According to the latest report by IMARC Group, titled “Alternators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global alternators market reached a volume of nearly 6 Million Units in 2018. Alternators are devices that convert kinetic energy into electrical energy to power ignition coils, engine fans, headlights, and various parts of fuel injection and air conditioning systems. They are manufactured using two components, namely, a rotor that comprises field poles and a stator. They depend on the working principle of Faraday’s law of electromagnetic induction, wherein the current is induced in the conductor surrounded by a magnetic field when there is relative motion.
The competitive landscape of the market has also been examined with some of the key players being VALEO/S ADR OTCMKTS: (VLEEY), DENSO CORP/ADR OTCMKTS: (DNZOY), Stamford (SMFOY), Leroy Somer and Mecc Alte.
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Increasing consumption of alternating current (AC) in the automotive, marine, and oil and gas industries have boosted the overall sales of alternators. These devices form an integral part of the charging system in vehicles and for powering the engine. Apart from this, with the rising environmental concerns, governments of several countries are adopting stringent standards to reduce fuel and power consumption. This has led to an increase in the demand for smart alternators. The growing investment in grid infrastructure and escalating sales of luxury cars are further driving the global alternators market growth. Looking forward, the market volume is projected to reach more than 8 Million Units by 2024, expanding at a CAGR of 3.3% during 2019-2024.
Market Performance by Type:
- Electro-Magnet (Induction)
- Permanent Magnet
Market Performance by Voltage
- More than 440V
- Less than 220V
Market Performance by Rated Power
- 1 kW-5 kW
- 5 kW-50 kW
- <50KW-500 kW
- 500KW-1500 kW
- 1500KW-5000 kW
Market Performance by Fuel Used
- Fossil fuel
Market Performance by Weight
- Low Weight
- Medium Weight
- High Weight
Market Performance by Application:
- Industrial Applications
- Automotive and Transportation
- Power Generation
- Standby Power
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