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"excessive competition" is correct and usable in written English.
You can use it to talk about a situation where there are too many people or businesses vying for the same thing. For example: "Excessive competition in the food delivery industry has made it difficult for smaller companies to survive."
Exact(31)
The Democrats resisted anything that smacked of excessive competition.
Capping athletic salaries might stem excessive competition, but that doesn't make it right.
This culture of excessive competition only seems to get worse as students grow older.
As a result, there was excessive competition for limited market share.
Rural areas also lost out in the 1990s because of the gradual dismantling of government-sanctioned price cartels, which had guaranteed jobs by protecting industries from "excessive competition".
Before merger talks broke off, the public consortium proposed that both sides abandon what it called "the current antagonism and excessive competition".
Similar(28)
Excessive internal competition eliminates these advantages.
Founded Beal Aerospace to develop commercial rockets late 1990s; spent $250 million, folded operation citing excessive government competition.
This study proposes an alternative permit allocation method which favors energy efficient aircraft operators and avoids excessive over competition.
With the rapid economic progress across China, employees have been becoming more exposed to stressful situations such as excessive workload, competition, and perceived loneliness[9].
While innovation and customer responsiveness are the intended benefits of MEs, it may also promote excessive internal competition and undermine the cooperation needed for a large organization to perform effectively.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com