Table of Content

1 INTRODUCTION 29
1.1 STUDY OBJECTIVES 29
1.2 MARKET DEFINITION AND SCOPE 29
1.2.1 EXCITATION SYSTEMS MARKET, BY APPLICATION: INCLUSIONS & EXCLUSIONS 30
1.2.2 EXCITATION SYSTEMS MARKET, BY END USER: INCLUSIONS & EXCLUSIONS 30
1.3 MARKET SCOPE 30
1.3.1 MARKET SEGMENTATION 30
1.3.2 REGIONAL SCOPE 31
1.4 YEARS CONSIDERED 31
1.5 CURRENCY 31
1.6 LIMITATIONS 32
1.7 STAKEHOLDERS 32
1.8 SUMMARY OF CHANGES 32
2 RESEARCH METHODOLOGY 34
2.1 RESEARCH DATA 34
FIGURE 1 EXCITATION SYSTEMS MARKET: RESEARCH DESIGN 34
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 35
FIGURE 2 DATA TRIANGULATION METHODOLOGY 35
2.2.1 SECONDARY DATA 36
2.2.1.1 Key data from secondary sources 36
2.2.2 PRIMARY DATA 37
2.2.2.1 Key data from primary sources 37
2.2.2.2 Breakdown of primaries 38
2.3 SCOPE 38
2.4 IMPACT OF COVID-19 ON POWER INDUSTRY 39
2.5 MARKET SIZE ESTIMATION 39
2.5.1 BOTTOM-UP APPROACH 39
FIGURE 3 EXCITATION SYSTEMS MARKET: INDUSTRY-REGION/COUNTRY-WISE ANALYSIS 39
2.5.2 TOP-DOWN APPROACH 40
FIGURE 4 EXCITATION SYSTEMS MARKET: TOP-DOWN APPROACH 40
2.6 DEMAND-SIDE METRICS 41
FIGURE 5 MAIN METRICS CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR EXCITATION SYSTEMS 41
2.6.1 CALCULATION FOR DEMAND SIDE 41
2.6.2 ASSUMPTIONS FOR DEMAND SIDE 42
2.7 SUPPLY-SIDE ANALYSIS 42
FIGURE 6 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF EXCITATION SYSTEMS 42
FIGURE 7 EXCITATION SYSTEMS MARKET: SUPPLY-SIDE ANALYSIS, 2019 43
2.7.1 CALCULATIONS FOR SUPPLY SIDE 43
2.7.2 ASSUMPTIONS FOR SUPPLY SIDE 43
2.7.2.1 Key primary insights for supply side 43
2.8 FORECAST 44
3 EXECUTIVE SUMMARY 45
TABLE 1 EXCITATION SYSTEMS MARKET SNAPSHOT 45
FIGURE 8 ASIA PACIFIC DOMINATED EXCITATION SYSTEMS IN 2020 46
FIGURE 9 BRUSHLESS EXCITATION SYSTEMS TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 46
FIGURE 10 DIGITAL EXCITATION SYSTEMS TO HOLD COMMANDING POSITION DURING FORECAST PERIOD 47
FIGURE 11 SYNCHRONOUS GENERATORS TO LEAD EXCITATION SYSTEMS MARKET FROM 2021 TO 2026 47
FIGURE 12 ORIGINAL EQUIPMENT MANUFACTURERS TO COMMAND EXCITATION SYSTEMS MARKET DURING FORECAST PERIOD 48
4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE OPPORTUNITIES IN EXCITATION SYSTEMS MARKET, 2021–2026 49
FIGURE 13 RISING DEMAND FOR SYNCHRONOUS MACHINES TO DRIVE EXCITATION SYSTEMS MARKET GROWTH 49
4.2 EXCITATION SYSTEMS MARKET, BY TYPE 49
FIGURE 14 BRUSHLESS EXCITATION SYSTEMS HELD LARGER MARKET SHARE IN 2020 49
4.3 EXCITATION SYSTEMS MARKET, BY CONTROLLER TYPE 49
FIGURE 15 DIGITAL EXCITATION SYSTEMS CAPTURED LARGER MARKET SHARE THAN ANALOG EXCITATION SYSTEMS IN 2020 49
4.4 EXCITATION SYSTEMS MARKET, BY END USER 50
FIGURE 16 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS) HELD LARGEST MARKET SHARE IN 2020 50
4.5 EXCITATION SYSTEMS MARKET, BY REGION 50
FIGURE 17 MARKET IN ASIA PACIFIC TO GROW AT FASTEST RATE DURING FORECAST PERIOD 50
4.6 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY APPLICATION & COUNTRY 51
FIGURE 18 SYNCHRONOUS GENERATORS AND CHINA DOMINATED EXCITATION SYSTEMS MARKET IN ASIA PACIFIC IN 2020 51
5 MARKET OVERVIEW 52
5.1 INTRODUCTION 52
5.2 COVID-19 HEALTH ASSESSMENT 52
FIGURE 19 COVID-19 GLOBAL PROPAGATION 53
FIGURE 20 COVID-19 PROPAGATION IN SELECTED COUNTRIES 53
5.3 ROAD TO RECOVERY 54
FIGURE 21 RECOVERY ROAD FOR 2020 & 2021 54
5.4 COVID-19 ECONOMIC ASSESSMENT 55
FIGURE 22 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020 55
5.5 MARKET DYNAMICS 56
FIGURE 23 EXCITATION SYSTEMS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 56
5.5.1 DRIVERS 56
5.5.1.1 Increase in demand for uninterrupted and reliable power supply in several industries 56
FIGURE 24 ELECTRICITY DEMAND, BY SECTOR: STATED POLICIES SCENARIO, 2018–2040 57
5.5.1.2 Rise in demand for synchronous machines by industrial users to ensure uninterrupted power supply for efficient production 57
5.5.1.3 Advantages of synchronous machines, for example, energy conservation and ability to improve system power factor 58
5.5.2 RESTRAINTS 58
5.5.2.1 Complex design leading to difficulty in maintenance of excitation systems 58
5.5.3 OPPORTUNITIES 58
5.5.3.1 Increasing investments in renewable energy projects, especially in hydropower sector 58
FIGURE 25 RENEWABLE POWER INVESTMENTS, 2012–2020 59
5.5.3.2 Growing adoption of high-voltage direct-current (HVDC) technology in synchronous machines 59
5.5.4 CHALLENGES 60
5.5.4.1 Shortage of components/parts used in manufacturing excitation systems 60
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS 61
5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN EXCITATION SYSTEMS MARKET 61
FIGURE 26 REVENUE SHIFT FOR EXCITATION SYSTEMS MARKET PLAYERS 61
5.7 SUPPLY CHAIN ANALYSIS 62
FIGURE 27 EXCITATION SYSTEMS: SUPPLY CHAIN 62
TABLE 2 SUPPLY CHAIN PARTICIPANTS IN EXCITATION SYSTEMS MARKET 62
5.7.1 RAW MATERIAL PROVIDERS/SUPPLIERS 63
5.7.2 COMPONENT MANUFACTURERS 63
5.7.3 EXCITATION SYSTEM MANUFACTURERS/ASSEMBLERS 63
5.7.4 END USERS 63
5.8 MARKET MAP 63
FIGURE 28 EXCITATION SYSTEMS: MARKET MAP 64
5.9 AVERAGE PRICING OF EXCITATION SYSTEMS 64
5.10 TRADE DATA STATISTICS 65
TABLE 3 REGION-WISE IMPORT DATA, 2018–2019 (USD MILLION) 65
TABLE 4 REGION-WISE EXPORT DATA, 2018–2019 (USD MILLION) 65
5.11 PORTER’S FIVE FORCES ANALYSIS 66
FIGURE 29 EXCITATION SYSTEMS MARKET: PORTER’S FIVE FORCES ANALYSIS 66
TABLE 5 EXCITATION SYSTEMS MARKET: PORTER’S FIVE FORCES 66
5.11.1 THREAT OF NEW ENTRANTS 67
5.11.2 THREAT OF SUBSTITUTES 67
5.11.3 BARGAINING POWER OF SUPPLIERS 67
5.11.4 BARGAINING POWER OF BUYERS 67
5.11.5 INTENSITY OF RIVALRY 67
5.12 TECHNOLOGY ANALYSIS 68
5.12.1 TECHNOLOGY TRENDS FOR EXCITATION SYSTEMS 68
5.13 EXCITATION SYSTEMS: CODES AND REGULATIONS 68
5.14 EXCITATION SYSTEMS: PATENT ANALYSIS 69
5.14.1 INNOVATIONS & PATENT REGISTRATION 69
TABLE 6 IMPORTANT INNOVATION & PATENT REGISTRATION, 2016–2020 69
5.15 CASE STUDY ANALYSIS 70
5.15.1 EXCITATION SYSTEMS FOR HYDROPOWER PLANT 70
5.15.1.1 Reivax introduced static excitation systems for 826-MVA project 70
6 EXCITATION SYSTEMS MARKET, BY TYPE 71
6.1 INTRODUCTION 72
FIGURE 30 BRUSHLESS EXCITATION SYSTEMS LED MARKET IN 2020 72
TABLE 7 EXCITATION SYSTEMS MARKET, BY TYPE, 2016–2019 (USD BILLION) 72
TABLE 8 EXCITATION SYSTEMS MARKET, BY TYPE, 2020–2026 (USD BILLION) 72
6.2 STATIC 73
6.2.1 INCREASED NEED FOR HIGH-PERFORMANCE AND FAST-RESPONSE EXCITATION SYSTEMS 73
TABLE 9 STATIC EXCITATION SYSTEMS MARKET, BY REGION,
2016–2019 (USD MILLION) 73
TABLE 10 STATIC EXCITATION SYSTEMS MARKET, BY REGION,
2020–2025 (USD MILLION) 73
6.3 BRUSHLESS 74
6.3.1 LOW MAINTENANCE AND HIGH RELIABILITY OF BRUSHLESS EXCITATION SYSTEMS 74
TABLE 11 BRUSHLESS EXCITATION SYSTEMS MARKET, BY REGION,
2016–2019 (USD MILLION) 74
TABLE 12 BRUSHLESS EXCITATION SYSTEMS MARKET, BY REGION,
2020–2025 (USD MILLION) 74
7 EXCITATION SYSTEMS MARKET, BY CONTROLLER TYPE 75
7.1 INTRODUCTION 76
FIGURE 31 DIGITAL CONTROL SYSTEMS DOMINATED EXCITATION SYSTEMS MARKET IN 2020 76
TABLE 13 EXCITATION SYSTEMS MARKET, BY CONTROLLER TYPE,
2016–2019 (USD BILLION) 76
TABLE 14 EXCITATION SYSTEMS MARKET, BY CONTROLLER TYPE,
2020–2026 (USD BILLION) 76
7.2 ANALOG 77
7.2.1 RELIABILITY OF ANALOG EXCITATION SYSTEMS TO MODERATELY DRIVE MARKET GROWTH IN COMING YEARS 77
TABLE 15 ANALOG EXCITATION SYSTEMS MARKET, BY REGION,
2016–2019 (USD MILLION) 77
TABLE 16 ANALOG EXCITATION SYSTEMS MARKET, BY REGION,
2020–2026 (USD MILLION) 77
7.3 DIGITAL 78
7.3.1 REPLACEMENT OF ANALOG EXCITATION SYSTEMS WITH DIGITAL EXCITATION SYSTEMS TO FUEL MARKET GROWTH 78
TABLE 17 DIGITAL EXCITATION SYSTEMS MARKET, BY REGION,
2016–2019 (USD MILLION) 78
TABLE 18 DIGITAL EXCITATION SYSTEMS MARKET, BY REGION,
2020–2026 (USD MILLION) 79
8 EXCITATION SYSTEMS MARKET, BY APPLICATION 80
8.1 INTRODUCTION 81
FIGURE 32 SYNCHRONOUS GENERATORS DOMINATED EXCITATION SYSTEMS MARKET, BY APPLICATION, IN 2020 81
TABLE 19 EXCITATION SYSTEMS MARKET, BY APPLICATION, 2016–2019 (USD BILLION) 81
TABLE 20 EXCITATION SYSTEMS MARKET, BY APPLICATION, 2020–2026 (USD BILLION) 81
8.2 SYNCHRONOUS GENERATORS 82
8.2.1 INCREASING FOCUS ON IMPROVING STABILITY OF POWER SYSTEMS 82
TABLE 21 EXCITATION SYSTEMS MARKET FOR SYNCHRONOUS GENERATORS,
BY REGION, 2016–2019 (USD MILLION) 82
TABLE 22 EXCITATION SYSTEMS MARKET FOR SYNCHRONOUS GENERATORS,
BY REGION, 2020–2026 (USD MILLION) 83
8.3 SYNCHRONOUS MOTORS 83
8.3.1 SURGING DEMAND FOR SYNCHRONOUS MOTORS BY HEAVY INDUSTRIES 83
TABLE 23 EXCITATION SYSTEMS MARKET FOR SYNCHRONOUS MOTORS, BY REGION, 2016–2019 (USD MILLION) 84
TABLE 24 EXCITATION SYSTEMS MARKET FOR SYNCHRONOUS MOTORS, BY REGION, 2020–2026 (USD MILLION) 84
9 EXCITATION SYSTEMS MARKET, BY END USER 85
9.1 INTRODUCTION 86
FIGURE 33 ORIGINAL EQUIPMENT MANUFACTURERS COMMANDED EXCITATION SYSTEMS MARKET IN 2020 86
TABLE 25 EXCITATION SYSTEMS MARKET, BY END USER, 2019–2026 (USD BILLION) 86
9.2 POWER GENERATION INDUSTRY 87
TABLE 26 EXCITATION SYSTEMS MARKET FOR POWER GENERATION INDUSTRY,
BY REGION, 2019–2026 (USD MILLION) 87
TABLE 27 EXCITATION SYSTEMS MARKET FOR POWER GENERATION INDUSTRY,
BY TYPE, 2019–2026 (USD MILLION) 87
9.2.1 HYDROELECTRIC POWER PLANTS 88
9.2.1.1 Increased focus on expanding hydropower installed capacity propelled market growth 88
TABLE 28 EXCITATION SYSTEMS MARKET FOR HYDROELECTRIC POWER PLANTS, BY REGION, 2019–2026 (USD MILLION) 88
9.2.2 THERMAL POWER PLANTS 89
9.2.2.1 Urgent need to upgrade aging electric infrastructure drives market growth 89
TABLE 29 EXCITATION SYSTEMS MARKET FOR THERMAL POWER PLANTS, BY REGION, 2019–2026 (USD MILLION) 89
9.3 HEAVY INDUSTRIES 90
TABLE 30 EXCITATION SYSTEMS MARKET FOR HEAVY INDUSTRIES, BY REGION,
2019–2026 (USD MILLION) 90
TABLE 31 EXCITATION SYSTEMS MARKET FOR HEAVY INDUSTRIES, BY TYPE,
2019–2026 (USD MILLION) 90
9.3.1 MARINE 91
9.3.1.1 Growing number of commercial vessels for maritime freight transport to spur demand for excitation systems 91
TABLE 32 EXCITATION SYSTEMS MARKET FOR MARINE INDUSTRY, BY REGION,
2019–2026 (USD MILLION) 91
9.3.2 OTHERS 92
TABLE 33 EXCITATION SYSTEMS MARKET FOR OTHER HEAVY INDUSTRIES, BY REGION, 2019–2026 (USD MILLION) 92
9.4 ORIGINAL EQUIPMENT MANUFACTURERS 93
9.4.1 SURGING DEMAND FOR SYNCHRONOUS MACHINES TO PROMOTE MARKET GROWTH 93
TABLE 34 EXCITATION SYSTEMS MARKET FOR OEMS, BY REGION,
2019–2026 (USD MILLION) 93
10 GEOGRAPHIC ANALYSIS 94
10.1 INTRODUCTION 95
FIGURE 34 EXCITATION SYSTEMS MARKET, BY REGION, 2020 95
FIGURE 35 REGIONAL SNAPSHOT: ASIA PACIFIC TO REGISTER HIGHEST CAGR IN EXCITATION SYSTEMS MARKET DURING FORECAST PERIOD 95
TABLE 35 EXCITATION SYSTEMS MARKET, BY REGION, 2016–2019 (USD MILLION) 96
TABLE 36 EXCITATION SYSTEMS MARKET, BY REGION, 2020–2026 (USD MILLION) 96
10.2 ASIA PACIFIC 97
10.2.1 IMPACT OF COVID-19 ON EXCITATION SYSTEMS MARKET IN ASIA PACIFIC 97
FIGURE 36 ASIA PACIFIC: EXCITATION SYSTEMS MARKET SNAPSHOT 98
10.2.2 BY TYPE 98
TABLE 37 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY TYPE,
2016–2019 (USD MILLION) 98
TABLE 38 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY TYPE,
2020–2026 (USD MILLION) 99
10.2.3 BY CONTROLLER TYPE 99
TABLE 39 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY CONTROLLER TYPE, 2016–2019 (USD MILLION) 99
TABLE 40 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY CONTROLLER TYPE, 2020–2026 (USD MILLION) 99
10.2.4 BY APPLICATION 99
TABLE 41 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY APPLICATION,
2016–2019 (USD MILLION) 99
TABLE 42 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY APPLICATION,
2020–2026 (USD MILLION) 100
10.2.5 BY END USER 100
TABLE 43 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY END USER,
2019–2026 (USD MILLION) 100
10.2.5.1 By power generation industry 100
TABLE 44 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC FOR POWER GENERATION INDUSTRY, BY TYPE, 2019–2026 (USD MILLION) 100
10.2.5.2 By heavy industries 101
TABLE 45 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC FOR HEAVY INDUSTRIES, BY TYPE, 2019–2026 (USD MILLION) 101
10.2.6 BY COUNTRY 101
TABLE 46 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY COUNTRY,
2016–2019 (USD MILLION) 101
TABLE 47 EXCITATION SYSTEMS MARKET IN ASIA PACIFIC, BY COUNTRY,
2020–2026 (USD MILLION) 101
10.2.6.1 China 102
10.2.6.1.1 Government reforms and policies to speed up clean energy transformation 102
TABLE 48 EXCITATION SYSTEMS MARKET IN CHINA, BY TYPE,
2016–2019 (USD MILLION) 102
TABLE 49 EXCITATION SYSTEMS MARKET IN CHINA, BY TYPE,
2020–2026 (USD MILLION) 103
10.2.6.2 India 103
10.2.6.2.1 Government investments in hydropower plants 103
TABLE 50 EXCITATION SYSTEMS MARKET IN INDIA, BY TYPE,
2016–2019 (USD MILLION) 104
TABLE 51 EXCITATION SYSTEMS MARKET IN INDIA, BY TYPE,
2020–2026 (USD MILLION) 104
10.2.6.3 Japan 104
10.2.6.3.1 High demand for synchronous machines in marine industry 104
TABLE 52 EXCITATION SYSTEMS MARKET IN JAPAN, BY TYPE,
2016–2019 (USD MILLION) 105
TABLE 53 EXCITATION SYSTEMS MARKET IN JAPAN, BY TYPE,
2020–2026 (USD MILLION) 105
10.2.6.4 South Korea 105
10.2.6.4.1 Increased requirement for high-efficiency equipment to reduce carbon emissions 105
TABLE 54 EXCITATION SYSTEMS MARKET IN SOUTH KOREA, BY TYPE,
2016–2019 (USD MILLION) 106
TABLE 55 EXCITATION SYSTEMS MARKET IN SOUTH KOREA, BY TYPE,
2020–2026 (USD MILLION) 106
10.2.6.5 Australia 106
10.2.6.5.1 Massive investment in mining industry 106
TABLE 56 EXCITATION SYSTEMS MARKET IN AUSTRALIA, BY TYPE,
2016–2019 (USD MILLION) 107
TABLE 57 EXCITATION SYSTEMS MARKET IN AUSTRALIA, BY TYPE,
2020–2026 (USD MILLION) 107
10.2.6.6 Rest of Asia Pacific 107
TABLE 58 EXCITATION SYSTEMS MARKET IN REST OF ASIA PACIFIC, BY TYPE,
2016–2019 (USD MILLION) 108
TABLE 59 EXCITATION SYSTEMS MARKET IN REST OF ASIA PACIFIC, BY TYPE,
2020–2026 (USD MILLION) 108
10.3 NORTH AMERICA 108
10.3.1 IMPACT OF COVID-19 ON EXCITATION SYSTEMS MARKET IN NORTH AMERICA 109
FIGURE 37 NORTH AMERICA: EXCITATION SYSTEMS MARKET SNAPSHOT 109
10.3.2 BY TYPE 110
TABLE 60 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY TYPE,
2016–2019 (USD MILLION) 110
TABLE 61 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY TYPE,
2020–2026 (USD MILLION) 110
10.3.3 BY CONTROLLER TYPE 110
TABLE 62 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY CONTROLLER TYPE, 2016–2019 (USD MILLION) 110
TABLE 63 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY CONTROLLER TYPE, 2020–2026 (USD MILLION) 110
10.3.4 BY APPLICATION 111
TABLE 64 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION) 111
TABLE 65 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY APPLICATION,
2020–2026 (USD MILLION) 111
10.3.5 BY END USER 111
TABLE 66 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY END USER,
2019–2026 (USD MILLION) 111
10.3.5.1 By power generation industry 112
TABLE 67 EXCITATION SYSTEMS MARKET IN NORTH AMERICA FOR POWER GENERATION INDUSTRY, BY TYPE, 2019–2026 (USD MILLION) 112
10.3.5.2 BY heavy industries 112
TABLE 68 EXCITATION SYSTEMS MARKET IN NORTH AMERICA FOR HEAVY INDUSTRIES, BY TYPE,2019–2026 (USD MILLION) 112
10.3.6 BY COUNTRY 112
TABLE 69 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY COUNTRY,
2016–2019 (USD MILLION) 112
TABLE 70 EXCITATION SYSTEMS MARKET IN NORTH AMERICA, BY COUNTRY,
2020–2026 (USD MILLION) 113
10.3.6.1 US 113
10.3.6.1.1 Increasing investment in building and refurbishing hydroelectric generation stations boosts market growth 113
TABLE 71 EXCITATION SYSTEMS MARKET IN US, BY TYPE, 2016–2019 (USD MILLION) 114
TABLE 72 EXCITATION SYSTEMS MARKET IN US, BY TYPE, 2020–2026 (USD MILLION) 114
10.3.6.2 Canada 114
10.3.6.2.1 Surging demand for synchronous machines in oil & gas to propel market growth 114
TABLE 73 EXCITATION SYSTEMS MARKET IN CANADA, BY TYPE,
2016–2019 (USD MILLION) 115
TABLE 74 EXCITATION SYSTEMS MARKET IN CANADA, BY TYPE,
2020–2026 (USD MILLION) 115
10.3.6.3 Mexico 115
10.3.6.3.1 Booming industrial sector to boost demand for excitation systems 115
TABLE 75 EXCITATION SYSTEMS MARKET IN MEXICO, BY TYPE,
2016–2019 (USD MILLION) 116
TABLE 76 EXCITATION SYSTEMS MARKET IN MEXICO, BY TYPE,
2020–2026 (USD MILLION) 116
10.4 EUROPE 116
10.4.1 IMPACT OF COVID-19 ON EXCITATION SYSTEMS MARKET IN EUROPE 117
10.4.2 BY TYPE 117
TABLE 77 EXCITATION SYSTEMS MARKET IN EUROPE, BY TYPE,
2016–2019 (USD MILLION) 117
TABLE 78 EXCITATION SYSTEMS MARKET IN EUROPE, BY TYPE,
2020–2026 (USD MILLION) 117
10.4.3 BY CONTROLLER TYPE 117
TABLE 79 EXCITATION SYSTEMS MARKET IN EUROPE, BY CONTROLLER TYPE,
2016–2019 (USD MILLION) 117
TABLE 80 EXCITATION SYSTEMS MARKET IN EUROPE, BY CONTROLLER TYPE,
2020–2026 (USD MILLION) 118
10.4.4 BY APPLICATION 118
TABLE 81 EXCITATION SYSTEMS MARKET IN EUROPE, BY APPLICATION,
2016–2019 (USD MILLION) 118
TABLE 82 EXCITATION SYSTEMS MARKET IN EUROPE, BY APPLICATION,
2020–2026 (USD MILLION) 118
10.4.5 BY END USER 118
TABLE 83 EXCITATION SYSTEMS MARKET IN EUROPE, BY END USER,
2019–2026 (USD MILLION) 118
10.4.5.1 By power generation industry 119
TABLE 84 EXCITATION SYSTEMS MARKET IN EUROPE FOR POWER GENERATION INDUSTRY, BY TYPE, 2019–2026 (USD MILLION) 119
10.4.5.2 By heavy industries 119
TABLE 85 EXCITATION SYSTEMS MARKET IN EUROPE FOR HEAVY INDUSTRIES, BY TYPE, 2019–2026 (USD MILLION) 119
10.4.6 BY COUNTRY 119
TABLE 86 EXCITATION SYSTEMS MARKET IN EUROPE, BY COUNTRY,
2016–2019 (USD MILLION) 119
TABLE 87 EXCITATION SYSTEMS MARKET IN EUROPE, BY COUNTRY,
2020–2026 (USD MILLION) 120
10.4.6.1 Russia 120
10.4.6.1.1 Substantial investments in T&D sector 120
TABLE 88 EXCITATION SYSTEMS MARKET IN RUSSIA, BY TYPE,
2016–2019 (USD MILLION) 120
TABLE 89 EXCITATION SYSTEMS MARKET IN RUSSIA, BY TYPE,
2020–2026 (USD MILLION) 121
10.4.6.2 Germany 121
10.4.6.2.1 Strong focus on development of manufacturing sector 121
TABLE 90 EXCITATION SYSTEMS MARKET IN GERMANY, BY TYPE,
2016–2019 (USD MILLION) 121
TABLE 91 EXCITATION SYSTEMS MARKET IN GERMANY, BY TYPE,
2020–2026 (USD MILLION) 122
10.4.6.3 UK 122
10.4.6.3.1 Government initiative to improve maritime trade 122
TABLE 92 EXCITATION SYSTEMS MARKET IN UK, BY TYPE, 2016–2019 (USD MILLION) 122
TABLE 93 EXCITATION SYSTEMS MARKET IN UK, BY TYPE, 2020–2026 (USD MILLION) 123
10.4.6.4 Italy 123
10.4.6.4.1 Thriving industrial sector in Italy 123
TABLE 94 EXCITATION SYSTEMS MARKET IN ITALY, BY TYPE,
2016–2019 (USD MILLION) 123
TABLE 95 EXCITATION SYSTEMS MARKET IN ITALY, BY TYPE,
2020–2026 (USD MILLION) 124
10.4.6.5 Norway 124
10.4.6.5.1 High dependence on hydroelectric power plants 124
TABLE 96 EXCITATION SYSTEMS MARKET IN NORWAY, BY TYPE,
2016–2019 (USD MILLION) 124
TABLE 97 EXCITATION SYSTEMS MARKET IN NORWAY, BY TYPE,
2020–2026 (USD MILLION) 125
10.4.6.6 Rest of Europe 125
TABLE 98 EXCITATION SYSTEMS MARKET IN REST OF EUROPE, BY TYPE,
2016–2019 (USD MILLION) 125
TABLE 99 EXCITATION SYSTEMS MARKET IN REST OF EUROPE, BY TYPE,
2020–2026 (USD MILLION) 125
10.5 SOUTH AMERICA 126
10.5.1 IMPACT OF COVID-19 ON EXCITATION SYSTEMS MARKET IN SOUTH AMERICA 126
10.5.2 BY TYPE 126
TABLE 100 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY TYPE,
2016–2019 (USD MILLION) 126
TABLE 101 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY TYPE,
2020–2026 (USD MILLION) 127
10.5.3 BY CONTROLLER TYPE 127
TABLE 102 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY CONTROLLER TYPE, 2016–2019 (USD MILLION) 127
TABLE 103 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY CONTROLLER TYPE, 2020–2026 (USD MILLION) 127
10.5.4 BY APPLICATION 127
TABLE 104 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION) 127
TABLE 105 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY APPLICATION,
2020–2026 (USD MILLION) 128
10.5.5 BY END USER 128
TABLE 106 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY END USER,
2019–2026 (USD MILLION) 128
10.5.5.1 By power generation industry 128
TABLE 107 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA FOR POWER GENERATION INDUSTRY, BY TYPE, 2019–2026 (USD MILLION) 128
10.5.5.2 BY heavy industries 129
TABLE 108 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA FOR HEAVY INDUSTRIES, BY TYPE, 2019–2026 (USD MILLION) 129
10.5.6 BY COUNTRY 129
TABLE 109 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY COUNTRY,
2016–2019 (USD MILLION) 129
TABLE 110 EXCITATION SYSTEMS MARKET IN SOUTH AMERICA, BY COUNTRY,
2020–2026 (USD MILLION) 129
10.5.6.1 Brazil 130
10.5.6.1.1 Increasing investments in oil & gas and hydropower projects to fuel demand for excitation systems 130
TABLE 111 EXCITATION SYSTEMS MARKET IN BRAZIL, BY TYPE,
2016–2019 (USD MILLION) 130
TABLE 112 EXCITATION SYSTEMS MARKET IN BRAZIL, BY TYPE,
2020–2026 (USD MILLION) 130
10.5.6.2 Argentina 131
10.5.6.2.1 Growing dependence on thermal power and surging naval budgets to support excitation systems market growth 131
TABLE 113 EXCITATION SYSTEMS MARKET IN ARGENTINA, BY TYPE,
2016–2019 (USD MILLION) 131
TABLE 114 EXCITATION SYSTEMS MARKET IN ARGENTINA, BY TYPE,
2020–2026 (USD MILLION) 131
10.5.6.3 Rest of South America 132
TABLE 115 EXCITATION SYSTEMS MARKET IN REST OF SOUTH AMERICA, BY TYPE, 2016–2019 (USD MILLION) 132
TABLE 116 EXCITATION SYSTEMS MARKET IN REST OF SOUTH AMERICA, BY TYPE, 2020–2026 (USD MILLION) 132
10.6 MIDDLE EAST 133
10.6.1 IMPACT OF COVID-19 ON EXCITATION SYSTEMS MARKET IN MIDDLE EAST 133
10.6.2 BY TYPE 133
TABLE 117 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY TYPE,
2016–2019 (USD MILLION) 133
TABLE 118 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY TYPE,
2020–2026 (USD MILLION) 134
10.6.3 BY CONTROLLER TYPE 134
TABLE 119 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY CONTROLLER TYPE, 2016–2019 (USD MILLION) 134
TABLE 120 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY CONTROLLER TYPE, 2020–2026 (USD MILLION) 134
10.6.4 BY APPLICATION 134
TABLE 121 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY APPLICATION,
2016–2019 (USD MILLION) 134
TABLE 122 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY APPLICATION,
2020–2026 (USD MILLION) 135
10.6.5 BY END USER 135
TABLE 123 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY END USER,
2019–2026 (USD MILLION) 135
10.6.5.1 By power generation industry 135
TABLE 124 EXCITATION SYSTEMS MARKET IN MIDDLE EAST FOR POWER GENERATION INDUSTRY, BY TYPE, 2019–2026 (USD MILLION) 135
10.6.5.2 BY heavy industries 136
TABLE 125 EXCITATION SYSTEMS MARKET IN MIDDLE EAST FOR HEAVY INDUSTRIES, BY TYPE, 2019–2026 (USD MILLION) 136
10.6.6 BY COUNTRY 136
TABLE 126 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY COUNTRY,
2016–2019 (USD MILLION) 136
TABLE 127 EXCITATION SYSTEMS MARKET IN MIDDLE EAST, BY COUNTRY,
2020–2026 (USD MILLION) 136
10.6.6.1 Saudi Arabia 137
10.6.6.1.1 Government initiatives to meet rising demand for energy to foster market growth 137
TABLE 128 EXCITATION SYSTEMS MARKET IN SAUDI ARABIA, BY TYPE,
2016–2019 (USD MILLION) 137
TABLE 129 EXCITATION SYSTEMS MARKET IN SAUDI ARABIA, BY TYPE,
2020–2026 (USD MILLION) 137
10.6.6.2 Oman 138
10.6.6.2.1 Thriving oil & gas sector to encourage demand for excitation systems 138
TABLE 130 EXCITATION SYSTEMS MARKET IN OMAN, BY TYPE,
2016–2019 (USD MILLION) 138
TABLE 131 EXCITATION SYSTEMS MARKET IN OMAN, BY TYPE,
2020–2026 (USD MILLION) 138
10.6.6.3 Qatar 139
10.6.6.3.1 Huge investment in heavy industries to fuel market growth 139
TABLE 132 EXCITATION SYSTEMS MARKET IN QATAR, BY TYPE,
2016–2019 (USD MILLION) 139
TABLE 133 EXCITATION SYSTEMS MARKET IN QATAR, BY TYPE,
2020–2026 (USD MILLION) 139
10.6.6.4 UAE 140
10.6.6.4.1 Government initiatives toward digitalization for energy conservation to accelerate demand for excitation systems 140
TABLE 134 EXCITATION SYSTEMS MARKET IN UAE, BY TYPE, 2016–2019 (USD MILLION) 140
TABLE 135 EXCITATION SYSTEMS MARKET IN UAE, BY TYPE, 2020–2026 (USD MILLION) 140
10.6.6.5 Rest of Middle East 141
TABLE 136 EXCITATION SYSTEMS MARKET IN REST OF MIDDLE EAST, BY TYPE,
2016–2019 (USD MILLION) 141
TABLE 137 EXCITATION SYSTEMS MARKET IN REST OF MIDDLE EAST, BY TYPE,
2020–2026 (USD MILLION) 141
10.7 AFRICA 142
10.7.1 IMPACT OF COVID-19 ON EXCITATION SYSTEMS MARKET IN AFRICA 142
10.7.2 BY TYPE 142
TABLE 138 EXCITATION SYSTEMS MARKET IN AFRICA, BY TYPE,
2016–2019 (USD MILLION) 142
TABLE 139 EXCITATION SYSTEMS MARKET IN AFRICA, BY TYPE,
2020–2026 (USD MILLION) 143
10.7.3 BY CONTROLLER TYPE 143
TABLE 140 EXCITATION SYSTEMS MARKET IN AFRICA, BY CONTROLLER TYPE,
2016–2019 (USD MILLION) 143
TABLE 141 EXCITATION SYSTEMS MARKET IN AFRICA, BY CONTROLLER TYPE,
2020–2026 (USD MILLION) 143
10.7.4 BY APPLICATION 143
TABLE 142 EXCITATION SYSTEMS MARKET IN AFRICA, BY APPLICATION,
2016–2019 (USD MILLION) 143
TABLE 143 EXCITATION SYSTEMS MARKET IN AFRICA, BY APPLICATION,
2020–2026 (USD MILLION) 144
10.7.5 BY END USER 144
TABLE 144 EXCITATION SYSTEMS MARKET IN AFRICA, BY END USER,
2019–2026 (USD MILLION) 144
10.7.5.1 By power generation industry 144
TABLE 145 EXCITATION SYSTEMS MARKET IN AFRICA FOR POWER GENERATION INDUSTRY, BY TYPE, 2020–2026 (USD MILLION) 144
10.7.5.2 By heavy industries 145
TABLE 146 EXCITATION SYSTEMS MARKET IN AFRICA FOR HEAVY INDUSTRIES, BY TYPE, 2019–2026 (USD MILLION) 145
10.7.6 BY COUNTRY 145
TABLE 147 EXCITATION SYSTEMS MARKET IN AFRICA, BY COUNTRY,
2016–2019 (USD MILLION) 145
TABLE 148 EXCITATION SYSTEMS MARKET IN AFRICA, BY COUNTRY,
2020–2026 (USD MILLION) 145
10.7.6.1 Egypt 146
10.7.6.1.1 Significant investment in oil & gas and intense need to meet increasing power demand 146
TABLE 149 EXCITATION SYSTEMS MARKET IN EGYPT, BY TYPE,
2016–2019 (USD MILLION) 146
TABLE 150 EXCITATION SYSTEMS MARKET IN EGYPT, BY TYPE,
2020–2026 (USD MILLION) 146
10.7.6.2 South Africa 147
10.7.6.2.1 Urgent need to upgrade power infrastructure to prevent power outages 147
TABLE 151 EXCITATION SYSTEMS MARKET IN SOUTH AFRICA, BY TYPE,
2016–2019 (USD MILLION) 147
TABLE 152 EXCITATION SYSTEMS MARKET IN SOUTH AFRICA, BY TYPE,
2020–2026 (USD MILLION) 147
10.7.6.3 Nigeria 148
10.7.6.3.1 Supportive hydro power policies of government 148
TABLE 153 EXCITATION SYSTEMS MARKET IN NIGERIA, BY TYPE,
2016–2019 (USD MILLION) 148
TABLE 154 EXCITATION SYS