The excitation systems market is estimated at USD 2.64 billion in 2018 and is projected to reach USD 3.12 billion by 2023, at a CAGR of 3.38% from 2018 to 2023. Rapid growth in the power sector is the key to the economic development of a country. Electricity is a key ingredient for the growth of various industries such as oil & gas, mining, utilities, chemicals, cement, and manufacturing.
Download Brochure of Excitation Systems Market spread across 117 Pages, Profiling 14 Companies and Supported with 67 Tables and 34 Figures is now available at http://www.rnrmarketresearch.com/contacts/request-sample?rname=1436508 .
In global Excitation Systems Market increasing demand for power requires the upgrading and expansion of transmission and distribution infrastructure. This has increased the demand for synchronous machines in various end-use applications such as hydro, thermal, and nuclear power plants. “The brushless excitation systems segment is expected to grow at the highest CAGR from 2018 to 2023”
Key Target Audience:
- Synchronous generator manufacturing companies
- Manufacturers associations
- Suppliers of parts and components for engines and generators
- Institutional investors
- Government and research organizations
In excitation systems market research Asia Pacific region estimated to be largest and fastest growing market for, followed by North America and Europe. China, which accounted for a major share of Asia Pacific market in 2017, projected to grow at highest CAGR from 2018 to 2023. Increase in demand for excitation systems in Asia Pacific region can be attributed to the growing demand for uninterrupted & reliable power supply in region.
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Excitation systems market has been segmented, by type, into static and brushless. Brushless excitation systems segment held largest share of excitation systems market in 2017. In brushless excitation systems, field current is supplied to synchronous machines without using slip rings & 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.
- Attractive Opportunities in the Excitation Systems Market, 2018–2023
- Excitation Systems Market, By Region
- Excitation Systems Market, By Type
- Excitation Systems Market, By Controller Type
- Excitation Systems Market, By Application
- Asia Pacific Excitation Systems Market, By Country and Type
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. Rising demand for generators in hydro power generation is expected to support the demand for excitation systems.
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Report segments excitation systems market by controller type into analog control & digital control. Digital control is estimated to be largest segment. Digital control systems provide a significant improvement in generator performance by improving transient as well as dynamic stability. Easy conversion of analog to digital controls is another key factor that is expected to foster the demand for digital control systems.
- Ranking of Key Players & Industry Concentration, 2017
- Competitive Scenario
- Contracts & Agreements
- New Product Launches
- Mergers & Acquisitions
In this report, excitation systems market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, Middle East, & Africa. Asia Pacific expected to be largest & fastest-growing market for excitation systems. Also, rapidly growing renewable energy based capacity additions are expected to support demand for excitation systems for synchronous machines in coming years.
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