“Global Industrial Low-voltage Alternator Market to reach a market value of USD 2.5 Billion by 2030 growing at a CAGR of 8.5%”
The Global Industrial Low-voltage Alternator Market size is expected to reach $2.5 billion by 2030, rising at a market growth of 8.5% CAGR during the forecast period.
In recent years, North America, particularly the United States and Canada, has witnessed significant industrial expansion, infrastructure development, and investment. Therefore, the North America segment captured $480.83 million revenue in the market in 2022. Growth in manufacturing, construction, mining, oil and gas, renewable energy, and telecommunications has spurred the demand for industrial machinery and equipment, including low-voltage alternators, to power essential operations and facilities.
Industrialization and infrastructure development projects are pivotal in driving the demand for industrial machinery and equipment, with low-voltage alternators being a critical component. As emerging economies undergo industrialization, there is a significant increase in the establishment of manufacturing facilities across various sectors such as automotive, electronics, consumer goods, and heavy industries. Therefore, these aspects can drive the expansion of the market.
Additionally, data centers, telecommunications networks, and other critical facilities require uninterrupted power supply to prevent data loss, service disruptions, and financial losses. UPS systems utilize low-voltage alternators to seamlessly transition to battery backup during power outages, ensuring the continuous operation of sensitive equipment and systems. Therefore, these factors can help in the growth of the market.
However, economic downturns or slowdowns, characterized by declining GDP growth rates, can reduce investment confidence and capital expenditure in industrial sectors. Reduced investments in industrial projects and infrastructure development negatively impact the demand for low-voltage alternators as businesses delay or scale back expansion plans to mitigate financial risks. Thus, these aspects can hamper the growth of the market.
On the basis of application, the market is divided into electricity, marine, telecommunication, and others. In 2022, the telecommunication segment witnessed 29.7% revenue share in the market. Telecommunications networks, including cellular networks, fiber optic networks, and satellite communications systems, rely on reliable power sources to support uninterrupted connectivity and communication services.
Based on type, the market is bifurcated into single phase industrial low-voltage alternator and three phase industrial low-voltage alternator. In 2022, the single phase industrial low-voltage alternator segment 24.2% significant revenue share in the market. Single-phase industrial low-voltage alternators are well-suited for powering equipment and facilities in remote or off-grid locations, such as agricultural pumps, small workshops, construction sites, and rural electrification projects, where three-phase power may not be readily available or necessary.
Free Valuable Insights: Global Industrial Low-voltage Alternator Market size to reach USD 2.5 Billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe segment acquired 29.9% revenue share in the market. Europe's industrial sector is undergoing revitalization and modernization efforts to enhance competitiveness, productivity, and sustainability.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.3 Billion |
| Market size forecast in 2030 | USD 2.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 8.5% from 2023 to 2030 |
| Number of Pages | 198 |
| Number of Tables | 260 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Cummins, Inc., Nidec Corporation, Pedrollo Group Srl, ENGGA (Yangjiang) Electric Co., Ltd., ABB Group, DINGOL Pwoer Generation, Taiyo Electric Co., Ltd., Evotec SE, Shangyan Power Technology Jiangsu Co., Ltd, Regal Rexnord Corporation |
By Type
By Application
By Geography
The Market size is projected to reach USD $2.5 billion by 2030.
Expansion of renewable energy infrastructure are driving the Market in coming years, however, Economic uncertainty and market volatility restraints the growth of the Market.
Cummins, Inc., Nidec Corporation, Pedrollo Group Srl, ENGGA (Yangjiang) Electric Co., Ltd., ABB Group, DINGOL Pwoer Generation, Taiyo Electric Co., Ltd., Evotec SE, Shangyan Power Technology Jiangsu Co., Ltd, Regal Rexnord Corporation
The expected CAGR of this Market is 8.5% from 2023 to 2030.
The Three Phase Industrial Low-voltage Alternator segment is generating highest revenue in the Market by Type in 2022; thereby, achieving a market value of $1.9 Million by 2030.
The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $895.3 Million by 2030.
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