Automotive Alternator Slip Ring Market size to grow by USD 111.02 million from 2023 to 2028; market is fragmented due to the presence of prominent companies like Asian Tool Technologies Ltd., AS PL Sp. z o.o. & Auto Brite International, and many more
NEW YORK, Jan. 11, 2024 /PRNewswire/ -- The automotive alternator slip ring market is estimated to grow by USD 111.02 million from 2023 to 2028, growing at a CAGR of 5.19%. The automotive alternator slip ring market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive alternator slip ring market are Asian Tool Technologies Ltd., AS PL Sp. z o.o., Auto Brite International, BorgWarner Inc., ELECTRAACE, Electromags Automotive Products Pvt. Ltd., Faurecia SE, Hangzhou Grand Technology Co. Ltd., Maniac Electric Motors, Mersen Corporate Services SAS, Mid Ulster Rotating Electrics Ltd., MOFLON TECHNOLOGY CO. LTD., Moog Inc., Morgan Advanced Materials Plc, Motorcar Parts of America Inc., Ningbo zhongwang auto fittings Co. Ltd., Robert Bosch GmbH, Schleifring GmbH, SENRING Electronics Co. Ltd., and United Equipment Accessories Inc.
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Company Offering:
Asian Tool Technologies Ltd.: The company offers automotive alternator slip ring applications such as Resistor cutting machine, Rotary stage, Package machine, Laminating machine, and others.
AS PL Sp. z o.o: The company offers automotive alternator slip rings such as AS PL Alternator slip ring ASL9001, ASL9002, ASL9004, and others.
Auto Brite International: The company offers automotive alternator slip rings such as SR 1001, SR 1002, SR 1003, and others.
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By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market.
- APAC accounts for 65% of the growth of the global market during the forecast period. APAC constitutes one of the fastest-growing economies globally, including China, India, Thailand, Indonesia, and South Korea. In addition, with rapid economic growth in the region, the per capita income improved significantly in 2023, which fuelled the purchasing power of consumers and led to high automobile sales in countries such as Indonesia and Thailand.
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- Impactful driver- The Automotive Alternator Slip Ring Market experiences growth driven by the increasing demand for Internal Combustion Engine (ICE)-based vehicles. These rings, integral to vehicle charging systems and energy conversion, form part of electrical components within automotive alternators. Their role in power generation supports automotive electronics. Both Original Equipment Manufacturer (OEM) and automotive aftermarket sectors benefit from this trend, marking a significant driver in the market's growth amidst the automotive industry's evolving landscape.
- Key Trend - An emerging trend in the Automotive Alternator Slip Ring Market is the rising adoption of smart alternators, significantly influencing market growth. These alternators, seen in passenger vehicles and heavy-duty vehicles, reflect advancements in automotive technology. Featuring brushless alternator designs, they optimize voltage output, enhancing electrical connectivity and electric power distribution within generator systems. This trend aligns with automotive engineering, emphasizing efficient electrical contacts and automotive components, reshaping the landscape of automotive maintenance and power management.
- Major Challenges - A significant challenge facing the Automotive Alternator Slip Ring Market involves vehicle recalls linked to defective automotive alternators. These issues, affect both Electric Vehicles (EVs) and Internal Combustion Engine (ICE) vehicles from concerns related to voltage regulation and rotating electrical components. Such challenges impact automotive repair, necessitating closer scrutiny of automotive parts for enhanced energy efficiency and reliability, influencing the overall automotive industry's landscape.
Market Segmentation
- The market growth by the passenger cars segment is significant during the forecast period. The passenger cars segment dominates the global automotive alternator slip ring market due to the high-volume production of passenger cars when compared to CVs.
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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 Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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SOURCE Infiniti Research, Inc.
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