The market for Alternator Market is expected to reach US$ XX Mn By 2025.
Alternators are devices that convert any kind of mechanical energy from a prime mover into alternating electric power (AC current) at a specific voltage and frequency. Since their first introduction, alternators have become an essential part of modern power generation systems. The rising demand for power for a variety of applications has resulted in an increase in the penetration of alternators. Applications such as automotive, industrial manufacturing and processing, power plants, and many others make extensive use of alternators in order to fulfill their power requirements. Alternators are used extensively in power generation plants using non-conventional energy sources.
The post-recession revival of the automotive industry is one of the major factors contributing to the rise in demand for alternators. Every modern on-road vehicle is equipped with an alternator in order to provide AC electricity to different modules of the vehicle. With the consistent rise in the automotive industry, the demand for alternators is also expected to demonstrate considerable growth during the forecast period. Similarly, perpetually rising power consumption across applications such as marine, telecommunication towers, commercial, and residential infrastructures is another prominent factor promoting the alternator market. In addition, alternators are used for locomotive traction motors, marine applications, and mining applications. Growing heavy industries and a consistent rise in demand for AC power supplies are expected to continue boosting the overall alternator market in the following years.
The report titled "Alternator Market: Growth, Future Prospects, and Competitive Landscape, 2017–2025" offers strategic insights into the global alternator market, with market size and estimates for the duration of 2015–2025. The research study in question includes an in-depth examination of multiple market segments based on voltage, design, and application and a cross-sectional study across various geographies. The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.
The report also includes competitive profiling of the leading alternator manufacturers, their strategies, market positioning, and key developments to assist strategic decision-makers.Some of the major players profiled in the report include Controlled Power Technologies, Ltd., Valeo Group, Lucas Electrical, Ltd., ASIMCO Technologies, Ltd., Hitachi Automotive Systems, Ltd., Hella KGaA Hueck & Co. (Japan), Mitsubishi Electric Corporation, The Bosch Group, Denso Corporation, Mitsuba Corporation, Cummins, Inc., and Emerson Electric Co., among others.
Overall, the research study provides a holistic view of the global alternator market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.
As of 2016, the low voltage segment (ranging from 0 to 1000 volts) is the largest segment, in terms of revenue, of the overall alternator market worldwide. Low-voltage alternators are extensively used in automobiles and small and medium-capacity standby power equipment. With the consistent rise in automobile consumption around the world, demand for low-voltage alternators is expected to rise at a rapid pace. In addition, increasing power consumption and the growing trend of using standby power equipment such as portable generators are also aiding the low-voltage alternator segment in maintaining its dominance in the overall alternator market.
As of 2016, the high-voltage alternator segment trails the low-voltage alternator segment in terms of revenue. High-voltage alternators ranging from 5000 volts and above are used in a variety of high-voltage applications, such as marine, railway locomotives, high-power generation equipment, and mining. High-voltage alternators are also used in non-conventional energy generation stations, including wind turbines, hydroelectric power plants, and tidal energy power stations. The growing inclination toward non-conventional power sources is generating major demand for high-voltage alternators. Consequently, the high-voltage alternator market is expected to grow at a high rate during the forecast period.
As of 2016, the automotive segment dominated the overall alternator market. Alternators are extensively used in automobiles for power generation so as to run the related electronic modules. They derive power from the engine and generate the energy to charge the battery and supply the electric power necessary for the vehicle's utilities. With the rise in the number of electronic modules in modern-day automobiles, the power requirement of automobiles has also increased significantly. In addition, consistent growth in the automotive sector, especially in the Asia Pacific region, has increased the penetration of automotive alternators. In the following years, the automotive segment is estimated to retain its dominant position in the overall market.
In terms of revenue, the standby power segment trails the automotive application segment. The segment's growth is primarily driven by the increasing installation of standby power equipment and generators across commercial and industrial sectors. Alternators are extensively used in such equipment to convert mechanical motion into AC power. In addition, standby power equipment is used to supply continuous power to telecommunication towers. Due to its expanding application area, the segment would demonstrate promising growth in the following years.
As of 2016, the alternator market is dominated by the Asia Pacific region, which contributes more than 40% of the total market revenue. The market here is primarily driven by countries with high energy consumption, such as Japan, China, India, and South Korea, among others. The energy requirement of these regions is considerably high due to the strong industrial manufacturing and processing sectors here. Furthermore, Asia Pacific's thriving automotive industries are driving up demand for alternators in this region. Consequently, Asia Pacific is expected to continue its dominance throughout the forecast period.
The European alternator market succeeds the Asia Pacific region in terms of revenue. The high preference for non-conventional energy sources has significantly influenced the demand for high-voltage alternators in European countries.
The market for Alternator Market is expected to reach US$ XX Mn By 2025.
The Alternator Market is expected to see significant CAGR growth over the coming years, at 4.9%.
The report is forecasted from 2015-2025.
The base year of this report is 2014.
Controlled Power Technologies, Ltd., Valeo Group, Lucas Electrical, Ltd., ASIMCO Technologies, Ltd., Hitachi Automotive Systems, Ltd., Hella KGaA Hueck & Co. (Japan), Mitsubishi Electric Corporation, are some of the major players in the global market.