Alternators Market Report 2021-26 | Industry Trends, Market Share, Size, Growth and Opportunities

As per the latest report by IMARC Group, titled “Alternators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global alternators market size reached US$ 17.2 Billion in 2020. Looking forward, the market expects to grow at a CAGR of 4.1% during 2021-2026.

An alternator is a piece of machinery that works on the principle of electromagnetic induction. It works together with a battery and utilizes mechanical energy to produce electricity. It is made up of two parts, namely, a rotor that consists of field poles and a stator, which includes armature conductors.

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Alternators have found applications across several industries as they are employed for generating electricity in the commercial and residential sectors. They also form an integral part of the automotive industry as they are utilized in the charging system of vehicles and for powering the engine.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Global Alternators Market Trends:

Rapid industrialization, global population growth and the escalating consumption of electricity are the key factors boosting the sales of alternators. Furthermore, modern-day automobiles are equipped with alternators to charge the battery and power the electrical system, unlike vintage automobiles, which employed DC dynamo generators with commutators. With an increase in the sales of luxury cars, the alternators market is anticipated to grow at a rapid pace in the coming years. Also, technological advancements in the market are providing an impetus to the market growth.

For instance, the utilization of alternator regenerative control technology in the automotive industry improves engine fuel consumption. This is achieved by regenerating power when the vehicle is decelerating and lowering consumption at other times. Moreover, growing investments in the construction and telecommunication sectors, especially in the grid infrastructure, are also contributing to the growth of the market.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has also been examined in the report. Some of the key players operating in the market include Cummins Inc. (Stamford-Avk), Mecc Alte SpA, Leroy-Somer, Inc., Valeo Service SAS, DENSO Europe BV and Hyundai Electric & Energy Systems Co., Ltd. (previously Hyundai Heavy Industries HHI).

Market Breakup by Type:

Permanent magnet alternators
Synchronous alternators
Electro-magnet induction based alternators

Based on type, the market has been segmented as permanent magnet alternators, synchronous alternators and electro-magnet induction based alternators. Currently, synchronous alternators dominate the market, holding the largest share.

Market Breakup by Rated Power:

< 1
1kW-5kW
5kW- 50 kW
5000 kW

The market has also been segregated on the basis of rated power into < 1, 1kW-5kW, 5kW- 50 kW, 5000 kW. Amongst these, the 1500 kW-5000 kW segment accounts for the majority of the market share, representing the leading segment.

Market Breakup by Application:

Power generation
Standby power
marine
oil and gas

Based on application, industrial applications hold the majority of the market share. They are followed by power generation, standby power, and marine, oil and gas.

Market Breakup by Speed:

Low
Medium
High
Ultra high speed alternators

On the basis of speed, the market has been divided into low, medium, high and ultra high speed alternators. Currently, high speed alternators exhibit a clear dominance in the market.

Market Breakup by Weight:

Low
Medium
High weight alternators

Based on weight, the market has been categorized into low, medium and high weight alternators, wherein low-weight alternators dominate the market.

Market Breakup by end-use segments:

commercial
industrial
residential sectors

On the basis of end-use segments, the market has been bifurcated into commercial, industrial and residential sectors. Among these, the industrial sector accounts for the majority of the global market.

Market Breakup by Fuel:

Diesel
Gas
Coal

On the basis of fuel, the report finds that non-renewable fuels such as fossil fuels, such as diesel, gas, coal, etc., represent the biggest segment. They are followed by natural fuels which includes wind, water, solar, etc.

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other

Note- We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:

1. Market Performance
2. Market Outlook
3. Porter’s Five Forces Analysis
4. Market Drivers and Success Factors
5. SWOT Analysis
6. Value Chain
7. Competitive Structure
8. Profiles of Key Players

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