The alternator market is expected to register a CAGR of over 5% over the forecast period (2020 – 2025). The demand for the alternator is increasing owing to the growing consumption of alternating current in different sectors, such as oil & gas, industrial manufacturing, and power, among others.
– Growing investment in grid infrastructure across emerging markets is boosting the market’s growth positively. For instance, China announced to spend at least 2 trillion yuan (USD 315 billion) to enhance its power grid infrastructure over the 2015-2020 period.
– Moreover, rising demand for turbines and engine and increasing investment in the construction industry are also expected to augment the growth of the market. According to the Construction Industry Federation report, USD 26 billion was invested in building and construction during the year 2018, up 20% on the previous year.
– Furthermore, growing demand for power, from both conventional and non-conventional sources, has been fueling the application of alternators in the power generation sector.
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Scope of the Report
An alternator is an electrical generator which converts mechanical energy to electrical energy in the form of alternating current (AC). The electromagnetic induction produces electricity in alternators. They are now replacing the DC generators owing to its improved efficiency. Alternators find applications in industrial & commercial, automotive, marine, oil & gas industries, and power plants among others.
Key Market Trends
Application in Oil & Gas is Expected to Hold a Significant Share
– Oil and gas projects typically require alternators in the 500kW-25MW range. In Offshore, alternators are used in drilling rigs support vessels providing prime power, drilling operation, and platform propulsion when used on the floating rigs.
– The search for oil often leads to extreme conditions, either on the sea or on land, where dusty desert conditions or offshore platforms can affect an alternator’s performance. Thereby, vendors are providing total environmental protection, delivering the reliability and durability demanded by the customers and designed to suit oil & gas project.
– For instance, a continuous power requirement in Colombia’s oil sector is being met by Stamford P80 alternators., provided by Cummins Generator Technologies. Specialist generator set manufacturer IGSA from Mexico specified the premium alternators from Cummins Generator Technologies. These were coupled with Cummins engines to make a 2.5MW generator set design that meets the highest quality standards in a demanding application. The alternators specified were low voltage variants of the Stamford P80 range.
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