Fixed Series Compensation Market Share

North American Market Forecast

North America fixed series compensation market is poised to garner 46% of the revenue share by the end of 2037. The increasing electricity demand and new energy mix made North America a major demand center for series compensation. As per statistics in 2022, the main energy consumption in North America is estimated to be approximately 118.78 exajoules. Also, 2022 saw a 3.2% increase in the overall end-use consumption of energy in the United States over 2021. Retail electricity sales to the commercial sector increased by around 4.7% in 2022 compared to 2021, while sales to the residential sector increased by approximately 2.6% in 2022. the presence of prominent market players in the region is propelling the market’s growth in the region. In the upcoming years, the companies are to modify their transmission incentives according to the changing transmission demand to ensure safety and more transmission lines will be backed up by series compensated systems. As transmission systems increase in complexity, companies look at cost-effective solutions to increase power transfer with installing fixed-series compensation systems. With many projects slated for the near future, companies that offer these options are sure to gain, thus propelling the fixed series compensation market growth.

European Market Statistics

The European fixed series compensation market is expected to hold a significant revenue share owing to the region’s progressive energy policies and a commitment to grid modernization. The European power industry calls for increasing investments in aging network infrastructure by 84 %t a year until 2050. With Europe’s emphasis on renewable energy integration and the expansion of cross-border electricity networks, FSC technology plays a pivotal role. The region's diverse topography and interconnected grids create challenges in maintaining grid stability and managing power flow. FSC systems offer solutions by bolstering transmission capacity, reducing losses, and facilitating the integration of intermittent renewable sources. However, stringent regulatory frameworks, varying grid infrastructure among European countries, and the need for significant investments hinder widespread adoption. Collaborations between transmission system operators, technology innovators, and policymakers drive research and pilot projects. As Europe continues its transition toward sustainable energy, FSC emerges as a critical tool in fortifying grid infrastructure, enabling efficient power transmission, and supporting the continent’s ambitious renewable energy goals.