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The increasing usage of power in the cars and the rise in electrical and electronics device in the vehicles is expected to surge the market for automotive alternator. Moreover, increasing global demand for vehicles has a significant contribution to the growth of automotive alternator market. Asia-Pacific is estimated to have the largest market for automotive industry due to government initiated FDI for international automotive players, favorable economic conditions, and presence of major automotive manufacturing industries which in turn is expected to significantly contribute to the increasing demand in the automotive alternator market. The global automotive alternator market is expected to show a growth at CAGR of about 5.5% from 2016 to 2021.
Segmentation
In the reports of MRFR, the global Automotive Alternator Market has been segmented into type and vehicle type.
By the mode of type, the market has been segmented as single phase and three phases.
By the mode of vehicle type, the market has been segmented as commercial and passenger.
Regional Outlook
Taking geographical segmentations into consideration, the global market for Automotive Alternator Systems has covered the major regions of North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. The report points out that among them, Asia Pacific region holds the major share of the market. Countries such as Chine, India, and South Korea have profoundly contributed to the market share owing to government initiative in FDIs doe international automotive players, increasing disposable income of people and increasing buying potential is expected to drive the Automotive Alternator Systems market in the years to come.
Europe and North America are the strongest market
Asia-Pacific is the major regions for the automotive alternator market. Asia-Pacific is expected to be fastest growing market for the automotive alternator. Emerging economies like China, India, and South Korea are expected to drive the market due to government initiative in FDIs for international automotive players, increasing individual’s disposable income & purchasing power is expected to drive the market for automotive alternator. It is followed by European region due to presence of biggest automotive players in the region.
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The key players in the global Automotive alternator market are Valeo, Denso, Bosch, Remy, ISKRA, Mando, Mitsubishi, Hitachi Automotive, Magneti Marelli, Motorcar Parts of America, Hella KGaA Hueck & Co., and Lucas Electrical. This report includes the product portfolios of the same.
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