Press Release / Business / Global Alternator Market is Estimated to Reach $29.9 Billion by 2024

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

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, 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 which have led to increased demand of luxury cars in emerging economies. Such factors are fuelling the growth of the market. Additionally, rising demand for engine and turbines and growing investment in 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. 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 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 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, 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 hold the 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

Asia Pacific accounts 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.