Global Alternators Market Size, Share & Trends Analysis Report By Voltage (Medium and High), By Phase, By End-Use Industry, By Type (Brushed Alternators, Brushless Alternators, and Permanent Magnet Alternators). By Regional Outlook and Forecast, 2024 - 20

Global Alternators Market Size, Share & Trends Analysis Report By Voltage (Medium and High), By Phase, By End-Use Industry, By Type (Brushed Alternators, Brushless Alternators, and Permanent Magnet Alternators). By Regional Outlook and Forecast, 2024 - 2031


The Global Alternators Market size is expected to reach $31.7 billion by 2031, rising at a market growth of 5.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 23,846.4 thousand units, experiencing a growth of 17.4% (2020-2023).

The construction segment procured a promising growth rate in the market in 2023. Construction machinery and equipment, such as excavators, bulldozers, cranes, and loaders, rely on alternators to supply electrical power for onboard systems, including engines, hydraulics, lights, and control panels. Consequently, the construction segment by end-use industry would generate 19.2% revenue share of the market by 2031. Also, Russia would utilize 1100.7 thousand units of medium voltage alternators by 2031. Alternators are integral to these machines, ensuring reliable operation and performance on construction sites.

EVs and hybrid vehicles are equipped with sophisticated onboard electronics, including infotainment systems, navigation systems, advanced driver assistance systems (ADAS), and climate control systems. These electronics require a stable and reliable electrical power source, which alternators provide by converting mechanical energy from the engine into electrical energy. Thus, because of the rise of EVs and hybrid vehicles, the market is anticipated to increase significantly.

Additionally, alternators play a critical role in transforming wind energy from kinetic to electrical energy, and wind turbines are an essential component of wind energy systems. The growing deployment of wind turbines onshore and offshore to harness wind power for electricity generation drives the demand for alternators. Hydroelectric power plants harness the potential energy of water to generate electricity. Therefore, the market is expanding significantly due to the rapid shift towards renewable energy sources.

However, cost pressures may lead to compromises in product quality as manufacturers seek to reduce production costs. Lower-quality components or materials may be used to cut costs, potentially resulting in inferior products prone to failures or malfunctions. This can damage the reputation of manufacturers and erode customer trust in the reliability of alternators. Thus, intense competition and cost pressures can slow down the growth of the market.

By Voltage Analysis

Based on voltage, the market is bifurcated into high and medium. The high segment garnered a significant 33.39% share in the market in 2023. The utilization of high voltage direct current (HVDC) transmission systems for long-distance electricity is on the rise due to their superior efficiency and reduced losses compared to traditional alternating current (AC) transmission systems. High voltage alternators are utilized in HVDC converter stations to convert AC power to DC power and vice versa, enabling the efficient transfer of electricity over long distances.

By Phase Analysis

On the basis of phase, the market is segmented into three phase alternator, two phase alternators, and single-phase alternator. In 2023, the three-phase alternator segment held 50.93% revenue share in the market. Three-phase alternators are extensively used in industrial machinery and equipment to provide electrical power for manufacturing processes, conveyor systems, pumps, compressors, motors, and other industrial applications. They are preferred for their ability to deliver balanced power across three phases, ensuring smooth and efficient operation of industrial equipment in manufacturing plants, factories, refineries, and processing facilities.

By End-Use Industry Analysis

By end-use industry, the market is categorized into automotive, power generation, construction, oil & gas, and others. The power generation segment recorded a 26.97% revenue share in the market in 2023. The oil & gas segment registered 2,680.3 thousand units in terms of volume in 2023. Alternators are fundamental components of conventional power plants, including coal-fired, natural gas-fired, and nuclear power plants. These alternators convert mechanical energy from turbines into electrical energy, which is then transmitted through power grids for distribution to homes, businesses, and industries.

By Type Analysis

By type, the market is bifurcated into brushed alternators, brushless alternators, and permanent magnet alternators. In 2023, the brushed alternators segment witnessed 41% revenue share in the market. Brushed alternators are easier to maintain and repair than brushless alternators. The brushes and commutators in brushed alternators can be readily accessed and replaced when worn out, extending the operational lifespan of the alternator. This ease of maintenance makes brushed alternators suitable for applications where regular servicing and repairs are required, such as in industrial machinery and equipment.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region acquired a 31.2% revenue share in the market. North America is witnessing significant infrastructure development, including constructing roads, bridges, airports, railways, and commercial buildings. The construction industry in North America is experiencing growth due to urbanization, population growth, and economic development. North America is witnessing significant expansion in renewable energy installations, including wind farms, solar parks, and hydroelectric projects.

Recent Strategies Deployed in the Market
  • Nov-2023: Robert Bosch GmbH expanded its suite of starters and alternators for workshops, including products for passenger cars and commercial vehicles of many European and Asian brands. As part of its expansion, the company will increase its coverage for vehicles from various manufacturers. Additionally, starters and alternators are subjected to strict and consistent quality management all over the world to offer high quality and reliability.
  • Apr-2023: Cummins, Inc. inked a definitive agreement with Tata Motors Limited (TML), a vehicle manufacturing company in India. Under this agreement, the companies will design and develop a range of low- to zero-emission technology products in India for commercial vehicles.
  • Nov-2022: Cummins, Inc. came into partnership with Exergy Energy, LLC, an energy management service company. Under this partnership, Exergy will oversee the implementation of Cummins power system solutions, including generator sets, energy storage systems, and switching equipment, at customer sites.
  • Aug-2022: Cummins, Inc. acquired Meritor, Inc., a provider of drivetrain, mobility, braking, aftermarket, and electric powertrain solutions for commercial vehicles and industrial markets. Under this acquisition, Cummins will add Meritor's products to its component business portfolio. Additionally, the acquisition will accelerate the growth of the core axle and brake businesses of Cummins by serving commercial truck, trailer, off-highway, defense, specialty, and aftermarket customers all over the world.
  • Jun-2021: Prestolite Electric Incorporated entered a partnership with Brighton Cromwell LLC, a provider of maintenance kits and kitting services to the Defense Logistics Agency (DLA). Under this partnership, Prestolite Electric will expand its presence in the military industry by providing premium IdlePro Extreme alternators, PowerPro Extreme 12 and PowerPro Extreme 5 starters, and legacy Leece-Neville Heavy-Duty starters and alternators.
List of Key Companies Profiled
  • Denso Corporation
  • Mitsubishi Electric Corporation
  • Valeo SA
  • Robert Bosch GmbH
  • HELLA GmbH & Co. KGaA (FORVIA S.E.)
  • Hitachi, Ltd. (Hitachi Astemo, Ltd.)
  • Cummins, Inc.
  • Prestolite Electric Incorporated (Zhongshan Broad-Ocean Motor Co., Ltd.)
  • Lucas Automotive Aftermarket
  • BBB Industries, LLC (Clearlake Capital Group, L.P.)
Global Alternators Market Report Segmentation

By Voltage (Volume, Thousand Units, USD Billion, 2020-2031)
  • Medium
  • High
By Phase (Volume, Thousand Units, USD Billion, 2020-2031)
  • Three Phase Alternator
  • Two Phase Alternator
  • Single Phase Alternator
By End-Use Industry (Volume, Thousand Units, USD Billion, 2020-2031)
  • Automotive
  • Power Generation
  • Construction
  • Oil & Gas
  • Others
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
  • Brushed Alternators
  • Brushless Alternators
  • Permanent Magnet Alternators
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA


Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Alternators Market, by Voltage
1.4.2 Global Alternators Market, by Phase
1.4.3 Global Alternators Market, by End-Use Industry
1.4.4 Global Alternators Market, by Type
1.4.5 Global Alternators Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Alternators Market by Voltage
4.1 Global Medium Market by Region
4.2 Global High Market by Region
Chapter 5. Global Alternators Market by Phase
5.1 Global Three Phase Alternator Market by Region
5.2 Global Two Phase Alternator Market by Region
5.3 Global Single Phase Alternator Market by Region
Chapter 6. Global Alternators Market by End-Use Industry
6.1 Global Automotive Market by Region
6.2 Global Power Generation Market by Region
6.3 Global Construction Market by Region
6.4 Global Oil & Gas Market by Region
6.5 Global Others Market by Region
Chapter 7. Global Alternators Market by Type
7.1 Global Brushed Alternators Market by Region
7.2 Global Brushless Alternators Market by Region
7.3 Global Permanent Magnet Alternators Market by Region
Chapter 8. Global Alternators Market by Region
8.1 North America Alternators Market
8.1.1 North America Alternators Market by Voltage
8.1.1.1 North America Medium Market by Region
8.1.1.2 North America High Market by Region
8.1.2 North America Alternators Market by Phase
8.1.2.1 North America Three Phase Alternator Market by Country
8.1.2.2 North America Two Phase Alternator Market by Country
8.1.2.3 North America Single Phase Alternator Market by Country
8.1.3 North America Alternators Market by End-Use Industry
8.1.3.1 North America Automotive Market by Country
8.1.3.2 North America Power Generation Market by Country
8.1.3.3 North America Construction Market by Country
8.1.3.4 North America Oil & Gas Market by Country
8.1.3.5 North America Others Market by Country
8.1.4 North America Alternators Market by Type
8.1.4.1 North America Brushed Alternators Market by Country
8.1.4.2 North America Brushless Alternators Market by Country
8.1.4.3 North America Permanent Magnet Alternators Market by Country
8.1.5 North America Alternators Market by Country
8.1.5.1 US Alternators Market
8.1.5.1.1 US Alternators Market by Voltage
8.1.5.1.2 US Alternators Market by Phase
8.1.5.1.3 US Alternators Market by End-Use Industry
8.1.5.1.4 US Alternators Market by Type
8.1.5.2 Canada Alternators Market
8.1.5.2.1 Canada Alternators Market by Voltage
8.1.5.2.2 Canada Alternators Market by Phase
8.1.5.2.3 Canada Alternators Market by End-Use Industry
8.1.5.2.4 Canada Alternators Market by Type
8.1.5.3 Mexico Alternators Market
8.1.5.3.1 Mexico Alternators Market by Voltage
8.1.5.3.2 Mexico Alternators Market by Phase
8.1.5.3.3 Mexico Alternators Market by End-Use Industry
8.1.5.3.4 Mexico Alternators Market by Type
8.1.5.4 Rest of North America Alternators Market
8.1.5.4.1 Rest of North America Alternators Market by Voltage
8.1.5.4.2 Rest of North America Alternators Market by Phase
8.1.5.4.3 Rest of North America Alternators Market by End-Use Industry
8.1.5.4.4 Rest of North America Alternators Market by Type
8.2 Europe Alternators Market
8.2.1 Europe Alternators Market by Voltage
8.2.1.1 Europe Medium Market by Country
8.2.1.2 Europe High Market by Country
8.2.2 Europe Alternators Market by Phase
8.2.2.1 Europe Three Phase Alternator Market by Country
8.2.2.2 Europe Two Phase Alternator Market by Country
8.2.2.3 Europe Single Phase Alternator Market by Country
8.2.3 Europe Alternators Market by End-Use Industry
8.2.3.1 Europe Automotive Market by Country
8.2.3.2 Europe Power Generation Market by Country
8.2.3.3 Europe Construction Market by Country
8.2.3.4 Europe Oil & Gas Market by Country
8.2.3.5 Europe Others Market by Country
8.2.4 Europe Alternators Market by Type
8.2.4.1 Europe Brushed Alternators Market by Country
8.2.4.2 Europe Brushless Alternators Market by Country
8.2.4.3 Europe Permanent Magnet Alternators Market by Country
8.2.5 Europe Alternators Market by Country
8.2.5.1 Germany Alternators Market
8.2.5.1.1 Germany Alternators Market by Voltage
8.2.5.1.2 Germany Alternators Market by Phase
8.2.5.1.3 Germany Alternators Market by End-Use Industry
8.2.5.1.4 Germany Alternators Market by Type
8.2.5.2 UK Alternators Market
8.2.5.2.1 UK Alternators Market by Voltage
8.2.5.2.2 UK Alternators Market by Phase
8.2.5.2.3 UK Alternators Market by End-Use Industry
8.2.5.2.4 UK Alternators Market by Type
8.2.5.3 France Alternators Market
8.2.5.3.1 France Alternators Market by Voltage
8.2.5.3.2 France Alternators Market by Phase
8.2.5.3.3 France Alternators Market by End-Use Industry
8.2.5.3.4 France Alternators Market by Type
8.2.5.4 Russia Alternators Market
8.2.5.4.1 Russia Alternators Market by Voltage
8.2.5.4.2 Russia Alternators Market by Phase
8.2.5.4.3 Russia Alternators Market by End-Use Industry
8.2.5.4.4 Russia Alternators Market by Type
8.2.5.5 Spain Alternators Market
8.2.5.5.1 Spain Alternators Market by Voltage
8.2.5.5.2 Spain Alternators Market by Phase
8.2.5.5.3 Spain Alternators Market by End-Use Industry
8.2.5.5.4 Spain Alternators Market by Type
8.2.5.6 Italy Alternators Market
8.2.5.6.1 Italy Alternators Market by Voltage
8.2.5.6.2 Italy Alternators Market by Phase
8.2.5.6.3 Italy Alternators Market by End-Use Industry
8.2.5.6.4 Italy Alternators Market by Type
8.2.5.7 Rest of Europe Alternators Market
8.2.5.7.1 Rest of Europe Alternators Market by Voltage
8.2.5.7.2 Rest of Europe Alternators Market by Phase
8.2.5.7.3 Rest of Europe Alternators Market by End-Use Industry
8.2.5.7.4 Rest of Europe Alternators Market by Type
8.3 Asia Pacific Alternators Market
8.3.1 Asia Pacific Alternators Market by Voltage
8.3.1.1 Asia Pacific Medium Market by Country
8.3.1.2 Asia Pacific High Market by Country
8.3.2 Asia Pacific Alternators Market by Phase
8.3.2.1 Asia Pacific Three Phase Alternator Market by Country
8.3.2.2 Asia Pacific Two Phase Alternator Market by Country
8.3.2.3 Asia Pacific Single Phase Alternator Market by Country
8.3.3 Asia Pacific Alternators Market by End-Use Industry
8.3.3.1 Asia Pacific Automotive Market by Country
8.3.3.2 Asia Pacific Power Generation Market by Country
8.3.3.3 Asia Pacific Construction Market by Country
8.3.3.4 Asia Pacific Oil & Gas Market by Country
8.3.3.5 Asia Pacific Others Market by Country
8.3.4 Asia Pacific Alternators Market by Type
8.3.4.1 Asia Pacific Brushed Alternators Market by Country
8.3.4.2 Asia Pacific Brushless Alternators Market by Country
8.3.4.3 Asia Pacific Permanent Magnet Alternators Market by Country
8.3.5 Asia Pacific Alternators Market by Country
8.3.5.1 China Alternators Market
8.3.5.1.1 China Alternators Market by Voltage
8.3.5.1.2 China Alternators Market by Phase
8.3.5.1.3 China Alternators Market by End-Use Industry
8.3.5.1.4 China Alternators Market by Type
8.3.5.2 Japan Alternators Market
8.3.5.2.1 Japan Alternators Market by Voltage
8.3.5.2.2 Japan Alternators Market by Phase
8.3.5.2.3 Japan Alternators Market by End-Use Industry
8.3.5.2.4 Japan Alternators Market by Type
8.3.5.3 India Alternators Market
8.3.5.3.1 India Alternators Market by Voltage
8.3.5.3.2 India Alternators Market by Phase
8.3.5.3.3 India Alternators Market by End-Use Industry
8.3.5.3.4 India Alternators Market by Type
8.3.5.4 South Korea Alternators Market
8.3.5.4.1 South Korea Alternators Market by Voltage
8.3.5.4.2 South Korea Alternators Market by Phase
8.3.5.4.3 South Korea Alternators Market by End-Use Industry
8.3.5.4.4 South Korea Alternators Market by Type
8.3.5.5 Singapore Alternators Market
8.3.5.5.1 Singapore Alternators Market by Voltage
8.3.5.5.2 Singapore Alternators Market by Phase
8.3.5.5.3 Singapore Alternators Market by End-Use Industry
8.3.5.5.4 Singapore Alternators Market by Type
8.3.5.6 Malaysia Alternators Market
8.3.5.6.1 Malaysia Alternators Market by Voltage
8.3.5.6.2 Malaysia Alternators Market by Phase
8.3.5.6.3 Malaysia Alternators Market by End-Use Industry
8.3.5.6.4 Malaysia Alternators Market by Type
8.3.5.7 Rest of Asia Pacific Alternators Market
8.3.5.7.1 Rest of Asia Pacific Alternators Market by Voltage
8.3.5.7.2 Rest of Asia Pacific Alternators Market by Phase
8.3.5.7.3 Rest of Asia Pacific Alternators Market by End-Use Industry
8.3.5.7.4 Rest of Asia Pacific Alternators Market by Type
8.4 LAMEA Alternators Market
8.4.1 LAMEA Alternators Market by Voltage
8.4.1.1 LAMEA Medium Market by Country
8.4.1.2 LAMEA High Market by Country
8.4.2 LAMEA Alternators Market by Phase
8.4.2.1 LAMEA Three Phase Alternator Market by Country
8.4.2.2 LAMEA Two Phase Alternator Market by Country
8.4.2.3 LAMEA Single Phase Alternator Market by Country
8.4.3 LAMEA Alternators Market by End-Use Industry
8.4.3.1 LAMEA Automotive Market by Country
8.4.3.2 LAMEA Power Generation Market by Country
8.4.3.3 LAMEA Construction Market by Country
8.4.3.4 LAMEA Oil & Gas Market by Country
8.4.3.5 LAMEA Others Market by Country
8.4.4 LAMEA Alternators Market by Type
8.4.4.1 LAMEA Brushed Alternators Market by Country
8.4.4.2 LAMEA Brushless Alternators Market by Country
8.4.4.3 LAMEA Permanent Magnet Alternators Market by Country
8.4.5 LAMEA Alternators Market by Country
8.4.5.1 Brazil Alternators Market
8.4.5.1.1 Brazil Alternators Market by Voltage
8.4.5.1.2 Brazil Alternators Market by Phase
8.4.5.1.3 Brazil Alternators Market by End-Use Industry
8.4.5.1.4 Brazil Alternators Market by Type
8.4.5.2 Argentina Alternators Market
8.4.5.2.1 Argentina Alternators Market by Voltage
8.4.5.2.2 Argentina Alternators Market by Phase
8.4.5.2.3 Argentina Alternators Market by End-Use Industry
8.4.5.2.4 Argentina Alternators Market by Type
8.4.5.3 UAE Alternators Market
8.4.5.3.1 UAE Alternators Market by Voltage
8.4.5.3.2 UAE Alternators Market by Phase
8.4.5.3.3 UAE Alternators Market by End-Use Industry
8.4.5.3.4 UAE Alternators Market by Type
8.4.5.4 Saudi Arabia Alternators Market
8.4.5.4.1 Saudi Arabia Alternators Market by Voltage
8.4.5.4.2 Saudi Arabia Alternators Market by Phase
8.4.5.4.3 Saudi Arabia Alternators Market by End-Use Industry
8.4.5.4.4 Saudi Arabia Alternators Market by Type
8.4.5.5 South Africa Alternators Market
8.4.5.5.1 South Africa Alternators Market by Voltage
8.4.5.5.2 South Africa Alternators Market by Phase
8.4.5.5.3 South Africa Alternators Market by End-Use Industry
8.4.5.5.4 South Africa Alternators Market by Type
8.4.5.6 Nigeria Alternators Market
8.4.5.6.1 Nigeria Alternators Market by Voltage
8.4.5.6.2 Nigeria Alternators Market by Phase
8.4.5.6.3 Nigeria Alternators Market by End-Use Industry
8.4.5.6.4 Nigeria Alternators Market by Type
8.4.5.7 Rest of LAMEA Alternators Market
8.4.5.7.1 Rest of LAMEA Alternators Market by Voltage
8.4.5.7.2 Rest of LAMEA Alternators Market by Phase
8.4.5.7.3 Rest of LAMEA Alternators Market by End-Use Industry
8.4.5.7.4 Rest of LAMEA Alternators Market by Type
Chapter 9. Company Profiles
9.1 Denso Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional Analysis
9.1.4 Recent strategies and developments:
9.1.4.1 Product Launches and Product Expansions:
9.1.5 SWOT Analysis
9.2 Mitsubishi Electric Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 SWOT Analysis
9.3 Valeo SA
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 SWOT Analysis
9.4 Robert Bosch GmbH
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
9.4.5.1 Product Launches and Product Expansions:
9.4.6 SWOT Analysis
9.5 HELLA GmbH & Co. KGaA (FORVIA S.E.)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.5.5 SWOT Analysis
9.6 Hitachi, Ltd. (Hitachi Astemo, Ltd.)
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expenses
9.6.5 SWOT Analysis
9.7 Cummins, Inc.
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Regional & Segmental Analysis
9.7.4 Research & Development Expenses
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.7.5.2 Acquisition and Mergers:
9.7.6 SWOT Analysis
9.8 Prestolite Electric Incorporated (Zhongshan Broad-Ocean Motor Co., Ltd.)
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.8.3 SWOT Analysis
9.9 Lucas Automotive Aftermarket
9.9.1 Company Overview
9.9.2 SWOT Analysis
9.10. BBB Industries, LLC (Clearlake Capital Group, L.P.)
9.10.1 Company Overview
9.10.2 SWOT Analysis
Chapter 10. Winning Imperatives of Alternators Market

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