Automotive Alternator Market Size (2024 - 2029)

The automotive alternator market is projected to experience significant growth over the forecast period, driven by the recovery in vehicle production post-pandemic and the increasing demand for hybrid powertrain systems. Despite the shift towards electric vehicles, which may reduce reliance on traditional alternators, the market is expected to expand due to technological advancements and stringent emission norms. The Asia-Pacific region is anticipated to maintain a substantial market share, supported by rising vehicle sales in countries like China, Japan, and India, where major manufacturers are strategically located to meet high demand.

Market Size of Automotive Alternator Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Automotive Alternator Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 24.58 Billion
Market Size (2029) USD 36.06 Billion
CAGR (2024 - 2029) 6.70 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Automotive Alternator Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Automotive Alternator Market Analysis

The Automotive Alternator Market size is estimated at USD 24.58 billion in 2024, and is expected to reach USD 36.06 billion by 2029, growing at a CAGR of 6.70% during the forecast period (2024-2029).

  • The automotive industry experienced a slowdown during the COVID-19 pandemic, with many manufacturing facilities temporarily shutting down or operating at reduced capacity. However, as restrictions eased and consumer demand recovered, vehicle production started to rebound. This recovery in vehicle production may positively impact the demand for automotive alternators.
  • The COVID-19 pandemic highlighted the importance of sustainability and environmental concerns, leading to increased interest in electric vehicles. As the adoption of electric vehicles continues to grow, the automotive alternator market may witness a shift in demand. Electric vehicles typically use different power generation systems, such as onboard chargers or electric motor-driven generators, reducing reliance on traditional alternators.
  • However, the growing demand for hybrid powertrain systems in vehicles and stringent emission norms are the major factors expected to propel the automotive alternator market during the forecast period. With the growing technological advancements and stringent emissions, OEMs are anticipated to shift more toward electric vehicles, which can slightly restrain the market’s growth in the future.
  • Asia-Pacific is expected to continue to capture a major market share during the forecast period, owing to the increasing vehicle sales, majorly from China, Japan, and India. Major vehicle manufacturers have manufacturing units in this region to capture high demand in the market.

Automotive Alternator Industry Segmentation

An automotive alternator is used to provide current to the vehicles, charge the battery, and power the electrical system when its engine is running.

The automotive alternator market is segmented by powertrain type (IC engine vehicles and hybrid and electric vehicles), vehicle type (passenger cars and commercial vehicles), type (single phase and three phase), and geography (North America, Europe, Asia-Pacific, and Rest of the World).

The report offers market size and forecasts in value (USD) for all the above segments.

Powertrain Type
IC Engine Vehicles
Hybrid and Electric Vehicles
Vehicle Type
Passenger Cars
Commercial Vehicles
Type
Single Phase
Three Phase
Geography
North America
United States
Canada
Mexico
Rest of North America
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Rest of the World
Brazil
Saudi Arabia
Other Countries
Need A Different Region Or Segment?
Customize Now

Automotive Alternator Market Size Summary

The automotive alternator market is poised for significant growth over the forecast period, driven by the increasing demand for passenger cars and commercial vehicles globally. The market is experiencing a recovery following the disruptions caused by the COVID-19 pandemic, which had temporarily slowed down vehicle production and sales. As consumer demand rebounds and vehicle production ramps up, the demand for automotive alternators is expected to rise. However, the shift towards electric vehicles and hybrid powertrains, which utilize different power generation systems, may influence the traditional alternator market. Despite this, the growing need for advanced alternators to meet stringent emission norms and support the complex electrical systems of modern vehicles is anticipated to sustain market growth.

Asia-Pacific is expected to maintain its dominance in the automotive alternator market, with countries like China, India, and Japan contributing significantly to the market share due to their robust vehicle production and sales. The region's emerging markets offer substantial growth opportunities, supported by low-cost manufacturing and increasing vehicle demand. The market is highly competitive, with major players like Denso, Valeo, Mitsubishi Electric, and Hitachi Automotive holding significant shares. These companies are actively expanding their production capabilities and investing in research and development to enhance their product offerings. The market's competitive landscape is further shaped by the presence of both local and global players, with ongoing innovations and strategic expansions aimed at capturing a larger market share.

Explore More

Automotive Alternator Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing Vehicle Production

    2. 1.2 Market Restraints

      1. 1.2.1 Shift Toward Electric Powertrain

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Powertrain Type

      1. 2.1.1 IC Engine Vehicles

      2. 2.1.2 Hybrid and Electric Vehicles

    2. 2.2 Vehicle Type

      1. 2.2.1 Passenger Cars

      2. 2.2.2 Commercial Vehicles

    3. 2.3 Type

      1. 2.3.1 Single Phase

      2. 2.3.2 Three Phase

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

        4. 2.4.1.4 Rest of North America

      2. 2.4.2 Asia-Pacific

        1. 2.4.2.1 China

        2. 2.4.2.2 Japan

        3. 2.4.2.3 India

        4. 2.4.2.4 South Korea

        5. 2.4.2.5 Rest of Asia-Pacific

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Saudi Arabia

        3. 2.4.4.3 Other Countries

Automotive Alternator Market Size FAQs

The Automotive Alternator Market size is expected to reach USD 24.58 billion in 2024 and grow at a CAGR of 6.70% to reach USD 36.06 billion by 2029.

In 2024, the Automotive Alternator Market size is expected to reach USD 24.58 billion.

Automotive Alternator Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)