The automotive alternator market is witnessing a percolation across the automotive industry as the component is growing essential each day. An automotive alternator is the one of the most important components that can charge the power system of a car. Its impact is visible in powering the vehicle, electronics, and lights and to charge the battery. It is made of stator, alternator rotor, output diodes, voltage regulator, diode trio, field current supply and alternator or a battery light. With the help of electromagnetism, it generates AC power for the rotor and stator which then gets transmitted to the battery. Its standard depends on the type of car. Emergency vehicles and luxury cars require high-output alternators due to their electrical systems that draw in more electricity for proper functioning. The global automotive alternator market can rise with a 5.5% CAGR during the forecast period (2016-2022). Market Research Future (MRFR) in their report reveals further factors that can boost the automotive alternator market in the coming years. Growing production of the luxury cars is among the many. Increasing adoption of electricity-based vehicles is expected to drive the automotive alternator market further.
Despite its multiple benefits, the automotive alternator market can feel a bit daunted by the increasing market proliferation of hybrid cars. These cars use combustion engine to spark acceleration which negates the needs for automotive alternator. This can put a leash on the automotive alternator market during the forecast period.
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Valeo, Denso, Bosch, Remy, ISKRA, Mando, Mitsubishi, Hitachi Automotive, Magneti Marelli, Motorcar Parts of America, Hella KGaA Hueck & Co., and Lucas Electrical are some of the prominent players profiled in MRFR Analysis for the global automotive alternator market.
The automotive alternator market can be segmented in to two key dynamics for the convenience of the report and enhanced understanding, type and vehicle type.
By type, the automotive alternator market can be segmented into single phase and three phase.
Based on the vehicle type, the automotive alternator market can be segmented into passenger and commercial. High-end luxury cars are integrating automotive alternator of high caliber which makes the sector a big influence on the automotive alternator industry. Vehicles such as emergency medical systems and flashing lights are also providing traction to the automotive alternator market.
Based on regions, the automotive alternator market namely includes North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).
North America is leading the market with considerable margin and during the forecast period it can remain so. The region has technological advantage and a substantial pool of investors ready to spend in luxury cars. This can be considered as a possible traction generator for the market. At the same time the automotive sector is revamping owing to which the market is witnessing greater percolation. Adoption of electric cars in the region is also quite high which can trigger the growth of the market.
Europe has similar features like that of the North America which is providing the region enough leverage. The APAC market can emerge as a possible gamechanger during the forecast period. Major market players in the automotive industry are looking for market expansion and the APAC region is a prospective option. Owing to such decisions the market can grow during the forecast period and contribute substantially to the global market.
In October, 2017, Remy Power Products announced the addition of starter and alternator part numbers for 2002 to 2016 Sprinter van applications. The components are made for the aftermarket and with the finest precision as the original equipment. Its advantage lies with its features such as perfect fit and ability to perform flawlessly.
In 2017, BorgWarner developed manufacturing process that can speed up the production of high-voltage electric motors up to 350 volts. The company desires to initiate the technology in a 300-volt S-wind motor for an on-axis P2 hybrid vehicle. Already in production with Hyundai Motor Company, this process can impact production like never before.
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