The global automotive alternator market is expected to post a CAGR of over 3% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global automotive alternator market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of this market is the rising quantity of electronic content within modern automobiles. Vehicle manufacturers are determined to develop highly efficient and futuristic vehicle models that feature advanced technologies to maintain a competitive edge over the product offerings of other competitors. The increasing quantum of electronic content is expected to drive the growth of the automotive alternator market in terms of technological advances. Automotive systems experiencing radical changes are the vehicle infotainment systems, automotive driver assist systems, automotive telematics, safety features, and various drivetrain and powertrain systems. This, in turn, is driving the replacement of mechanical systems with advanced electronic systems consisting of sensors, cameras, transistors, integrated chips, and wiring harness within the vehicle.
This market research report on the global automotive alternator market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of smart alternators as one of the key emerging trends in the global automotive alternator market:
Global automotive alternator market: Emergence of smart alternators
Changing power requirements of modern vehicles are stimulating vehicle makers to adopt a type of alternator that can adjust its output based on the operating condition of the vehicle. The development of smart alternators increases the scope of converting mechanical energy into electrical energy, thereby decreasing energy consumption. For example, smart alternators can regenerate energy lost while braking by using an electronic motor as a generator to pump energy into the battery.
"Rising stringency of fuel efficiency standards further drives vehicle manufacturers to adopt smart alternators within vehicle models. Smart alternators decrease the overall power consumption by regenerating a portion of wasted energy back into the battery, thereby reducing mechanical loss. This also reduces the amount of fuel being burnt for operations. Operation of smart alternators is controlled by an electronic control unit that automatically activates the system when it detects the state-of-charge in the vehicle to fall below 75%," says a senior analyst at Technavio for research on automotive components.
Global automotive alternator market: Segmentation analysis
This market research report segments the global automotive alternator market by application (passenger cars, LCVs, and HCVs) and geographical regions (APAC, EMEA, and the Americas).
The passenger cars segment held the largest market share in 2017, accounting for over 77% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 54%. This region is expected to dominate the market through 2022, with an increase in its market share by over 1%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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