Global Alternator Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

The global alternator market size was valued at USD 8871.5 billion in 2020 and it expected to reach 14450.7 USD billion by 2030, register the CAGR of 5% during the forecast period.An alternator is defined as an electrical machine that converts mechanical energy into electrical energy which is in the form of alternating current. Mostly alternators use rotating magnetic field with a stationary armature. Alternators have become an integral part of several industries due to their ability to convert mechanical energy to alternating current (AC). They consist of multiple poles and come with varying rotation speeds, both of which determine its output frequency. The energy is produced by the principle of electromagnetic induction. They are driven by crankshaft in the engine which converts the piston movement into circulator movement. Alternators are widely used in various industrial verticals, such as automotive, power generation, and mining, besides having commercial and residential applications.
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Market Dynamics and Factors:
The growing consumption of alternating current in several industries, such as automotive, gas, and industrial manufacturing has augmented the demand for alternators globally. Another key driving factor includes the growing investment in grid infrastructure in the developing regions. Apart from this, modern day locomotives are equipped with an alternator which is driven by the engine to produce alternating current for illumination and other purposes. Rising disposable incomes and prevalence of a luxurious lifestyle have led to a rise in the demand of alternators for residential and commercial usage over the years. Moreover, rapid industrialization accompanied by growth in cogeneration offers new opportunities, thereby creating an attractive market for the alternators. However, developing an efficient alternator with minimum losses acts as a restraining factor for the market. High maintenance cost and fluctuating cost of raw materials may also act as a restraint alternator market growth. The rise of the automotive sector in the emerging economies is also a driver for the alternators market growth. The market is also expected to benefit from the increasing demand for power in recent years. Rising investments in the construction industry, especially in the upcoming economies, has generated lucrative opportunities for alternators.
Market Segmentation:
Global Alternator Market – By Voltage Range
Low Voltage
Medium Voltage
High Voltage
Global Alternator Market – By Rotor Type
Salient Pole
Smooth Cylindrical
Global Alternator Market – By Application
Power Plant
Stand By Power
Oil & Gas
Marine
Mining
Others
Global Alternator Market – By Power Output
1.0 - 3kw
3.0 - 5kw
>5kw
Global Alternator Market – By Fuel
Renewable Source
Water
Wind
Solar
Non-Renewable Source
Coal
Diesel
Gas
Global Alternator Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Asia Pacific is expected to dominate the global alternator market during the forecast period. The shift in regional dominance is due to the remarkable growth of the automotive industry in countries such as South Korea, Japan, India and others emerging economies of the region. Power demand-supply gap, growing industrialisation in the emerging markets of Asia-Pacific, and investments in distributed energy will drive market for alternators both in volume as well as revenue. North America will be the second most dominating market. Presence of key manufacturers in the region and growing R&D are majorly driving the market in North America. For instance, in January 2019, Denso Corporation at Heavy Duty Aftermarket Week launched their PowerEdge brand of starters, alternators, DPF/DOC for Class 8 trucks. Their main aim was to provide the heavy duty market the best technology at the best price.
Competitive Scenario:
The key players operating in this industry are –
Hitachi Automotive Systems, Mitsubishi Electric Corporation, Robert Bosch GmbH, Denso Corporation, Lucas Electrical, Motor Corporation of America, Control Power Technology, Valeo Group, Hyundai Mobis, Cummins Inc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Alternator industry, although key threats, opportunities and disruptive technologies that could shape the Global Alternator Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Alternator Market most.
The data analysis present in the Global Alternator Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Alternator Market business.
The 2021 Annual Global Alternator Market offers:
100+ charts exploring and analysing the Global Alternator Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Alternator Market type
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