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Alternators refer to devices which convert mechanical energy into electrical energy. The working principle of alternators depends upon Faraday s law of electromagnetic induction in which the current is induced in the conductor surrounded by a magnetic field when there is a relative motion. Alternators find applications in electric generators; automotive, marine, gas and oil industries; power plants; etc. According to the latest report, titled Alternators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 , the global alternators market reached a value of US$ 17.2 Billion in 2020.
Due to the increasing consumption of alternating current in different sectors, such as automotive, gas, industrial manufacturing, etc., the demand for alternators has witnessed a positive growth across the globe. Another key growth-inducing factor is the growing investment in grid infrastructure