Market Size of Alternator Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Alternator Market Analysis
The alternator market is expected to register a CAGR of over 5% over the forecast period (2021 - 2026). The demand for the alternator is increasing owing to the growing consumption of alternating current in different sectors, such as oil & gas, industrial manufacturing, and power, among others.
- Growing investment in grid infrastructure across emerging markets is boosting the market's growth positively. For instance, China announced to spend at least 2 trillion yuan (USD 315 billion) to enhance its power grid infrastructure over the 2015-2020 period.
- Moreover, rising demand for turbines and engine and increasing investment in the construction industry are also expected to augment the growth of the market. According to the Construction Industry Federation report, USD 26 billion was invested in building and construction during the year 2018, up 20% on the previous year.
- Furthermore, growing demand for power, from both conventional and non-conventional sources, has been fueling the application of alternators in the power generation sector.
