MARKET INTRODUCTION
Excitations systems are used to feed DC voltage to the rotor windings in order to generate the magnetic field as per the operating conditions. These systems are undergoing continuous improvements in line with larger and complex power systems. The robust demand for generators in hydropower generation is a prime contributor toward the growth of the excitation systems across the globe. Asia Pacific region is anticipated to witness significant growth during the forecast period on account of substantial investments in energy generation projects.
MARKET DYNAMICS
The excitation systems market is projected to grow in the forecast period owing to driving factors such as increasing demand for synchronous machines and increasing the popularity of solar and wind power. Also, these systems ensure reliable long-term operations, thus augmenting the market growth. However, complexity in the design of excitation systems leads to difficulty in maintenance. This factor may impede the growth of the excitation systems market during the forecast period. On the other hand, demand for synchronous machines in the HVDC network offers significant growth prospects to the key players of the excitation systems market in the coming years.
MARKET SCOPE
The "Global Excitation Systems Market Analysis to 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The report aims to provide an overview of excitation systems market with detailed market segmentation by type, controller type, application, and geography. The global excitation systems market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading excitation systems market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global excitation systems market is segmented on the basis of type, controller type, and application. Based on type, the market is segmented as brushless excitation systems and static excitation systems. On the basis of the controller type, the market is segmented as digital control and analog control. The market on the basis of the application is classified as synchronous motors and synchronous generators.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global excitation systems market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The excitation systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting excitation systems market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the excitation systems market in these regions.
MARKET PLAYERS
The reports cover key developments in the excitation systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from excitation systems market are anticipated to lucrative growth opportunities in the future with the rising demand for excitation systems in the global market. Below mentioned is the list of few companies engaged in the excitation systems market.
The report also includes the profiles of key excitation systems companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- ABB Ltd.
- Amtech Power Ltd.
- ANDRITZ AG
- Basler Electric Company
- General Electric Company
- KONCAR - Electronics and Informatics Inc.
- Siemens AG
- Tenel, s.r.o.
- VEO Group
- Voith GmbH & Co. KGaA
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