Alternators Market Outlook – 2027

The global alternators market is experiencing a significant growth, and is expected to grow considerably in next few years. Alternators are generators/devices that convert mechanical energy to electrical energy as it uses Faraday’s law of electromagnetic induction in which current is induced in a conductor when there is relative motion and the conductor is surrounded by magnetic field. Alternators majorly use rotating magnetic fields with stationery armature. If a particular alternator uses permanent magnet for its magnetic field, then it is called a magneto. Hence, alternators find its applications in marine, automotive, oil & gas, power plants and such other sectors. Innovations in these industrial applications paves way for the alternators market.

The global alternators market is segmented on the basis of voltage range, rotor type, end users and region. Based on voltage range, the market is divided into low voltage (0v – 1,000v), medium voltage (1,000v – 4,160v), and high voltage (4,161v – 15,000v). In terms of rotor type, the market is categorized into salient pole, smooth cylindrical, and others. On the basis of end users the market is divided into mining, marine, power plant, oil & gas, stand-by-power, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global alternators industry include Denso Corporation, Hitachi Automotive, Robert Bosch GmbH, Valeo S.A, Lucas Electrical, Motor Corporation of America, Mitsubishi Corporation, Control power Technology, Hella KgaA Heuck & Co., Mitsuba Corporation, and Others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global alternators market.

Market Scope and Structure Analysis

COVID-19 Scenario Analysis

• Global alternators market forecast has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have significant led to decline in demand for alternators. 
• Global factories have struggled to manufacture and integrate new systems as workers have stayed in their homes, which have threatened the global supply chains.
• The market would be less impacted than other markets for non-essential goods and services as these systems are essential part of automation. Moreover, the world would be shifting more toward automation so that no other pandemic can disrupt production.
• This COVID-19 crisis is expected to provide opportunities for companies to invest, implement, and research in technologies, which involve less human touch. For instance, combination of AI and automation.
• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase as various growing industries

Top Impacting Factors

As the consumption of alternating current in different sectors is on the rise, the demand for alternators is also increasing. Major drivers for growth of alternators include rise in investment in grid infrastructure for enhancing power, increase in demand for turbines and engines due to rise in investments in construction industry, and growth in demand for power from both conventional and non-conventional sources.

New Product Launches to Flourish the Alternators Market

Expansion of the LSA 44.3 and TAL 044 product lines was announced by Leroy-Somer in 2019. This alternator reached 200 kVA in power with improved performance. The new LSA 44.3 VL13 and VL14 provide efficiency of 93.4% and 93% at 0.8 PF respectively which is higher than the previous version LSA 46.3 S2 and S3 with efficiency 91.9% and 92.5% respectively.

As these alternator series is suitable for all types of power generation applications and provide high performance, hence these provide new opportunities in the market for manufacturers.

Surge in Use in Oil & Gas and Automotive Applications 

Alternators required for oil & gas projects are in the 500kW to 25MW range. Alternators are generally used in drilling rigs, drilling operations, providing power & platform propulsion in offshore applications. Alternators performance can be affected by searching or extracting oil in extreme conditions. Hence, alternators related to specific oil & gas industries have been designed. Thus, leading to surge in demand for alternators in this sector. Moreover, owing to growth of the automotive sector in developing countries, alternators demand for this sector will gradually increase, thereby leading to the market growth.

Key Segments Covered

Key Benefits of the Report

• This study presents the analytical depiction of the global alternators industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global alternators market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global alternators market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global alternators market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Alternators Market Research Report

• Who are the leading market players active in the alternators market size?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the alternators market trends?
• What are the projections for the future that would help in taking further strategic steps?