Excitation Systems Market driven by Increasing Focus On Renewable Energy Integration
The Excitation Systems Market is used to provide excitation for synchronous machines and control the reactive power and voltage levels in power generation and distribution systems. Excitation systems play a vital role in maintaining stable synchronous generator operation of power plants by providing excitation current to the generator rotor winding coils. They ensure that generators deliver reactive power at desired levels to networks.
The global excitation systems market is estimated to be valued at US$ 4.28 Bn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.
Key players operating in the excitation systems market are ABB, Siemens Energy, General Electric, ANDRITZ Group, Voith Group, Nidec Corporation, KONCAR Group, Emerson, Melrose Industries PLC, Mitsubishi Electric Corporation, WEG, Tenel S.R.O, Basler Electric, Automation Electronics India, Amtech Power Ltd., Reivax, Veo Oy, L & S Electric, PLUTON Group, NR Electric Co. Ltd, Birr Machines, SVEA Power, Excitation & Engineering Services Ltd, Nelumbo Icona Controls Pvt. Ltd, and F&S PROZESSAUTOMATION GmbH.
Key Takeaways
Key players: Key players operating in the Excitation Systems Market Size are focusing on integrating advanced monitoring and control features in their product offerings to improve system efficiency and reliability. For instance, ABB offers digital excitation controls with integrated permanent magnet synchronous generator (PMSG) voltage regulation for wind turbines.
Growing demand: The growing integration of renewable energy sources such as solar and wind into national grids is driving demand for excitation systems. These renewable sources require synchronized excitation supply to effectively feed power into transmission networks.
Global expansion: Major excitation system manufacturers are expanding their presence across global markets to tap the increasing installation of new coal, gas, hydropower, and renewable energy plants. For example, General Electric has excitation system supply contracts for large power projects in countries like India, Indonesia, and South Africa.
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