Global Excitation Systems Market was valued at US$ 2.30 Bn in 2020 and is expected to reach US$ 3.10 Bn by 2026, at a CAGR of 3.80% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Excitation systems are used to offer necessary field current to the rotor winding of the synchronous machine or generator. An excitation system provides feature such as high reliability of operation, ease of maintenance, stability and fast transient response under all service conditions.
The growing adoption of excitation systems in synchronous machines owing to the capability of safeguarding long-term reliable operations is expected to drive the global excitation systems market. Increasing demand for unregulated power supply is one of the key drivers in the global excitation systems market. Furthermore, the Complex design of excitation systems is leading to difficulty in maintenance, which is limiting the growth in the global excitation systems market.
Increasing use of excitation systems in the solar and wind power applications and the rise in demand for synchronous machines in the HVDC network are the opportunities in the global excitation systems market. Improvement of voltage source converter excitation systems over conventional thyristor-based static excitation systems as a substitute is the challenge in the global excitation systems market.
The objective of the report is to present a comprehensive assessment of the global excitation systems market and contains considerate insights, facts, historical data, industry-validated market data, and projections with an appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by material, type, end-user, and region and, projects the global market size.
The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Global Excitation Systems Market Segment Analysis:
The Brushless excitation systems segment held a large share of the market in 2019 and is expected to grow at a high rate of CAGR during the forecast period. In brushless excitation systems, the field current is provided to synchronous machines without exhausting slip rings and carbon brushes. This system does not require any carbon brush losses owing to its low contact resistance, which results in low maintenance as related to static excitation systems.
Digital control is expected to share significant growth in the global excitation systems market. These control systems offer a significant improvement in generator performance by enlightening transient and dynamic stability. Easier conversion of analog to digital controls is one of the key factors that is estimated to adoptive the demand for digital control systems during the forecast period. The digital control excitation system provides the enhanced performance.
Synchronous generators are projected to be the fast-growing segment during the forecast period. Increasing demand for generators in hydropower generation is estimated to sustenance the demand for excitation systems. Furthermore, the increasing popularity of synchronous machines is estimated to propel the growth of global excitation systems. Synchronous machines need excitation systems as they perform a key role in regulating the voltage output, shelter the stator and rotor, and regulate plant voltage and reactive power automatically.
Global Excitation Systems Market Regional Analysis:
Geographically, Asia Pacific is expected to dominate the global excitation systems market. The dominant position in the market is attributed to the increasing renewable energy-based capacity. The upsurge in demand for excitation systems in this region can be accredited to the increasing demand for uninterrupted and reliable power supply. The growing investments in renewable energy projects are also estimated to propel the growth of the excitation systems market in the region.
Global Excitation Systems Market, Key Highlights:
• Global Excitation Systems Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Excitation Systems Market
• Global Excitation Systems Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Excitation Systems Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Excitation Systems Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Excitation Systems Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
The Scope of the Report Global Excitation Systems Market: Inquire before buying
Global Excitation Systems Market, by Type
• Static
• Brushless
Global Excitation Systems Market, by Controller Type
• Analog
• Digital
Global Excitation Systems Market, by Application
• Synchronous Generators
• Synchronous Machines
Global Excitation Systems Market, by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Global Excitation Systems Market Key Players
• Rolls Royc
• Voith
• Tenel
• Altex Electric
• Automation Electronics
• Amtech Power
• Andritz
• Basler Electric
• Konear Inem
• Siemen
• GE
• VEO OY
• Rolls Royce Holdings plc
• KONCAR- Electrom
• Nidec ASI spa
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