Automotive Alternator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Alternator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global automotive alternator market size reached US$ 24.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.96% during 2023-2028.

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.

Automotive Alternator Market Trends:
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.

Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on powertrain type and vehicle type.

Breakup by Powertrain Type:

IC Engine Vehicles
Hybrid and Electric Vehicles

Breakup by Vehicle Type:

Passenger Cars
Commercial Vehicles

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
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.

Key Questions Answered in This Report

1. What was the size of the global automotive alternator market in 2022?
2. What is the expected growth rate of the global automotive alternator market during 2023-2028?
3. What are the key factors driving the global automotive alternator market?
4. What has been the impact of COVID-19 on the global automotive alternator market?
5. What is the breakup of the global automotive alternator market based on the powertrain type?
6. What is the breakup of the global automotive alternator market based on the vehicle type?
7. What are the key regions in the global automotive alternator market?
8. Who are the key players/companies in the global automotive alternator market?