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Alternator Market Overview
Alternator Market Size is forecast to reach $25.3 billion by 2030, at a CAGR of 4.8% over the forecast period of 2024-2030. In the power sector and industrial sector, there is a requirement of devices for energy conversion where the alternators come into the picture as it converts mechanical energy into electrical energy. In these sectors there is a huge requirement of steam turbines driven alternators to extract thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft. The demand for alternators has witnessed a positive growth in the market increasing consumption of alternating current in different sectors, such as automotive, gas, industrial manufacturing and others. Growing investment in grid infrastructure in the developing regions has driven the demand for prime movers to provide electricity for the traction motors (AC or DC) used in power generation. In addition, the adoption of offshore wind energy with advance technology has driven the growth of induction generators as it produces a three-phase voltage output. Growing applications of alternators in various industrial verticals such as electric generators, automotive, marine, gas and oil industries, power plants and others has increased the degree of competition in the global alternator market.
This surge is accompanied by a notable trend, the integration of advanced technologies and smart features in alternators. Manufacturers are focusing on innovations such as high-efficiency designs, compact form factors, and enhanced durability to meet the evolving demands of end-users. Additionally, the market is witnessing a shift towards eco-friendly alternator solutions, aligning with the growing emphasis on sustainability in industrial practices. The advent of alternators with improved energy efficiency, reduced carbon footprint, and increased reliability is indicative of this environmentally conscious trend. As industries seek more reliable and energy-efficient power generation solutions, the alternators market is expected to witness sustained growth, driven by technological advancements and a dynamic competitive landscape.
Market Snapshot
Alternator Market Report Coverage
The report: “Alternator Market Industry Outlook– Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Alternator Market
By Type: Permanent Magnet Alternators, Synchronous Alternators, Electro-Magnet Induction Alternators
By Voltage: <220V, 220-440V, >440V
By Rated Power: <1, 1Kw-5Kw, 5Kw-50Kw, 50-500Kw, 500-1500Kw, 1500-5000Kw, >5000Kw
By Speed: Low, Medium, High, Ultra –High
By Fuel Type: Fossil Fuels, Natural Fuels
By Engine Type: Gas Engine, Diesel Engine
By Turbine Type: Gas Turbine, Stem Turbine
By End Users: Oil and Gas, Industrial, Residential and Commercial, Prime Power, Data Centers, Others
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, Australia and Others), and RoW (Middle East and Africa, South America)
Key Takeaways
• Surge in the Industrialization along with the growth of automotive sector owing to the rising disposable income has increased the adoption of alternators as they produce alternating current supply and converts mechanical energy into electrical energy.
• Major fuels used in the global alternator market are fossil fuels and natural among which fossil fuel segment is expected to witness a highest CAGR of 5.01% the forecast period, owing to major use of diesel, gas, coal and others for the propulsion of the alternators.
• APAC is witnessing a major growth in the market owing to the surge in automotive industry and Power sector where the alternators are used to generate the power which are further distributed by the electric power grids.
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Alternator Market Segment Analysis - By Type
The Synchronous alternator segment is growing at a significant market value in 2023 as it is highly used in industrial applications. Generator is to generate commercial frequency current frequently by converting the mechanical energy from the main mover to an AC electrical energy at a specific frequency & voltage. Rapid growth of industrialization has surged the demand for power which is highly augmenting the need for synchronous alternator as it provides power to a grid ranging from 100 kilowatts to several megawatts. The growing energy consumption indicates an increase of industrial growth which in turn has growing need for highly efficient, robust and reliable wind turbines. In addition, the need for synchronous alternators are rising as the extremely harsh environments of the offshore wind farms lead to increased risk of pressure pulsation peaks and vibrations.
Alternator Market Segment Analysis - By End Users
Industrial sector is expected to witness a highest CAGR of 5.11% over the forecast period of 2023, owing to the presence of a vast Energy sector globally where the Oil and Gas is a major alternator used in providing reliable power to critical downhole drilling tools and also used as constant source of power replacing batteries. According to the ITA, the Kuwait Petroleum Corporation (KPC) announced its intention to increase oil production capacity to 4.75 million barrels per day (mmb/d) by 2040. Here the additional production capacity comes from technically challenging sour and heavy fields. Kuwait has accordingly awarded enhanced technical service agreements with international firms for development of heavy oil. This impacted the growth of steam turbines in power production along with induction generators and prime movers. In addition, The Clean Fuels Project (CFP), transformed Kuwait’s two refineries (Mina Abdullah (MAB) and Mina Al-Ahmadi (MAA)) into a single integrated merchant-refining complex. These two Refineries form an Integrated Refining Complex with a total refining capacity of 800,000 bpd of crude oil. This integration provides the Company a high flexibility and quick response to customer requirements and market diversified variables. All these boosted the growth of the Alternator Market.
Alternator Market Segment Analysis - By Geography
Alternator Market in Asia-Pacific region held significant market share in 2023. The growth in APAC is chiefly driven by extensive industrial and urbanization activities in countries such as Japan, India, and China accompanied with the rising disposable incomes and prevalence of a luxurious lifestyle have led to a surge in the sales of vehicles over the years. In addition, rising industrialization along with growth in cogeneration offer new opportunities, thereby creating an attractive market for the alternators. India ranks fourth globally in terms of renewable energy generation. For the next five years, the government has allocated $42 billion for innovation in and scale-up of the energy and utilities sector. The investment will focus on infrastructure and technology upgrades of the ailing utilities to make them more efficient and reduce financial losses. In addition, South Korea based Hyundai Motor Group announced to invest $34.65 billion in mobility technology and strategic investments by 2025. Additionally, it received funds from South Korean government worth 1.7 trillion won to boost autonomous vehicle technology. Investments such as these will open new prospects for alternators in automotive applications.
Alternator Market Drivers
Growth of alternators in Marine applications:
Increasing government support for navy defense, combined with the robust growth of progressive shipping lines, is expected to boost the use of alternator market trends. The United States government is aggressively investing in upgrading its current naval shipyards and fleet repair and maintenance where the alternators are used in different solutions including the diesel electric propulsion, shaft generator, emergency or harbour applications, thus widening the market landscape. In Germany, inland and ocean shipping lanes are vital transport routes for raw materials entering the country as well as commercial goods exported to Europe and elsewhere. About 95 percent of intercontinental and 62 percent of inter-European commercial transport is done by sea, which helps to alleviate traffic congestion on the roads. Commercial shipping and port operations are critical growth industries for the German economy. The German shipbuilding industry ranks first in Europe and third in the world. German shipyards are experts in the construction of high-tech container vessels and passenger ships. Their designs are spreading across the world and influencing market needs on a global scale, as they have done with container vessels. This is expected to boost the market growth for alternators.
Growth of the automotive industry:
Initiatives from the government for self-sufficiency are attracting the automotive industry growth in developing countries such as India, China and others which in turn has spurred the alternator market as it is used to charge the battery and to power the electrical system in automobiles. Automobile industry is the major contributor of India’s manufacturing GDP in which automotive industry is the largest one and according to IBEF, India is the world’s third-largest automobile market, the largest manufacturer of three-wheelers, passenger vehicles, and tractors, and the second-largest manufacturer of two-wheelers in 2023. Italy had witnessed about $1.5 M of vehicle sales and registrations as per OICA during 2022. Moreover, According to OICA statistics, Spain has produced about 2,219,462 total vehicles in 2022.
Alternator Market Challenges:
Slowdown of Alternators challenges:
Alternators are used to power the different electrical systems in the cars and keep the battery charged. Alternators eventually slows down and begins to fail and causes variety of different electrical problems and causes breakdown in the cars. This certain slowdown and breakdown problems in the alternators are analyzed to restrain the growth of the market in the forecast period 2024-2030.
Alternator Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Adhesive Tapes Market. Adhesive Tapes Market top 10 companies are:
- Mecc Alte
- Cummins Generator Technologies
- Nidec
- Bosch Group
- Denso
- Valeo
- Hitachi Automotive Systems
- RFL Alternators
- Mitsubishi Electric
- WEG Electric Corp.
Acquisitions/Product Launches
• In September 2023, SEG Automotive North America expanded its aftermarket business, introducing 180 new SKUs to its line of starters and alternators, bringing the total to 1,300 SKUs. This expansion aimed to strengthen SEG Automotive's presence in the North American market, providing a broader range of products for the aftermarket.
• In August 2022, Prestolite Electric introduced the IdlePro Extreme™ M-Series alternators designed for mining, offering enhanced performance and dust protection. Assembled in the US, these alternators feature advanced sealing for extended service life, various configurations, and incorporate Prestolite Electric’s isolated ground technology for added electrical protection.
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1. Alternator Market- Market Overview
1.1 Definitions and Scope
2. Alternator Market- Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by end user
2.3 Key trends segmented by geography
3. Alternator Market–Market Landscape
3.1 Comparative Analysis
3.1.1 Product Benchmarking
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 10 companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis
4. Alternator Market– Industry Market Entry Scenario Premium Premium
4.1 Regulatory Framework Overview
4.2 New Business and Ease of Doing business index
4.3 Case studies of successful ventures
4.4 Customer Analysis – Top 10 companies
5. Alternator Market – Startup Company Scenario Premium
5.1 Investment Analysis
5.2 Venture Capital Funding Scenario
6. Alternator Market- Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Alternator Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle
7.4 Suppliers and Distributors
8. Alternator Market- By Type (Market Size -$Million/Billion)
8.1 Permanent Magnet Alternators
8.2 Synchronous Alternators
8.3 Electromagnet Induction Alternators
9. Alternator Market- By Voltage (Market Size -$Million/Billion)
9.1 <220 V
9.2 220-440 V
9.3 >440 V
10. Alternator Market- By Rated Power (Market Size -$Million/Billion)
10.1 <1 Kw
10.2 1-5 Kw
10.3 5-50 Kw
10.4 50-500 Kw
10.5 500-1500 Kw
10.6 1500-5000 Kw
10.7 >5000 Kw
10.8 Others
11. Alternator Market- By Speed (Market Size -$Million/Billion)
11.1 Low
11.2 Medium
11.3 High
11.4 Ultra High
12. Alternator Market- Fuel Type (Market Size -$Million/Billion)
12.1 Fossil Fuels
12.2 Natural Fuels
13. Alternator Market- By Engine Type (Market Size -$Million/Billion)
13.1 Gas Engine
13.2 Diesel Engine
14. Alternator Market – Turbine Type (Market Size -$Million/Billion)
14.1 Gas Turbine
14.2 Steam Turbine
15. Alternator Market- By End Use (Market Size -$Million/Billion)
15.1 Oil & Gas
15.2 Industrial
15.3 Residential & Commercial
15.4 Prime Power
15.5 Data Centers
15.6 Others
16. Alternator Market - By Geography (Market Size -$Million/Billion)
16.1 North America
16.1.1 U.S
16.1.2 Canada
16.1.3 Mexico
16.2 South America
16.2.1 Brazil
16.2.2 Argentina
16.2.3 Others
16.3 Europe
16.3.1 U.K
16.3.2 Germany
16.3.3 Italy
16.3.4 France
16.3.5 Spain
16.3.6 Netherlands
16.3.7 Others
16.4 APAC
16.4.1 China
16.4.2 Japan
16.4.3 South Korea
16.4.4 India
16.4.5 Australia & New Zealand
16.4.6 Others
16.5 RoW
16.5.1 Middle East
16.5.2 Africa
17. Alternator Market- Entropy
18. Alternator Market- Industry Competition Landscape Premium
18.1 Global Market Share
18.2 Market Share by Region
18.3 Market Share by Application
18.4 Market Share by Device Type
18.5 Market Share by End User
19. Alternator Market- Key Company List by Country Premium Premium
20. Alternator Market Company Analysis
20.1 Mecc Alte
20.2 Cummins Generator Technologies
20.3 Nidec
20.4 Bosch Group
20.5 Denso
20.6 Valeo
20.7 Hitachi Automotive Systems
20.8 RFL Alternators
20.9 Mitsubishi Electric
20.10 WEG Electric Corp.
"*Financials would be provided on a best-efforts basis for private companies"
LIST OF TABLES
1.Global MARKET SEGMENTATION Market 2019-2024 ($M)1.1 By Type Market 2019-2024 ($M) - Global Industry Research
1.1.1 Gas Engine Market 2019-2024 ($M)
1.1.2 Diesel Engine Market 2019-2024 ($M)
1.1.3 Gas Turbine Market 2019-2024 ($M)
1.1.4 Steam Turbine Market 2019-2024 ($M)
1.2 By Power Range Market 2019-2024 ($M) - Global Industry Research
1.2.1 1 MW5 MW Market 2019-2024 ($M)
1.2.2 5 MW20 MW Market 2019-2024 ($M)
1.2.3 20 MW40 MW Market 2019-2024 ($M)
1.2.4 300kW1 MW Market 2019-2024 ($M)
1.2.5 60kW300kW Market 2019-2024 ($M)
1.2.6 1kW60kW Market 2019-2024 ($M)
1.3 By Application Market 2019-2024 ($M) - Global Industry Research
1.3.1 Oil Gas Market 2019-2024 ($M)
1.3.2 Prime Power Market 2019-2024 ($M)
1.3.3 Data Centres Market 2019-2024 ($M)
1.3.4 Residential Market 2019-2024 ($M)
1.3.5 Industrial and Commercial Market 2019-2024 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
3.Global MARKET SEGMENTATION Market 2019-2024 (Volume/Units)
3.1 By Type Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 Gas Engine Market 2019-2024 (Volume/Units)
3.1.2 Diesel Engine Market 2019-2024 (Volume/Units)
3.1.3 Gas Turbine Market 2019-2024 (Volume/Units)
3.1.4 Steam Turbine Market 2019-2024 (Volume/Units)
3.2 By Power Range Market 2019-2024 (Volume/Units) - Global Industry Research
3.2.1 1 MW5 MW Market 2019-2024 (Volume/Units)
3.2.2 5 MW20 MW Market 2019-2024 (Volume/Units)
3.2.3 20 MW40 MW Market 2019-2024 (Volume/Units)
3.2.4 300kW1 MW Market 2019-2024 (Volume/Units)
3.2.5 60kW300kW Market 2019-2024 (Volume/Units)
3.2.6 1kW60kW Market 2019-2024 (Volume/Units)
3.3 By Application Market 2019-2024 (Volume/Units) - Global Industry Research
3.3.1 Oil Gas Market 2019-2024 (Volume/Units)
3.3.2 Prime Power Market 2019-2024 (Volume/Units)
3.3.3 Data Centres Market 2019-2024 (Volume/Units)
3.3.4 Residential Market 2019-2024 (Volume/Units)
3.3.5 Industrial and Commercial Market 2019-2024 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2019-2024 (Volume/Units)
5.North America MARKET SEGMENTATION Market 2019-2024 ($M)
5.1 By Type Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Gas Engine Market 2019-2024 ($M)
5.1.2 Diesel Engine Market 2019-2024 ($M)
5.1.3 Gas Turbine Market 2019-2024 ($M)
5.1.4 Steam Turbine Market 2019-2024 ($M)
5.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
5.2.1 1 MW5 MW Market 2019-2024 ($M)
5.2.2 5 MW20 MW Market 2019-2024 ($M)
5.2.3 20 MW40 MW Market 2019-2024 ($M)
5.2.4 300kW1 MW Market 2019-2024 ($M)
5.2.5 60kW300kW Market 2019-2024 ($M)
5.2.6 1kW60kW Market 2019-2024 ($M)
5.3 By Application Market 2019-2024 ($M) - Regional Industry Research
5.3.1 Oil Gas Market 2019-2024 ($M)
5.3.2 Prime Power Market 2019-2024 ($M)
5.3.3 Data Centres Market 2019-2024 ($M)
5.3.4 Residential Market 2019-2024 ($M)
5.3.5 Industrial and Commercial Market 2019-2024 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
7.South America MARKET SEGMENTATION Market 2019-2024 ($M)
7.1 By Type Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Gas Engine Market 2019-2024 ($M)
7.1.2 Diesel Engine Market 2019-2024 ($M)
7.1.3 Gas Turbine Market 2019-2024 ($M)
7.1.4 Steam Turbine Market 2019-2024 ($M)
7.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
7.2.1 1 MW5 MW Market 2019-2024 ($M)
7.2.2 5 MW20 MW Market 2019-2024 ($M)
7.2.3 20 MW40 MW Market 2019-2024 ($M)
7.2.4 300kW1 MW Market 2019-2024 ($M)
7.2.5 60kW300kW Market 2019-2024 ($M)
7.2.6 1kW60kW Market 2019-2024 ($M)
7.3 By Application Market 2019-2024 ($M) - Regional Industry Research
7.3.1 Oil Gas Market 2019-2024 ($M)
7.3.2 Prime Power Market 2019-2024 ($M)
7.3.3 Data Centres Market 2019-2024 ($M)
7.3.4 Residential Market 2019-2024 ($M)
7.3.5 Industrial and Commercial Market 2019-2024 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
9.Europe MARKET SEGMENTATION Market 2019-2024 ($M)
9.1 By Type Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Gas Engine Market 2019-2024 ($M)
9.1.2 Diesel Engine Market 2019-2024 ($M)
9.1.3 Gas Turbine Market 2019-2024 ($M)
9.1.4 Steam Turbine Market 2019-2024 ($M)
9.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
9.2.1 1 MW5 MW Market 2019-2024 ($M)
9.2.2 5 MW20 MW Market 2019-2024 ($M)
9.2.3 20 MW40 MW Market 2019-2024 ($M)
9.2.4 300kW1 MW Market 2019-2024 ($M)
9.2.5 60kW300kW Market 2019-2024 ($M)
9.2.6 1kW60kW Market 2019-2024 ($M)
9.3 By Application Market 2019-2024 ($M) - Regional Industry Research
9.3.1 Oil Gas Market 2019-2024 ($M)
9.3.2 Prime Power Market 2019-2024 ($M)
9.3.3 Data Centres Market 2019-2024 ($M)
9.3.4 Residential Market 2019-2024 ($M)
9.3.5 Industrial and Commercial Market 2019-2024 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
11.APAC MARKET SEGMENTATION Market 2019-2024 ($M)
11.1 By Type Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Gas Engine Market 2019-2024 ($M)
11.1.2 Diesel Engine Market 2019-2024 ($M)
11.1.3 Gas Turbine Market 2019-2024 ($M)
11.1.4 Steam Turbine Market 2019-2024 ($M)
11.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
11.2.1 1 MW5 MW Market 2019-2024 ($M)
11.2.2 5 MW20 MW Market 2019-2024 ($M)
11.2.3 20 MW40 MW Market 2019-2024 ($M)
11.2.4 300kW1 MW Market 2019-2024 ($M)
11.2.5 60kW300kW Market 2019-2024 ($M)
11.2.6 1kW60kW Market 2019-2024 ($M)
11.3 By Application Market 2019-2024 ($M) - Regional Industry Research
11.3.1 Oil Gas Market 2019-2024 ($M)
11.3.2 Prime Power Market 2019-2024 ($M)
11.3.3 Data Centres Market 2019-2024 ($M)
11.3.4 Residential Market 2019-2024 ($M)
11.3.5 Industrial and Commercial Market 2019-2024 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
13.MENA MARKET SEGMENTATION Market 2019-2024 ($M)
13.1 By Type Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Gas Engine Market 2019-2024 ($M)
13.1.2 Diesel Engine Market 2019-2024 ($M)
13.1.3 Gas Turbine Market 2019-2024 ($M)
13.1.4 Steam Turbine Market 2019-2024 ($M)
13.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
13.2.1 1 MW5 MW Market 2019-2024 ($M)
13.2.2 5 MW20 MW Market 2019-2024 ($M)
13.2.3 20 MW40 MW Market 2019-2024 ($M)
13.2.4 300kW1 MW Market 2019-2024 ($M)
13.2.5 60kW300kW Market 2019-2024 ($M)
13.2.6 1kW60kW Market 2019-2024 ($M)
13.3 By Application Market 2019-2024 ($M) - Regional Industry Research
13.3.1 Oil Gas Market 2019-2024 ($M)
13.3.2 Prime Power Market 2019-2024 ($M)
13.3.3 Data Centres Market 2019-2024 ($M)
13.3.4 Residential Market 2019-2024 ($M)
13.3.5 Industrial and Commercial Market 2019-2024 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
LIST OF FIGURES
1.US Alternator Market Revenue, 2019-2024 ($M)2.Canada Alternator Market Revenue, 2019-2024 ($M)
3.Mexico Alternator Market Revenue, 2019-2024 ($M)
4.Brazil Alternator Market Revenue, 2019-2024 ($M)
5.Argentina Alternator Market Revenue, 2019-2024 ($M)
6.Peru Alternator Market Revenue, 2019-2024 ($M)
7.Colombia Alternator Market Revenue, 2019-2024 ($M)
8.Chile Alternator Market Revenue, 2019-2024 ($M)
9.Rest of South America Alternator Market Revenue, 2019-2024 ($M)
10.UK Alternator Market Revenue, 2019-2024 ($M)
11.Germany Alternator Market Revenue, 2019-2024 ($M)
12.France Alternator Market Revenue, 2019-2024 ($M)
13.Italy Alternator Market Revenue, 2019-2024 ($M)
14.Spain Alternator Market Revenue, 2019-2024 ($M)
15.Rest of Europe Alternator Market Revenue, 2019-2024 ($M)
16.China Alternator Market Revenue, 2019-2024 ($M)
17.India Alternator Market Revenue, 2019-2024 ($M)
18.Japan Alternator Market Revenue, 2019-2024 ($M)
19.South Korea Alternator Market Revenue, 2019-2024 ($M)
20.South Africa Alternator Market Revenue, 2019-2024 ($M)
21.North America Alternator By Application
22.South America Alternator By Application
23.Europe Alternator By Application
24.APAC Alternator By Application
25.MENA Alternator By Application