Press release
Excitation Systems Market to Witness Huge Growth by Key Players: Basler Electric, ABB, GE, Rolls Royce Holdings plc and more.
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The excitation systems market is estimated at USD 2.7 billion in 2021 and is projected to reach USD 3.4 billion by 2026, at a CAGR of 4.4% from 2021 to 2026.
Top Key Players Profiled in the Excitation Systems Market:
• Basler Electric (US)
• ABB (Switzerland)
• Siemens Energy(Germany)
• General Electric (US)
• ANDRITZ Group (Austria)
• Emerson (US)
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“The brushless excitation systems segment is expected to grow at the highest CAGR from 2021 to 2026”
Brushless excitation systems are expected to emerge as the largest growing market. In brushless excitation systems, the field current is supplied to synchronous machines without using slip rings and carbon brushes. As these systems do not require carbon brushes, losses due to contact resistance are low, thus resulting in low maintenance as compared to static excitation systems.
“Digital excitation systems are expected to emerge as the largest segment based on controller type”
Digital excitation systems provide a significant improvement in generator performance by improving transient as well as dynamic stability. Easy conversion of analog-to-digital controls is likely to be the major factor fostering the demand for digital control systems during the forecast period.
“Asia Pacific is expected to grow at the highest CAGR from 2021 to 2026”
The Asia Pacific region is estimated to be the largest and fastest growing market for excitation systems, followed by North America and Europe. China, which accounted for a major share of the Asia Pacific market in 2017, is projected to grow at the highest CAGR from 2021 to 2026. The increase in demand for excitation systems in the Asia Pacific region can be attributed to the growing demand for uninterrupted and reliable power supply in the region.
Breakdown of primary participants’ profile:
• By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%
• By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
• By Region: North America- 25%, Europe- 15%, Asia Pacific- 32%, Middle East– 10%, South America- 10% and Africa-8%
Study Coverage:
The report defines, describes, and forecasts the excitation systems market, by technology, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the excitation systems market.
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