According to a new market research report published by Global Insight Services “ Excitation Systems Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Excitation systems are used in power plants to control the speed and direction of the generator’s rotation. The system provides the generator with a rotating magnetic field, which is necessary for it to produce electricity. Excitation systems can be either static or rotating. Static systems use a set of magnets to create the magnetic field, while rotating systems use an electromagnet.
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Top Key Players in Excitation Systems market: ABB, Andritz AG, Basler Electric Company, Fuji Electric Co., General Electric, Mitsubishi Electric Corporation, Siemens AG
Key Trends
The key trends in Excitation Systems technology are:1. The move towards digital excitation systems: With the advent of digital technology, more and more manufacturers are offering digital excitation systems. These systems offer many benefits over traditional analog systems, including improved accuracy, greater flexibility, and easier integration with other digital systems.
Key Drivers
First, the ever-increasing demand for electricity is driving the need for more efficient and reliable power generation. This, in turn, is driving the need for better excitation systems.Second, the rise in renewable energy sources, such as wind and solar, is also driving the need for more efficient and reliable excitation systems.
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Market Segments
The Excitation Systems Market is segmented by type, controller type, application, end user, and region. Depending on type, the market is bifurcated into static and rotational. On the basis of controller type, it is categorized into analog and digital. As per application, it is classified into synchronous generator and synchronous motor. The end users covered in the study include power generation and other industrial. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Reasons to buy Excitation Systems Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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