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Global Market Size, Competitive Landscape, Trends and Analysis to 2020
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The growth of the Flexible Alternating Current Transmission System FACTS market is mainly driven by the growing demand in the markets of emerging economies in the Asia Pacific region. With increased economic growth, governments of many countries in the region have drawn up major investment plans in the energy infrastructure. The rising population in the cities of this region will increase the demand for power, and so, the markets are expected to grow more than the global growth rate of the cable industry. Moreover, the governments of many Asian countries have plans for larger rural electrification as well. This would also be an important driver of the FACTS market globally.
The global FACTS market has grown historically and is set for strong growth in the future as well. The market is expected to grow at a CAGR of 4.5% from 2010 to 2020 with revenues increasing from $1270m in 2010 to $1,973m in 2020.
The Global FACTS Market is Clearly Dominated by One Company
Currently, ABB Ltd is the clear leader of the global FACTS market. It has completely dominated the FACTS market in major countries all over the world with no other company coming even close to the revenues earned by ABB. Siemens used to be an important player in the FACTS market and provided some stiff competition to ABB but after 2005, its share fell drastically. It was not
able to corner major contracts and as a result ABB Ltd has enjoyed complete dominance in this market.
China, Along with all Major Countries Globally, Has Shown Significant Growth in the T&D Cables Industry
China has shown substantial growth in the transmission and distribution market. The transmission lines have shown substantial growth in terms of length. The length of the transmission lines increased from 661,088 Circuit Kilometer (Ckm) in 2000 to 1,362,377 CKm in 2010. This represents a CAGR of 3.56% for the period 2000–2010.
The transmission lines are expected to increase further in future as well, with transmission lines expected to increase to 3,223,850 CKm in 2020.
GlobalData’s “Flexible Alternating Current Transmission Systems (FACTS) - Global Market Size, Competitive Landscape, Trends and Analysis to 2020” gives detailed information on the Global FACTS market and provides historical and forecast numbers for revenues, volumes and average price up to 2020. The research analyzes trends in the global FACTS market and also detailed analysis for the leading countries in FACTS business. This, coupled with competitive benchmarking of the top market participants provides a comprehensive understanding of the market’s competitive scenario.
FACTS is a system used to efficiently control and increase the capability to transfer power of the network. This is done by providing effective control to one or several AC transmission system parameters. FACTS are used to control the voltage, impedance and also the phase angle of the high voltage AC lines.
The increasing demand for electricity owing to the growing population and economic development worldwide is the most important factor in the growth of the global FACTS market. With many new coal fired plants scheduled to come up in the near future all over the world and also the increased investments made in the renewable energy globally, the FACTS market is expected to grow and experience significant activities in the future.
Currently ABB Ltd is the clear leader of the global FACTS market. It has completely dominated the FACTS business in major countries all over the world, with no other organizations coming even close to the revenues earned by ABB in the FACTS business. Siemens used to be an important player in the FACTS market and was providing stiff competition to ABB in this business. However, after 2005, the share of this organization fell drastically. It was not able to achieve major contracts in this market and as a result ABB Ltd enjoyed complete dominance.
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