According to Market Research Future (MRFR), the global excitation system market size is projected to reach USD 3.30 billion, with a 3.24% CAGR between 2019 and 2025 (forecast period).

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An excitation system is used to produce the flux by passing the current in the windings, thus supplying field current to the rotor winding of a synchronous machine. These systems provide stability and reliability in the operation of synchronous machines. In addition, the amount of excitation needed for synchronous machines depends on the load power factor, the load current, and the speed of the machine.

Market Dynamics

Significant factors pushing the growth of the global market for excitation systems include increasing demand for synchronous machines and the capability to provide reliable operation of synchronous machines. In addition, the increasing need for synchronous machines in renewable energy generates opportunities for the global excitation system industry. For example, in November 2019, Reivax (Canada) and General Electric (US) signed a contract with Seattle City Light (US) to supply static excitation systems for boundary dam power stations. These factors are expected to provide an opportunity for the global market for excitation systems during the forecast period.

The global excitation system market is likely to see high growth during the forecast period due to the ability to ensure long-term, stable operation for synchronous machines and increasing global demand for synchronous machines.

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Market Segmentation

The global market for excitation system has been segmented based on type, controller type, and end-use.

• By type, the global excitation system market has been segmented into DC excitation system, AC excitation system, and static excitation system. AC excitation system is further divided into rotating thyristors excitation system and brushless excitation system. The AC excitation System segment is anticipated to hold a larger share due to its numerous benefits like low maintenance cost of rotor excitation system compared to other types of excitation systems and low contact resistance. 
• On the basis of the controller type, the global excitation system market has been segmented into analog and digital. The digital segment is projected to grow with the highest CAGR during the projected period as it improves the transient and dynamic stability, thereby enhances the performance of the generator. 
• On the basis of application, the global excitation system market has been segmented into synchronous generators and synchronous motors. The synchronous generators segment is projected to hold the largest share within the global excitation system market due to the increasing demand for synchronous generators in hydropower generating stations.

Regional Analysis

By region, the global excitation system market has been segmented into Asia Pacific, North America, Europe, South America, and the Middle East & Africa. 
The Asia Pacific is set to be the largest and fastest-growing region in the global excitation system market due to the rising share of renewable energy that will boost the excitation system in the region during the assessment period.

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Key Players

• General Electric (US)
• Amtech Power Ltd (India)
• KONČAR (Croatia)
• Nidec (Japan)
• Voith (Germany)
• Siemens (Germany)
• Basler Electric (US)
• Tenel
• s.r.o. (Czech Republic)
• Andritz (Austria)
• Reivax (Canada)
• VEO (Finland)
• Automation Electronics (India)
• ABB (Switzerland)

Table Of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope Of The Study

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

3.3 Market Size Estimation

3.4 Forecast Model

3.5 List Of Assumptions

3.6 Limitations Of The Study

Continued…

List Of Tables

Table 1 Global Excitation Systems Market, By Region, 2019-2025 (USD Million)

Table 2 North America Excitation Systems Market, By Country, 2019-2025 (USD Million)

Table 3 Europe Excitation Systems Market, By Country, 2019-2025 (USD Million)

Table 4 Asia-Pacific Excitation Systems Market, By Country, 2019-2025 (USD Million)

Table 5 Middle East & Africa Excitation Systems Market, By Country, 2019-2025 (USD Million)

Table 6 South America Excitation System Market, By Country, 2019-2025 (USD Million)

Table 7 Global Excitation Systems Market, By Type, 2019-2025 (USD Million)

Table 8 North America Excitation Systems Market, By Type, 2019-2025 (USD Million)

Table 9 Europe Excitation Systems Market, By Type, 2019-2025 (USD Million)

Table 10 Asia-Pacific Excitation Systems Market, By Type, 2019-2025 (USD Million)

Table 11 Middle East & Africa Excitation Systems Market, By Type, 2019-2025 (USD Million)

Continued…

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