According to a new market research report published by Credence Research “Alternator Market (by Voltage Range (Low voltage 0-1000V, Medium Voltage 1000-5000V, High Voltage 5000 V and above), by Design (Salient Pole Type, Smooth Cylindrical Type), by Application (Automotive, Industrial, Marine, Power Plant, Standby Power, Others)- Growth, Future Prospects, and Competitive Landscape, 2017-2025”, the alternator market is estimated to grow at a CAGR of 4.9 % from 2017 to 2025.
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Alternating current has become an integral part of modern day life. Apart from domestic and household applications, AC energy plays an important role in a variety of applications. The device used to convert mechanical energy into alternating current is known as alternators. Consistent growth in the demand for AC energy across residential, commercial and industrial applications has boosted the demand for alternators, over the period of time. Alternators have found wide application in sectors such as automotive, industrial manufacturing and processing, marine and many others.
Standby power is one of the major applications for alternators. Alternators are extensively used for portable power generators and standby power equipment used for commercial and residential buildings, telecommunications and other industries. Further, alternators are also used in the automobiles sector extensively. The modern day on-road vehicles are equipped with the alternator which is driven by the engine to provide AC current for nearly all of the automobile utilities. Apart from the aforementioned applications, alternators are also used in applications such as railways, mining, and oil & gas.
Alternator market is segmented according to voltage range, design and by the application. According to the voltage range, the alternators are classified into low voltage, medium voltage, and high voltage. Further, the alternator market is segmented, on the basis of design, into salient pole type and smooth cylindrical type. According to the applications, alternator market is segmented into the automotive application, industrial application, standby power application, marine, power plant and others.
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Alternator market is a highly fragmented market with a number of regional as well as international players facing a cut throat competition to maintain their position in the market. Companies are adopting strategies such as strategies alliances, mergers, and acquisition to expand their sales and distribution network. Major alternator manufacturers include Controlled Power Technologies, Ltd., Valeo Group, Lucas Electrical, Ltd., Controlled Power Technologies, 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.
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