Market Overview:
The global excitation system market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for synchronous generators and synchronous machines across the globe. Additionally, the growing awareness about energy efficiency is also propelling the growth of this market. However, fluctuations in prices of raw materials may restrain the growth of this market to some extent during the forecast period. On basis of type, analog excitation systems are expected to dominatethe global excitation systemmarket duringthe forecast period owingto their low cost and easy installation as comparedto digitalexcitation systems .
Product Definition:
An excitation system is a device or circuit used to supply electrical power to the field windings of an electric motor or generator. The excitation system is important because it provides the power necessary to start and operate the motor or generator.
Analog:
Analog is a continuously developing system of technologies that uses continuous varying voltage and current to represent the information. In other words, analog technology measures the variable parameters by using different electrical signals with no specific convention or protocol for their representation. The term “analog” as used in this context generally refers to two types of systems: linear and non-linear.
Digital:
Digital is a set of numbers used to represent information. It can be either represented as a string of text or numbers. The digital signal processing (DSP) technology uses the concept of variables, algorithms, and functions to perform specific tasks such as signal processing or control processes in electronic devices. Digital signals are processed by special purpose processors called Digital Signal Processors (DSPs).
Application Insights:
The synchronous generators segment dominated the global excitation system market in 2017. The segment is projected to witness significant growth over the forecast period owing to rising demand for diesel and gas turbines across various applications such as power generation, water heating, transportation and refrigeration.
Synchronous machines accounted for a major share of the overall revenue in 2017 due to their wide application scope including oil & gas industry, municipal wastewater treatment plants and hydropower projects. Synchronous machines are used as prime movers in hydroelectric power plants that generate electricity through long-distance transmission facilities or from large central generating stations. Synchronous generators are also used extensively across wind energy projects since they can be connected directly into an electric grid without requiring any additional equipment or machinery other than a regular electrical generator set.
Regional Analysis:
Europe dominated the global market in 2017 owing to the presence of major manufacturers such as Siemens AG, Alstom Grid, General Electric, and ABB. The region is expected to witness a CAGR of XX% over the forecast period. The growth can be attributed to rising demand for digital excitation systems from large-scale power generation applications in Europe.
Asia Pacific is projected to grow at a significant rate over the forecast period owing to increasing investments by governments in developing countries such as China and India for building smart cities with renewable energy sources that require excitation systems with higher efficiency levels along with better control capabilities at lower costs than conventional analog systems used currently across these regions.
Growth Factors:
- Increasing demand for electric vehicles
- Growing investments in renewable energy sources
- Rising concerns over environmental pollution
- Proliferation of smart grids and energy storage systems
- Technological advancements in excitation systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Excitation System Market Research Report
By Type
Analog, Digital
By Application
Synchronous Generators, Synchronous Machines
By Companies
ABB, Rolls Royce, Voith, Tenel, Basler Electric, Konear Inem, Altex Electric, Automation Electronics India, Amtech Power, Andritz, ABB, GE, VEO OY
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Excitation System Market Report Segments:
The global Excitation System market is segmented on the basis of:
Types
Analog, Digital
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Synchronous Generators, Synchronous Machines
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Rolls Royce
- Voith
- Tenel
- Basler Electric
- Konear Inem
- Altex Electric
- Automation Electronics India
- Amtech Power
- Andritz
- ABB
- GE
- VEO OY
Highlights of The Excitation System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Analog
- Digital
- By Application:
- Synchronous Generators
- Synchronous Machines
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Excitation System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
The excitation system is responsible for supplying the power to the motors that drive the propellers.
Some of the key players operating in the excitation system market are ABB, Rolls Royce, Voith, Tenel, Basler Electric, Konear Inem, Altex Electric, Automation Electronics India, Amtech Power, Andritz, ABB, GE, VEO OY.
The excitation system market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Excitation System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Excitation System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Excitation System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Excitation System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Excitation System Market Size & Forecast, 2020-2028
4.5.1 Excitation System Market Size and Y-o-Y Growth
4.5.2 Excitation System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Analog
5.2.2 Digital
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Synchronous Generators
6.2.2 Synchronous Machines
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Excitation System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Excitation System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Analog
9.6.2 Digital
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Synchronous Generators
9.10.2 Synchronous Machines
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Analog
10.6.2 Digital
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Synchronous Generators
10.10.2 Synchronous Machines
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Analog
11.6.2 Digital
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Synchronous Generators
11.10.2 Synchronous Machines
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Analog
12.6.2 Digital
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Synchronous Generators
12.10.2 Synchronous Machines
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Analog
13.6.2 Digital
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Synchronous Generators
13.10.2 Synchronous Machines
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Excitation System Market: Competitive Dashboard
14.2 Global Excitation System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Rolls Royce
14.3.3 Voith
14.3.4 Tenel
14.3.5 Basler Electric
14.3.6 Konear Inem
14.3.7 Altex Electric
14.3.8 Automation Electronics India
14.3.9 Amtech Power
14.3.10 Andritz
14.3.11 ABB
14.3.12 GE
14.3.13 VEO OY
