Excitation System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Excitation System Market is Segmented by Type (Static and Brushless), Application (Synchronous Generator and Synchronous Motors), and Geography (North America, Asia-Pacific, Europe, South America, and Middle-East and Africa).

Excitation System Market Size

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Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 4.35 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

excitation systems market major players

*Disclaimer: Major Players sorted in no particular order

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Excitation System Market Analysis

The excitation system market is expected to record a CAGR of over 4.35% during the forecast period (2022 - 2027). The COVID-19 outbreak impacted the power industry globally. Due to the current scenario, various excitation system manufacturers worldwide shut down their manufacturing facilities and services as countries like the United States, China, and India practiced partial or full lockdown to deal with the pandemic. This factor resulted in the declination of excitation system sales worldwide. The ability to ensure reliable long-term operations for synchronous machines is one of the major factors expected to drive the market's growth. Growing investments in renewable energy plans, i.e., growing demand for excitation systems in solar and wind power applications, are expected to drive the market during the forecast period. However, difficulty in maintenance due to complex design is a major factor hindering the growth of the market studied.

  • Brushless excitation systems are expected to be the fastest-growing segment due to their advantages, including less maintenance and power loss reduction due to the absence of brushes and slip rings.
  • Increasing demand for synchronous machines in the HVDC network is expected to provide immense opportunities for the market in the coming years.
  • Asia-Pacific is expected to be the fastest-growing market during the forecast period, owing to the expansion of the industrial sector, especially in China and India.

Excitation System Market Trends

This section covers the major market trends shaping the Excitation System Market according to our research experts:

The Brushless Type Segment is Expected to Record a Faster Growth Rate

  • A brushless exciter is a directly coupled AC generator with its field circuit on the stator and then from circuit to motor. A solid-state rectifier rectifies the three-phase output of an AC exciter generator. The rectified output is connected directly to the field winding, thus eliminating the use of brushes and slip rings.
  • A brushless excitation system is always preferred with a slip ring excitation system because the losses are minimized to a large extent, and the efficiency is also increased. Hence, the brushless excitation type is preferred over the static excitation type.
  • Large synchronous machines like generators and motors are using brushless excitation systems. In modern power plants, large power transformation can be achieved using a brushless excitation system, which is considered a huge advantage. This factor may drive the demand for excitation systems during the forecast period.
  • In September 2020, Basler Electric introduced the DECS-450 brushless digital excitation control system as the newest product in its line of integrated excitation systems. The DECS-450 is built on the DECS microprocessor-based platform. It offers enhanced voltage regulation accuracy at 0.10%, five modes of excitation control, and integrated programmable logic.
  • In December 2020, Hitachi ABB Power Grids launched a year-long trial of the world's first hybrid solution, which combines a STATCOM (static compensator) with a synchronous condenser, a 4-pole motor with brushless excitation system, working with SP Energy Networks, the University of Strathclyde, and the Technical University of Denmark.
  • Therefore, based on the above-mentioned factors, the brushless type is expected to dominate the market at a faster rate during the forecast period.
excitation systems market share

Asia-Pacific to Grow at the Fastest Rate

  • The rising demand for generators in hydropower is expected to support the demand for excitation systems in Asia-Pacific, as hydro generators convert the mechanical energy from the turbine into electrical energy using an excitation system.
  • The industrial sector, which includes mining, manufacturing, agriculture, construction, data centers, and telecommunications, accounts for the largest share of energy consumption of any end-use sector. Therefore, the increasing demand for continuous and reliable power supply from these industries, especially from healthcare facilities, pharmaceutical industries, and manufacturing facilities, is expected to escalate the demand for generators.
  • China and India are expected to witness robust industrial growth in the coming years due to a sharp increase in manufacturing sectors, which is expected to drive the demand for generators in the industrial sector. Therefore, as the demand for the industrial sector is increasing, the demand for generators is also expected to increase, which, in turn, boosts the demand for excitation systems.
  • The increasing power blackouts have significantly hampered the industrial sector in Indonesia, which boosted the adoption of electric generators in the country to ensure continuous and reliable power supply. South Sumatra and Jakarta are the key contributing areas to the market's growth in Indonesia, owing to the frequent power blackouts in these areas.
  • In March 2020, Nidec Leroy-Somer launched TAL 0473. The TAL 0473 delivers a nominal power between 400 kVA and 660 kVA at 50 Hz (from 495 kVA to 825 kVA at 60 Hz). The alternator features a SHUNT excitation system and an R150 regulator as standard.
  • Moreover, in January 2020, ABB Ltd won drive orders for two different Sun Paper projects. The first order includes drives for PM1 and PM2 (PM- Paper Machine) at the Laos mill. The second order includes a synchronous motor and drive project for the pulp production line in Shandong, China.
  • Therefore, based on the above-mentioned factors, Asia-Pacific is expected to dominate the excitation system market during the forecast period.
excitation systems market growth rate

Excitation System Industry Overview

The excitation system market is fragmented. Some of the major players include ABB Ltd, Andritz AG, General Electric Company, Voith Group, and Siemens AG.

Excitation System Market Leaders

  1. Andritz AG

  2. General Electric Company

  3. Voith Group

  4. Siemens Energy

  5. ABB Ltd

*Disclaimer: Major Players sorted in no particular order

ABB Ltd, Andritz AG, General Electric Company, Voith Group, Siemens AG.
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Excitation System Market News

  • In November 2020, ABB won a contract to provide excitation systems and speed regulation for four generator units at the Governador José Richa hydropower plant on the Iguazu River. The solution helped Copel (Companhia Paranaense de Energia) enhance the visibility of its operational data using predictive diagnostics.
  • In May 2020, ANDRITZ signed a contract with Companhia Hidrelétrica do São Francisco (CHESF) to perform complete modernization and digitalization of the Sobradinho hydropower plant located on the São Francisco river, Brazil. The scope of supply comprises medium and low-voltage cubicles, excitation systems, turbine governor and protection, repair service, transformers, cooling, and ventilation systems.

Excitation System Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Static

      2. 5.1.2 Brushless

    2. 5.2 Application

      1. 5.2.1 Synchronous Generators

      2. 5.2.2 Synchronous Motors

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Asia-Pacific

      3. 5.3.3 Europe

      4. 5.3.4 South America

      5. 5.3.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 ABB Ltd

      2. 6.3.2 Siemens AG

      3. 6.3.3 General Electric Company

      4. 6.3.4 Andritz AG

      5. 6.3.5 Voith Group

      6. 6.3.6 Amtech Power Ltd

      7. 6.3.7 Basler Electric Co.

      8. 6.3.8 TENEL SRO

      9. 6.3.9 VEO Oy

      10. 6.3.10 KONČAR - Electronics and Informatics Inc.

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Excitation System Industry Segmentation

The scope of the excitation system market report includes:

Type
Static
Brushless
Application
Synchronous Generators
Synchronous Motors
Geography
North America
Asia-Pacific
Europe
South America
Middle-East and Africa
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Excitation System Market Research FAQs

The Excitation System Market is projected to register a CAGR of greater than 4.35% during the forecast period (2024-2029)

Andritz AG, General Electric Company, Voith Group, Siemens Energy and ABB Ltd are the major companies operating in the Excitation System Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Excitation System Market.

The report covers the Excitation System Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Excitation System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Excitation System Industry Report

Statistics for the 2024 Excitation System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Excitation System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Excitation System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)