LONDON--(BUSINESS WIRE)--The automotive alternator slip ring market is expected to grow by USD 62.7 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Rising purchasing power and significant economic growth have increased the demand for passenger cars in countries such as China, India, and Brazil. This is encouraging many automobile manufacturers to enter the automotive market in these countries. Also, growing competition and saturation in developed markets has led several global automobile manufacturers to shift focus towards these countries. Similarly, Mexico is witnessing continuous investments in the automotive sector owing to its free trade agreements with neighboring countries such as the US, Canada, and other South American countries. Therefore, the increasing demand for automobiles is expected to drive the growth of the global automotive alternator slip ring market during the forecast period.
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As per Technavio, the growing popularity of smart alternators will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Automotive Alternator Slip Ring Market: Growing Popularity of Smart Alternators
Increasing stringency of fuel efficiency regulations is forcing automakers to adopt smart alternators in their vehicle models. Smart alternators reduce the overall fuel consumption by regenerating a portion of the wasted energy back into the battery. This helps automobile manufacturers meet growing power demands in modern vehicles. The rising popularity of smart alternators in the automotive industry is expected to boost the growth of the global automotive alternator slip ring market.
“Increasing popularity of regenerative braking mechanism and advances in integrated starter generators will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Automotive Alternator Slip Ring Market: Segmentation Analysis
This market research report segments the automotive alternator slip ring market by application (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the automotive alternator slip ring market in 2019, followed by Europe, North America, South America, and MEA. During the forecast period, APAC is expected to register the highest incremental growth due to the increasing demand for fuel-efficient vehicles in the region.
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Some of the key topics covered in the report include:
- Passenger cars
- Commercial vehicles
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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