Excitation Systems Market, by Type (Static and Brushless), Controller Type (Analog and Digital), Application (Synchronous Generators and Synchronous Motors), End User (Power Generation, Heavy Industries, and OEMs) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Excitation Systems Market Overview
The global excitation systems market size is projected to reach USD 3.5 billion by 2026 at a CAGR of 4.5% from USD 2.8 billion in 2021 during the forecast period 2021-2028.
Excitation system is defined as a system which provides field current to the rotor winding of a generator. Well-designed excitation system provides reliability of operation, stability and fast transient response. There are 3 major types of excitation system are 1. Direct current commutator exciters, alternator supplied rectifier excitation system, and static excitation system.
With the significant increase in the demand for synchronous machines along with the added advantage provided by them are some of the factors that have supported long-term expansion for Excitation Systems Market.
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The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The decreased supply for electricity along with the decline in business activities have impacted the market in a negative way.
Excitation Systems Market Regional Analysis
Asia Pacific is expected to be the largest market during the forecast period. The increased capacity in terms of renewable energy has led to the expansion of market in the region.
Excitation Systems Market Competitive Landscape
Key Players
• ABB
• Siemens Energy
• General Electric
• ANDRITZ Group
• Voith Group
• Emerson
• Melrose Industries PLC
• Mitsubishi Electric Corporation
• WEG
• Tenel
• S.R.O.
• Basler Electric
• Automation Electronics India
• Amtech Power Ltd.
• Reivax
• Veo Oy
• L & S Electric
• PLUTON Group
• NR Electric Co., Ltd
• Birr Machines
• SVEA Power
• Excitation & Engineering Services Ltd,
• Nelumbo Icona Controls Pvt. Ltd
• F&S PROZESSAUTOMATION GmbH
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Excitation Systems Market Recent Developments
• In November 2020, Emerson signed a contract offered by Oklahoma Gas and Electric (OG&E) for the OG&E Redbud combined-cycle plant in order to upgrade and unify nine disparate control systems across four units.
• In November 2020, ABB was able to win a contract for providing excitation systems and speed regulation for four generator units at the Governador José Richa hydropower plant on the Iguazu River.
Reasons to Acquire in the Excitation Systems Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Excitation Systems Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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