Excitation Systems Market Forecasts to 2028 – Global Analysis By Controller Type (Analog, Digital), Application (Synchronous Generators, Synchronous Motors), Channel (Direct, Indirect), End User (Marine, OEM) and By Geography
According to Stratistics MRC, the Global Excitation Systems Market is accounted for $2.58 billion in 2020 and is expected to reach $3.93 billion by 2028 growing at a CAGR of 5.4% during the forecast period. Increase in demand for uninterrupted and reliable power supply in several industries, rising demand for synchronous machines by industrial users, and increasing the popularity of solar and wind power are driving the market growth. However, complex design leading to difficulty in maintenance is hampering the growth of the market.
An excitation system is used to produce the flux by passing current in the windings and thus provides field current to the rotor winding of a synchronous machine. These systems are undergoing continuous improvements in line with larger and complex power systems. Such systems provide stability and reliability of the working operation of the synchronous machines.
Based on the controller type, the digital segment is going to have lucrative growth during the forecast period due to the easy conversion of analog to digital controls. These systems provide a significant improvement in generator performance by improving transient as well as dynamic stability. By geography, Asia Pacific is going to have high growth during the forecast period owing to the rapidly growing renewable energy-based capacity additions, development of infrastructure related to smart cities, growing industrialization and urbanization.
Some of the key players profiled in the Excitation Systems Market include Veo Oy, ABB, Siemens Energy, WEG, Nelumbo Icona Controls Pvt. Ltd, Basler Electric, Emerson, Excitation & Engineering Services Ltd, F&S PROZESSAUTOMATION GmbH, General Electric, KONČAR Group, L & S Electric, Melrose Industries PLC, Nidec Corporation , Automation Electronics India, Mitsubishi Electric Corporation, PLUTON Group, Reivax, S.R.O., ANDRITZ Group, SVEA Power, Tenel, Amtech Power Ltd. and Voith Group.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 2.58 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
5.4% |
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Predicted 2028 Value: |
USD 3.93 billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
200 |
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Chapters Covered: |
Type, Controller Type, Component, Application, Excitation Method, Sales Channel, End User and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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Types Covered:
• DC (Direct Current) Excitation System
• AC (Alternating Current) Excitation System
• Static Excitation System
Controller Types Covered:
• Analog
• Digital
Components Covered:
• Automatic Voltage Regulator (AVR)
• Exciter
• Power System Stabilizer (PSS)
Applications Covered:
• Synchronous Generators
• Synchronous Motors
Excitation Methods Covered:
• Auxiliary Winding (AUX)
• Excitation Boost System (EBS)
• Permanent Magnet Generator (PMG)
• Shunt or Self Excited
Sales Channels Covered:
• Direct
• Indirect
End Users Covered:
• Power Generation Industry
• Heavy Industries
• Marine
• Original Equipment Manufacturer (OEM)
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Excitation Systems Market is majorly driven by increasing the popularity of solar and wind power, rising demand for synchronous machines by industrial users and increase in demand for uninterrupted and reliable power supply in several industries.
The digital segment is growing at a highest CAGR owing to the easy conversion of analog to digital controls and these systems provide a significant improvement in generator performance by improving transient as well as dynamic stability.
North America dominated with a significant market share due to the increasing investments in the development of solar and wind power generation projects in the region, rise in the demand for green energy and stringent government regulations.
Asia Pacific market is growing at a highest CAGR owing to the growing industrialization and urbanization, rapidly growing renewable energy based capacity additions supporting the demand for excitation systems for synchronous machines and development of infrastructure related to smart cities.
Key players in Excitation Systems Market include Veo Oy, ABB, Siemens Energy, WEG, Nelumbo Icona Controls Pvt. Ltd, Basler Electric, Emerson, Excitation & Engineering Services Ltd, F&S PROZESSAUTOMATION GmbH, General Electric, KON?AR Group, L & S Electric, Melrose Industries PLC, Nidec Corporation, Automation Electronics India, Mitsubishi Electric Corporation, PLUTON Group, Reivax, S.R.O., ANDRITZ Group, SVEA Power, Tenel, Amtech Power Ltd. and Voith Group.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Excitation Systems Market, By Type
5.1 Introduction
5.2 DC (Direct Current) Excitation System
5.3 AC (Alternating Current) Excitation System
5.3.1 Rotating Thyristor Excitation System
5.3.2 Brushless Excitation System
5.4 Static Excitation System
6 Global Excitation Systems Market, By Controller Type
6.1 Introduction
6.2 Analog
6.3 Digital
7 Global Excitation Systems Market, By Component
7.1 Introduction
7.2 Automatic Voltage Regulator (AVR)
7.3 Exciter
7.4 Power System Stabilizer (PSS)
8 Global Excitation Systems Market, By Application
8.1 Introduction
8.2 Synchronous Generators
8.3 Synchronous Motors
9 Global Excitation Systems Market, By Excitation Method
9.1 Introduction
9.2 Auxiliary Winding (AUX)
9.3 Excitation Boost System (EBS)
9.4 Permanent Magnet Generator (PMG)
9.5 Shunt or Self Excited
10 Global Excitation Systems Market, By Sales Channel
10.1 Introduction
10.2 Direct
10.3 Indirect
11 Global Excitation Systems Market, By End User
11.1 Introduction
11.2 Power Generation Industry
11.2.1 Thermal Power Plants
11.2.2 Hydroelectric Power Plants
11.3 Heavy Industries
11.4 Marine
11.5 Original Equipment Manufacturer (OEM)
12 Global Excitation Systems Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Veo Oy
14.2 ABB
14.3 Siemens Energy
14.4 WEG
14.5 Nelumbo Icona Controls Pvt. Ltd
14.6 Basler Electric
14.7 Emerson
14.8 Excitation & Engineering Services Ltd
14.9 F&S PROZESSAUTOMATION GmbH
14.10 General Electric
14.11 KONČAR Group
14.12 L & S Electric
14.13 Melrose Industries PLC
14.14 Nidec Corporation
14.15 Automation Electronics India
14.16 Mitsubishi Electric Corporation
14.17 PLUTON Group
14.18 Reivax
14.19 S.R.O.
14.20 ANDRITZ Group
14.21 SVEA Power
14.22 Tenel
14.23 Amtech Power Ltd.
14.24 Voith Group
List of Tables
1 Global Excitation Systems Market Outlook, By Region (2019-2028) ($MN)
2 Global Excitation Systems Market Outlook, By Type (2019-2028) ($MN)
3 Global Excitation Systems Market Outlook, By DC (Direct Current) Excitation System (2019-2028) ($MN)
4 Global Excitation Systems Market Outlook, By AC (Alternating Current) Excitation System (2019-2028) ($MN)
5 Global Excitation Systems Market Outlook, By Rotating Thyristor Excitation System (2019-2028) ($MN)
6 Global Excitation Systems Market Outlook, By Brushless Excitation System (2019-2028) ($MN)
7 Global Excitation Systems Market Outlook, By Static Excitation System (2019-2028) ($MN)
8 Global Excitation Systems Market Outlook, By Controller Type (2019-2028) ($MN)
9 Global Excitation Systems Market Outlook, By Analog (2019-2028) ($MN)
10 Global Excitation Systems Market Outlook, By Digital (2019-2028) ($MN)
11 Global Excitation Systems Market Outlook, By Component (2019-2028) ($MN)
12 Global Excitation Systems Market Outlook, By Automatic Voltage Regulator (AVR) (2019-2028) ($MN)
13 Global Excitation Systems Market Outlook, By Exciter (2019-2028) ($MN)
14 Global Excitation Systems Market Outlook, By Power System Stabilizer (PSS) (2019-2028) ($MN)
15 Global Excitation Systems Market Outlook, By Application (2019-2028) ($MN)
16 Global Excitation Systems Market Outlook, By Synchronous Generators (2019-2028) ($MN)
17 Global Excitation Systems Market Outlook, By Synchronous Motors (2019-2028) ($MN)
18 Global Excitation Systems Market Outlook, By Excitation Method (2019-2028) ($MN)
19 Global Excitation Systems Market Outlook, By Auxiliary Winding (AUX) (2019-2028) ($MN)
20 Global Excitation Systems Market Outlook, By Excitation Boost System (EBS) (2019-2028) ($MN)
21 Global Excitation Systems Market Outlook, By Permanent Magnet Generator (PMG) (2019-2028) ($MN)
22 Global Excitation Systems Market Outlook, By Shunt or Self Excited (2019-2028) ($MN)
23 Global Excitation Systems Market Outlook, By Sales Channel (2019-2028) ($MN)
24 Global Excitation Systems Market Outlook, By Direct (2019-2028) ($MN)
25 Global Excitation Systems Market Outlook, By Indirect (2019-2028) ($MN)
26 Global Excitation Systems Market Outlook, By End User (2019-2028) ($MN)
27 Global Excitation Systems Market Outlook, By Power Generation Industry (2019-2028) ($MN)
28 Global Excitation Systems Market Outlook, By Thermal Power Plants (2019-2028) ($MN)
29 Global Excitation Systems Market Outlook, By Hydroelectric Power Plants (2019-2028) ($MN)
30 Global Excitation Systems Market Outlook, By Heavy Industries (2019-2028) ($MN)
31 Global Excitation Systems Market Outlook, By Marine (2019-2028) ($MN)
32 Global Excitation Systems Market Outlook, By Original Equipment Manufacturer (OEM) (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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