Global Excitation Systems Market: Introduction

  • The excitation system is used for production of flux by passing current in the field winding. The excitation current is provided by the excitation system. An excitation system consists of an autonomic voltage regulator, exciter, power system stabilizer, and limitation & protection unit.
  • These systems are used in synchronous machines. Excitation systems offers reliability under all conditions of service, simplicity of control, ease of maintenance, stability, and quick transient response.

Key Drivers and Restraints of Global Excitation Systems Market

  • Increase in the demand for synchronous machines is a major driver of the global excitation systems market. Synchronous machines are gaining popularity owing to their ability of ensuring long-term reliable operations, optimized use of energy, and low maintenance costs.
  • Increase in the demand for renewable energy is another key driver of the global excitation systems market. Demand for excitation systems in solar and wind energy sectors is rising, due to the reliability offered by these systems under all conditions as well as simplicity of control, ease of maintenance, and stability of these systems. Thus, increase in the demand for renewable energy is anticipated to drive the global excitation systems market during the forecast period.
  • High complexity and high maintenance costs of excitation systems are expected to restrain the global excitation systems market between 2019 and 2027. These systems are highly complex in design, due to which their maintenance cost is high.

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Global Excitation Systems Market: Segmentation

  • The global excitation systems market can be segmented based on type, controller type, and application
  • In terms of type, the global excitation systems market can be segmented into static and brushless. The brushless segment is expected to dominate the global market during the forecast period.
  • Based on controller type, the global excitation systems market can be segmented into analog controller and digital controller. The digital controller segment is estimated to account for a significant share of the global market during the forecast period.
  • Based on application, the global excitation systems market can be divided into synchronous generators and synchronous machines. The synchronous generators segment is anticipated to register the maximum growth rate during the forecast period. 

Global Excitation Systems Market: Regional Segmentation

  • Based on region, the global excitation systems market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Asia Pacific is expected to dominate the global excitation systems market during the forecast period. Dominance of the region can be ascribed to growing industrialization and urbanization in the region. Furthermore, development of infrastructure related to smart cities is increasing at a rapid pace in the region. This, in turn, is boosting the market in the region.
  • China accounted for a leading share of the excitation systems market in Asia Pacific in 2018. This was primarily attributable to rapid growth of the industrial sector in the country in 2018. Furthermore, significant rise in investments is expected in solar and wind energy generation in the country in the near future. This is projected to drive the excitation systems market in China during the forecast period.
  • The market in North America is expected to expand at a significant CAGR during the forecast period, due to increasing investments in the development of solar and wind power generation projects in the region. Rise in the demand for green energy and stringent government regulations drive the excitation systems market in the U.S.
  • In Europe, a significant number of solar and wind energy projects are ongoing in countries such as Germany, Italy, Spain, and France in order to reduce emissions of greenhouse gases (GHGs). This is expected to propel the excitation systems market in the region during the forecast period.

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Key Players Operating in Global Market:

  • Siemens
  • Basler Electric
  • Altex Electric
  • Nidec ASI spa
  • GE
  • Rolls Royce Holdings plc.
  • Tenel
  • Amtech Power
  • ANDRITZ
  • Voith

Global Excitation Systems Market: Research Scope

Global Excitation Systems Market, by Type

  • Static
  • Brushless

Global Excitation Systems Market, by Controller Type

  • Analog Controller
  • Digital Controller

Global Excitation Systems Market, by Application

  • Synchronous Generators
  • Synchronous Machines

Global Excitation Systems Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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