Global Alternator Market
Report, published by Variant Market Research, forecast that the global market
is expected to reach $29.9 billion by 2024 from $20.1 billion in 2016, growing
at a CAGR of 5% from 2016 to 2024. By geography, RoW and Asia Pacific are
expected to grow at a CAGR of 6.1% and 5.3%, respectively, during the forecast
period.
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The factors boosting the growth
of the global alternator market include, growth in demand for luxury vehicles
owing to the increasing disposable income in emerging markets, augmented demand
for engine and turbines, and rising investments in infrastructure globally. Though,
unpredictability condition of current world economy is likely to pose restrain
for the growth of the market.
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The global alternator market
is categorized on the basis of rotor type, voltage range, end-user, and
geography. The rotor type segment is sub-segmented into smooth cylindrical,
salient pole and others. The voltage is segmented as low voltage (0V-1000V),
medium voltage (1001V-4160V) and high voltage (4161V-15000V). Furthermore,
End-user is categorized as stand-by power, oil & gas, mining, marine and
others. By rotor type segment, smooth cylindrical hold the share of 20.5% in
2016. Furthermore, by end-user, power plant and oil & oil & gas
accounted for 11.03% and 6.50% respectively, in the year 2016.
By geography the market is
segmented into North America, Europe, Asia-Pacific and rest of the world (RoW).
Rest of the World (RoW) is the fastest growing region in the global alternator
market, and is expected to continue this trend, due to rapid growth in
urbanization and increasing oil & gas sector. Asia Pacific accounts the
largest share of the market with 34% followed by Europe with 27%, in the year
2016.
The key market players comprise
of Lucas Electrical, Robert Bosch GmbH, Motor Corporation of America, Hella
KGaA Hueck & Co, Hitachi Automotive, Mitsuba Corporation, Denso
Corporation, Valeo SA, Cummins, Inc., and Mitsubishi Electric Corporation,
among others.
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