Automotive alternator market size to grow by USD 3.29 billion: Evolving opportunities with Cummins Inc., DENSO Corp among others- Technavio

NEW YORK, Feb. 14, 2023 /PRNewswire/ -- According to Technavio, the global automotive alternator market size is estimated to grow by USD 3.29 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 6.08% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 56% of the market's growth during the forecast period. The report also includes historic market data from 2017 to 2021. In 2017, the automotive alternator market was valued at USD 8.08 billion. COVID-19 had the most negative impact on the global automotive industry in recent years, resulting in a steep fall in demand and a large-scale disruption of the supply chain. It has exerted intense pressure on an already-stressed global automotive market. Yet, there are high predictions that few countries are bringing manufacturing facilities and production back on track, indicating that the supply side is on a restoration line. For more insights on the market, request a sample report

Leading trends influencing the market 

• The increasing popularity of additive manufacturing in the automotive industry is a key trend in the market.
• The automotive industry accounts for about one-eighth of the revenue generated by additive manufacturing.
• The increasing manufacturing cost, especially for products with complex designs, offers significant potential for additive manufacturing.
• Automotive manufacturers are adopting the latest manufacturing technologies, such as additive manufacturing, to decrease their manufacturing costs.
• For instance, Audi has partnered with SLM Solutions Group to launch a 3D printing center in Ingolstadt, Germany.
• Thus, the increasing popularity of additive manufacturing is expected to positively impact the market growth during the forecast period.
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Automotive alternator market - Five forces
The global automotive alternator market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes

Automotive alternator market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Automotive alternator market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type (IC engine vehicles and hybrid and electric vehicles) and application (passenger cars, LCVs, and M&HCVs). 

• The IC engine vehicle segment will account for a significant share of the market's growth during the forecast period. An internal combustion engine vehicle (ICEV) is powered by a regular internal combustion engine (ICE). It uses fuel that combusts inside a combustion chamber with the help of an oxidizer. The high demand for and production of vehicles in APAC is driving the demand for ICEVs and advanced technologies. Moreover, the rise in the disposable income of customers led to an increase in spending on automobiles with advanced technologies. These factors will drive the market's growth.

Geography overview
Based on geography, the global automotive alternator market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive alternator market.

• APAC is estimated to account for 56% of the growth of the global market during the forecast period. The market in the region is developing, with a high scope of development in terms of vehicle ownership and technological adoption. The production of automotive alternators in APAC depends on the production and sales of passenger cars and commercial vehicles and the demand for export-oriented production of automotive components. India and China have large manufacturing industries. Factors such as low wages, abundant availability of raw materials and associated transportation services, and low currency values will further drive the manufacturing industry in these countries.

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Automotive alternator market – Market dynamics
Key factor driving market growth

• The increasing use of electronic components in vehicles is driving the market growth.
• Manufacturers are adopting the latest technologies to ensure sustainability.
• For instance, in several vehicle models, electric power steering is replacing hydraulic power steering.
• Similarly, multiple automotive controls are being replaced with electronic components to improve the safety and comfort of users and reduce vehicle weight.
• In addition, advances in transmission and safety systems are driving the adoption of automatic transmission systems, anti-pinch power windows, and rain-sensing wipers, among others.
• Thus, the increasing use of electronic components is driving the demand for alternators.

Major challenges hindering market growth

• The increasing adoption of EVs is challenging market growth. 
• The rising focus on controlling emissions and reducing air pollution has increased the adoption of electric vehicles (EVs).
• Improvements in battery technology and charging infrastructure as well as government support have also increased the adoption of these vehicles.
• An EV is powered by a battery and a motor, which eliminates the need for an alternator.
• Moreover, the increasing adoption of EVs and the shift from internal combustion engine (ICE) vehicles to EVs has slowed down the growth of automotive alternator manufacturers.
• These factors will impede the growth of the market during the forecast period.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this automotive alternator market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive alternator market between 2023 and 2027
• Precise estimation of the size of the automotive alternator market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive alternator market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive alternator market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive alternator market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global automotive alternator market 2017 - 2021 ($ billion)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 IC engine vehicles - Market size and forecast 2022-2027
• Exhibit 34: Chart on IC engine vehicles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on IC engine vehicles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on IC engine vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on IC engine vehicles - Year-over-year growth 2022-2027 (%)

• 6.4 Hybrid and electric vehicles - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Hybrid and electric vehicles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Hybrid and electric vehicles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Hybrid and electric vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Hybrid and electric vehicles - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ billion)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 43: Chart on Application - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 45: Chart on Comparison by Application
• Exhibit 46: Data Table on Comparison by Application

• 7.3 Passenger cars - Market size and forecast 2022-2027
• Exhibit 47: Chart on Passenger cars - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Passenger cars - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Passenger cars - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Passenger cars - Year-over-year growth 2022-2027 (%)

• 7.4 LCVs - Market size and forecast 2022-2027 
• Exhibit 51: Chart on LCVs - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on LCVs - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on LCVs - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on LCVs - Year-over-year growth 2022-2027 (%)

• 7.5 M and HCVs - Market size and forecast 2022-2027
• Exhibit 55: Chart on M and HCVs - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on M and HCVs - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on M and HCVs - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on M and HCVs - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 59: Market opportunity by Application ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027
• Exhibit 101: Chart on South Korea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on South Korea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 ALANKO GmbH 
• Exhibit 112: ALANKO GmbH - Overview
• Exhibit 113: ALANKO GmbH - Product / Service
• Exhibit 114: ALANKO GmbH - Key offerings

• 12.4 AS PL Sp. z o.o. 
• Exhibit 115: AS PL Sp. z o.o. - Overview
• Exhibit 116: AS PL Sp. z o.o. - Product / Service
• Exhibit 117: AS PL Sp. z o.o. - Key offerings

• 12.5 BBB Industries LLC 
• Exhibit 118: BBB Industries LLC - Overview
• Exhibit 119: BBB Industries LLC - Product / Service
• Exhibit 120: BBB Industries LLC - Key offerings

• 12.6 BluePrint Engines 
• Exhibit 121: BluePrint Engines - Overview
• Exhibit 122: BluePrint Engines - Product / Service
• Exhibit 123: BluePrint Engines - Key offerings

• 12.7 BorgWarner Inc. 
• Exhibit 124: BorgWarner Inc. - Overview
• Exhibit 125: BorgWarner Inc. - Business segments
• Exhibit 126: BorgWarner Inc. - Key news
• Exhibit 127: BorgWarner Inc. - Key offerings
• Exhibit 128: BorgWarner Inc. - Segment focus

• 12.8 DENSO Corp. 
• Exhibit 129: DENSO Corp. - Overview
• Exhibit 130: DENSO Corp. - Business segments
• Exhibit 131: DENSO Corp. - Key news
• Exhibit 132: DENSO Corp. - Key offerings
• Exhibit 133: DENSO Corp. - Segment focus

• 12.9 Hitachi Ltd. 
• Exhibit 134: Hitachi Ltd. - Overview
• Exhibit 135: Hitachi Ltd. - Business segments
• Exhibit 136: Hitachi Ltd. - Key news
• Exhibit 137: Hitachi Ltd. - Key offerings
• Exhibit 138: Hitachi Ltd. - Segment focus

• 12.10 Jumps Auto Industries Ltd. 
• Exhibit 139: Jumps Auto Industries Ltd. - Overview
• Exhibit 140: Jumps Auto Industries Ltd. - Product / Service
• Exhibit 141: Jumps Auto Industries Ltd. - Key offerings

• 12.11 MAHLE GmbH 
• Exhibit 142: MAHLE GmbH - Overview
• Exhibit 143: MAHLE GmbH - Business segments
• Exhibit 144: MAHLE GmbH - Key news
• Exhibit 145: MAHLE GmbH - Key offerings
• Exhibit 146: MAHLE GmbH - Segment focus

• 12.12 MAPCO Autotechnik GmbH 
• Exhibit 147: MAPCO Autotechnik GmbH - Overview
• Exhibit 148: MAPCO Autotechnik GmbH - Product / Service
• Exhibit 149: MAPCO Autotechnik GmbH - Key offerings

• 12.13 Minda Corp. Ltd. 
• Exhibit 150: Minda Corp. Ltd. - Overview
• Exhibit 151: Minda Corp. Ltd. - Product / Service
• Exhibit 152: Minda Corp. Ltd. - Key news
• Exhibit 153: Minda Corp. Ltd. - Key offerings

• 12.14 Mitsubishi Electric Corp. 
• Exhibit 154: Mitsubishi Electric Corp. - Overview
• Exhibit 155: Mitsubishi Electric Corp. - Business segments
• Exhibit 156: Mitsubishi Electric Corp. - Key news
• Exhibit 157: Mitsubishi Electric Corp. - Key offerings
• Exhibit 158: Mitsubishi Electric Corp. - Segment focus

• 12.15 Robert Bosch GmbH 
• Exhibit 159: Robert Bosch GmbH - Overview
• Exhibit 160: Robert Bosch GmbH - Business segments
• Exhibit 161: Robert Bosch GmbH - Key news
• Exhibit 162: Robert Bosch GmbH - Key offerings
• Exhibit 163: Robert Bosch GmbH - Segment focus

• 12.16 Stellantis NV 
• Exhibit 164: Stellantis NV - Overview
• Exhibit 165: Stellantis NV - Business segments
• Exhibit 166: Stellantis NV - Key news
• Exhibit 167: Stellantis NV - Key offerings
• Exhibit 168: Stellantis NV - Segment focus

• 12.17 Valeo SA 
• Exhibit 169: Valeo SA - Overview
• Exhibit 170: Valeo SA - Business segments
• Exhibit 171: Valeo SA - Key news
• Exhibit 172: Valeo SA - Key offerings
• Exhibit 173: Valeo SA - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

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