPENSATION
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.4. COMBINED SERIES-SHUNT COMPENSATION
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast
CHAPTER 5 FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY CONTROLLER
5.1. OVERVIEW
5.2. STATIC SYNCHRONOUS COMPENSATOR (STATCOM)
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast
5.3. STATIC VAR COMPENSATOR (SVR)
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast
5.4. UNIFIED POWER FLOW CONTROLLER (UPFC)
5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast
5.5. THYRISTOR CONTROLLED SERIES COMPENSATOR (TCSC)
5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast
5.6. OTHERS
5.6.1. Key market trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast
CHAPTER 6 FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY INDUSTRY VERTICAL
6.1. OVERVIEW
6.2. OIL & GAS
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.3. ELECTRIC UTILITY
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.4. RAILWAYS
6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.5. OTHERS
6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast
CHAPTER 7 FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY
7.1. OVERVIEW
7.2. NORTH AMERICA
7.2.1. Key trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast
7.2.3.1. U.S.
7.2.3.1.1. Market size and forecast
7.2.3.2. Canada
7.2.3.2.1. Market size and forecast
7.2.3.3. Mexico
7.2.3.3.1. Market size and forecast
7.2.4. North America flexible AC transmission system market, by compensation type
7.2.5. North America flexible AC transmission system market, by controller
7.2.6. North America flexible AC transmission system market, by industry vertical
7.3. EUROPE
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast
7.3.3.1. UK
7.3.3.1.1. Market size and forecast
7.3.3.2. Germany
7.3.3.2.1. Market size and forecast
7.3.3.3. France
7.3.3.3.1. Market size and forecast
7.3.3.4. Italy
7.3.3.4.1. Market size and forecast
7.3.3.5. Rest of Europe
7.3.3.5.1. Market size and forecast
7.3.4. Europe flexible AC transmission system market, by compensation type
7.3.5. Europe flexible AC transmission system market, by controller
7.3.6. Europe flexible AC transmission system market, by industry vertical
7.4. ASIA-PACIFIC
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast
7.4.3.1. China
7.4.3.1.1. Market size and forecast
7.4.3.2. India
7.4.3.2.1. Market size and forecast
7.4.3.3. Japan
7.4.3.3.1. Market size and forecast
7.4.3.4. Australia
7.4.3.4.1. Market size and forecast
7.4.3.5. Rest of Asia-Pacific
7.4.3.5.1. Market size and forecast
7.4.4. Asia-Pacific flexible AC transmission system market, by compensation type
7.4.5. Asia-Pacific flexible AC transmission system market, by controller
7.4.6. Asia-Pacific flexible AC transmission system market, by industry vertical
7.5. LAMEA
7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast
7.5.3.1. Latin America
7.5.3.1.1. Market size and forecast
7.5.3.2. Middle East
7.5.3.2.1. Market size and forecast
7.5.3.3. Africa
7.5.3.3.1. Market size and forecast
7.5.4. LAMEA flexible AC transmission system market, by compensation type
7.5.5. LAMEA flexible AC transmission system market, by controller
7.5.6. LAMEA flexible AC transmission system market, by industry vertical
CHAPTER 8 COMPANY PROFILES
8.1. ABB LTD.
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Business performance
8.1.6. Key strategic moves and developments
8.2. ADANI POWER LIMITED
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves and developments
8.3. ALSTOM SA
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Business performance
8.4. CG POWER AND INDUSTRIAL SOLUTIONS LIMITED
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance
8.4.6. Key strategic moves and developments
8.5. EATON CORPORATION PLC
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Business performance
8.5.6. Key strategic moves & developments, 2014-2016
8.6. GENERAL ELECTRIC
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.6.6. Key strategic moves and developments
8.7. HYOSUNG CORPORATION
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.8. MITSUBISHI ELECTRIC CORPORATION
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Business performance
8.8.6. Key strategic moves and developments
8.9. NR ELECTRIC CO., LTD.
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Key strategic moves and developments
8.10. SIEMENS AG
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Business performance
8.10.6. Key strategic moves and developments
LIST OF TABLES
TABLE 1. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE, 2016-2023 ($MILLION)
TABLE 2. SERIES COMPENSATION FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 3. SHUNT COMPENSATION FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 4. COMBINED SERIES-SHUNT COMPENSATION FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 5. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY CONTROLLER, 2016-2023 ($MILLION)
TABLE 6. STATCOM FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 7. SVC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 8. UPFC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 9. TCSC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 10. OTHERS FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 11. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 12. FLEXIBLE AC TRANSMISSION SYSTEM MARKET FOR OIL & GAS INDUSTRY, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 13. FLEXIBLE AC TRANSMISSION SYSTEM MARKET FOR ELECTRIC UTILITY INDUSTRY, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 14. FLEXIBLE AC TRANSMISSION SYSTEM MARKET FOR RAILWAYS INDUSTRY, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 15. FLEXIBLE AC TRANSMISSION SYSTEM MARKET FOR OTHER INDUSTRIES, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 16. FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 17. NORTH AMERICA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18. NORTH AMERICA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE, 2016-2023 ($MILLION)
TABLE 19. NORTH AMERICA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY CONTROLLER, 2016-2023 ($MILLION)
TABLE 20. NORTH AMERICA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 21. EUROPE FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 22. EUROPE FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE, 2016-2023 ($MILLION)
TABLE 23. EUROPE FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY CONTROLLER, 2016-2023 ($MILLION)
TABLE 24. EUROPE FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 25. ASIA-PACIFIC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 26. ASIA-PACIFIC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE, 2016-2023 ($MILLION)
TABLE 27. ASIA-PACIFIC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY CONTROLLER, 2016-2023 ($MILLION)
TABLE 28. ASIA-PACIFIC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 29. LAMEA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 30. LAMEA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE, 2016-2023 ($MILLION)
TABLE 31. LAMEA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY CONTROLLER, 2016-2023 ($MILLION)
TABLE 32. LAMEA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 33. ABB: COMPANY SNAPSHOT
TABLE 34. ABB: OPERATING SEGMENTS
TABLE 35. ABB: PRODUCT PORTFOLIO
TABLE 36. ADANI POWER LIMITED: COMPANY SNAPSHOT
TABLE 37. ADANI POWER LIMITED: OPERATING SEGMENTS
TABLE 38. ADANI POWER LIMITED: PRODUCT PORTFOLIO
TABLE 39. ALSTOM SA: COMPANY SNAPSHOT
TABLE 40. ALSTOM SA: OPERATING SEGMENTS
TABLE 41. ALSTOM SA: PRODUCT PORTFOLIO
TABLE 42. CG POWER AND INDUSTRIAL SOLUTIONS LIMITED: COMPANY SNAPSHOT
TABLE 43. CG POWER AND INDUSTRIAL SOLUTIONS LIMITED: OPERATING SEGMENTS
TABLE 44. CG POWER AND INDUSTRIAL SOLUTIONS LIMITED: PRODUCT PORTFOLIO
TABLE 45. EATON CORPORATION PLC: COMPANY SNAPSHOT
TABLE 46. EATON CORPORATION PLC: OPERATING SEGMENTS
TABLE 47. EATON CORPORATION PLC: PRODUCT PORTFOLIO
TABLE 48. GENERAL ELECTRIC: COMPANY SNAPSHOT
TABLE 49. GENERAL ELECTRIC: OPERATING SEGMENTS
TABLE 50. GENERAL ELECTRIC: PRODUCT PORTFOLIO
TABLE 51. HYOSUNG CORPORATION: COMPANY SNAPSHOT
TABLE 52. HYOSUNG CORPORATION: OPERATING DIVISIONS
TABLE 53. HYOSUNG CORPORATION: PRODUCT PORTFOLIO
TABLE 54. MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 55. MITSUBISHI ELECTRIC CORPORATION: OPERATING SEGMENTS
TABLE 56. MITSUBISHI ELECTRIC CORPORATION: PRODUCT PORTFOLIO
TABLE 57. NR ELECTRIC CO., LTD.: COMPANY SNAPSHOT
TABLE 58. NR ELECTRIC CO., LTD: OPERATING SEGMENTS
TABLE 59. NR ELECTRIC CO., LTD: PRODUCT PORTFOLIO
TABLE 60. SIEMENS: COMPANY SNAPSHOT
TABLE 61. SIEMENS: OPERATING SEGMENTS
TABLE 62. SIEMENS: PRODUCT CATEGORY
LIST OF FIGURES
FIGURE 1. MARKET SEGMENTATION: FLEXIBLE AC TRANSMISSION SYSTEM MARKET
FIGURE 2. TOP WINNING STRATEGIES, 2015-2017 (%)
FIGURE 3. TOP WINNING STRATEGIES, 2015-2017
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 6. MODERATE BARGAINING POWER OF BUYERS
FIGURE 7. LOW-TO-MODERATE THREAT OF SUBSTITUTES
FIGURE 8. MODERATE-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 9. HIGH COMPETITIVE RIVALRY
FIGURE 10. MARKET SHARE ANALYSIS, 2016 (%)
FIGURE 11. MARKET DYNAMICS
FIGURE 12. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY COMPENSATION TYPE
FIGURE 13. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY CONTROLLER
FIGURE 14. GLOBAL FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY INDUSTRY VERTICAL
FIGURE 15. FLEXIBLE AC TRANSMISSION SYSTEM MARKET, BY GEOGRAPHY
FIGURE 16. NORTH AMERICA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 17. U.S. FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 18. CANADA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 19. MEXICO FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 20. EUROPE FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 21. UK FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 22. GERMANY FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 23. FRANCE FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 24. ITALY FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 25. REST OF EUROPE FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 26. ASIA-PACIFIC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 27. CHINA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 28. INDIA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 29. JAPAN FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 30. AUSTRALIA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 (MILLION)
FIGURE 31. REST OF ASIA-PACIFIC FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 32. LAMEA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 33. LATIN AMERICA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 34. MIDDLE EAST FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 35. AFRICA FLEXIBLE AC TRANSMISSION SYSTEM MARKET, 2016-2023 ($MILLION)
FIGURE 36. ABB: REVENUE, 2014-2016 ($MILLION)
FIGURE 37. ABB: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 38. ABB: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 39. ADANI POWER LIMITED: REVENUE, 2014-2016 ($MILLION)
FIGURE 40. ALSTOM SA: REVENUE, 2014-2016 ($MILLION)
FIGURE 41. ALSTOM SA: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 42. ALSTOM SA: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 43. CG POWER AND INDUSTRIAL SOLUTIONS LIMITED: REVENUE, 2015-2017 ($MILLION)
FIGURE 44. CG POWER AND INDUSTRIAL SOLUTIONS LIMITED: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 45. EATON CORPORATION PLC: REVENUE, 2013-2016 ($MILLION)
FIGURE 46. EATON CORPORATION PLC: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 47. EATON CORPORATION PLC: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 48. GENERAL ELECTRIC: REVENUE, 2014-2016 ($MILLION)
FIGURE 49. GENERAL ELECTRIC: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 50. GENERAL ELECTRIC: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 51. HYOSUNG CORPORATION: REVENUE, 2014-2016 ($MILLION)
FIGURE 52. MITSUBISHI ELECTRIC CORPORATION: REVENUE, 2015-2017 ($MILLION)
FIGURE 53. MITSUBISHI ELECTRIC CORPORATION: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 54. MITSUBISHI ELECTRIC CORPORATION: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 55. SIEMENS: REVENUE, 2014-2016 ($MILLION)
FIGURE 56. SIEMENS: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 57. SIEMENS: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
Flexible AC transmission system is the power electronics based devices used to enhance controllability and stability of the AC system. This is due to the increase in demand for controllability of power systems, advancement of electric power transmission system, and need of high reliability under contingencies. However, high initial cost of installation is expected to hamper the flexible AC transmission system market growth.
Need for effective equipment operation, consistent power supply, and improved power factor are the necessary requirement by the various small & medium enterprise and as well as large enterprise, drives the demand of flexible AC transmission system. This enables the industry vertical to perform the tasks and maintain the production at required level during any contingencies and peak demand.
In 2016, the series was the highest contributor, in terms of revenue, in the global flexible AC transmission system market. In addition, static var compensator (SVC) contributed significant revenue to the market, majorly from North America. Furthermore, the electric utility segment is anticipated to witness the highest growth rate during the forecast period, due to a huge investment in rural electrification and smart grid development by the government.
Key market players have adopted various strategies, such as new product launch, business expansion, and strategic alliances to create more awareness about flexible AC transmission system and increase its adoption across various industries.
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