Excitation Systems Market

Global Excitation Systems Market Size (2024-2032): 

The size of the global excitation systems market was worth USD 3.01 billion in 2023. The global market is anticipated to grow at a CAGR of 4.46% from 2024 to 2032 and be worth USD 4.46 billion by 2032 from USD 3.14 billion in 2024.

Current Scenario of the Global Excitation Systems Market

The Excitation System provides DC to the synchronous device area winding to carry out the electric machine's protective and manipulative functions. This equipment includes the exciter, PSS (Power System Stabilizer), AVR (Automatic Voltage Regulator), processing unit, and measuring elements. Excitation modern is the modern given using this gadget. These machines' input values are obtained by the use of measuring ingredients. The generator exciter's area winding provides electrical power, and the autonomic voltage regulator circuit controls the exciter modern. Inside the manipulation loop, the PSS stabilizer is employed to provide various signs.

DC Excitation System, AC Excitation System, and Static Excitation System are the three types of excitation systems. The main exciter and the pilot exciter are the two exciters in a DC (direct current) system. The automated voltage regulator regulates the exciter output, which controls the alternator's output terminal voltage. Field discharge resistors are connected to both ends of the field winding when the field switch is open. A thyristor rectifier bridge and a generator directly connected to the spindle make up the alternating current (AC) system. Individually stimulated or self-excited exciters are used in the AC system. A rectifier transformer, SCR output stage, excitation start, field discharge device, regulator, and operation control circuit make up the static excitation system. There are no spinning parts in the system, so there is no wind or rotational loss.

MARKET GROWTH

During the projected period, the need for excitation systems in synchronous machines is expected to rise due to the rapid growth of highly volatile energy generation via renewable sources such as hydro, solar, wind, and others.

MARKET DRIVERS

The key driver driving market expansion is the requirement for synchronous machines to provide stable operation, consistent power supply, and adequate plant operations.

Synchronous machines are used to make synchronous motors and generators. The synchronous machine and excitation system maintain the plant's efficient operation by providing a stable and continuous power supply. As a result, the excitation system influences operation readiness and ensures the synchronous machine's long-term reliability. On the other hand, the generator excitation system is the subsystem that requires the greatest maintenance. Therefore, various system equipment maintenance activities substantially impact a power plant's reliability. 

Growing concerns about global warming, carbon emissions, and pollution have prompted countries to shift to cleaner energy sources. Governments are putting in place plans to address these environmental concerns. As a result, Renewables will overtake coal as the world's leading source of energy generation in 2025, according to the International Energy Agency. Renewables are predicted to provide one-third of the world's electricity by then. Hydropower will continue to provide about half of the world's renewable energy. It is the most common renewable energy source, followed by wind and solar PV. As a result of these investments, the market for excitation systems expands.

MARKET RESTRAINTS

Generator excitation systems are recognized to be the most troublesome subsystems to maintain.

The maintenance actions performed on diverse system equipment significantly impact power plant reliability. If not properly maintained, excitation systems can be a primary cause of unscheduled outages of power plants. As a result, to avoid such outages, maintenance processes must be sufficiently altered to maintain effective system operation. The market for excitation systems is projected to be hampered due to this.

As additional countries turn to lockdowns to prevent further increases in the spread of the disease, the pandemic has hampered the expansion of the power business. As a result, the renewable energy sector, which had been growing at a breakneck pace until recently, has slowed in recent months.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Excitation Systems Market Analysis By Type:

In 2023, the brushless excitation systems market will be the fastest-expanding segment of the excitation systems industry. Brushless excitation systems do not need slip rings or carbon brushes to supply field currents to synchronous machines. Because these systems do not require carbon brushes, contact resistance losses are minimal, resulting in lower maintenance than static excitation systems.

Global Excitation Systems Market Analysis By Controller Type: 

The fastest and largest expanding segment is digital control, according to estimates. Digital excitation techniques significantly improve generator performance by enhancing both transient and dynamic stability. Another important aspect predicted to boost demand for digital control systems during the projected period is the ease with which analog to digital controls may be converted.

Global Excitation Systems Market Analysis By Application:

During the projection period, synchronous generators are expected to be the largest and fastest expanding sector. In generator operation, the synchronous generator is designed to feed the turbo-generator excitation winding with automatically regulated DC. The generator system includes a power circuit, automatic regulators, and protection and control systems, among other things. The need for excitation systems is predicted to rise in tandem with the demand for generators in hydropower generation.

REGIONAL ANALYSIS

In Asia-Pacific, increased demand for generators in hydropower is likely to support demand for excitation systems, as hydro generators use an excitation system to transform mechanical energy from the turbine into electrical energy. The industrial sector consumes the most energy of any end-use sector, which includes mining, manufacturing, agriculture, construction, data centers, and telecommunications. As a result, the need for generators is predicted to rise as the requirement for continuous and consistent power supply from these industries grows, particularly from healthcare facilities, pharmaceutical businesses, and manufacturing facilities. In addition, due to a strong expansion in manufacturing sectors, China and India are likely to see robust industrial growth in the next years, which would drive demand for generators in the industrial sector. As a result, as demand for industrial goods grows, so does the need for generators, which drives up demand for excitation systems. In addition, increased power outages have affected Indonesia's industrial sector, prompting an increase in the use of electric generators to maintain a consistent and steady power supply. Due to the regular power outages in these areas, South Sumatra and Jakarta are the main contributors to the market's growth in Indonesia.

KEY PLAYERS IN THE GLOBAL EXCITATION SYSTEMS MARKET

Companies playing a prominent role in the global excitation systems market include ABB Ltd., Amtech Power Ltd., ANDRITZ AG, Basler Electric Company, General Electric Company, KONCAR - Electronics and Informatics Inc., Siemens AG, Tenel, s.r.o, VEO Group, Voith GmbH & Co. KGaA, and Others.

RECENT HAPPENINGS IN THE GLOBAL EXCITATION SYSTEMS MARKET

• Soft-start is available to reduce input current, and in-built DC excitation and forced-commutation patterns commence desired rotation regardless of whether the motor was stopped or rotated in the wrong direction when a start order was received.
• ABB's equipment package for Himilaya Shipping's ultra-large bulk carriers will include innovative shaft generators with a Power-Take-Off (PTO) solution, which will include new drive systems and permanent magnet technology, boosting the vessels' energy efficiency by up to 4% while increasing operational flexibility. In addition, low-voltage drives and transformers, as well as engineering, project management, and commissioning services, are all part of ABB's comprehensive spectrum of supply for the Himalaya Shipping vessels.

DETAILED SEGMENTATION OF THE GLOBAL EXCITATION SYSTEMS MARKET INCLUDED IN THIS REPORT

This research report on the global excitation systems market has been segmented and sub-segmented based on type, controller type, application and region.

By Type

• Static
• Brushless

By Controller Type

• Analog
• Digital

By Application

• Synchronous Generators 
• Synchronous Motors

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa