Excitation Systems Market Research Insights 2023-29

The global excitation systems market size was valued at USD 2,939.4 million in 2022 and is expected to grow at a CAGR 4.3% during the forecast period 2023 to 2029. The primary drivers of the expansion of the global excitation systems market include the increasing demand for excitation systems in reliable operations, increasing renewable energy sources. In addition, growing research and development of digital excitation control systems is expected to boost the growth of excitation systems market at a significant rate.

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Brushless Segment is expected to Dominate the Excitation Systems Market:
Based on the type, the global Excitation Systems market is segmented into Static and brushless. The brushless segment is expected to account for a larger revenue share in the global excitation systems market. In brushless excitation system, the field current is supplied without the use of carbon brushes and slip rings to the synchronous machine. As the carbon brushes are eliminated, it results in low maintenance of this systems. And also, the signal is improved and dynamic performance while stabilizing the signals. These factors are expected to drive the excitation systems market growth over the forecast period in this segment.

Asia Pacific Excitation Systems Market
The Asia Pacific excitation systems market is expected to increase over the forecast period due to the several market players or manufacturers present in this region. Rapid evolution of industries and manufacturing sectors across the Asia Pacific region especially in China and India is expected to significantly increase the demand for excitation systems in this region. in addition, the increasing demand for generators in hydropower plants is expected to simultaneously increase the demand for excitation systems in this region. thus, the excitation systems market expected to have growth at a significant rate over the forecast period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Excitation Systems market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term, alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In March 2020, Nidec Leroy-Somer launched TAL 0473. The TAL 0473 delivers a nominal power between 400 kVA and 660 kVA at 50 Hz.

The Excitation Systems market is segmented based on type, application, controller type, and geography.

Based on the type, the market is segmented into the following:
• Static
• Brushless

Based on the application, the market is segmented into the following:
• Synchronous Motors
• Synchronous Generators

Based on the controller type, the market is segmented into the following:
• Digital
• Analog

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players profiles in the Excitation Systems market report are ABB, Andritz AG, Basler Electric Company, Fuji Electric Co., Ltd., General Electric, Mitsubishi Electric Corporation, Siemens AG, Tenel, Voith GmbH & Co. KGaA, and WEG Group, Nidec Leroy-Somer.

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