여자 시스템 시장 규모는 2024년 27억 달러로 평가되며 2024년부터 2031년까지 연평균 4.7% 성장하여 2031년에는 39억 달러에 달할 것으로 예상됩니다. 여자 시스템은 동기화 기계의 핵심 구성요소로, 로터의 자기 권선에 직류 전류(DC)를 공급합니다. 이 기술은 기계 작동에 필요한 자기장을 제공하고 전자기 유도를 통해 교류(AC)를 생성 할 수 있습니다. 여자 시스템은 일반적으로 여자기, 자동 전압 조정기(AVR), 다양한 제어 및 측정 장치로 구성됩니다. 또한 주요 용도에는 발전의 전압 조정, 전력 시스템의 안정성 향상, 산업 환경의 역률 개선 등이 포함됩니다.
여자 시스템 시장을 형성하고 있는 주요 시장 역학
세계 전력 수요의 증가:
세계 전력 수요의 증가는 여자 시스템 시장의 주요 촉진요인입니다. 국제에너지기구(IEA)에 따르면 세계 전력 수요는 2040년까지 매년 2.1%씩 증가할 것으로 예상되며, COVID-19 사태에도 불구하고 세계 전력 수요는 2020년에 1% 정도만 감소하고 향후 몇 년 동안 회복 및 증가될 가능성이 높습니다. 이러한 수요 증가는 발전 시설의 건설 및 업데이트가 필요하며, 그 결과 고도의 여자 시스템이 필요합니다.
신재생에너지 분야 성장:
재생에너지, 특히 풍력 및 태양광발전의 급속한 확대로 인해 여기시스템에 대한 수요가 증가하고 있습니다. 국제재생에너지기구(IRENA)에 따르면 2020년 재생에너지 설비용량은 45% 증가한 280GW로 1999년 이후 가장 큰 전년 대비 성장률을 기록했습니다. 이러한 재생에너지 발전 설비의 증가는 안정적인 발전과 그리드 통합을 보장하기 위한 여자 시스템의 수요를 증가시키고 있습니다.
선진국의 전력 인프라 노후화:
많은 부유한 국가들은 보수와 업그레이드가 필요한 노후화된 전력 인프라라는 도전에 직면해 있습니다. 미국 에너지부에 따르면 전력 변압기의 70%가 25년 이상, 차단기의 60%가 30년 이상 된 것으로 나타났습니다. 이러한 노후화된 인프라는 효율성과 신뢰성을 향상시키기 위해 최신 여자 시스템을 포함한 새롭고 개선된 발전소에 대한 투자를 촉진하고 있습니다.
주요 과제
높은 유지보수 요구 사항:
여자 시스템의 높은 유지보수 요구 사항은 시장의 주요 제약 조건입니다. 적절한 유지보수가 이루어지지 않으면 여자 시스템은 발전소에서 예기치 않은 정전을 일으켜 운영을 중단하고 경제적 손실을 초래할 수 있습니다. 잦은 유지보수의 필요성은 잠재적 투자자의 의욕을 떨어뜨리고, 특히 운영 예산이 적고 유지보수 자원이 부족한 지역에서 시장 확대를 제한합니다.
빠른 기술 발전:
디지털 제어 시스템 기술의 급속한 발전도 장벽 중 하나입니다. 디지털 여자 제어 기술이 널리 보급됨에 따라 구식 여자 시스템은 경쟁에서 어려움을 겪을 것입니다. 이러한 전환은 개발을 따라잡기 위해 많은 연구 개발 투자가 필요하며, 이는 중소기업과 제한된 경영 자원을 가진 기업에게는 엄청난 비용이 소요됩니다.
에너지 가격의 변동:
에너지 가격의 변동은 여기 장치 시장에 영향을 미칩니다. 경기 침체와 에너지 시장 변동은 여자 시스템을 포함한 발전 인프라에 대한 투자 감소로 이어집니다. 에너지 가격이 하락하면 전력 회사는 기존 시스템의 업그레이드 및 교체를 연기하거나 축소하여 시장 성장과 여기 기술 혁신이 둔화됩니다.
주요 동향:
디지털 기술 통합의 진전:
디지털 기술의 도입 증가는 여자 시스템 시장의 주요 트렌드입니다. 디지털 여자 시스템은 동기기의 신뢰성과 효율성을 향상시키는 모니터링 및 제어 기능의 향상으로 인해 점점 더 널리 보급되고 있습니다. 이러한 시스템은 고급 알고리즘과 데이터 분석을 통해 성능을 극대화하고 전력 회사가 발전 및 배전을 더 잘 관리할 수 있도록 지원합니다.
브러시리스 여자 시스템 수요 증가:
브러시리스 여자 시스템에 대한 요구가 증가하고 있는 것도 개발의 한 부분입니다. 이 방식은 슬라이딩 링과 카본 브러시가 필요하지 않기 때문에 유지보수를 줄이고 신뢰성을 향상시킬 수 있습니다. 브러시리스 시스템은 운영 비용과 다운타임을 줄이고자 하는 기업들 사이에서 인기를 끌고 있습니다. 동력 전달의 효율성과 마모 및 파손 감소는 특히 유지보수 접근이 어려운 응용 분야에서의 채택 확대에 기여하고 있습니다.
재생에너지의 부상:
신재생에너지원의 출현은 여자 시스템 시장에 큰 영향을 미치고 있습니다. 에너지 상황이 태양광, 풍력, 수력발전으로 발전함에 따라 이러한 간헐적인 에너지원을 안정화하기 위해 신뢰할 수 있는 여자 시스템에 대한 수요가 증가하고 있습니다. 여자 시스템은 전압 안정성과 무효 전력 지원을 보장하는 데 중요한 역할을 하며, 이는 모두 재생에너지를 기존 전력망에 통합하고 시장 성장을 촉진하는 데 필요한 요소입니다.
Excitation Systems Market size was valued at USD 2.7 Billion in 2024 and is projected to reach USD 3.9 Billion by 2031, growing at a CAGR of 4.7% from 2024 to 2031. An excitation system is a critical component in synchronous machines, supplying direct current (DC) to the rotor's field windings. This technology provides a magnetic field required for the machine's operation, allowing it to produce alternating current (AC) via electromagnetic induction. The excitation system typically consists of an exciter, an automated voltage regulator (AVR), and a variety of control and measuring devices. Furthermore, its principal applications include voltage regulation in power generation, increased stability in power systems, and improved overall power factor in industrial settings.
The key market dynamics that are shaping the excitation systems market include:
Increasing Global Electricity Demand:
The rising global need for power is a major driver of the excitation systems market. According to the International Energy Agency (IEA), global electricity demand is expected to increase by 2.1% each year until 2040. Despite the COVID-19 epidemic, worldwide power demand declined by just around 1% in 2020 and is likely to recoup and rise in the years ahead. This growing demand necessitates the construction and updating of power-producing facilities, resulting in the necessity for sophisticated excitation systems.
Growing Renewable Energy Sector:
The fast expansion of renewable energy sources, particularly wind and solar power, is driving up demand for excitation systems. The International Renewable Energy Agency (IRENA) says that renewable energy capacity additions in 2020 increased by 45% to 280 GW, the greatest year-on-year rise since 1999. This growth in renewable energy installations is boosting the demand for excitation systems to ensure stable power generation and grid integration.
Aging Power Infrastructure in Developed Countries:
Many wealthy countries are experiencing the challenge of aging electricity infrastructure that requires renovation and upgrades. According to the US Department of Energy, 70% of power transformers are over 25 years old, while 60% of circuit breakers are over 30 years old. This aging infrastructure is pushing investments in new and improved power plants, including modern excitation systems, to improve efficiency and reliability.
Key Challenges:
High Maintenance Requirements:
The high maintenance requirements of excitation systems are a key restriction on the market. If not adequately maintained, excitation systems cause unscheduled outages in power plants, disrupting operations and resulting in financial losses. This requirement for frequent maintenance discourages potential investors and limits market expansion, especially in locations with small operational budgets and inadequate maintenance resources.
Rapid Technological Advancements:
The rapid growth of digital control system technology is another barrier. As digital excitation control technologies gain popularity, older excitation systems struggle to compete. This transition involves significant investment in research and development to stay up with developments, which is prohibitively expensive for smaller enterprises or those with limited resources, potentially leading to market consolidation as larger competitors dominate.
Fluctuations in Energy Prices:
Energy price fluctuations have an impact on the market for excitation systems. Economic downturns or energy market volatility result in lower investments in power generation infrastructure, including excitation systems. When energy prices are low, utilities postpone or reduce upgrades or replacements of current systems, slowing market growth and innovation in excitation technology.
Key Trends:
Growing Integration of Digital Technologies:
The increasing incorporation of digital technology is a major trend in the excitation systems market. Digital excitation systems are becoming more popular due to their improved monitoring and control capabilities, which increase the reliability and efficiency of synchronous machines. These systems maximize performance through advanced algorithms and data analytics, allowing utilities to better manage power generation and distribution, especially in the face of variable renewable energy demands.
Increasing Demand for Brushless Excitation Systems:
The rising need for brushless excitation systems is another development. These methods eliminate the need for slide rings and carbon brushes, resulting in lower maintenance and greater reliability. Brushless systems are gaining popularity as companies look to cut operational costs and downtime. Their efficiency in power transfer and decreased wear and tear contribute to their growing adoption, particularly in applications where maintenance access is challenging.
Rise of Renewable Energy Sources:
The advent of renewable energy sources has a considerable impact on the excitation systems market. As the energy landscape evolves toward solar, wind, and hydroelectric power, the demand for dependable excitation systems to stabilize these intermittent energy sources grows. Excitation systems serve an important role in ensuring voltage stability and reactive power support, both of which are required for integrating renewable energy into existing power grids and promoting market growth.
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Here is a more detailed regional analysis of the excitation systems market:
Asia Pacific:
According to Verified Market Research, the Asia Pacific region is estimated to dominate the excitation systems market over the forecast period. The Asia Pacific region is undergoing fast industrialization and urbanization, resulting in increased electricity demand. According to the Asian Development Bank (ADB), energy demand in the Asia-Pacific region is expected to increase by around 50% between 2018 and 2035. This large growth in energy consumption is driving the need for new power generation facilities as well as modifications to existing ones, resulting in increased demand for excitation systems in the region.
Countries in the Asia-Pacific region are making significant investments in power infrastructure to fulfill rising energy demand. The International Energy Agency (IEA) estimates that Southeast Asia will invest USD 350 Billion in energy infrastructure by 2025. China, the largest market in the region, aims to invest over USD 6.1 Trillion in power systems by 2040. These massive investments are directly contributing to the growth of the excitation systems market in the region.
Furthermore, the Asia Pacific region is increasingly focused on renewable energy to meet its growing electricity demand sustainably. The International Renewable Energy Agency (IRENA) estimated that Asia accounted for 64% of new renewable energy capacity additions globally in 2020. China alone added 136 gigawatts of renewable capacity that year. The fast expansion of renewable energy installations, particularly wind and solar power, is increasing the need for improved excitation systems to assure grid stability and power quality.
North America:
North America is estimated to exhibit substantial growth during the forecast period. North America, particularly the United States, is experiencing issues with its outdated electricity infrastructure, necessitating modernization and upgrades. According to the American Society of Civil Engineers' 2021 Infrastructure Report Card, the United States' energy infrastructure scored a C- grade, with 70% of transmission and distribution lines older than 25 years. This aging infrastructure is driving investments in new and improved power plants, including modern excitation systems, to improve efficiency and reliability.
The fast expansion of renewable energy sources in North America has increased the need for improved excitation systems to assure grid stability. According to the US Energy Information Administration (EIA), renewable energy sources accounted for around 21% of total electricity generation in the United States in 2020, with forecasts of 42% by 2050. This huge rise in renewable energy integration needs improved excitation systems to handle voltage variations and keep the grid stable.
Additionally, North America's electrical demand is steadily rising, necessitating capacity expansion and upgrades. The North American Electric Reliability Corporation (NERC) predicts that power demand in North America will increase by about 1.2% each year until 2030. According to the US EIA, the region will add more than 500 GW of additional generation capacity by 2050 to meet rising demand. This increase in power generation capacity is a major driver of the regional excitation systems market.
Europe:
Europe region is estimated to exhibit significant growth during the forecast period. Many European countries are facing the challenge of outdated electricity infrastructure that requires renovations and replacements. According to the European Commission, over 30% of the EU's electrical infrastructure is more than 40 years old. This aging infrastructure is pushing investment in new and improved power plants, including modern excitation systems. The EU's Recovery and Resilience Facility has committed €672.5 billion for post-COVID-19 recovery, with a large amount going toward energy infrastructure upgrades.
Europe is leading the global move to renewable energy, increasing demand for innovative excitation systems. According to Eurostat, the European Union's statistical office, renewable energy accounted for 22.1% of gross final energy consumption in the EU by 2020, up from 9.6% in 2004. This rapid increase in renewable energy installations needs improved excitation systems to assure grid stability and power quality, which is driving market expansion in the region.
Furthermore, the increasing interconnection of European power grids is generating demand for sophisticated excitation technologies to maintain system stability. According to the European Network of Transmission System Operators for Energy (ENTSO-E), cross-border energy flows in Europe grew by 4.3% in 2020 over 2019, hitting 420 TWh. This expanded interconnectedness necessitates complex excitation systems to provide voltage stability and smooth power transfers across borders.
The Global Excitation Systems Market is segmented based on Type, Controller Type, Application, and Geography.
Based on Type, the market is segmented into Static and Brushless. The static segment is estimated to dominate the excitation systems market due to its ability to provide dependable and effective voltage regulation without the use of slip rings or carbon brushes, hence reducing maintenance requirements. Static systems are preferred due to their excellent system response, operational flexibility, and minimal losses, making them suitable for a wide range of power generating and distribution applications. As a result, they have been the favored option for utilities and businesses, propelling significant market growth.
Based on Controller Type, the Excitation Systems Market is segmented into Analog and Digital. The digital segment is estimated to dominate the excitation systems market due to the growing demand for better control systems that improve the dependability and stability of synchronous machines. Digital controllers enable greater performance by monitoring in real-time and making accurate adjustments, which are critical for managing the complexities of modern power generation. As industries prioritize efficiency and operational reliability, the shift to digital solutions is projected to drive further market expansion in this segment.
Based on Application, the Excitation Systems Market is divided into Synchronous Generators and Synchronous Machines. The synchronous generators segment is anticipated to dominate the market over the forecast period due to the growing demand for dependable power generation, especially in hydropower applications where synchronous generators are required. These generators require stimulation systems to guarantee voltage stability and efficient operation. As the worldwide focus switches to renewable energy sources, the demand for synchronous generators is likely to increase, consolidating their market leadership during the forecast period.
Based on Geography, the excitation systems Excitation Systems Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is estimated to dominate during the forecasted period due to the rapid expansion of renewable energy sources and increased investments in power generation and transmission infrastructure in countries such as China and India. The region's growing industrial base and rising power demand exacerbate the need for dependable excitation systems, positioning it as a vital player in the worldwide market landscape.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.