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Global Alternator Market is Estimated to Reach $29.9 Billion by 2024

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Global Alternator Market report published by Accurize Market Research forecast that the global market is expected to reach $29.9 billion by 2024; growing at a CAGR of 5% from 2017 to 2024. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Wide usage of electronics to drive the global alternator market

High usage of electronics and augmented disposable income has led to increased demand for luxury cars in emerging economies. Such factors are fuelling the growth of the market. Additionally, rising demand for engines and turbines and growing investment in the construction industry are also expected to drive the growth of the market.

Market Segmentation
The global alternator market is split into four segments namely, voltage range, rotor type, end-user, and geography. The voltage range is segmented into low voltage (0V-1000V), medium voltage (1001V-4160V) and high voltage (4161V-15000V). The rotor type segment is bifurcated into the salient pole, smooth cylindrical and others. The end-user segment is divided into oil & gas, marine, power plant, stand-by power, mining, and others.

By geography, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the world (RoW). The U.S., Mexico, and Canada are countries under North America wherein Europe covers U.K, Germany, Russia, and others. Asia-Pacific covers China, India, Australia, and others. Rest of the World (RoW) covers South America, the Middle East, and Africa.

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“Smooth cylindrical accounted for the largest market share in the rotor type segment”, says Accurize

Smooth cylindrical holds a share of 20.5% in 2017. Furthermore, by end-user, power plant and oil & oil & gas accounted for 11.03% and 6.50% respectively, in the year 2017.

“Asia-Pacific dominated the global market with the highest market share over the forecast period”, says Accurize

The Asia Pacific accounts for the largest share of the market with 34% followed by Europe with 27%, in the year 2017.

Top players in the market

Major companies operating in the market include Robert Bosch GmbH, Mitsuba Corporation, Motor Corporation of America, Hitachi Automotive, Denso Corporation, Lucas Electrical, Valeo SA, HellaKGaAHueck& Co, Cummins, Inc., and Mitsubishi Electric Corporation among others.

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