Global Excitation Systems Market – Industry Analysis and Forecast (2018-2026)
The Global excitation systems market was valued at US$ 2.30 Bn in 2017 and is expected to reach US$ 3.10 Bn by 2026, at a CAGR of 3.80 % during a forecast period.
Excitation systems are used to offer the necessary field current to the rotor winding of the synchronous machine or generator. An excitation system provides the feature such as high reliability of operation, ease of maintenance, stability and fast transient response under all service conditions.
Growing adoption of excitation systems in synchronous machines owing to the capability of safeguarding long-term reliable operations are expected to drive global excitation systems market. Increasing demand for unregulated power supply is one of the key drivers in the global excitation systems market. Furthermore, Complex design of excitation systems is leading to difficulty in maintenance, which is limiting the growth in the global excitation systems market.
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Increasing use of excitation system in the solar and wind power applications and 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 appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project 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 global excitation systems 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.
Brushless excitation systems segment held the large share of the global excitation systems market in 2017 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 brushes 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. This 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. 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.
Geographically, Asia Pacific is expected to dominate the global excitation systems market. The dominance 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 excitation systems market in the region.
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The Scope of the Report Global Excitation Systems Market
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
Key players analyzed in the Report:
• ABB
• Rolls Royc
• Voith
• Tenel
• Altex Electric
• Automation Electronics
• Amtech Power
• Andritz
• Basler Electric
• Konear Inem
• Siemen
• GE
• VEO OY
• Rolls Royce Holdings plc
Browse Full Report with Facts and Figures of Excitation Systems Market Report at: https://www.maximizemarketresearch.com/market-report/global-excitation-systems-market/26209/
MAJOR TOC OF THE REPORT
Chapter One: Excitation Systems Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Excitation Systems Market Competition, by Players
Chapter Four: Global Excitation Systems Market Size by Regions
Chapter Five: North America Excitation Systems Revenue by Countries
Chapter Six: Europe Excitation Systems Revenue by Countries
Chapter Seven: Asia-Pacific Excitation Systems Revenue by Countries
Chapter Eight: South America Excitation Systems Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Excitation Systems by Countries
Chapter Ten: Global Excitation Systems Market Segment by Type
Chapter Eleven: Global Excitation Systems Market Segment by Application
Chapter Twelve: Global Excitation Systems Market Size Forecast (2019-2026)
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