Press release
Excitation Systems Global Market Report 2024 - By Report, Size, Share, Growth And Analysis, Forecast To 2033
"The new report published by The Business Research Company, titled ""Excitation Systems Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.As per the report, the excitation systems market size has grown strongly in recent years. It will grow from $2.53 billion in 2023 to $2.67 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The excitation systems market size is expected to see steady growth in the next few years. It will grow to $3.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.
Download Free Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14370&type=smp
Solar And Wind Power Growth Driving The Excitation System Market
Increasing popularity of solar and wind power is expected to propel the growth of the excitation system market going forward. Solar and wind power refer to renewable energy sources that harness the energy of sunlight and wind, respectively, to generate electricity. Growing awareness of climate change and the environmental impacts of fossil fuel combustion has led to a shift towards cleaner energy sources like solar and wind power, which produce minimal greenhouse gas emissions and reduce air pollution. Synchronous generators are commonly used in solar and wind power plants to convert mechanical energy from wind turbines or steam turbines (in concentrated solar power plants) into electrical energy. For instance, in April 2023, according to a report published by the National Renewable Energy Laboratory (NREL), a US-based research institution dedicated to advancing renewable energy and energy efficiency technologies, global photovoltaic (PV) installations reached 231 gigawatts of direct current (GWdc), totaling 1.2 terawatts of direct current (TWdc) cumulatively in 2022. China's annual PV installations surged by 57%, accounting for 42% of global demand, while annual installations are forecast to exceed 300 GW by 2023 and surpass 400 GW by 2025. Therefore, increasing popularity of solar and wind power is driving the excitation system market.
Strategic Collaboration In Modernizing Power Generation Infrastructure
Major companies operating in the excitation system market are adopting strategic collaboration approaches to modernize power generation infrastructure to drive efficiency, reliability, and sustainability in electricity production. This collaboration approach involves the replacement of e-excitation systems to upgrade and improve power generation facilities. For instance, in October 2022, Reivax North America Inc., a US-based provider of excitation systems, partnered with Siemens AG, a Germany-based technology company, to replace the UNITROL F static excitation system for a Siemens steam turbine. This turbine is supplied with steam by two GE LM6000 turbines. Reivax North America secured the contract through competitive bidding, offering a comprehensive design-build-install solution that prioritized technical excellence, reliability, safety, and cost-effectiveness. The REIVAX RTX Power static excitation system, known for its versatility in hydro and non-hydro generating stations, as well as synchronous motor excitation systems, was selected for the project.
The excitation systems market covered in this report is segmented -
1) By Type: Rotational, Static, Brushless
2) By Controller type: Analog, Digital
3) By Application: Synchronous Generator, Synchronous Motor
4) By End User: Power Generation Industry, Heavy Industries, Original Equipment Manufacturer (OEMs), Other End Users
Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=14370&type=discount
Major companies operating in the excitation systems market are General Electric Company, Mitsubishi Electric Corporation, Siemens Energy AG, ABB Ltd., Nidec Corporation, Rolls-Royce Holdings plc, Emerson Electric Co., Melrose Industries PLC, ANDRITZ AG, Fuji Electric Co. Ltd., WEG S.A. (WEG Industries), Voith Group, KONČAR - Electrical Industry Inc., Basler Electric Company, Veo Oy Ltd., L & S Electric Inc., Reivax Inc., F & S PROCESS AUTOMATION GmbH, Amtech Power Limited, Tenel s.r.o., PLUTON Group, NR Electric Co. Ltd. (NARI Group), Excitation & Engineering Services Ltd., SVEA Power AB, Automation Electronics India Pvt. Ltd., Birr Machines AG, Nelumbo Icona Controls Pvt. Ltd., Altex Electric GmbH
Contents of the report:
1. Executive Summary
2. Excitation Systems Market Report Structure
3. Excitation Systems Market Trends And Strategies
4. Excitation Systems Market - Macro Economic Scenario
5. Excitation Systems Market Size And Growth
…..
27. Excitation Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Explore the report store to make a direct purchase of the report @
https://www.thebusinessresearchcompany.com/report/excitation-systems-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ"
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Excitation Systems Global Market Report 2024 - By Report, Size, Share, Growth And Analysis, Forecast To 2033 here
News-ID: 3569490 • Views: …
More Releases from The Business research company

Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…

Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…

Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…

Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Excitation
Solar And Wind Power Growth Driving The Excitation System Market Share: A Key Fa …
How Are the key drivers contributing to the expansion of the excitation systems Market Share?
The growth in the excitation system Market Share is projected to be fueled by the rising popularity of solar and wind power. These renewable energy sources leverage the power of sunlight and wind to generate electricity. Increased awareness about climate change and the environmental consequences of burning fossil fuels has triggered a transition to cleaner energy…
Excitation Transformers Market | ABB, AQ Trafotek, Cummins Generator Technologie …
The global excitation transformers market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the excitation transformers market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of the…
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…
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…
Excitation Systems Market Growth Framework 2030
Excitation Systems Market: Overview
The excitation systems market is anticipated to gain a good growth-share during the forecast period of 2020-2030 on the back of the rising popularity of synchronous machines. These machines assure uninterrupted power supply for the systematic operation of plants and factories. Hence, these functionalities serve as prominent growth factors for the excitation systems market.
Get Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=7380
Excitation systems attract huge demand due to…
Excitation Systems Market Future Trends Landscape 2030
Excitation Systems Market: Overview
The excitation systems market is anticipated to gain a good growth-share during the forecast period of 2020-2030 on the back of the rising popularity of synchronous machines. These machines assure uninterrupted power supply for the systematic operation of plants and factories. Hence, these functionalities serve as prominent growth factors for the excitation systems market.
Get Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=7380
Excitation systems attract huge demand due to…