DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/lbgcpf/global_flexible) has announced the addition of the "Global Flexible AC Transmission System (FACTS) Market 2014-2018" report to their offering.
The Global Flexible AC Transmission System market to grow at a CAGR of 8% over the period 2013-2018
Flexible AC transmission system (FACTS) is deployed in grid transmission system, which is used to minimize the losses in the transmission line and increase the grid power output. The conventional grid transmission system consists of mechanical switched shunt and series capacitors, reactors, and synchronous generator which are used to minimize the losses. However, the use of these devices results in slow response and consequently lowers the performance of the grid.
The FACTS is used to mitigate the conventional grid transmission line problems with the use of highly efficient semiconductor devices, whose response time is very high, and reduces the faults in the transmission line and minimize the losses.
One major trend in this market is environmental concerns. Increased power consumption has caused an increase in the energy demand from power plants, which increases the construction of new transmission lines, thus creating a negative impact on the environment, for instance, the impact on public health and safety and soil erosion.
According to the report, increased need for congestion management in power systems is one of the main drivers of the market. The increase in power outages is caused by power losses in the overhead transmission lines, which results in transmission congestion, which is mainly caused by insufficient transmission capacity to accommodate all the demand for power within a region. Hence, there is increased need for congestion management in the grid system.
Further, the report states that one of the major challenges in the market is the high cost of flexible alternating current transmission system devices. The cost of replacing or building new FACTS devices is much higher than the cost for traditional transmission systems. The cost of a project is dependent on the size of the project, and the equipment comprises 50 percent of the cost.
- Xian Electric Engineering
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Segmentation by Application
- Geographical Segmentation
- Key Leading Countries
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
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