Global Alternators Market

Global Alternators Market: Strengthening Emerging Economies to Offer Tremendous Scope for
Growth, predicts TMR
Transparency Market Research states that the top three players in the global alternators
market held a share of 20% in the overall market in 2015. Emerson Electric, Co., Denso
Corporation, and Valeo SA have had a noticeable share in the market due to their strong
foothold in the automotive industry, which is the largest consumer of alternators. “Companies
must focus on the construction in emerging economies of the Middle East and Africa during the
forecast period to gain a competitive edge over others,” states the lead author of this research
report. Focus on research and development is also expected to remain the mainstay of the
majority of the players in the market to deliver product innovation to consumers.
According to the research report, the global alternators market is expected to be worth US$28.9
bn by the end of 2024 as compared to US$20.3 bn in 2015. During the forecast years of 2016
and 2024, the global alternators market is expected to progress at a CAGR of 4.0%.
Asia Pacific Promises Lucrative Growth Opportunities to Global Market
On the basis of voltage range, the global market is segmented into low voltage, medium voltage,
and high voltage. Of these, the low voltage alternator segment is expected to remain the leading
segment due to its soaring demand in the automotive sector. Analysts anticipate that the low
voltage segment is expected to progress at a CAGR of 3.7% during the forecast period. The
growing demand for back-up power in several emerging economies is also expected to fuel the
demand for low voltage alternators during the forecast years.
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Geographically, this market is segmented into Europe, North America, Asia Pacific, South
America, and the Middle East and Africa. Of these, North America held a dominant share in the
global market and is projected to surge at a CAGR of 3.6% during the forecast period, in terms of
revenue. The report indicates that Asia Pacific will also be an emerging opportunity for the
overall market in the coming years due to the strengthening economies in the region.
Automotive Sector Fuels Adoption of Alternators
The global alternators market is expected to receive a massive impetus from the booming
automotive sector in the emerging economies of China, South Africa, India, Mexico, Indonesia,
and Taiwan. The increasing production of vehicles in these countries is likely to offer several
lucrative opportunities to the alternators market during the forecast period. The increasing
automotive sales are also expected to complement the uptake of alternators in the near future.
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The insatiable demand for power across the globe is yet another reason for the growing
adoption of alternators in various industrial sectors. The demand for power is expected to rise as
the investments are slated to grow in construction and infrastructural sectors. Furthermore,
rising expenditure in the utility sector is also expected to have a positive impact on the global
alternators market.
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Global Alternators Market