The automotive alternator is a generator that can generate power for the electrical component of the vehicle. Market Research Future (MRFR) has published a research report about the global automotive alternator market that calculates hike at 5.5% CAGR between 2016 and 2022.
The essential factor driving the global automotive alternator market growth is the increase in the production of vehicles. The second factor escalating market growth is an increase in the adoption of electricity-based vehicles due to various environmental concerns like rising carbon dioxide emissions that cause air pollution. The third factor aiding market growth is an increase in demand for vehicles. Lastly, the advantages automotive alternators offer to different off-roads, and emergency vehicles are also taking the market growth further. High output alternator offers greater advantages over traditional alternators.
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Market Segmentation
The global automotive alternator market segmentation covers type and vehicle type .
By type, this market has been segmented into single phase alternator and three phase alternator. The single-phase alternator, or single-phase generator, is an alternating current electrical generator that can produce a single, continuously alternating voltage. Single-phase alternator can be used for generating power in single-phase electric power systems. The three-phase alternator has three single-phase windings that are spaced in such a way that the voltage induced in any one phase is displaced by 120° from the other two.
By vehicle type, the market is being segmented into the commercial vehicle and passenger vehicle. A driver uses the passenger vehicle for personal use. The commercial vehicle is used for transferring various items from one place to another for business purposes . The passenger vehicle segment is witnessing substantial growth due to the hike in the disposable income.
Regional Segmentation
The regional segmentation of the global automotive alternator market includes the regional markets that are North America, Europe, Asia Pacific, and Rest of the World (RoW). During the forecast period, North America and Europe are expected to lead the global market due to the technological advancements concerning the vehicles alternators, presence of many key market players in both regions, and increasing production of vehicles across these two regions. Other factors contributing to the market growth in these two regions include the increase in demand for alternators in the region, continuous investment in the automotive alternator market, and the rise in production of vehicles. In North America, the maximum revenue comes from USA, Canada, and Mexico. In Europe, the same comes from France, Germany, Spain, and the UK, followed by remaining countries of Europe .
During the forecast period, the Asia Pacific regional market is likely to surge due to the rapidly expanding automobile sector in countries like China and India. Other factors helping the market growth are increasing personal disposable income, hike in the purchasing power, and government initiative in foreign direct investments for international automotive players. Other major country-specific markets in this region are Japan and South Korea, followed by the remaining countries of the Asia Pacific region .
In the RoW segment, key revenue-generating markets are Brazil and Saudi Arabia, followed by the remaining countries of this world.
Key Players
Key players in the global automotive alternator market include Bosch (Germany), Denso (Japan), Hitachi Automotive (Japan), Hella KGaA Hueck & Co. (Germany), Iskra (Slovenia), Lucas Electrical (UK), Mando (South Korea), Magneti Marelli (Italy), Mitsubishi (Japan), Motorcar Parts of America Inc. (USA), Remy International Inc. (USA), and Valeo (France).
Latest Industry News
Denso has developed a high-efficiency diode with the semiconductor supplier Hitachi, calling it the Hitachi Power Semiconductor Device. This diode has been developed for alternators used in diesel engine vehicles and gasoline engine vehicles. This diode reduces the power conversion loss by increasing the efficiency of the function. 24 MAY 2019
SAKOR Technologies Inc., a reputed leader in the area of high-performance dynamometer systems, has designed and released a dynamometer testing system to a major original equipment manufacturer (OEM) to test starter/alternators for hybrid/electric vehicle (H/EV) applications. The dynamometer test system features SAKOR’s DynoLAB test automation controller and consists of a 42 kW AccuDyne AC motoring dynamometer. 14 JAN 2019
Complete Report Details of Automotive Alternator Market at: https://www.marketresearchfuture.com/reports/automotive-alternator-market-1973
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