Product Code: A09824
The global alternators market was valued at $21.1 billion in 2022, and is projected to reach $35.7 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032.
An alternator is an electromechanical device that serves as a crucial component in various electrical systems that convert mechanical energy into electrical energy through the principle of electromagnetic induction. This device plays a central role in generating power for a wide array of applications, ranging from automotive vehicles to industrial machinery and power generation systems. As compared to traditional generators, alternators produce alternating current (AC) which is converted into direct current (DC) for use in charging batteries and powering electronic devices.

The surge in industrialization and infrastructure development has significantly driven the demand for alternators. According to the United Nation Industrial Development Organization (UNIDO), Asia contribution to gross domestic product (GDP) has been growing rapidly in recent decades. As nations across the globe continue to prioritize economic growth and development, the need for reliable power generation and distribution systems has become paramount. Alternators play a crucial role in this landscape by converting mechanical energy into electrical energy, making them indispensable components in various industrial and infrastructure projects. All these factors drive the demand for alternators market during the forecast period.
However, the integration of advanced vehicle systems presents a significant challenge that hampers the growth of alternators in the automotive sector. As vehicles become more technologically advanced, incorporating features such as electric propulsion, regenerative braking, and sophisticated onboard electronics, the traditional alternator faces limitations in meeting the evolving power requirements and compatibility demands of modern vehicles. Furthermore, the proliferation of advanced onboard electronics and electrical accessories in modern vehicles adds to the integration challenges faced by alternators. All these factors hamper the alternators market growth.
Advancements in materials science have enabled the use of lightweight and durable materials in alternators that enhance durability, reliability, and longevity. The adoption of advanced materials such as high-strength alloys, composite materials, and heat-resistant coatings has resulted in alternators that are more robust and resistant to wear and tear, reducing maintenance requirements and downtime for users across various industries. Furthermore, advancements in digital control systems and power electronics have facilitated the integration of alternators with advanced power management systems, microgrid solutions, and renewable energy sources. This enables seamless integration with grid-tied and off-grid applications, allowing alternators to operate in parallel with solar panels, wind turbines, and energy storage systems, enhancing overall system reliability, flexibility, and resilience. All these factors are anticipated to offer new growth opportunities for the alternators market during the forecast period.
The alternators market is segmented on the basis of type, voltage, phase, end-use industry, and region. On the basis of type, the market is divided into brushed alternators, brushless alternators, and permanent magnet alternators. Brushed alternators segment accounted for more than two-fifths of global alternators market share in 2022 and is expected to maintain its dominance during the forecast period. Advancements in electronic control systems and power electronics have enhanced the performance and functionality of brushed alternators. The integration of modern control algorithms and digital signal processing techniques allows for better regulation of output voltage and current, as well as improved fault detection and protection mechanisms. These advancements result in more efficient and reliable operation of brushed alternators that makes them suitable for diverse applications ranging from automotive systems to renewable energy generation.
On the basis of voltage market is bifurcated into medium and high. The medium segment accounted for more than more than two-thirds of global alternators market share in 2022 and is expected to maintain its dominance during the forecast period. The increase in emphasis on renewable energy sources contributes to the growth of medium voltage alternators. With rise in concerns about environmental sustainability and the transition towards cleaner energy sources, there is increase in demand for alternators capable of integrating with renewable energy systems such as wind turbines, hydroelectric plants, and solar farms.
On the basis of phase market is divided into three phase alternator, two phase alternator, and single phase alternator. Three phase alternator segment accounted for half of global alternators market share in 2022 and is expected to maintain its dominance during the forecast period. Environmental considerations and regulations have become significant drivers for the development of more efficient and environmentally friendly three-phase alternators. Energy efficiency standards, emissions regulations, and sustainability goals have prompted manufacturers to design alternators that minimize energy losses, reduce environmental impact, and comply with stringent regulations.
On the basis of end-use industry, the market is segmented into oil & gas, marine, construction, automotive, and others. The automotive segment accounted for less than one-third of global alternators market share in 2022 and is expected to maintain its dominance during the forecast period. The advancement of automotive technology and the integration of sophisticated electrical systems in modern vehicles have driven the demand for more powerful and efficient alternators. These alternators meet higher electrical power requirements to support features such as advanced infotainment systems, safety features, and driver-assistance systems.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for more than two-fifths of the global alternators market share in 2022 and is expected to maintain its dominance during the forecast period. Advancements in technology have led to the development of more efficient and reliable alternators that makes them an attractive choice for a wide range of applications. Innovations in materials, design, and manufacturing processes have resulted in alternators that offer better performance, durability, and energy efficiency.
Key players in the alternators market include Bosch Limited, Cummins Inc., Denso Corporation, Hella GmbH & Co. KGaA, Hitachi Astemo, Ltd., Lucas Automotive Aftermarket, Mitsubishi Electric Corporation, Prestolite Electric Incorporated, Remy International, and Valeo SA. Apart from these major players, there are other key players in the alternators market. These include Continental AG, Dixie Electric Ltd, Elstock, ISKRA, Lucas-TVS Limited, MAHLE GmbH, Mando Corporation, and Nidec Motor Corporation.
Key findings of the study
- On the basis of type, the brushless alternators segment is anticipated to grow at the fastest CAGR of 5.9% during the forecast period.
- By voltage, the medium segment is anticipated to grow at the fastest CAGR during the forecast period.
- On the basis of phase, the three phase alternator segment is anticipated to grow at the fastest CAGR of 5.8% during the forecast period.
- By end-use industry, the automotive segment is anticipated to grow at the fastest CAGR during the forecast period.
- Region-wise, Asia-Pacific has the highest share in 2022 in terms of revenue.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the alternators market analysis from 2022 to 2032 to identify the prevailing alternators market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the alternators market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global alternators market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- End user preferences and pain points
- Industry life cycle assessment, by region
- Product Benchmarking / Product specification and applications
- Product Life Cycles
- Technology Trend Analysis
- Distributor margin Analysis
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Phase
- Three Phase Alternator
- Two Phase Alternator
- Single Phase Alternator
By Type
- Brushed Alternators
- Brushless Alternators
- Permanent Magnet Alternators
By Voltage
By End-Use Industry
- Automotive
- Power Generation
- Construction
- Oil and Gas
- Others
By Region
- North America
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players:
- Bosch Limited
- Cummins Inc.
- DENSO CORPORATION
- HELLA GmbH & Co. KGaA
- Hitachi Astemo, Ltd.
- Lucas Automotive Aftermarket
- Mitsubishi Electric Corporation
- Prestolite Electric Incorporated.
- Remy International
- Valeo SA
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. Value Chain Analysis
- 3.6. Key Regulation Analysis
CHAPTER 4: ALTERNATORS MARKET, BY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Brushed Alternators
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Brushless Alternators
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Permanent Magnet Alternators
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
CHAPTER 5: ALTERNATORS MARKET, BY VOLTAGE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Medium
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. High
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: ALTERNATORS MARKET, BY PHASE
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Three Phase Alternator
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Two Phase Alternator
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Single Phase Alternator
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: ALTERNATORS MARKET, BY END-USE INDUSTRY
- 7.1. Overview
- 7.1.1. Market size and forecast
- 7.2. Automotive
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
- 7.3. Power Generation
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country
- 7.4. Construction
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by region
- 7.4.3. Market share analysis by country
- 7.5. Oil and Gas
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by region
- 7.5.3. Market share analysis by country
- 7.6. Others
- 7.6.1. Key market trends, growth factors and opportunities
- 7.6.2. Market size and forecast, by region
- 7.6.3. Market share analysis by country
CHAPTER 8: ALTERNATORS MARKET, BY REGION
- 8.1. Overview
- 8.1.1. Market size and forecast By Region
- 8.2. North America
- 8.2.1. Key market trends, growth factors and opportunities
- 8.2.2. Market size and forecast, by Type
- 8.2.3. Market size and forecast, by Voltage
- 8.2.4. Market size and forecast, by Phase
- 8.2.5. Market size and forecast, by End-Use Industry
- 8.2.6. Market size and forecast, by country
- 8.2.6.1. U.S.
- 8.2.6.1.1. Market size and forecast, by Type
- 8.2.6.1.2. Market size and forecast, by Voltage
- 8.2.6.1.3. Market size and forecast, by Phase
- 8.2.6.1.4. Market size and forecast, by End-Use Industry
- 8.2.6.2. Canada
- 8.2.6.2.1. Market size and forecast, by Type
- 8.2.6.2.2. Market size and forecast, by Voltage
- 8.2.6.2.3. Market size and forecast, by Phase
- 8.2.6.2.4. Market size and forecast, by End-Use Industry
- 8.2.6.3. Mexico
- 8.2.6.3.1. Market size and forecast, by Type
- 8.2.6.3.2. Market size and forecast, by Voltage
- 8.2.6.3.3. Market size and forecast, by Phase
- 8.2.6.3.4. Market size and forecast, by End-Use Industry
- 8.3. Europe
- 8.3.1. Key market trends, growth factors and opportunities
- 8.3.2. Market size and forecast, by Type
- 8.3.3. Market size and forecast, by Voltage
- 8.3.4. Market size and forecast, by Phase
- 8.3.5. Market size and forecast, by End-Use Industry
- 8.3.6. Market size and forecast, by country
- 8.3.6.1. Germany
- 8.3.6.1.1. Market size and forecast, by Type
- 8.3.6.1.2. Market size and forecast, by Voltage
- 8.3.6.1.3. Market size and forecast, by Phase
- 8.3.6.1.4. Market size and forecast, by End-Use Industry
- 8.3.6.2. France
- 8.3.6.2.1. Market size and forecast, by Type
- 8.3.6.2.2. Market size and forecast, by Voltage
- 8.3.6.2.3. Market size and forecast, by Phase
- 8.3.6.2.4. Market size and forecast, by End-Use Industry
- 8.3.6.3. Italy
- 8.3.6.3.1. Market size and forecast, by Type
- 8.3.6.3.2. Market size and forecast, by Voltage
- 8.3.6.3.3. Market size and forecast, by Phase
- 8.3.6.3.4. Market size and forecast, by End-Use Industry
- 8.3.6.4. Spain
- 8.3.6.4.1. Market size and forecast, by Type
- 8.3.6.4.2. Market size and forecast, by Voltage
- 8.3.6.4.3. Market size and forecast, by Phase
- 8.3.6.4.4. Market size and forecast, by End-Use Industry
- 8.3.6.5. UK
- 8.3.6.5.1. Market size and forecast, by Type
- 8.3.6.5.2. Market size and forecast, by Voltage
- 8.3.6.5.3. Market size and forecast, by Phase
- 8.3.6.5.4. Market size and forecast, by End-Use Industry
- 8.3.6.6. Rest of Europe
- 8.3.6.6.1. Market size and forecast, by Type
- 8.3.6.6.2. Market size and forecast, by Voltage
- 8.3.6.6.3. Market size and forecast, by Phase
- 8.3.6.6.4. Market size and forecast, by End-Use Industry
- 8.4. Asia-Pacific
- 8.4.1. Key market trends, growth factors and opportunities
- 8.4.2. Market size and forecast, by Type
- 8.4.3. Market size and forecast, by Voltage
- 8.4.4. Market size and forecast, by Phase
- 8.4.5. Market size and forecast, by End-Use Industry
- 8.4.6. Market size and forecast, by country
- 8.4.6.1. China
- 8.4.6.1.1. Market size and forecast, by Type
- 8.4.6.1.2. Market size and forecast, by Voltage
- 8.4.6.1.3. Market size and forecast, by Phase
- 8.4.6.1.4. Market size and forecast, by End-Use Industry
- 8.4.6.2. India
- 8.4.6.2.1. Market size and forecast, by Type
- 8.4.6.2.2. Market size and forecast, by Voltage
- 8.4.6.2.3. Market size and forecast, by Phase
- 8.4.6.2.4. Market size and forecast, by End-Use Industry
- 8.4.6.3. Japan
- 8.4.6.3.1. Market size and forecast, by Type
- 8.4.6.3.2. Market size and forecast, by Voltage
- 8.4.6.3.3. Market size and forecast, by Phase
- 8.4.6.3.4. Market size and forecast, by End-Use Industry
- 8.4.6.4. South Korea
- 8.4.6.4.1. Market size and forecast, by Type
- 8.4.6.4.2. Market size and forecast, by Voltage
- 8.4.6.4.3. Market size and forecast, by Phase
- 8.4.6.4.4. Market size and forecast, by End-Use Industry
- 8.4.6.5. Australia
- 8.4.6.5.1. Market size and forecast, by Type
- 8.4.6.5.2. Market size and forecast, by Voltage
- 8.4.6.5.3. Market size and forecast, by Phase
- 8.4.6.5.4. Market size and forecast, by End-Use Industry
- 8.4.6.6. Rest of Asia-Pacific
- 8.4.6.6.1. Market size and forecast, by Type
- 8.4.6.6.2. Market size and forecast, by Voltage
- 8.4.6.6.3. Market size and forecast, by Phase
- 8.4.6.6.4. Market size and forecast, by End-Use Industry
- 8.5. LAMEA
- 8.5.1. Key market trends, growth factors and opportunities
- 8.5.2. Market size and forecast, by Type
- 8.5.3. Market size and forecast, by Voltage
- 8.5.4. Market size and forecast, by Phase
- 8.5.5. Market size and forecast, by End-Use Industry
- 8.5.6. Market size and forecast, by country
- 8.5.6.1. Brazil
- 8.5.6.1.1. Market size and forecast, by Type
- 8.5.6.1.2. Market size and forecast, by Voltage
- 8.5.6.1.3. Market size and forecast, by Phase
- 8.5.6.1.4. Market size and forecast, by End-Use Industry
- 8.5.6.2. South Africa
- 8.5.6.2.1. Market size and forecast, by Type
- 8.5.6.2.2. Market size and forecast, by Voltage
- 8.5.6.2.3. Market size and forecast, by Phase
- 8.5.6.2.4. Market size and forecast, by End-Use Industry
- 8.5.6.3. Saudi Arabia
- 8.5.6.3.1. Market size and forecast, by Type
- 8.5.6.3.2. Market size and forecast, by Voltage
- 8.5.6.3.3. Market size and forecast, by Phase
- 8.5.6.3.4. Market size and forecast, by End-Use Industry
- 8.5.6.4. Rest of LAMEA
- 8.5.6.4.1. Market size and forecast, by Type
- 8.5.6.4.2. Market size and forecast, by Voltage
- 8.5.6.4.3. Market size and forecast, by Phase
- 8.5.6.4.4. Market size and forecast, by End-Use Industry
CHAPTER 9: COMPETITIVE LANDSCAPE
- 9.1. Introduction
- 9.2. Top winning strategies
- 9.3. Product mapping of top 10 player
- 9.4. Competitive dashboard
- 9.5. Competitive heatmap
- 9.6. Top player positioning, 2022
CHAPTER 10: COMPANY PROFILES
- 10.1. Bosch Limited
- 10.1.1. Company overview
- 10.1.2. Key executives
- 10.1.3. Company snapshot
- 10.1.4. Operating business segments
- 10.1.5. Product portfolio
- 10.1.6. Business performance
- 10.1.7. Key strategic moves and developments
- 10.2. Cummins Inc.
- 10.2.1. Company overview
- 10.2.2. Key executives
- 10.2.3. Company snapshot
- 10.2.4. Operating business segments
- 10.2.5. Product portfolio
- 10.2.6. Business performance
- 10.2.7. Key strategic moves and developments
- 10.3. DENSO CORPORATION
- 10.3.1. Company overview
- 10.3.2. Key executives
- 10.3.3. Company snapshot
- 10.3.4. Operating business segments
- 10.3.5. Product portfolio
- 10.3.6. Business performance
- 10.3.7. Key strategic moves and developments
- 10.4. HELLA GmbH & Co. KGaA
- 10.4.1. Company overview
- 10.4.2. Key executives
- 10.4.3. Company snapshot
- 10.4.4. Operating business segments
- 10.4.5. Product portfolio
- 10.4.6. Business performance
- 10.4.7. Key strategic moves and developments
- 10.5. Hitachi Astemo, Ltd.
- 10.5.1. Company overview
- 10.5.2. Key executives
- 10.5.3. Company snapshot
- 10.5.4. Operating business segments
- 10.5.5. Product portfolio
- 10.5.6. Business performance
- 10.5.7. Key strategic moves and developments
- 10.6. Lucas Automotive Aftermarket
- 10.6.1. Company overview
- 10.6.2. Key executives
- 10.6.3. Company snapshot
- 10.6.4. Operating business segments
- 10.6.5. Product portfolio
- 10.6.6. Business performance
- 10.6.7. Key strategic moves and developments
- 10.7. Mitsubishi Electric Corporation
- 10.7.1. Company overview
- 10.7.2. Key executives
- 10.7.3. Company snapshot
- 10.7.4. Operating business segments
- 10.7.5. Product portfolio
- 10.7.6. Business performance
- 10.7.7. Key strategic moves and developments
- 10.8. Prestolite Electric Incorporated.
- 10.8.1. Company overview
- 10.8.2. Key executives
- 10.8.3. Company snapshot
- 10.8.4. Operating business segments
- 10.8.5. Product portfolio
- 10.8.6. Business performance
- 10.8.7. Key strategic moves and developments
- 10.9. Remy International
- 10.9.1. Company overview
- 10.9.2. Key executives
- 10.9.3. Company snapshot
- 10.9.4. Operating business segments
- 10.9.5. Product portfolio
- 10.9.6. Business performance
- 10.9.7. Key strategic moves and developments
- 10.10. Valeo SA
- 10.10.1. Company overview
- 10.10.2. Key executives
- 10.10.3. Company snapshot
- 10.10.4. Operating business segments
- 10.10.5. Product portfolio
- 10.10.6. Business performance
- 10.10.7. Key strategic moves and developments