Articles
Alternator Market Sales, Size, Share, Growth, Region, Segmentation & Forecast by 2023 | IMARC Group
by Rahul Rastogi Market Research AnalystThe
global alternators market has experienced moderate growth in the past few
years. The factors facilitating the market growth include growing
industrialization, expansion of automobile industries and rising demand for
electricity.
As per the latest report by IMARC Group, titled “Alternators Market: Global Industry
Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”,
the global alternators
market
value reached
of US$ 16 Billion in 2017. An alternator is an electrical machine which works
on the principle of electromagnetic induction. It is made up of two parts,
namely, a rotor that consists of field poles and a stator which includes
armature conductors. Alternators have found applications in several industries
as they can convert mechanical energy or direct current (DC) to alternating
current (AC). They are extensively used for generating electricity in the commercial
and residential sectors and have also become an integral part of the automotive
and mining industries.
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Market Trends:
The continuous use of both the conventional and non-conventional sources
of energy has been fueling the consumption of alternators for electricity
generation across the globe. In addition, rapid industrialization, global
population growth and escalating consumption of electricity are strengthening
the market growth. Moreover, the growing investments in the construction and
telecommunication sectors are providing a boost to the growth of the
alternators market. Further, modern day automobiles are equipped with
alternators in order to charge the battery and power the electrical
system, unlike vintage automobiles which used to employ
DC dynamo generators with commutators. With an increase in the
sales of luxury cars, the alternators market is anticipated to grow at a rapid
pace in the coming years. Owing to these factors, the global alternators market
is projected exceed US$ 21 Billion by 2023, expanding at a CAGR of 4.8% during
2018-2023.
Market Summary:
·
On the basis of types, the market has been divided into permanent magnet
alternators, electro-magnet (induction) alternators and others. Amongst these,
permanent magnet alternators hold the largest share.
·
Based on voltage, 220V-440V alternators account for the majority of the
market share, followed by >440V and <220V alternators.
·
On the basis of rated power, the market has been segregated into
alternators with a power rating of < 1kW, 1kW-5kW, 5kW- 50 kW, <50 kW-500
kW, 500 kW-1500 kW, 1500kW-5000kW and > 5000 kW. Amongst these, alternators
with a power rating of 1500 kW-5000 kW represent the leading segment.
·
The market has been divided on the basis of applications into industrial
applications, automotive and transportation, power generation, standby power,
and others. Currently, industrial applications hold the majority of the market
share.
·
Based on speed, the market has been segmented into low, medium, high and
ultra-high-speed alternators. Amongst these, high speed alternators account for
the majority of the market share.
·
On the basis of weight, low weight alternators dominate the market. The
other segments include medium and high weight alternators.
·
The market has also been divided on the basis of end-use sectors into
the industrial, commercial and residential segments. Presently, the industrial
sector is the biggest end-use sector of alternators, holding the majority of
the total market share.
·
Based on fuel used, fossil fuels, such as diesel, gas, coal, etc.,
represent the largest segment, followed by natural fuels which include wind,
water and solar.
·
On a geographical front, Asia Pacific is the leading alternators market,
accounting for the dominant share. Other regions include Europe, North America,
Middle East and Africa, and Latin America.
·
The competitive landscape of the market has also been examined with some
of the key players being Stamford, Mecc Alte, Leroy Somer, Valeo, and Denso.
Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/alternator-market
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About Rahul Rastogi 
Market Research Analyst
42 connections, 0 recommendations, 213 honor points.Joined APSense since, September 6th, 2018, From New York, United States.
Created on Feb 28th 2019 01:10. Viewed 362 times.
