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The Automotive Alternator Market is segmented by Powertrain Type (IC Engine Vehicles and Hybrid and Electric Vehicles), Vehicle Type (Passenger Cars and Commercial Vehicles), and Geography.
Fastest Growing Market:
Greater Than 6 %
The automotive alternator market is expected to register a CAGR of over 6%, during the forecast period, 2020 - 2025.
The automotive alternator market is segmented by powertrain type, vehicle type, and geography.
|IC Engine Vehicles|
|Hybrid and Electric Vehicles|
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The passenger cars segment has shown a considerable rise in sales, particularly in the developing countries. Rising stringency of vehicular emissions regulations and fuel economy standards are the major factors driving the demand for the direct injected engines.
Additionally, an increase in the demand for SUVs and trucks in the developing countries is boosting the automotive alternator market.
At the global level, the passenger car sales have been continuously increasing at an average growth rate of 4.59%, during 2010-2017. However, in 2017, the passenger car sales have increased to only 1.93%, with 70,849,466 units sold in 2017 from its previous year, compared to the 4.79% growth rate from 2015-2016, with 69,506,882 units sold in 2016.
The lower growth rate in 2017, compared to 2016, was due to the decline in passenger car sales in the NAFTA region, and countries, like the United Kingdom and Switzerland, and slow growth in China. The ongoing trade war between the United States, Europe, and China has resulted in the decline of passenger car sales.
The US government is planning to create automotive jobs in the country. Additionally, the government has currently imposed a 2.5% tariff on EU passenger car imports and has declared that the tariff would go up to 20%, if they fail to produce cars in the United States, supporting the growth of the automotive parts industry.
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The automotive alternator market is driven by the increasing global demand for passenger cars and commercial vehicles. Asia is estimated to have the highest market share in the alternator market in 2017 and it is expected to continue at the same pace till the end of 2023 and much beyond. Countries, such as India, China, and South Korea, have emerged as the major automotive manufacturing hubs, sourcing components to western automakers.
Asia is an opportunistic region for commercial vehicle manufacturers. The automobile industry in India is developing, and it is expected to be the fastest growing market in the production of automotive by 2020. With the South Asian market providing the low-cost labor, it is set to become the major automobile hub in the near future. The European automobile industry has invested about USD 46.3 billion in R&D activities. With the modernization of car-related appliances, there has been a rise in deploying electronic devices in vehicles and increase in requirement of power in cars. Thus, this has led to an increase in the demand for alternators.
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Some of the major manufacturers in the automotive alternator market, include Robert Bosch GmbH, DENSO Corporation, Hitachi, Ltd., Valeo, Mitsubhishi Electric Corporation, and HELLA GmbH & Co., among others.
During May 2019, Denso, the second-largest mobility supplier, developed a high-efficiency diode for alternators of gasoline- and diesel-powered vehicles, along with the semiconductor supplier Hitachi Power Semiconductor Device Ltd. The production of these diodes for vehicles may start in 2019.
In 2015, Mitsubishi Electric invested approximately JPY 4 billion (33 million USD) in its subsidiary Mitsubishi Electric Automotive America Inc. (MEAA), to expand and construct new facilities for the increased production of high-efficiency alternators. Mitsubishi Electric Automotive America Inc. (MEAA) began producing high-efficiency alternators at its plant in Mason, Ohio.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Powertrain Type
5.1.1 IC Engine Vehicles
5.1.2 Hybrid and Electric Vehicles
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 Rest of the World
18.104.22.168 Saudi Arabia
22.214.171.124 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Control Power Technology (Federal Mogul)
6.2.2 DENSO Corporation
6.2.3 HELLA GmbH & Co.
6.2.4 Hitachi, Ltd.
6.2.5 Lucas Electrical (ELTA Automotive)
6.2.6 Mitsubishi Electric Corporation
6.2.7 REMY INTERNATIONAL S.A.
6.2.8 Robert Bosch GmbH
6.2.9 Valeo SA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS