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Market Snapshot

CAGR:9.02

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	9.02

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Report Overview

Excitation Systems Market Analysis By Application (Power Generation, Industrial, Marine, Others), By Type (Static Excitation Systems, Brushless Excitation Systems, Others), and By Region Forecast to 2032:

The Excitation Systems Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the increasing demand for reliable electricity generation, the need for efficient control of power systems, and advancements in excitation system technologies. Excitation systems play a critical role in maintaining the stability and quality of electrical power.

Excitation Systems Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Excitation Systems Market is the global demand for consistent and high-quality electrical power. With the increasing reliance on electricity for various industrial, commercial, and residential applications, power generators are under pressure to deliver a stable power supply. Excitation systems are essential components in power generation plants, ensuring that generators produce electricity within specified voltage and frequency ranges.

Furthermore, the expansion of the industrial sector and the growing use of electric motors in various industries drive the demand for excitation systems. These systems are vital for controlling the voltage and power factor in industrial power systems, enabling efficient operation and minimizing energy losses.

Trends:

An emerging trend in the Excitation Systems Market is the adoption of advanced digital excitation control systems. These systems offer precise and rapid control of generator excitation, allowing power plants to respond quickly to changing load conditions. Additionally, digital controls provide diagnostic and monitoring capabilities, enhancing system reliability and reducing maintenance costs.

Another notable trend is the integration of excitation systems with renewable energy sources, such as wind and solar power. Excitation systems play a crucial role in regulating voltage and ensuring grid stability when integrating intermittent renewable energy into the power grid.

Restraints:

One of the key challenges hindering the growth of the Excitation Systems Market is the limited availability of skilled professionals with expertise in excitation system design and maintenance. As these systems become more advanced and digital, specialized knowledge is required for installation, commissioning, and troubleshooting.

Additionally, the competitive landscape in the excitation systems market is characterized by the presence of established players with long-standing relationships with power generation companies. New entrants face challenges in gaining market share and building trust among customers.

Excitation Systems Market Segmentation By Application:

The power generation segment is expected to witness significant growth during the forecast period. Excitation systems are indispensable in power plants, ensuring the stability and reliability of electrical power generation. As the global demand for electricity continues to rise, power generation facilities are seeking advanced excitation solutions.

The industrial segment represents another substantial market area. Excitation systems are used in various industrial processes to regulate voltage and power factor, contributing to energy efficiency and cost savings.

Excitation Systems Market Segmentation By Type:

Static excitation systems have been widely used in power generation and industrial applications and are expected to continue holding a significant market share. They provide stable and reliable excitation control using solid-state technology.

Brushless excitation systems offer improved reliability and reduced maintenance compared to traditional brush-type systems. They are suitable for synchronous generators and rotating equipment.

Regional Overview:

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North America is poised to be a key contributor to the global Excitation Systems Market, accounting for approximately 35% of the market's growth during the forecast period. The region's aging power infrastructure and the need for grid modernization drive the demand for new excitation system technologies.

Europe is another prominent region in the market, with a focus on energy efficiency and sustainability. European countries are investing in renewable energy sources and upgrading their electrical grids, creating opportunities for advanced excitation system technologies.

Excitation Systems Market Customer Landscape:

The Excitation Systems Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on grid modernization initiatives and includes key purchase criteria related to reliability, efficiency, and digital capabilities.

Major Excitation Systems Market Companies:

Companies in the excitation systems market are employing diverse strategies such as research and development, product innovation, and strategic partnerships to strengthen their market presence.

Example companies include:

ABB Group: ABB is a global leader in power and automation technologies. The company offers a wide range of excitation systems for power generation and industrial applications, focusing on innovation and efficiency.
Siemens AG: Siemens is a prominent player in the electrical engineering and automation industry. The company provides excitation systems designed for high performance and reliability in power generation plants.
General Electric Company: GE is a leading provider of electrical equipment and solutions. The company offers excitation systems that meet the stringent requirements of modern power infrastructure projects.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

Toshiba Corporation
Mitsubishi Electric Corporation
Hyundai Heavy Industries Co. Ltd.
Crompton Greaves Ltd.
ZPUE S.A.
Hubbell Incorporated
TE Connectivity Ltd.
G&W Electric Company
Meister International, LLC
Nissin Electric Co. Ltd.
SIBA GmbH
ABB Group
Siemens AG
General Electric Company
Arteche Group

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their product offerings, technological advancements, and market presence.

Segment Overview:

The Excitation Systems Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Power Generation
Industrial
Marine
Others

Type Outlook (USD Million, 2019 - 2032):

Static Excitation Systems
Brushless Excitation Systems
Others

Geography Outlook (USD Million, 2019 - 2032):

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
Japan
India

Latin America

Brazil
Mexico

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Excitation Systems MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Excitation Systems MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Excitation Systems Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Excitation Systems MARKET BY type SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Static

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Brushless

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Excitation Systems MARKET BY Controller type INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Analog

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Digital

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Excitation Systems MARKET REGIONAL OUTLOOK

7.1. Excitation Systems Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Excitation Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Excitation Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Excitation Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Excitation Systems Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Excitation Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Basler Electric (US)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 ABB (Switzerland)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 GE (US)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 ANDRITZ AG (Austria)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Rolls Royce plc (UK)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiativesn

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Excitation Systems Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032