Industry Background:
Alternators are devices that are used in modern automobiles so as to charge the battery and to power up the electrical system whenever the engine is running. Up till the 1960s, automobiles used to have DC dynamo generators with commutators. With the accessibility of affordable silicon diode rectifiers, now alternators are used instead. This was further encouraged by the growing electrical power which is required for the cars in this time, with the increasing load from bigger headlamps, heated rear windows, electric wipers, and other accessories. An alternator is the major source of generation of electric power in a car and is the most important component in the vehicle's charging system.This growth is primarily driven by Rapid Growth of Automobile Sector in Emerging Economies is Driving the Market Demand
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Lutone Starters and Alternators (United States), A-1 Auto Electric Co Inc (United States), AUTO-LEK (P) Ltd. (India), DENSO Automotive UK Ltd (United Kingdom), HELLA KGaA Hueck & Co (Germany), Mitsubishi Electric Corporation (Japan), Hitachi Automotive Systems Americas, Inc (United States), Elta Automotive Ltd (United Kingdom), Motorcar Parts of America, INC (United States), Quality Power Automotive (United States) and Manchester Auto Electrical (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2022, Faurecia acquired Hella, making it the 7th largest automotive supplier in the world. Hella and Faurecia usher in a newly united group. This innovative acquisition unites two complementary and profitable companies to become the seventh-largest global automotive supplier with an advanced technology portfolio. The total group sales target of 33 billion euros in 2025 represents a significant impact and now we will work together effectively to immediately implement the important and identified synergies and create sustainable value for all stakeholders.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Influencing Trend:
Growing Trend of Integrating of Automation in the Industrial Sectors
Market Growth Drivers:
Rapid Growth of Automobile Sector in Emerging Economies is Driving the Market Demand and Increase in the Adoption of More Electricity Based Vehicles Because Of Rising Environment Related Issues
Challenges:
Electric vehicles to challenge the growth of automotive alternators and Concern Related To Their Complexity of Design
Restraints:
Unavailability of the Raw Materials Used for Making These Alternators
Opportunities:
The Rise in Demand of High Output Alternators Is Likely To Bring More Opportunities to the Alternator Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automotive Alternator Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automotive Alternator Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automotive Alternator players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automotive Alternator Study Sheds Light on
The Automotive Alternator Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Alternator industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Alternator industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.