Flexible AC Transmission System (FACTS) Market Poised for Steady Growth: Insights into Drivers, Trends, and Revenue Predictions

The flexible AC transmission system (FACTS) market has demonstrated robust growth in recent years. The market size is estimated to rise from $1.38 billion in 2024 to $1.46 billion in 2025, at a compound annual growth rate (CAGR) of 5.9%. Factors contributing to this growth include concerns around grid reliability, ageing power infrastructure, electricity market deregulation, transmission line congestion, the global expansion of high-voltage networks and environmental concerns.

Looking ahead, the flexible AC transmission system (FACTS) market is predicted to enjoy significant growth, expanding to $1.91 billion in 2029 at a CAGR of 7.0%. Key drivers include the increased penetration of electric vehicles, grid resilience against natural disasters, transition to renewable energy, cybersecurity concerns, and decentralized energy generation. Upcoming trends include multi-terminal HVDC systems, integration of energy storage, energy efficiency, and conservation, voltage source converters (VSC) in facts, next-generation facts technologies, and the integration of advanced power electronics.

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What Are the Key Growth Drivers of the Flexible AC Transmission System (FACTS) Market?
The growth of the flexible AC transmission systems market is being propelled by the expansion of grid infrastructure. Flexible AC Transmission Networks (FACTS) are used in this infrastructure to increase transmission line capacity and improve system stability. The International Energy Agency reported in 2024 that investment in electricity grids increased by approximately 8% in 2022, and stressed the need for smart grid investment to more than double through 2030 to reach the goal of Net Zero Emissions by 2050.

What Are the Primary Segments Within the Global Flexible AC Transmission System (FACTS) Market?
1) By product: Static Synchronous Compensator (STATCOM), Static Var Compensator (SVC), Unified Power Flow Controllers (UPFC), Thyristor Controlled Series Compensator (TCSC)
2) By compensation type: Shunt Compensation, Series Compensation, Combined Series-Shunt Compensation
3) By functionality: Voltage Control, Network Stabilization, Transmission Capacity
4) By application: Utilities, Renewables, Industrial, Railways, Other Applications

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What Are the Key Companies Operating in the Flexible AC Transmission System (FACTS) Market?
Major players in the flexible AC transmission system (FACTS) market include ABB Ltd., Alstom SA, Mitsubishi Electric Corporation, CG Power and Industrial Solutions Limited, General Electric Company, Siemens AG, Eaton Corporation plc, NR Electric Co. Ltd., Liaoning Rongxin Xingye Power Technology Co. Ltd., Toshiba Corporation, American Electric Power Company Inc., S&C Electric Company, Arteche Group, Rongxin Power Electronic Co. Ltd., Sieyuan Electric Co.Ltd., Fuji Electric Co. Ltd., LSIS Co. Ltd., Bharat Heavy Electricals Limited, Schneider Electric SE, Hyosung Heavy Industries Corporation, Infineon Technologies AG, Hitachi ABB Power Grids Ltd., Crompton Greaves Limited.

What Trends Are Emerging in the Flexible AC Transmission System (FACTS) Market?
Technological innovation is a key trend within the flexible AC transmission systems market. Companies are adopting new technologies to maintain market position. For example, Siemens Energy AG launched UPFC Plus (Unified Power Flow Controller), a combination of STATCOM (Static Synchronous Compensator) and Static Synchronous Series Compensator (SSSC) based on VSC (Voltage Source Converter) technology. This technology assists in grid stabilization and expands the ability of grid operators to respond quickly to shifting power demand.

Which Region is Expected to Have the Highest Growth in the Flexible AC Transmission System (FACTS) Market?
In 2024, North America emerged as the largest region in the flexible AC transmission systems (FACTS) market, followed by Europe, which is expected to be the fastest-growing region during the forecast period. The regions covered in the flexible AC transmission system (FACTS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Does the Flexible AC Transmission System (FACTS) Market Report 2025 Offer?
A flexible AC transmission system (FACTS) is a set of tools used to enhance the capability of electrical networks for static and dynamic transmission. It regulates voltage, oscillation damping, transient stability improvement, and power flow in transmission lines. The Flexible AC Transmission System (FACTS) Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

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