Global Alternator Market is estimated to reach $29.9 billion by 2024; growing at a CAGR of 5% from 2016 to 2024. Alternator is the workhorse of the power generation industry. They are also known as synchronous generators. They have the ability to convert mechanical energy into electric energy in the form of alternate energy. Electromagnetic induction produces electricity in alternators. DC generators are now being replaced by alternators due to its improved efficiency. Alternators are placed near the anterior part of the engine, which are driven by crankshaft and converts the piston’s movement into circular motion.
Increasing demand for mid-sized and luxury cars and high penetration of electronics are the factors propelling the growth of the global alternator market. Increasing investments in construction industry and high adoption of engines and turbines also boosts the growth of the market. Moreover, adoption of alternators among various industries and market expansion would provide growth opportunities. Though, economic instabilities would hamper the adoption is forecast period.
Rotor type voltage range, end-user and geography are the key segments of the global alternator market. Rotor type is segmented into salient pole, smooth cylindrical and others. By voltage range is further segmented into low voltage (0V-1000V), medium voltage (1001V-4160V) and high voltage (4161V-15000V). Furthermore, end-user is segmented into marine, oil & gas, power plant, mining, stand-by power, 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 Lucas Electrical, Robert Bosch GmbH, Motor Corporation of America, Cummins, Inc. Hitachi Automotive, Mitsuba Corporation Denso Corporation, Valeo SA, Hella KGaA Hueck & Co, and Mitsubishi Electric Corporation among others.
The key takeaways from the report
- The report will provide detailed analysis of Alternator Market with respect to major segments such as rotor type, voltage range, and end-user of the market.
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024.
- Comprehensive analysis of market dynamics including factors and opportunities.
- An exhaustive regional analysis of Alternator market.
- Profile of key players of the Alternator market, which include key financials, product & services and new developments.
Scope of Alternator Market
Rotor type Segments
- Salient Pole
- Smooth Cylindrical
Voltage Range Segments
- Low Voltage (0V-1000V)
- Medium Voltage (1001V-4160V)
- High Voltage (4161V-15000V)
- Oil & Gas
- Power Plant
- Stand-By Power
- North America
- ·United Kingdom
- ·South Korea
- ·South America
- ·Middle East