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The global automotive alternator market size reached US$ 22.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.88 Billion by 2027, exhibiting a growth rate (CAGR) of 6.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Automotive alternators refer to the three-phase generators with a built-in rectifier circuit that is employed in modern automobiles to charge the battery and power electrical systems while their engine is operating. They consist of a rotor, the stator, output diodes, and the diode trio as standard parts. Additionally, automotive alternators include charging systems, batteries, voltage regulators, and alternators as major components. Automotive alternators aid in powering various vehicle electrical machinery, including instrument panels and interior and exterior lights. Along with this, they assist in generating alternating current (AC) power by electromagnetism and converting mechanical into electrical energy. As a result, automotive alternators are widely incorporated into commercial, light, and commercial vehicles. Currently, they are mainly available in salient pole and cylindrical rotor types.
The considerable expansion in the automotive industry and the ongoing production and sales of various hybrid and electric vehicles (HEVs/EVs) are primarily driving the market growth. Automotive alternators are widely incorporated in the electrical systems of such automobiles to activate multiple electronic components of vehicles. Furthermore, the implementation of several green initiatives by governments has prompted manufacturers to use hybrid powertrain systems to mitigate carbon emissions from vehicles, which is supplementing the product demand. Additionally, the extensive utilization of automotive alternators in several off-road and emergency vehicles to carry large amounts of snowplow by producing excessive drag on the electrical systems is impelling the market growth. Moreover, the shifting inclination toward the high output automotive alternators over conventional product variants, owing to long-lasting battery life and better electricity supply, is contributing to the market growth. Other factors, such as inflating consumer disposable incomes, the growing need for lightweight cars, and strategic collaborations amongst original equipment manufacturers (OEMs) to enhance product efficacy, are supporting the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive alternator market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on powertrain type and vehicle type.
Breakup by Powertrain Type:
Breakup by Vehicle Type:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BorgWarner Inc., DENSO Corporation, Hella KGaA Hueck & Co. (Faurecia SE), Hitachi Ltd., Hyundai Mobis (Hyundai Motor Group), Jinzhou Halla Electrical Equipment Co. Ltd, MAHLE GmbH (Mahle Stiftung GmbH), Mecc Alte SpA (Co.mecc.fin.srl), Mitsubishi Electric Corporation, Motorcar Parts of America Inc., Prestolite Electric Incorporated (Prestolite Electric Holding Inc.), Robert Bosch GmbH (Robert Bosch Stiftung GmbH) and Valeo.
|Base Year of the Analysis||2021|
|Segment Coverage||Powertrain Type, Vehicle Type, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||BorgWarner Inc., DENSO Corporation, Hella KGaA Hueck & Co. (Faurecia SE), Hitachi Ltd., Hyundai Mobis (Hyundai Motor Group), Jinzhou Halla Electrical Equipment Co. Ltd, MAHLE GmbH (Mahle Stiftung GmbH), Mecc Alte SpA (Co.mecc.fin.srl), Mitsubishi Electric Corporation, Motorcar Parts of America Inc., Prestolite Electric Incorporated (Prestolite Electric Holding Inc.), Robert Bosch GmbH (Robert Bosch Stiftung GmbH) and Valeo.|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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