Excitation Systems Market Research Report - Global Forecast till 2030

Excitation Systems Market Information By Type (DC Excitation System, AC Excitation System, Static Excitation System), By Controller Type (Analog, Digital), By Application (Synchronous Motors, Synchronous Generators), and Region (North America, Europe, Asia-Pacific, and the Rest of the World)‚ÄĒForecast till 2030

ID: MRFR/E&P/7148-HCR | 111 Pages | Published By Priya Nagrale on March 2023         

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Excitation Systems Market

Excitation System Market size is projected to reach USD 3.08 Billion, with 4.03% CAGR between 2022 and 2030.

By Type DC Excitation System AC Excitation System Static Excitation System
By Controller Type Analog Digital
By Application Synchronous Motors Synchronous Generators
Key Players
Companies Profiled   General Electric (US)    VEO (Finland)    Amtech Power Ltd (India)    KONńĆAR (Croatia)    Voith (Germany)    Siemens (Germany)    Basler Electric (US)    Tenel s.r.o. (Czech Republic)    Nidec (Japan)    Andritz (Austria)    Reivax (Canada)    Automation Electronics (India)    ABB (Switzerland)
Market Driving Forces   Rising demand for synchronous machines    Ability to provide reliable operations for synchronous machines    Growing need for synchronous machines in renewable energy
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The excitation systems market size is projected to register a CAGR of 4.03% to reach approximately USD 3.08 Billion from 2022 to 2030. 

Global Excitation Systems Market Research (MRFR Insights)

The excitation System provides DC to the winding synchronous device region to operate the electric machine's protective and manipulative functions. This device has a processor, an exciter, a PSS (Power System Stabilizer), an AVR (Automatic Voltage Regulator), and measurement components. By using this machine, the modern furnishings are excitingly modern. These devices input values that have been adjusted for the usage of the measurement components. The excitation systems market size is expected the market is expected to expand quickly during the projected period due to the ability to guarantee synchronous machines' long-term reliable operations and the rising demand for synchronous machines internationally. The ability to deliver synchronous machines with dependable operations and the expanding demand for synchronous machines are factors driving the worldwide market forward. Additionally, the worldwide excitation system business will benefit from the growing need for synchronous machines in renewable energy.

COVID-19 Impact Analysis on Excitation Control Systems Industry

The COVID-19 pandemic has significantly reduced electricity consumption. However, to decrease the pandemic risk, state-run governments have to restrict corporate travel worldwide. The decline in commercial activity has adversely affected excitation control systems in the near term. An integral component of the coordinated machine, the excitation framework generates motion and sends current to the simultaneous machine's rotor winding to conduct security and control functions as a strengthening input. In light of framework requests, excitation is necessary; higher excitation is anticipated in a framework where the heap current is large.

Excitation Systems Market Dynamics

The main driver of market expansion is the demand for synchronous machines to provide dependable operation, continuous power supply, and adequate plant operations. Synchronous machines can be used to create both synchronous generators and motors. For effective plant operation, a stable and continuous power supply is ensured by the synchronous machine and excitation system. As a result, the synchronous machine's excitation mechanism influences operational readiness and assures dependable long-term operation. A significant aspect propelling the market throughout the anticipated time is the rise in popularity of power factor revision and power framework solidity from power purchasers. Additionally, from 2022 to 2030, the market for excitation control systems will grow significantly due to the rapid growth of environmentally friendly power joining.

Market Key Drivers

  • The increased interest in synchronous machines

An increase in the demand for synchronous machines, which are essential for reliable operation, a consistent supply of power, and adequate plant operations, is the main factor driving market expansion. Both synchronous generators and motors can be built using synchronized machines. The synchronous machine and excitation system enables a stable and continuous power supply, which is essential for efficient plant operation. As a result, the excitation mechanism of the synchronous machine affects operational readiness and ensures reliable long-term operation.

A rise in the demand for simultaneous machines with excitation control systems for matrix dependability applications from electric utilities, such as power creation plants, transmission, conveyance, and other utilities in developing economies, is propelling business sector development.

Market key Restraints:

  • Complex design leads to difficulty in the maintenance of excitation systems

The subsystems with the highest maintenance requirements are known as general excitation systems. The maintenance tasks performed on diverse system equipment significantly impact the reliability of power plants. If not properly maintained, excitation control systems can be a key factor in power plant unplanned outage times. As a result, maintenance systems must be thoroughly altered to guarantee that they function properly to prevent such atrocities. It is anticipated that this may impede market expansion. Additionally, in any event, the design of complex excitation control systems, which have complicated support exercises, is generally the main problem impeding market expansion.

Market Key Opportunities:

  • Increasing concern about warming

Countries have shifted to renewable energy sources in response to rising worries about warming, carbon emissions, and increased pollution. To solve these environmental challenges, the government is putting strategies into action. Additionally, renewable energy is anticipated to generate a third of the world's electricity. Nearly half of the world's renewable electricity still comes from hydropower. The world's largest renewable energy source offers the market the most prospects for market expansion, followed by solar and wind power.

Excitation Systems Market Segmentation

Type Insights

The excitation systems market segmentation, based on type, is the DC excitation system, AC excitation system, and static excitation system. The excitation systems market growth was prominently high under the static excitation system category in 2021 due to several benefits, including high performance, small size, low losses, outstanding dependability, and excellent system response, which stimulated demand during the studied period. Additionally, growing investments in the infrastructure for power production, transmission, and distribution have been made in response to the rising energy demand from developing countries, which is projected to fuel the industry.

Controller Type Insights

The excitation systems market segmentation, based on controller type, is analog and digital. In 2021, digital accounted for the largest market share of the market because the convenience of switching from analog control to digital control and improved transient and dynamic stability of the digital excitation control systems considerably improved generator performance, which is the driver that increased market growth.

Application Insights

By application, the contact lens market has been segmented into synchronous motors and synchronous generators. In 2021, the synchronous generators category was anticipated to hold a prominent market share because the synchronous generators are built to supply the turbine generator's field windings with DC that is automatically controlled in generator mode.

Global Excitation Systems Market Share, by Region, 2021 (%)

Excitation Systems Market Share, by Region, 2021

Excitation Systems Market Overview, by Region

By region, the excitation systems market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific accounted for the most extensive market share. North America will exhibit the highest CAGR during the forecast period.

Asia-Pacific Analysis

Asia-Pacific dominated the market share in 2021. The growth of renewable energy-based capacity, expected to increase demand for synchronous machine excitation control systems, is the driving force behind the market's expansion. Growing urbanization and rising income levels contribute to an increase in the demand for electrical equipment and power in the residential sector. The demand for materials for capital goods, transportation, and infrastructure drives the industrial demand for power.

North America Analysis

North America accounted for the second-largest market share in the market in 2021. Interest in simultaneous machines is increasing due to critical development in end-use industries like oil and gas, electricity, mining, synthetics, mash, and paper, among others. To assist electrification and the transportation of electric power throughout the region, the region focuses on renewable energy projects and energy-efficient industries. This may have an impact on the excitation system market to satisfy demand. This is likely to propel the growth of the market.

Excitation Systems Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as KONńĆAR (Croatia), Voith (Germany), Siemens (Germany), Basler Electric (US), Tenel, and s.r.o. (Czech Republic) dominate the market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting R&D. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base.

Prominent players in The excitation systems market research include General Electric (US), VEO (Finland), Amtech Power Ltd (India), KONńĆAR (Croatia), Voith (Germany), Siemens (Germany), Basler Electric (US), Tenel s.r.o. (Czech Republic), Nidec (Japan), Andritz (Austria), Reivax (Canada), Automation Electronics (India), and ABB (Switzerland), among others.

Scope of the excitation Systems Market Report

Type Outlook

  • DC Excitation System

  • AC Excitation System

  • Static Excitation System

Controller Type Outlook

  • Analog

  • Digital

Application Outlook

  • Synchronous Motors

  • Synchronous Generators

Region Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific

  • Rest of the World

    • South America

    • Middle East

    • Africa

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Excitation Systems Market Forecast & Size:

To identify and estimate the market size for the excitation systems market report segmented by type, controller type, and application by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the excitation systems market forecast between 2022 and 2030

Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges in the excitation systems market growth

Market Influencing Factors:

To find out the factors which are affecting the excitation systems market size among consumers

Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • excitation control systems producers

  • Raw material suppliers

  • Retailers, wholesalers, and distributors

  • Governments, associations, and industrial bodies

  • Excitation systems companies

Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 3.08 Billion
  CAGR   4.03% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022¬†to¬†2030
  Historical Data   2019¬†&¬†2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Controller Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
  Key Vendors   General Electric (US), VEO (Finland), Amtech Power Ltd (India), KONńĆAR (Croatia), Voith (Germany), Siemens (Germany), Basler Electric (US), Tenel s.r.o. (Czech Republic), Nidec (Japan), Andritz (Austria), Reivax (Canada), Automation Electronics (India), ABB (Switzerland)
  Key Market Opportunities   Increasing concern about warming
  Key Market Drivers   The increased interest in synchronous machines

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Frequently Asked Questions (FAQ) :

The  excitation systems market forecast period is 2022 - 2030

The market is expected to register a CAGR of ~4.03% over the next 10 years, according to  excitation systems market research.

North America is expected to register the highest CAGR during 2022 - 2030

Asia-Pacific held the largest share in 2021

The market size is expected to be USD 3.08 Billion by 2030.

General Electric (US), VEO (Finland), Amtech Power Ltd (India), KONńĆAR (Croatia), Voith (Germany), Siemens (Germany), and Basler Electric (US)are the major companies operating in the market.