The Latin America, Middle East and Africa Flexible AC Transmission System Market would witness market growth of 10.5% CAGR during the forecast period (2023-2030).
Flexible alternating current transmission system (FACTS) appliances are a group of power electronic components and systems used in electrical power transmission networks to improve the control and flexibility of alternating current (AC) power transfers. These devices are intended to increase power transmission systems' overall performance and efficacy by regulating voltage, preserving power flow stability, and boosting transmission lines' transfer capacity. FACTS devices are typically installed at critical points within the power grid, such as substations or transmission lines, where they may actively regulate the electrical signals' voltage, impedance, and phase angle. By manipulating these parameters, these devices can mitigate voltage fluctuations, line congestion, and power factor problems. This allows utilities to maximize existing transmission infrastructure, improve system stability, and optimize real-time electricity transmission.
The market is expected to see substantial growth during the projection period due to the development of the electric power transmission system, the rise in demand for controllability of power systems, and the requirement for high dependability in the event of unexpected occurrences. Moreover, the market will benefit from the emergence of smart infrastructures and a rise in reliance on renewable energy sources over the forecast period. In contrast, the market is expected to be restrained during the forecast period by the high initial cost of installation.
Latin America has significant renewable energy potential, particularly in wind, solar, and hydropower. FACTS technologies are essential for effectively integrating these variable and intermittent energy sources into the grid while ensuring stability and mitigating grid fluctuations. FACTS devices can provide dynamic reactive power support to stabilize the grid, maintain voltage levels, and improve overall power quality. FACTS technologies can help reduce transmission and distribution losses, which is significant in some parts of Latin America. Therefore, the market expansion will increase in the coming years in this region due to the abovementioned factors.
The Brazil market dominated the LAMEA Flexible AC Transmission System Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $36.1 Million by 2030. The Argentina market is showcasing a CAGR of 11.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 10.2% during (2023 - 2030).
Based on Controller, the market is segmented into Static VAR Compensator (SVC), Static Synchronous Compensator (STATCOM), Unified Power, low Controller (UPFC), Thyristor Controlled Series Compensator (TCSC), and Others. Based on Vertical, the market is segmented into Electric Utility, Oil & Gas, Railways, and Others. Based on Compensation Type, the market is segmented into Series Compensation, Combined series-shunt Compensation, and Shunt Compensation. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Flexible AC Transmission System Market is Projected to reach USD 1.8 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include ABB Group, Adani Power Limited, Alstom SA, CG Power and Industrial Solutions Limited, Eaton Corporation PLC, General Electric Company, Hyosung Corporation, Mitsubishi Electric Corporation, NR Electric Co., Ltd., Siemens AG.
Scope of the Study
Market Segments Covered in the Report:
By Controller
- Static VAR Compensator (SVC)
- Static Synchronous Compensator (STATCOM)
- Unified Power Flow Controller (UPFC)
- Thyristor Controlled Series Compensator (TCSC)
- Others
By Vertical
- Electric Utility
- Oil & Gas
- Railways
- Others
By Compensation Type
- Series Compensation
- Combined series-shunt Compensation
- Shunt Compensation
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Adani Power Limited
- Alstom SA
- CG Power and Industrial Solutions Limited.
- Eaton Corporation PLC
- General Electric Company
- Hyosung Corporation
- Mitsubishi Electric Corporation
- NR Electric Co., Ltd.
- Siemens AG
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Flexible AC Transmission System Market, by Controller
1.4.2 LAMEA Flexible AC Transmission System Market, by Vertical
1.4.3 LAMEA Flexible AC Transmission System Market, by Compensation Type
1.4.4 LAMEA Flexible AC Transmission System Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. LAMEA Flexible AC Transmission System Market, by Controller
4.1 LAMEA Static VAR Compensator (SVC) Market, by Country
4.2 LAMEA Static Synchronous Compensator (STATCOM) Market, by Country
4.3 LAMEA Unified Power Flow Controller (UPFC) Market, by Country
4.4 LAMEA Thyristor Controlled Series Compensator (TCSC) Market, by Country
4.5 LAMEA Others Market, by Country
Chapter 5. LAMEA Flexible AC Transmission System Market, by Vertical
5.1 LAMEA Electric Utility Market, by Country
5.2 LAMEA Oil & Gas Market, by Country
5.3 LAMEA Railways Market, by Country
5.4 LAMEA Others Market, by Country
Chapter 6. LAMEA Flexible AC Transmission System Market, by Compensation Type
6.1 LAMEA Series Compensation Market, by Country
6.2 LAMEA Combined series-shunt Compensation Market, by Country
6.3 LAMEA Shunt Compensation Market, by Country
Chapter 7. LAMEA Flexible AC Transmission System Market, by Country
7.1 Brazil Flexible AC Transmission System Market
7.1.1 Brazil Flexible AC Transmission System Market, by Controller
7.1.2 Brazil Flexible AC Transmission System Market, by Vertical
7.1.3 Brazil Flexible AC Transmission System Market, by Compensation Type
7.2 Argentina Flexible AC Transmission System Market
7.2.1 Argentina Flexible AC Transmission System Market, by Controller
7.2.2 Argentina Flexible AC Transmission System Market, by Vertical
7.2.3 Argentina Flexible AC Transmission System Market, by Compensation Type
7.3 UAE Flexible AC Transmission System Market
7.3.1 UAE Flexible AC Transmission System Market, by Controller
7.3.2 UAE Flexible AC Transmission System Market, by Vertical
7.3.3 UAE Flexible AC Transmission System Market, by Compensation Type
7.4 Saudi Arabia Flexible AC Transmission System Market
7.4.1 Saudi Arabia Flexible AC Transmission System Market, by Controller
7.4.2 Saudi Arabia Flexible AC Transmission System Market, by Vertical
7.4.3 Saudi Arabia Flexible AC Transmission System Market, by Compensation Type
7.5 South Africa Flexible AC Transmission System Market
7.5.1 South Africa Flexible AC Transmission System Market, by Controller
7.5.2 South Africa Flexible AC Transmission System Market, by Vertical
7.5.3 South Africa Flexible AC Transmission System Market, by Compensation Type
7.6 Nigeria Flexible AC Transmission System Market
7.6.1 Nigeria Flexible AC Transmission System Market, by Controller
7.6.2 Nigeria Flexible AC Transmission System Market, by Vertical
7.6.3 Nigeria Flexible AC Transmission System Market, by Compensation Type
7.7 Rest of LAMEA Flexible AC Transmission System Market
7.7.1 Rest of LAMEA Flexible AC Transmission System Market, by Controller
7.7.2 Rest of LAMEA Flexible AC Transmission System Market, by Vertical
7.7.3 Rest of LAMEA Flexible AC Transmission System Market, by Compensation Type
Chapter 8. Company Profiles
8.1 ABB Group
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 SWOT Analysis
8.2 Adani Power Limited
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 Alstom SA
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 SWOT Analysis
8.4 CG Power & Industrial Solutions Ltd. (Murugappa Group)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 SWOT Analysis
8.5 Eaton Corporation PLC
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 SWOT Analysis
8.6 General Electric Company
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Product Launches and Product Expansions:
8.6.6 SWOT Analysis
8.7 Hyosung Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Research & Development Expenses
8.7.4 SWOT Analysis
8.8 Mitsubishi Electric Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Product Launches and Product Expansions:
8.8.6 SWOT Analysis
8.9 NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
8.9.1 Company Overview
8.9.2 SWOT Analysis
8.10. Siemens AG
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Acquisition and Mergers:
8.10.6 SWOT Analysis
TABLE 1 LAMEA Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 3 LAMEA Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 4 LAMEA Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 5 LAMEA Static VAR Compensator (SVC) Market, by Country, 2019 - 2022, USD Million
TABLE 6 LAMEA Static VAR Compensator (SVC) Market, by Country, 2023 - 2030, USD Million
TABLE 7 LAMEA Static Synchronous Compensator (STATCOM) Market, by Country, 2019 - 2022, USD Million
TABLE 8 LAMEA Static Synchronous Compensator (STATCOM) Market, by Country, 2023 - 2030, USD Million
TABLE 9 LAMEA Unified Power Flow Controller (UPFC) Market, by Country, 2019 - 2022, USD Million
TABLE 10 LAMEA Unified Power Flow Controller (UPFC) Market, by Country, 2023 - 2030, USD Million
TABLE 11 LAMEA Thyristor Controlled Series Compensator (TCSC) Market, by Country, 2019 - 2022, USD Million
TABLE 12 LAMEA Thyristor Controlled Series Compensator (TCSC) Market, by Country, 2023 - 2030, USD Million
TABLE 13 LAMEA Others Market, by Country, 2019 - 2022, USD Million
TABLE 14 LAMEA Others Market, by Country, 2023 - 2030, USD Million
TABLE 15 LAMEA Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 16 LAMEA Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 17 LAMEA Electric Utility Market, by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA Electric Utility Market, by Country, 2023 - 2030, USD Million
TABLE 19 LAMEA Oil & Gas Market, by Country, 2019 - 2022, USD Million
TABLE 20 LAMEA Oil & Gas Market, by Country, 2023 - 2030, USD Million
TABLE 21 LAMEA Railways Market, by Country, 2019 - 2022, USD Million
TABLE 22 LAMEA Railways Market, by Country, 2023 - 2030, USD Million
TABLE 23 LAMEA Others Market, by Country, 2019 - 2022, USD Million
TABLE 24 LAMEA Others Market, by Country, 2023 - 2030, USD Million
TABLE 25 LAMEA Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 26 LAMEA Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 27 LAMEA Series Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 28 LAMEA Series Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 29 LAMEA Combined series-shunt Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 30 LAMEA Combined series-shunt Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 31 LAMEA Shunt Compensation Market, by Country, 2019 - 2022, USD Million
TABLE 32 LAMEA Shunt Compensation Market, by Country, 2023 - 2030, USD Million
TABLE 33 LAMEA Flexible AC Transmission System Market, by Country, 2019 - 2022, USD Million
TABLE 34 LAMEA Flexible AC Transmission System Market, by Country, 2023 - 2030, USD Million
TABLE 35 Brazil Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 36 Brazil Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 37 Brazil Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 38 Brazil Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 39 Brazil Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 40 Brazil Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 41 Brazil Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 42 Brazil Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 43 Argentina Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 44 Argentina Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 45 Argentina Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 46 Argentina Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 47 Argentina Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 48 Argentina Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 49 Argentina Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 50 Argentina Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 51 UAE Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 52 UAE Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 53 UAE Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 54 UAE Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 55 UAE Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 56 UAE Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 57 UAE Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 58 UAE Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 59 Saudi Arabia Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 60 Saudi Arabia Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 61 Saudi Arabia Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 62 Saudi Arabia Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 63 Saudi Arabia Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 64 Saudi Arabia Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 65 Saudi Arabia Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 66 Saudi Arabia Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 67 South Africa Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 68 South Africa Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 69 South Africa Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 70 South Africa Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 71 South Africa Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 72 South Africa Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 73 South Africa Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 74 South Africa Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 75 Nigeria Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 76 Nigeria Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 77 Nigeria Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 78 Nigeria Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 79 Nigeria Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 80 Nigeria Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 81 Nigeria Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 82 Nigeria Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 83 Rest of LAMEA Flexible AC Transmission System Market, 2019 - 2022, USD Million
TABLE 84 Rest of LAMEA Flexible AC Transmission System Market, 2023 - 2030, USD Million
TABLE 85 Rest of LAMEA Flexible AC Transmission System Market, by Controller, 2019 - 2022, USD Million
TABLE 86 Rest of LAMEA Flexible AC Transmission System Market, by Controller, 2023 - 2030, USD Million
TABLE 87 Rest of LAMEA Flexible AC Transmission System Market, by Vertical, 2019 - 2022, USD Million
TABLE 88 Rest of LAMEA Flexible AC Transmission System Market, by Vertical, 2023 - 2030, USD Million
TABLE 89 Rest of LAMEA Flexible AC Transmission System Market, by Compensation Type, 2019 - 2022, USD Million
TABLE 90 Rest of LAMEA Flexible AC Transmission System Market, by Compensation Type, 2023 - 2030, USD Million
TABLE 91 Key Information – ABB Group
TABLE 92 Key Information – Adani Power Limited
TABLE 93 Key Information – aLSTOM SA
TABLE 94 Key Information – CG Power & Industrial Solutions Ltd.
TABLE 95 key information – Eaton Corporation PLC
TABLE 96 Key Information – General Electric Company
TABLE 97 Key Information – HYOSUNG Corporation
TABLE 98 key information – Mitsubishi Electric Corporation
TABLE 99 Key information – NR Electric Co., Ltd.
TABLE 100 Key Information – Siemens AG
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Flexible AC Transmission System Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Flexible AC Transmission System Market
FIG 4 Porter’s Five Forces Analysis - Flexible AC Transmission System Market
FIG 5 LAMEA Flexible AC Transmission System Market share, by Controller, 2022
FIG 6 LAMEA Flexible AC Transmission System Market share, by Controller, 2030
FIG 7 LAMEA Flexible AC Transmission System Market, by Controller, 2019 - 2030, USD Million
FIG 8 LAMEA Flexible AC Transmission System Market share, by Vertical, 2022
FIG 9 LAMEA Flexible AC Transmission System Market share, by Vertical, 2030
FIG 10 LAMEA Flexible AC Transmission System Market, by Vertical, 2019 - 2030, USD Million
FIG 11 LAMEA Flexible AC Transmission System Market share, by Compensation Type, 2022
FIG 12 LAMEA Flexible AC Transmission System Market share, by Compensation Type, 2030
FIG 13 LAMEA Flexible AC Transmission System Market, by Compensation Type, 2019 - 2030, USD Million
FIG 14 LAMEA Flexible AC Transmission System Market share, by Country, 2022
FIG 15 LAMEA Flexible AC Transmission System Market share, by Country, 2030
FIG 16 LAMEA Flexible AC Transmission System Market, by Country, 2019 - 2030, USD Million
FIG 17 SWOT Analysis: ABB Group
FIG 18 SWOT Analysis: Adani Power Limited
FIG 19 SWOT Analysis: Alstom SA
FIG 20 SWOT Analysis: CG Power & Industrial Solutions Ltd.
FIG 21 SWOT Analysis: Eaton Corporation PLC
FIG 22 SWOT Analysis: General electric (GE) Co.
FIG 23 SWOT Analysis: Hyosung Corporation
FIG 24 SWOT Analysis: Mitsubishi Electric Corporation
FIG 25 SWOT Analysis: NR Electric Co., Ltd.
FIG 26 SWOT Analysis: Siemens AG