In a recent published report, Kenneth Research has updated the market report for Alternator Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Alternator Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Alternator Market is estimated to reach $29.9 billion by 2024; growing at a CAGR of 5% from 2016 to 2024. Alternator is the workhorse of the power generation industry. They are also known as synchronous generators. They have the ability to convert mechanical energy into electric energy in the form of alternate energy. Electromagnetic induction produces electricity in alternators. DC generators are now being replaced by alternators due to its improved efficiency. Alternators are placed near the anterior part of the engine, which are driven by crankshaft and converts the piston’s movement into circular motion. Increasing demand for mid-sized and luxury cars and high penetration of electronics are the factors propelling the growth of the global alternator market. Increasing investments in construction industry and high adoption of engines and turbines also boosts the growth of the market. Moreover, adoption of alternators among various industries and market expansion would provide growth opportunities. Though, economic instabilities would hamper the adoption is forecast period.
Rotor type voltage range, end-user and geography are the key segments of the global alternator market. Rotor type is segmented into salient pole, smooth cylindrical and others. By voltage range is further segmented into low voltage (0V-1000V), medium voltage (1001V-4160V) and high voltage (4161V-15000V). Furthermore, end-user is segmented into marine, oil & gas, power plant, mining, stand-by power, and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers U.K, Germany, Russia and others. Asia-Pacific covers China, India, Australia and others. Rest of the World (RoW) covers South America, Middle East and Africa.
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Key market players include Lucas Electrical, Robert Bosch GmbH, Motor Corporation of America, Cummins, Inc. Hitachi Automotive, Mitsuba Corporation Denso Corporation, Valeo SA, Hella KGaA Hueck & Co, and Mitsubishi Electric Corporation among others.
The key takeaways from the report:
The report will provide detailed analysis of Alternator Market with respect to major segments such as rotor type, voltage range, and end-user of the market. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities. An exhaustive regional analysis of Alternator market.
Profile of key players of the Alternator market, which include key financials, product & services and new developments.
Scope of Alternator Market:
Rotor type Segments
Salient Pole
Smooth Cylindrical
Others
Voltage Range Segments
Low Voltage (0V-1000V)
Medium Voltage (1001V-4160V)
High Voltage (4161V-15000V)
End-User Segments
Marine
Oil & Gas
Power Plant
Mining
Stand-By Power
Others
Geography Segments
North America
US
Canada
Mexico
Europe
Germany
France
United Kingdom
Spain
Others
Asia-Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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