Alternator Market (By Type: Electro-Magnet (Induction) Alternators, Permanent Magnet Alternators, Synchronous Alternators; By Power Output: <1kW, 1 kW-5 kW, 5 kW-50 kW, 50 kW & Above; By Application: Industrial Applications, Automotive and Transportation, Power Generation, Standby Power, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global alternator market is expected to grow at a CAGR of around 5.3% from 2020 to 2027 and expected to reach the market value of around US$ 33,178.4 Mn by 2027.

An alternator is an electric generator that converts mechanical energy to electrical energy in the form of alternating current (AC). It is used in modern automobiles to power electrical system by charging the battery while the engine is running. The alternator working is influenced by Faraday’s law of electromagnetic induction, where the current is induced in the conductor surrounded by a magnetic field when there is relative motion. 

Market Dynamics               

The increasing consumption of alternating current in various sectors, including automotive, gas, and industrial manufacturing is driving the market value. The increasing electrification of vehicles, as well as increasing vehicle production across the developing and developed economies, is supporting the market growth. The less maintenance required by alternator along with the improved efficiency and constructional features that provide the required output in the small unit is another factor contributing to the market value. Moreover, the development of an integrated starter generator (ISG) and compact clutch integrated pulley for alternators & direct start are expected to create potential opportunities over the estimated period from 2020 to 2027.

On the other hand, the requirement of massive voltage to supply a fixed amount of power that results in the high amount of insulations as well as the use of alternator when it begins to fail can cause many electrical problems in the car and breakdown are the factors expected to hamper the growth.

50 kW & above segment accounted for the major share in terms of value

By power output, 50 kW & above segment is leading the market with a major share in 2019. The electrical and electronics component in-vehicle demands more power is supporting the segmental growth. These are particularly designed to produce a high charging power in a vehicle. These are widely used in motor-sport vehicles also have a usage in off-road automobiles and light trucks. The benefits of installing a high-output alternator include prolonged battery life, quality audio systems, and efficiency are supporting the growth.

The market research study on “Alternator Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Alternator market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Alternator market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Alternator market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The Alternator market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

Asia Pacific accounted for the major share in the global market

The Asia Pacific region is leading the market with major share the region is also projected to maintain its dominance with maximum CAGR (%) during the estimated period from 2020 to 2027. The region is particularly gaining growth on account of its major economies including China and India. The rapid industrialization, rising disposable income, growing automotive market, and ongoing infrastructural development are the factors supporting the regional market value.

The players profiled in the report include Asimco Technologies, Controlled Power Technologies Ltd., Cummins Generator Technologies Ltd. (Stamford-Avk), Denso Corporation, Hella KGAA Hueck & Co., HHI, Hitachi Automotive Systems, Ltd., Leroy Somer Inc., Lucas Electrical, Mecc Alte Alternators Pty. Ltd., Mitsuba Corporation, Mitsubishi Electric Corporation, Motorcar Parts of America, Robert Bosch GmbH, and Valeo SA.

Market Segmentation

Market By Type

Electro-Magnet (Induction) Alternators

Permanent Magnet Alternators

Synchronous Alternators

Market By Power Output

<1kW

1 kW-5 kW

5 kW-50 kW

50 kW & Above

Market By Application

Industrial Applications

Automotive and Transportation

Power Generation

Standby Power

Others

Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa