Alternator Market Overview
Alternator
Market Size is forecast to reach $18.5 billion by 2026, at a CAGR of 4.28%
during 2021-2026. In the power sector and industrial sector, there is a
requirement of devices for energy conversion where the alternators comes into
the picture as it converts mechanical energy into electrical energy. In these sectors there
is a huge requirement of steam turbines driven alternators to extract thermal energy from pressurized steam and uses it to
do mechanical work on a rotating output shaft. The demand for alternators have
witnessed a positive growth in the market increasing consumption of alternating
current in different sectors, such as automotive, gas, industrial manufacturing
and others. Growing
investment in grid infrastructure in the developing regions has driven the
demand for prime movers to provide electricity for
the traction motors (AC or DC) used in power generation. In addition, the adoption
of offshore wind energy with advance technology has driven the growth of
induction generators as it produces a three phase voltage output. Growing applications
of alternators in various industrial verticals such as electric generators, automotive, marine, gas and oil industries, power
plants and others has increased the degree of competition in the global
alternator market.
Alternator Market Report Coverage
The report: “Alternator Market Industry Outlook–
Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the
following segments of the Alternator Market
By Type: Permanent Magnet Alternators,
Synchronous Alternators, Electro-Magnet Induction Alternators
By Voltage: <220V, 220-440V, >440V
By Rated Power: <1, 1Kw-5Kw, 5Kw-50Kw, 50-500Kw,
500-1500Kw, 1500-5000Kw, >5000Kw
By Speed: Low, Medium, High, Ultra –High
By Fuel Type: Fossil Fuels, Natural Fuels
By Engine Type: Gas Engine, Diesel Engine
By Turbine Type: Gas Turbine, Stem Turbine
By End Users: Oil and Gas, Industrial,
Residential and Commercial, Prime Power, Data Centers, Others
By
Geography: North
America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain,
Russia and Others), APAC (China, Japan India, Australia and Others), and RoW
(Middle East and Africa, South America)
Key Takeaways
- Surge in the Industrialization along with the growth of automotive sector owing to the rising disposable income has increased the adoption of alternators as they produce alternating current supply and converts mechanical energy into electrical energy.
- Major fuels used in the global alternator market are fossil fuels and natural among which fossil fuel segment is expected to witness a highest CAGR of 5.01% the forecast period, owing to major use of diesel, gas, coal and others for the propulsion of the alternators.
- APAC is witnessing a major growth in the market owing to the surge in automotive industry and Power sector where the alternators are used to generate the power which are further distributed by the electric power grids.
Global Alternator Market, By Region, 2020
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Alternator Market Segment Analysis - By Type
The Synchronous alternator segment is growing at a significant market
value of 28.16% in 2020 as it is highly used in industrial applications. Generator is to generate commercial
frequency current frequently by converting the mechanical energy from the main
mover to an AC electrical energy at a specific frequency & voltage. Rapid growth of industrialization has
surged the demand for power which is highly augmenting the need for synchronous
alternator as it provides
power to a grid ranging from 100
kilowatts to several megawatts.
The growing energy consumption indicates an increase of industrial growth which
in turn has growing need for
highly efficient, robust and reliable wind turbines. In addition, the need for
synchronous alternators are rising as the extremely harsh environments of the
offshore wind farms lead to increased risk of pressure pulsation peaks and
vibrations.
Alternator Market Segment Analysis - By End Users
Industrial
sector is expected to witness a highest CAGR of 5.11% during the forecast period, owing
to the presence of a vast Energy sector globally where the Oil and Gas is a major alternators used in providing
reliable power to critical downhole drilling tools and also used as constant
source of power replacing batteries. According to the organization of the petroleum exporting
countries (OPEC), Kuwait Petroleum Corporation (KPC), increased crude oil
production capacity to 4 mb/d in 2020. Here the additional production capacity comes
from technically challenging sour and heavy fields. Kuwait has accordingly awarded
enhanced technical service agreements with international firms for development
of heavy oil. This impacted the growth of steam turbines in power production
along with induction generators and prime movers. In addition, The Clean Fuels
Project (CFP), started in 2019, transformed Kuwait’s two refineries into a
single integrated merchant-refining complex. As part of this integration
project, Mina al-Ahmadi refinery shed 120,000 b/d and the Mina al-Abdulla
refinery added 184,000 b/d resulting in a net gain of 64,000 b/d with a total
of 800,000 b/d refining capacity at the new integrated complex in 2019. All
these boosted the growth of the Alternator Market.
Alternator Market Segment Analysis - By Geography
Alternator Market in Asia-Pacific region held significant market share of 30.10% in 2020. The growth in APAC is chiefly driven by extensive industrial and urbanization activities in countries such as Japan, India, and China accompanied with the rising disposable incomes and prevalence of a luxurious lifestyle have led to a surge in the sales of vehicles over the years. In addition, rising industrialization along with growth in cogeneration offer new opportunities, thereby creating an attractive market for the alternators. Indian government announced in 2019 that it planned to invest $35 billion for reforming the utility sector. The investment focused on infrastructure and technology upgrades of the ailing utilities to make them more efficient and reduce financial losses. In addition, South Korea based Hyundai Motor Group announced in 2019 to invest $34.65 billion in mobility technology and strategic investments by 2025. Additionally it received funds from South Korean government worth 1.7 trillion won to boost autonomous vehicle technology. Investments such as these will open new prospects for alternators in automotive applications.
Alternator Market Drivers
Growth of alternators in Marine applications:
Increasing government support for navy defense,
combined with the robust growth of progressive shipping lines, is expected to
boost the use of alternator market trends. The United States government is
aggressively investing in upgrading its current naval shipyards and fleet
repair and maintenance where the alternators are used in different solutions
including the diesel electric propulsion, shaft generator, emergency or harbour
applications, thus widening the market landscape. In Germany, inland and ocean
shipping lanes are vital transport routes for raw materials entering the
country as well as commercial goods exported to Europe and elsewhere. About 95
percent of intercontinental and 62 percent of inter-European commercial
transport is done by sea, which helps to alleviate traffic congestion on the
roads. Commercial shipping and port operations are critical growth industries
for the German economy. The German
shipbuilding industry ranks first in Europe and third in the world. German
shipyards are experts in the construction of high-tech container vessels and
passenger ships. Their designs are spreading across the world and influencing
market needs on a global scale, as they have done with container vessels.
This is expected to boost the market growth for alternators.
Growth of the automotive industry:
Initiatives from the government for self-sufficiency are attracting the
automotive industry growth in developing countries such as India, China and
others which in turn has spurred the alternator market as it is used to charge the battery and to power the electrical system in
automobiles. Automobile
industry is the major contributor of India’s manufacturing GDP in which
automotive industry is the largest one. India is the 7th largest producer of
automobiles and it is estimated to become the 3rd largest automobile market in
the world by 2024. Italy had witnessed
about $2.13 M of vehicle sales and registrations as per OICA during 2019. Moreover, According to OICA statistics, Spain has produced about 2,822,355
total vehicles in 2019.
Alternator Market Challenges:
Slowdown of Alternators challenges:
Alternators are used to
power the different electrical systems in the cars and keep the battery charged. Alternators eventually slows down and
begins to fail and causes variety of different electrical problems and causes
breakdown in the cars. This certain slowdown and breakdown problems in the
alternators are analyzed to restrain the growth of the market in the forecast
period 2020-2026.
Alternator Market Landscape
Product
launches, acquisitions, Partnerships and R&D activities are key strategies
adopted by players in
the Alternator Market. Alternator Market top 10 companies include Cummins Generator Technologies, Mecc Alte Alternators
Pty. Ltd., Leroy Somer, Inc., Valeo Service, Denso Corporation, Weg SA,
Mitshubishi Electric Corporation, Hitachi Automotive Systems, Ltd., HHI, Bosch
Group among others.
Acquisitions/Product Launches
- In 2020, Leroy Somer, Inc. announced alternator named “TAL 0473” which features a SHUNT excitation system and an R150 regulator as standard delivering a nominal power between 400 and 660 kVA at 50 Hz.
- In 2019, Mecc Alte Alternators Pty. Ltd. Launched new X-type series of alternators which features specialist technologies to create a superior range designed and tested to meet the all the industrial challenges.
Relevant Report Titles:
Switchgear Market:
Report Code; EPR 0016
United
States LV & MV Switchgear Market:
Report Code: ESR 0354
For more Electronics Market reports, please click here
LIST OF TABLES
1.Global MARKET SEGMENTATION Market 2019-2024 ($M)1.1 By Type Market 2019-2024 ($M) - Global Industry Research
1.1.1 Gas Engine Market 2019-2024 ($M)
1.1.2 Diesel Engine Market 2019-2024 ($M)
1.1.3 Gas Turbine Market 2019-2024 ($M)
1.1.4 Steam Turbine Market 2019-2024 ($M)
1.2 By Power Range Market 2019-2024 ($M) - Global Industry Research
1.2.1 1 MW5 MW Market 2019-2024 ($M)
1.2.2 5 MW20 MW Market 2019-2024 ($M)
1.2.3 20 MW40 MW Market 2019-2024 ($M)
1.2.4 300kW1 MW Market 2019-2024 ($M)
1.2.5 60kW300kW Market 2019-2024 ($M)
1.2.6 1kW60kW Market 2019-2024 ($M)
1.3 By Application Market 2019-2024 ($M) - Global Industry Research
1.3.1 Oil Gas Market 2019-2024 ($M)
1.3.2 Prime Power Market 2019-2024 ($M)
1.3.3 Data Centres Market 2019-2024 ($M)
1.3.4 Residential Market 2019-2024 ($M)
1.3.5 Industrial and Commercial Market 2019-2024 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
3.Global MARKET SEGMENTATION Market 2019-2024 (Volume/Units)
3.1 By Type Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 Gas Engine Market 2019-2024 (Volume/Units)
3.1.2 Diesel Engine Market 2019-2024 (Volume/Units)
3.1.3 Gas Turbine Market 2019-2024 (Volume/Units)
3.1.4 Steam Turbine Market 2019-2024 (Volume/Units)
3.2 By Power Range Market 2019-2024 (Volume/Units) - Global Industry Research
3.2.1 1 MW5 MW Market 2019-2024 (Volume/Units)
3.2.2 5 MW20 MW Market 2019-2024 (Volume/Units)
3.2.3 20 MW40 MW Market 2019-2024 (Volume/Units)
3.2.4 300kW1 MW Market 2019-2024 (Volume/Units)
3.2.5 60kW300kW Market 2019-2024 (Volume/Units)
3.2.6 1kW60kW Market 2019-2024 (Volume/Units)
3.3 By Application Market 2019-2024 (Volume/Units) - Global Industry Research
3.3.1 Oil Gas Market 2019-2024 (Volume/Units)
3.3.2 Prime Power Market 2019-2024 (Volume/Units)
3.3.3 Data Centres Market 2019-2024 (Volume/Units)
3.3.4 Residential Market 2019-2024 (Volume/Units)
3.3.5 Industrial and Commercial Market 2019-2024 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2019-2024 (Volume/Units)
5.North America MARKET SEGMENTATION Market 2019-2024 ($M)
5.1 By Type Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Gas Engine Market 2019-2024 ($M)
5.1.2 Diesel Engine Market 2019-2024 ($M)
5.1.3 Gas Turbine Market 2019-2024 ($M)
5.1.4 Steam Turbine Market 2019-2024 ($M)
5.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
5.2.1 1 MW5 MW Market 2019-2024 ($M)
5.2.2 5 MW20 MW Market 2019-2024 ($M)
5.2.3 20 MW40 MW Market 2019-2024 ($M)
5.2.4 300kW1 MW Market 2019-2024 ($M)
5.2.5 60kW300kW Market 2019-2024 ($M)
5.2.6 1kW60kW Market 2019-2024 ($M)
5.3 By Application Market 2019-2024 ($M) - Regional Industry Research
5.3.1 Oil Gas Market 2019-2024 ($M)
5.3.2 Prime Power Market 2019-2024 ($M)
5.3.3 Data Centres Market 2019-2024 ($M)
5.3.4 Residential Market 2019-2024 ($M)
5.3.5 Industrial and Commercial Market 2019-2024 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
7.South America MARKET SEGMENTATION Market 2019-2024 ($M)
7.1 By Type Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Gas Engine Market 2019-2024 ($M)
7.1.2 Diesel Engine Market 2019-2024 ($M)
7.1.3 Gas Turbine Market 2019-2024 ($M)
7.1.4 Steam Turbine Market 2019-2024 ($M)
7.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
7.2.1 1 MW5 MW Market 2019-2024 ($M)
7.2.2 5 MW20 MW Market 2019-2024 ($M)
7.2.3 20 MW40 MW Market 2019-2024 ($M)
7.2.4 300kW1 MW Market 2019-2024 ($M)
7.2.5 60kW300kW Market 2019-2024 ($M)
7.2.6 1kW60kW Market 2019-2024 ($M)
7.3 By Application Market 2019-2024 ($M) - Regional Industry Research
7.3.1 Oil Gas Market 2019-2024 ($M)
7.3.2 Prime Power Market 2019-2024 ($M)
7.3.3 Data Centres Market 2019-2024 ($M)
7.3.4 Residential Market 2019-2024 ($M)
7.3.5 Industrial and Commercial Market 2019-2024 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
9.Europe MARKET SEGMENTATION Market 2019-2024 ($M)
9.1 By Type Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Gas Engine Market 2019-2024 ($M)
9.1.2 Diesel Engine Market 2019-2024 ($M)
9.1.3 Gas Turbine Market 2019-2024 ($M)
9.1.4 Steam Turbine Market 2019-2024 ($M)
9.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
9.2.1 1 MW5 MW Market 2019-2024 ($M)
9.2.2 5 MW20 MW Market 2019-2024 ($M)
9.2.3 20 MW40 MW Market 2019-2024 ($M)
9.2.4 300kW1 MW Market 2019-2024 ($M)
9.2.5 60kW300kW Market 2019-2024 ($M)
9.2.6 1kW60kW Market 2019-2024 ($M)
9.3 By Application Market 2019-2024 ($M) - Regional Industry Research
9.3.1 Oil Gas Market 2019-2024 ($M)
9.3.2 Prime Power Market 2019-2024 ($M)
9.3.3 Data Centres Market 2019-2024 ($M)
9.3.4 Residential Market 2019-2024 ($M)
9.3.5 Industrial and Commercial Market 2019-2024 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
11.APAC MARKET SEGMENTATION Market 2019-2024 ($M)
11.1 By Type Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Gas Engine Market 2019-2024 ($M)
11.1.2 Diesel Engine Market 2019-2024 ($M)
11.1.3 Gas Turbine Market 2019-2024 ($M)
11.1.4 Steam Turbine Market 2019-2024 ($M)
11.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
11.2.1 1 MW5 MW Market 2019-2024 ($M)
11.2.2 5 MW20 MW Market 2019-2024 ($M)
11.2.3 20 MW40 MW Market 2019-2024 ($M)
11.2.4 300kW1 MW Market 2019-2024 ($M)
11.2.5 60kW300kW Market 2019-2024 ($M)
11.2.6 1kW60kW Market 2019-2024 ($M)
11.3 By Application Market 2019-2024 ($M) - Regional Industry Research
11.3.1 Oil Gas Market 2019-2024 ($M)
11.3.2 Prime Power Market 2019-2024 ($M)
11.3.3 Data Centres Market 2019-2024 ($M)
11.3.4 Residential Market 2019-2024 ($M)
11.3.5 Industrial and Commercial Market 2019-2024 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
13.MENA MARKET SEGMENTATION Market 2019-2024 ($M)
13.1 By Type Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Gas Engine Market 2019-2024 ($M)
13.1.2 Diesel Engine Market 2019-2024 ($M)
13.1.3 Gas Turbine Market 2019-2024 ($M)
13.1.4 Steam Turbine Market 2019-2024 ($M)
13.2 By Power Range Market 2019-2024 ($M) - Regional Industry Research
13.2.1 1 MW5 MW Market 2019-2024 ($M)
13.2.2 5 MW20 MW Market 2019-2024 ($M)
13.2.3 20 MW40 MW Market 2019-2024 ($M)
13.2.4 300kW1 MW Market 2019-2024 ($M)
13.2.5 60kW300kW Market 2019-2024 ($M)
13.2.6 1kW60kW Market 2019-2024 ($M)
13.3 By Application Market 2019-2024 ($M) - Regional Industry Research
13.3.1 Oil Gas Market 2019-2024 ($M)
13.3.2 Prime Power Market 2019-2024 ($M)
13.3.3 Data Centres Market 2019-2024 ($M)
13.3.4 Residential Market 2019-2024 ($M)
13.3.5 Industrial and Commercial Market 2019-2024 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
LIST OF FIGURES
1.US Alternator Market Revenue, 2019-2024 ($M)2.Canada Alternator Market Revenue, 2019-2024 ($M)
3.Mexico Alternator Market Revenue, 2019-2024 ($M)
4.Brazil Alternator Market Revenue, 2019-2024 ($M)
5.Argentina Alternator Market Revenue, 2019-2024 ($M)
6.Peru Alternator Market Revenue, 2019-2024 ($M)
7.Colombia Alternator Market Revenue, 2019-2024 ($M)
8.Chile Alternator Market Revenue, 2019-2024 ($M)
9.Rest of South America Alternator Market Revenue, 2019-2024 ($M)
10.UK Alternator Market Revenue, 2019-2024 ($M)
11.Germany Alternator Market Revenue, 2019-2024 ($M)
12.France Alternator Market Revenue, 2019-2024 ($M)
13.Italy Alternator Market Revenue, 2019-2024 ($M)
14.Spain Alternator Market Revenue, 2019-2024 ($M)
15.Rest of Europe Alternator Market Revenue, 2019-2024 ($M)
16.China Alternator Market Revenue, 2019-2024 ($M)
17.India Alternator Market Revenue, 2019-2024 ($M)
18.Japan Alternator Market Revenue, 2019-2024 ($M)
19.South Korea Alternator Market Revenue, 2019-2024 ($M)
20.South Africa Alternator Market Revenue, 2019-2024 ($M)
21.North America Alternator By Application
22.South America Alternator By Application
23.Europe Alternator By Application
24.APAC Alternator By Application
25.MENA Alternator By Application