Solar And Wind Power Growth Driving The Excitation System Market Share: A Key Factor Shaping the Future of the Excitation Systems Market Share in 2025

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 types like solar and wind power. These alternatives produce significantly less greenhouse gas emissions and contribute to lessening air pollution. Typically, synchronous generators are utilized in wind and solar power plants to transform mechanical energy from wind turbines or steam turbines (in concentrated solar power plants) into electrical power. For instance, the U.S. Energy Information Administration, a government entity in the US, estimated in January 2024 that American solar power generation is anticipated to surge by 75%, from 163 billion kilowatt-hours (kWh) in 2023 to 286 billion kWh in 2025. Similarly, wind power generation is projected to increase by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2025. Hence, the burgeoning popularity of solar and wind power is catalyzing the excitation system Market Share's growth.

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What growth opportunities are expected to drive the excitation systems Market Share's CAGR through 2034?
Recent years have seen robust growth in the size of the excitation systems Market Share. The Market Share is expected to expand from $2.67 billion in 2024 to $2.81 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.1%. This growth in the historical period is a result of factors such as increasing electricity demand, industrialization, urbanization, concerns related to grid stability, and energy crisis.

Over the course of the next few years, the Market Share size for excitation systems is projected to experience a consistent surge, culminating in a worth of $3.29 billion by 2029 with a compound annual growth rate (CAGR) of 4.0%. The expected growth during this forecast period is attributed to factors such as grid modernization efforts, the incorporation of energy storage, integration of renewable energy, the progress of smart grids, and climate change reduction efforts. The forecast period is also likely to see significant trends including digitalization, remote monitoring, optimized control algorithms, and modular and scalable designs, as well as plug-and-play compatibility, asset management, and the increased use of renewable energy sources.

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What new trends are reshaping the excitation systems Market Share and its opportunities?
Leading corporations in the excitation system Market Share are opting for strategic partnerships to modernize and transform the energy generation infrastructure, focusing on enhancing efficiency, dependability, and environmental sustainability in delivering electricity. The strategic alliance entails changing out the e-excitation systems to upgrade and enhance the performance of energy generation facilities. For example, Reivax North America Inc., a US company well-known for providing excitation systems, joined forces with Siemens AG, an acclaimed technology company headquartered in Germany, in October 2022. The alliance's purpose was to swap out the UNITROL F static excitation system present in a Siemens steam turbine, which the two GE LM6000 turbines power. Reivax North America managed to acquire the contract by winning a price war, offering a comprehensive solution covering everything from design and building to installation, wherein they focused primarily on technical superiority, dependability, safety, and economical pricing. The REIVAX RTX Power static excitation system, printed in the history books for its adaptability in hydro and non-hydro power plants and synchronous motor excitation systems, became the chosen system for this project.

Which growth-oriented segments of the excitation systems Market Share are leading the industry's development?
The excitation systems Market Share 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

Subsegments:
1) By Rotational: Synchronous Rotational Exciters, Permanent Magnet Rotational Exciters
2) By Static: Thyristor-Controlled Static Exciters, Capacitor-Excited Static Exciters
3) By Brushless: Brushless Alternators, Self-Excited Brushless Systems

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What regions are leading the charge in the excitation systems Market Share?
North America was the largest region in the excitation systems Market Share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the excitation systems Market Share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the excitation systems Market Share?
Major companies operating in the excitation systems Market Share 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

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What Is Covered In The Excitation Systems Global Market Share Report?

• Market Share Size Forecast: Examine the excitation systems Market Share size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the excitation systems Market Share for a structured understanding.
• Key Players Overview: Analyze major players in the excitation systems Market Share, including their Market Share value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the excitation systems Market Share.
• Segment Contributions: Evaluate how different segments drive overall growth in the excitation systems Market Share.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the excitation systems Market Share.
• Industry Challenges: Identify potential risks and obstacles affecting the excitation systems Market Share.
• Competitive Landscape: Review strategic developments in the excitation systems Market Share, including expansions, agreements, and new product launches.

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