Flexible AC Transmission Equipment: A Global Strategic Business Report
San Jose, California (PRWEB) September 27, 2012
Follow us on LinkedIn – Unstable distribution and transmission network leads to power outages and FACTS (Flexible Alternating Current Transmission Systems) in this regard ensures safe supply of high-quality energy. FACTS devices assist in integrating renewable generation onto the grid, stabilize AC networks, provide online stability solutions for prevention of blackout and substantially boost the capacity of AC electrical grids. The aging electrical grids across the world are witnessing rapid decline in their reliability. Also, surging global population is posing a major challenge to the worldwide power grid industry. Further, reduction in non-renewable sources of energy and huge transmission losses are the other major threats. Industrializing countries especially need new energy infrastructure as well as lifetime extension of system components, including substations and transformers. Industrialized nations, on the other hand, face transmission bottlenecks due to surge in power trading. Against this backdrop, Flexible AC Transmission Equipment (FACT) is being extensively used to effectively address the voltage fluctuation, transmission loss and several other myriad problems associated with transmission of electricity. Particularly, emerging countries such as India and China are increasingly installing FACTS for long-distance power transmission. In the upcoming years, increasing demand for quality power and reliable networks will drive growth in the market.
A noteworthy trend in the market is the shift towards variable shunt compensation equipment. Owing to their superior technical benefits compared to other compensation equipment, Variable shunt compensation is considerably increasing its market share in the total Flexible AC Transmission Equipment market. Changing load conditions leads to frequency, power factor and system voltage swings that in turn affect the power system. Variable compensation systems are designed to control swings in power factor and voltage. These systems enhance power transfer ability of transmission lines. Despite the higher upfront costs associated with variable compensation systems, the numerous advantages offered by these systems, such as, savings in terms of enhanced power quality, lower maintenance expenditure, greater network reliability and increased energy security, will continue to spur growth in demand. In addition, developments in semiconductor technology will help soften prices in the medium to long-term. Convertible static compensators are examples of state-of-the-art semiconductor-supported variable compensation devices. These compensators with eleven control modes offer features of interline power flow controller (IPFC), unified power flow controller (UPFC), Static synchronous series compensator (SSSC) and STATCOM.
As stated by the new market research report on Flexible AC Transmission Equipment, Asia-Pacific accounts for a major share of the market closely followed by Europe. India and China represent key catalysts for growth in the Asian region. The rapid pace of economic activity in these countries is warranting the need to install new capacity and also upgrade the existing electricity infrastructure to streamline transmission of electricity. Rising investment in power transmission systems will contribute to the growth of FACTS devices such as Variable Compensation and Fixed Compensation designed for compensation and control. Fixed Compensation market is projected to grow at a CAGR of 5.3% over the analysis period in Asia-Pacific.
Key players in the Flexible AC Transmission Equipment marketplace include ABB Ltd., American Superconductor, Alstom SA, Eaton Corporation, GE Energy, Mitsubishi Electric Power Products Inc., S&C Electric Company, Siemens AG, among others.
The research report titled “Flexible AC Transmission Equipment: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, key regional markets, product overview, product introductions/innovations, profiles of major players, and recent industry activity. The report analyzes market data and provides analytics in value for geographic markets, which include United States, Canada, Japan, Europe (France, Germany, UK, Italy, Spain, Russia, Poland, Norway, and Rest of Europe), Asia-Pacific (China, India, Malaysia, Indonesia, Australia, Rest of Asia-Pacific), Middle East/Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East/Africa), and Latin America (Argentina, Brazil, Mexico, Venezuela, Rest of Latin America).
Product markets analyzed in the report include Variable Compensation and Fixed Compensation for the global markets. For the US and Canadian markets, Variable Compensation is further analyzed by Variable Series Compensation (Thyristor Controlled Series Capacitor, Static Synchronous Series Compensator), Variable Shunt Compensation (Static Synchronous Compensator, Static Var Compensator, Synchronous Condenser), and Variable Power Flow Controllers (Unified Power Flow Controller, Unified Power Quality Controller, Phase Shifting Transformer), while Fixed Compensation is further analyzed by Fixed Shunt Capacitors, Fixed Shunt Reactors, Fixed Series Capacitors.
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