DUBLIN--(BUSINESS WIRE)--The "Excitation Systems Market by Type (Static and Brushless), Controller Type (Analog and Digital), Application (Synchronous Generators and Synchronous Motors), and Region (North America, Asia Pacific, Europe) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Excitation Systems Market is Estimated at USD 2.64 Billion in 2018 and is Projected to Reach USD 3.12 Billion By 2023, at a CAGR of 3.38% from 2018 to 2023.
Rapid growth in the power sector is the key to the economic development of a country. Electricity is a key ingredient for the growth of various industries such as oil & gas, mining, utilities, chemicals, cement, and manufacturing. The increasing demand for power requires the upgrading and expansion of transmission and distribution infrastructure. This has increased the demand for synchronous machines in various end-use applications such as hydro, thermal, and nuclear power plants.
Energy saving and power factor correction abilities are the advantages provided by synchronous machines, which have a played a key role in their increasing popularity. The rising popularity of synchronous machines has, in turn, driven the growth of excitation systems. Synchronous machines require excitation systems as they play a key role in controlling the voltage output, protect the stator and rotor, and adjust plant voltage and reactive power automatically. Complex design that creates difficulty in maintenance is expected to restrain the market growth.
Brushless excitation systems are expected to emerge as the largest growing market. In brushless excitation systems, the field current is supplied to synchronous machines without using slip rings and carbon brushes. As these systems do not require carbon brushes, losses due to contact resistance are low, thus resulting in low maintenance as compared to static excitation systems.
Digital control systems provide a significant improvement in generator performance by improving transient as well as dynamic stability. Easy conversion of analog to digital controls is another key factor that is expected to foster the demand for digital control systems during the forecast period.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Excitation Systems Market, By Type
7 Excitation Systems Market, By Controller Type
8 Excitation Systems Market, By Application
9 Excitation Systems Market, By Region
10 Competitive Landscape
11 Company Profiles
- Altex Electric
- Amtech Power
- Automation Electronics India
- Basler Electric
- Konar Inem
- Rolls Royce
- VEO OY
For more information about this report visit https://www.researchandmarkets.com/research/dmxh3j/excitation?w=4