Market Leaders - Excitation Systems Market
The global excitation systems market is projected to reach USD 3.4 billion by 2026 from an estimated USD 2.7 billion in 2021, at a CAGR of 4.4% during the forecast period. Asia Pacific is estimated to be the largest market for excitation systems, followed by North America, in 2020. This trend is expected to continue till 2026. The growth of excitation systems market is driven by an increase in demand for synchronous machines in hydro power plants, thermal power plants, and heavy industries.
The excitation systems market is dominated by a few major players that have a wide regional presence and are established brand names. ABB (Switzerland), Siemens Energy(Germany), General Electric (US), ANDRITZ Group (Austria), and Emerson (US) are the leading players in excitation systems market.
To know about the assumptions considered for the study download the pdf brochure
Major strategies adopted by the market players include contracts & agreements, new product launch, expansions, mergers & acquisitions, and investments & expansions. Contracts & agreements was the most commonly adopted strategy. The key integrated excitation systems players have been highlighted in the paragraphs below.
ABB is a leading power and automation company that offers products, services & systems for sectors such as utilities, infrastructure, industry, and transport. It operates in four business divisions, namely, electrification products, discrete automation and motion, process automation, and power grids. Excitation systems are offered by the company through the Industrial Automation business segment. The company operates in more than 100 countries with a wide network of manufacturing facilities, R&D centers, and service centers. The major competitors of the company include Siemens (Germany), Rockwell (US), and Johnson Electric (Hong Kong). In August 2019, ABB launched UNITROL 1000 series, an excitation product that is fully compliant with the new European grid code pioneered in Germany. Compliance of ABB UNITROL 1000 devices to the German grid code (VDE-AR-N 4110 and VDE-AR-N 4120) has been validated by the TÜV NORD certification body.
General Electric (GE) is a multinational conglomerate manufacturing products and services for various end-use sectors, such as aviation, power generation, oil & gas production, medical, financial, and industrial. operates through five business segments, namely, Power, Renewable Energy, Aviation, Capital, and Healthcare. The Power business segment offers excitation systems. GE has a strong presence across 170 countries. The company has a focus on contracts & agreements. For instance, in 2019 November, Reivax (Canada) and General Electric (US) signed a contract with Seattle City Light (US) to supply static excitation systems for boundary dam power stations.
Related Reports:
Excitation Systems Market by Type (Static and Brushless), Controller Type (Analog and Digital), Application (Synchronous Generators and Synchronous Motors), End User (Power Generation, Heavy Industries, and OEMs) and Region - Global Forecast to 2026
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
