
According to a new report by Allied Market Research, titled, Flexible AC Transmission System Market by Compensation Type (Series Compensation, Shunt Compensation, and Combined Series-Shunt Compensation), Controller (Static Synchronous Compensator (STATCOM), Static Var Compensator (SVC), Unified Power Flow Controllers (UPFC), Thyristor Controlled Series Compensator (TCSC), and Others), and Industry Vertical (Oil & Gas, Electric Utility, Railways, and Others): Global Opportunity Analysis and Industry Forecast, 2017-2023, the global Flexible AC transmission system market was valued at $508 million in 2016, and is projected to reach at $1,034 million by 2023, growing at a CAGR of 10.7% from 2017 to 2023.