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Automotive Alternator Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4515758
  • Report
  • 70 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Denso Corporation
  • Hella KGaA Hueck & Co.
  • Hitachi Automotive
  • Lucas Electrical
  • Mitsubishi Electric
  • Remy International
  • MORE
Market Overview

The Automotive Alternator Market is expected to register a CAGR of 6.2%, during the forecast period, 2019-2024.

The growing demand for hybrid powertrain systems in vehicles and stringent emission norms are the major factors propelling the automotive alternator market during the forecast period. As the technology and stringent emission are growing, Original Equipment Manufacturers (OEMs) are likely to shift more toward electric vehicles, which can slightly restrain the market growth in the near future.

The Asia-Pacific region is expected to continue to capture a major share in the market during the forecast period, owing to the increasing vehicle sales, majorly from China, Japan, and India. Major vehicle manufacturers have their manufacturing units in this region to capture high demand in the market.

Scope of the Report

The global automotive alternator market has been segmented by powertrain type, vehicle type, and geography.

Key Market Trends

Increase in Sales of Passenger Cars

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. But, 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, it 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 automotive parts industry.

Asia Pacific and Europe to Lead the Alternator Market

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 alternator market in 2017 and 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 is expected to be the fastest growing market in the production of automotive by 2020. With the South Asian market providing the low cost of labor, its set to become the major automobile hub in the near future. The European automobile industry has invested about USD 46.3 billion in research and development activities. With the modernization of car-related appliances, there has been a rise in attaching electronic devices in vehicles and the increasing requirement of power in cars, which has led to an increase in the demand for alternators.

Competitive Landscape

Some of the major manufacturers in the automotive alternator market, include Robert Bosch GmbH, Denso Corporation, Hitachi, Valeo, Lucas Electrical, and Hella amongst others.

During May 2019, Denso, the second largest mobility supplier has developed a high-efficiency diode for alternators for gasoline and diesel powered vehicles with the semiconductor supplier Hitachi Power Semiconductor Device, Ltd. The production of these diodes for vehicles will start in 2019 for vehicles in Europe.

In 2015, Mitsubishi Electric invested approximately 4 billion yen (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.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Denso Corporation
  • Hella KGaA Hueck & Co.
  • Hitachi Automotive
  • Lucas Electrical
  • Mitsubishi Electric
  • Remy International
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Industry Attractiveness - Porter's Five Force 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
4.4 Market Drivers
4.5 Market Restraints

5 MARKET SEGMENTATION
5.1 By Powertrain Type
5.1.1 IC Engine Vehicles
5.1.2 Hybrid and Electric Vehicles
5.2 By Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Asia Pacific
5.3.2.1 China
5.3.2.2 Japan
5.3.2.3 India
5.3.2.4 South Korea
5.3.2.5 Rest of Asia-Pacific
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 Saudi Arabia
5.3.4.3 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 KGaA Hueck & Co.
6.2.4 Hitachi Automotive
6.2.5 Lucas Electrical
6.2.6 Mitsubishi Electric
6.2.7 Remy International
6.2.8 Robert Bosch GmbH
6.2.9 Valeo S.A.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Control Power Technology (Federal Mogul)
  • Denso Corporation
  • Hella KGaA Hueck & Co.
  • Hitachi Automotive
  • Lucas Electrical
  • Mitsubishi Electric
  • Remy International
  • Robert Bosch GmbH
  • Valeo S.A.
Note: Product cover images may vary from those shown
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