Flexible AC Transmission Systems Market annual installation will hit 20000 MVAr by 2025
132kV to 220kV Flexible AC Transmission Systems Market will retain moderate growth on account of prevailing expansion of electric transmission infrastructure across residential & commercial installations. Aesthetic proximities coupled with flexible product configurations are the major advantages encouraging the product penetration. Furthermore, incorporation of sustainable energy network has compelled installers and utilities to focus on refurbishing the traditional electrical network.
Global Flexible AC Transmission Systems Market is poised to surpass USD 2.5 billion by 2025, as reported in the latest study by Global Market Insights, Inc. Improved system stability, lesser installation time and increase in transmission capacity are few essential parameters augmenting the installation of series FACTS market. Moreover, favorable consumer inclination toward the installation of these products to safeguard the system peripherals coupled with enhanced operational life of the electric network will further boost the industry dynamics.
Utility grid networks have been substantially influenced by government and regulatory directives toward the deployment of electric infrastructure. In addition, incorporation of renewable energy infrastructure accompanied by soaring fund flows from local regulatory institutions and authorities including the IFC, world bank and similar organizations across emerging nations will positively impact the industry landscape.
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Voltage fluctuations, ability to limit unbalanced loads, resonance across variable reactive or active loads coupled with power oscillations have constituted a positive landscape for static var compensator units. Rising incorporation of energy efficient, secure, advanced fire-resistant and reliable electric equipment will further boost the FACTS industry.
Flexible AC Transmission Systems Market across Africa, Asia Pacific and Middle East has observed a substantial growth in conjunction to the increasing demand for efficient transmission & distribution technologies. Growing demand for retrofitting of prevailing electrical coupled with rising fund allocation across the electricity sector will enhance the industry outlook. Regulators across Saudi Arabia, in 2018 have proposed to capitalize amount worth USD 130 billion in their Water & Energy projects.
Prominent flexible AC transmission systems market players include BHEL, GE, ABB, Siemens, Mitsubishi Electric, NR Electric, Rongxin, Infineon, Hyosung, American Superconductor and Ingeteam.
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