Global Alternator Market 2015-2020 - Product, Technology, Power Output, Type, Vehicle Type & Regional Analysis of the $8.8 Billion Industry
DUBLIN, Sept. 16, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/q7qvbb/alternator_market) has announced the addition of the "Alternator Market by Product, Technology, Power Output, Type, Vehicle Type, & by Region - Forecast to 2020" report to their offering.
The Alternator market is projected to grow at a CAGR of 5.38% from 2015 to 2020 to reach a value USD 8,871.5 Million by 2020. On the other hand, the market for starter motor is estimated to reach USD 9,087.3 Million by 2020, growing at a CAGR of 5.22%.
Asia-Oceania region is estimated to have the highest market share in automotive alternator market in 2015 and is also projected to lead the starter motor market in the same year. This huge market share can be attributed to growing vehicle production and increasing vehicle electrification. North America is the second fastest growing starter motor and alternator market, where stringent emission norms resulting into development of advance technologies has been driving the market. Stringent fuel emission and fuel economy norms have been introduced by the government globally.
This has given rise to the increasing involvement of electrical and electronics components on large scale in an automobile in the past decade. Engine downsizing has led manufacturers to develop starter motor and alternator that comply with the incoming trend. Different technologies such as enhanced starters, integrated starter generator, and direct start have been introduced. These technologies find application in micro-hybrid and hybrid vehicles. Promotion of greener vehicles has been fuelling the demand of these technologies. According to the study done at MarketsandMarkets, Integrated starter generator is projected to grow at the fastest rate from 2015 to 2020.
Key Drivers for automotive starter motor and alternator market include increasing involvement of electrical and electronics component in vehicle, which demands more power and increasing vehicle production, is another factor directly driving the demand for starter motor and alternator. However, increasing demand for electrical vehicles has been posing a serious restraint on the growth of this market.
The global automotive starter motor and alternator market is dominated by major players such as Robert Bosch GmbH (Germany), Denso Corporation (U.S.), Valeo S.A. (France), Hitachi Automotive (Japan), Lucas Electrical (U.K.), Mitsubishi Corporation (Japan), Hella KGaA Hueck & Co., (Germany), Motor Corporation of America (U.S.), Control Power Technology (U.K.), and Mitsuba Corporation (Japan). Robert Bosch GmbH is the market leader adopting new product development and expansion as the key strategy to grow. It has developed technology named as direct start that would replace starter motors from vehicles completely.
For more information visit http://www.researchandmarkets.com/research/q7qvbb/alternator_market
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SOURCE Research and Markets
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