The Europe Alternators Market would witness market growth of 4.8% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 5055.3 thousand units, showcasing a growth of 17.2% (2020-2023).
Alternators are essential components within automotive systems, responsible for converting mechanical energy into electrical power to charge the vehicle's battery and power various electrical systems, including lights, air conditioning, and entertainment systems. With the increasing integration of advanced electrical and electronic features in modern vehicles, such as infotainment systems and advanced driver assistance systems (ADAS), the demand for alternators continues to grow. Therefore, the Germany market used 518.3 thousand units of alternators in the automotive industry in 2023.
The Germany market dominated the Europe Alternators Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,893.3 million by 2031. The UK market is exhibiting a CAGR of 4.3% during (2024 - 2031). Additionally, The France market would experience a CAGR of 5.6% during (2024 - 2031).
Alternators are integral to automotive electrical systems. Vehicles generate electricity to charge the battery and power electrical components such as lights, air conditioning, infotainment systems, and engine control units (ECUs). Alternators are essential for traditional internal combustion engines and modern electric and hybrid vehicles.
Additionally, alternators are used in various construction and mining equipment, including excavators, bulldozers, loaders, and dump trucks. They provide electrical power for onboard systems, lighting, air conditioning, and hydraulic systems. Alternators are crucial for ensuring the continuous operation of heavy machinery in challenging environments.
According to Eurostat data, in 2021, a substantial fraction of the EU population resided in primarily urban regions (40.5%) and intermediate regions (38.7%), with the remaining fifth (20.8%) living in predominantly rural regions. Urbanization drives the need for infrastructure development in European cities, including transportation systems, utilities, public buildings, and residential areas. Thus, all these factors will uplift the regional market’s expansion in the coming years.
Free Valuable Insights: The Global Alternators Market will Hit USD 31.7 Billion by 2031, at a CAGR of 5.2%
Based on Voltage, the market is segmented into Medium and High. Based on Phase, the market is segmented into Three Phase Alternator, Two Phase Alternator and Single-Phase Alternator. Based on End-Use Industry, the market is segmented into Automotive, Power Generation, Construction, Oil & Gas and Others. Based on Type, the market is segmented into Brushed Alternators, Brushless Alternators, and Permanent Magnet Alternators. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Voltage (Volume, Thousand Units, USD Billion, 2020-2031)
By Phase (Volume, Thousand Units, USD Billion, 2020-2031)
By End-Use Industry (Volume, Thousand Units, USD Billion, 2020-2031)
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Country (Volume, Thousand Units, USD Billion, 2020-2031)
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