Excitation Systems Market : Key Facts, Dynamics, Segments and Forecast Predictions Presented

SDKI Inc. published a new research report on "Excited Systems Market-Global Forecast 2030". The report provides a complete assessment of the market and its growth prospects, along with new business opportunities in the industry. It also includes market size and annual growth during the 2022-2030 forecast period.

Report sample URL
https://www.sdki.jp/sample-request-109562

The excitation system market is estimated to grow from a market value of US $ 2.92 billion in 2022 to US $ 3.69 billion by 2030, with a CAGR of 3.38% during the forecast period. The rapid growth of the power sector is an important factor in the country's economic development. Electricity is an important factor in the growth of various industries such as oil and gas, mining, utilities, chemicals, cement and manufacturing. Increasing power demand will require upgrades and expansions of transmission and distribution infrastructure. As a result, the demand for synchronous machines is increasing in various end applications such as hydroelectric power plants, thermal power plants, and nuclear power plants.

Energy saving and power factor improvement ability are the advantages of the synchronous machine and have played an important role in its increasing popularity. Therefore, the growing popularity of synchronous machines is expected to drive the growth of the excitation system market. Synchronists require an excitation system because they play an important role in controlling voltage output, protecting stators and rotors, and automatically adjusting plant voltage and reactive power. This is expected to drive market growth. However, complex designs that are difficult to maintain can slow market growth.

Market segment

The excitation system market is by type (static and brushless), controller type (analog and digital), application (synchronous generator and synchronous motor), end user (power generation industry (hydraulic power plant, thermal power generation)). Place), heavy industry (ships, others), OEM) and by region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

The brushless excitation system segment is expected to grow at the largest CAGR between 2022 and 2030.

Based on the type, the brushless excitation system segment is expected to emerge as the largest growth segment in the market. In a brushless excitation system, the field current is supplied to the synchronous machine without the use of slip rings or carbon brushes. Since these systems do not require carbon brushes, they have less loss due to contact resistance and require less maintenance than static excitation systems. These factors are expected to contribute to the growth of this segment.

Based on the control type, the digital control segment is expected to emerge as the largest segment.

Digital control systems significantly improve generator performance by improving transient stability as well as dynamic stability. The easy conversion from analog control to digital control is another important factor that is expected to drive demand for digital control systems during the forecast period.

Regional Overview

In addition, the report covers all regions of the world, divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa and more. The Asia Pacific region is estimated to be the largest and fastest growing region of the excitation system market, followed by North America and Europe. China occupies a major share of the Asia Pacific market in 2017 and is projected to grow at the largest CAGR between 2022 and 2030. The increased demand for excitation systems in the region may be due to the increased demand for uninterrupted and reliable power supply in the region. In addition, increased investment in renewable energy projects is expected to support the growth of the pumping system market in the region.

For more detailed analysis, each region is further divided into countries:
Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, and other Asia Pacific)
North America (US and Canada)
Middle East and Africa (Israel, GCC [Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa)
Latin America (Brazil, Mexico, Argentina, and other Latin America)
Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe)

Key Players

Key players on the excitation system market include Basler Electric (US), ABB (Switzerland), GE (US), ANDRITZ AG (Austria) and Rolls Royce Holdings plc (UK). This study includes a detailed competitive analysis of these key companies in the excitation system market, corporate profiles, recent developments, and key market strategies.

Detailed contents of the survey report
https://www.sdki.jp/reports/excitation-systems-market/109562

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This release was published on openPR.