Automotive Alternator Market to grow by USD 3.29 billion from 2022 to 2027; market is fragmented due to the presence of prominent companies like ALANKO GmbH, AS PL Sp. z o.o. & BBB Industries LLC, and many more - Technavio
NEW YORK, Jan. 22, 2024 /PRNewswire/ -- The automotive alternator market is estimated to grow by USD 3.29 billion from 2022 to 2027, growing at a CAGR of 6.08%. The automotive alternator market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive alternator market are ALANKO GmbH, AS PL Sp. z o.o., BBB Industries LLC, BluePrint Engines, BorgWarner Inc., Cummins Inc., DENSO Corp., Hitachi Ltd., Jumps Auto Industries Ltd., MAHLE GmbH, MAPCO Autotechnik GmbH, Minda Corp. Ltd., Mitsubishi Electric Corp., Motorcar Parts of America Inc., Ningbo Zhongwang Auto Fittings Co. Ltd., Prestolite Electric Inc., Robert Bosch GmbH, Stellantis NV, TVS Motor Co. Ltd., and Valeo SA. Further insights on Competitive landscape analysis and companies, and the latest developments. Download a Free Sample before buying
What are some significant company offerings?
- ALANKO GmbH - The company offers automotive alternators such as ALANKO Rectifier, alternator 10710125, ALANKO Rectifier, alternator 10710052, and ALANKO Rectifier, alternator 10719016.
- AS PL Sp. z o.o. - The company offers automotive alternators such as A3103 alternators.
- BBB Industries LLC - The company offers automotive alternators under the brand, Wilson.
- For details on competitive landscape and their offerings – Buy the report!
Which region is the leading contributor to market growth?
By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. In the regional analysis, the Asia-Pacific (APAC) region emerges as a key player in the automotive alternator market, projected to hold the largest market share. Accounting for 56% of the global market growth during the forecast period, APAC's automotive alternator market is thriving due to surges in vehicle ownership and technology adoption. However, advanced tech adoption faces challenges in India, China, and Japan, primarily driven by cost considerations. Notably, the region's production dynamics rely on robust vehicle sales and export-oriented demand, fueled by labor availability and favorable economic conditions in India and China. This underscores the pivotal role of APAC in shaping the future of automotive alternators. Sample have historical and forecast opportunities data along Download a free sample report
What are the major points to be noted in the market during the forecast period?
Advances in integrated starter generators are emerging trends in the market, while the increasing use of electronic components in vehicles is a major driver, and the increasing adoption of EVs hampers market growth, says a senior analyst of Technavio.
What is the top contributing market segment during the forecast period?
- The market's growth is predominantly tied to the Internal Combustion (IC) engine vehicle segment, with heightened demand and production in the Asia-Pacific (APAC) region. Internal combustion engine vehicles (ICEVs) maintain their prominence, fueled by APAC's robust vehicle demand and increasing consumer expenditure on technologically advanced automobiles. This underscores the significance of APAC in steering the market's trajectory. The region's commitment to emerging trends in vehicle electrification, alternator components, energy efficiency, and compliance with environmental regulations further solidifies its role as a pivotal force in the global automotive market.
Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report
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TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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SOURCE Technavio
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