Excitation Systems Market Size to Reach $3.4 Billion by 2026

The global excitation systems market is expected to grow from an estimated USD 2.7 billion in 2021 to USD 3.4 billion by 2026, at a CAGR of 4.4%. Key factors projected to drive the growth of the Excitation Systems Market are their ability to ensure long-term reliable operations and increasing demand for synchronous machines to ensure optimal reactive power flow in power distribution plants.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=157025549

The synchronous generators are expected to be the most significant contributor to the excitation systems market

By application, the excitation systems market has been segmented into synchronous generators and synchronous motors. Synchronous generators are expected to be the largest and fastest growing segment during the forecast period. The synchronous generator is designed for feeding turbo-generator excitation winding with automatically regulated DC in generator operation. The generator system includes various functional systems such as a power circuit, automatic regulators, and protection and control systems. Rising demand for generators in hydropower generation is expected to support the demand for excitation systems.

Brushless excitation segment is expected to be the largest market segment for Excitation Systems 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. Thus, low maintenance cost as compared to static excitation systems is expected to support the market growth for brushless excitation systems.

Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=157025549

Asia Pacific is expected to be the largest Excitation Systems Market

In this report, the Excitation Systems Market has been analyzed with respect to 6 regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The Asia Pacific region is expected to lead the Excitation Systems Market during the forecast period. Rapid industrialization and infrastructural developments in the region offer growth opportunities for the Excitation Systems Market in Asia Pacific. According to the World Bank, Asia Pacific is the fastest-growing region in the world, experiencing continued economic growth. In addition, regional governments in the Asia Pacific are promoting the use of energy-efficient equipment to save electricity. Synchronous motors are expected to play an important role in meeting energy efficiency targets as they are highly efficient in comparison to the induction motor. This factor is expected to drive the market for synchronous machines, thus supporting the growth of excitation systems in the region. Also, rapidly growing hydropower-based capacity additions are expected to support the demand for synchronous machines in the coming years.

Some of the top players in the Excitation Systems Market are ABB (Switzerland), Siemens Energy (Germany), General Electric (US), ANDRITZ Group (Austria), and Emerson (US).

Content Source: https://www.marketsandmarkets.com/PressReleases/excitation-system.asp

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com

About MarketsandMarkets™:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.