Global Alternator Market is projected to be valued $29.9 Billion by 2024; with a CAGR of 5% from 2017 to 2025. An alternator is one of the most significant device of an automotive charging system that powers the engine.It is capable of converting mechanical energy into electrical energy in the form of alternating energy which is used in almost every power generation industries. Itis now replacing the DC generator due to its enhanced efficiency.The alternator works with the battery to generate energy for the electrical parts of anautomobile, such as the instrument panel and the exterior & interior lights. The generated electricity is then transmitted into the battery, which provides voltage to run the various electrical systems of the vehicle.
Increasing use of electronics and increased disposable income which has led to demand of luxury cars in emerging economies is fuelling the growth of the market. Moreover, rising demand for engine and turbines and growing investment in construction industry are also expected to drive the growth of the market. However, economic instability could hinder the growth of the market. Untapped markets in growing economies and penetration of alternators in various sectors could provide opportunities in the upcoming years.
The market is segmented based on the voltage range, rotor type, end-user and geography. By voltage range is further segmented into low voltage (0V-1000V), medium voltage (1001V-4160V) and high voltage (4161V-15000V). By rotor type segment, it can be segmented into salient pole, smooth cylindrical and others. Furthermore, end-user is segmented into oil & gas, marine, power plant, stand-by power, mining and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers U.K, Germany, Russia and others. Asia-Pacific covers China, India, Australia and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include Mitsubishi Electric Corporation, Valeo SA, HellaKGaAHueck& Co, Cummins, Inc., Mitsuba Corporation, Motor Corporation of America, Hitachi Automotive, Denso Corporation, Lucas Electrical, and Robert Bosch GmbH among others.
The key takeaways from the report
Scope of Alternator Market
Voltage Range Segments
Rotor Type Segments