According to a new report, published by KBV research, The Global Alternators Market size is expected to reach $31.7 billion by 2031, rising at a market growth of 5.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 23,846.4 thousand units, experiencing a growth of 17.4% (2020-2023).
Rapid urbanization, infrastructure development projects, and investments in industrial sectors fuel the need for reliable power generation and distribution systems, driving the demand for alternators. Industries such as telecommunications, data centers, marine, and defense require alternators that can withstand harsh operating conditions and provide continuous power supply under demanding environments.
The Medium segment is leading the Global Alternators Market by Voltage in 2023, thereby achieving a market value of $20.5 billion by 2031. Medium voltage alternators are utilized in utility-scale power generation systems, including conventional power plants, cogeneration facilities, and distributed generation projects. They produce electrical power at medium voltage levels, which is then stepped up or down using transformers for transmission and distribution.
The single-phase alternator segment is poised to have a CAGR of 5.9% during (2024-2031). Single-phase alternators are popular among DIY enthusiasts, hobbyists, and small-scale projects requiring electrical power generation. They are used in DIY wind turbines, micro-hydro generators, and small-scale renewable energy systems for educational purposes, experimentation, and self-sufficiency initiatives.
The Automotive segment is registering a strong potential in the Global Alternators Market by End-Use Industry in 2023 thereby, achieving a market value of $9.8 billion by 2031. Modern vehicles have many advanced features and electronic systems, including infotainment systems, driver assistance systems, advanced safety features, and connectivity solutions. These features require electrical power, which is supplied by alternators. As consumer demand for advanced vehicle features continues to rise, so does the demand for alternators with higher power output and efficiency.
The Brushless Alternators segment is anticipated to have a CAGR of 5.6% during (2024 - 2031). Brushless alternators typically have a higher power-to-weight ratio compared to brushed alternators. Their compact and lightweight form increases power output in a smaller footprint, making them ideal for applications where space and weight are critical, like the automotive, aerospace, and marine industries. Brushless alternators can be integrated with smart technologies such as digital controllers, sensors, and communication interfaces.
Full Report: https://www.kbvresearch.com/alternators-market/
The Asia Pacific region dominated the Global Alternators Market by Region in 2023 thereby, achieving a market value of $11.9 billion by 2031, growing at a CAGR of 5.6 % during the forecast period. The North America region would experience a CAGR of 4.6% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 4.8% during (2024 - 2031).
By Voltage (Volume, Thousand Units, USD Billion, 2020-2031)
By Phase (Volume, Thousand Units, USD Billion, 2020-2031)
By End-Use Industry (Volume, Thousand Units, USD Billion, 2020-2031)
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
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