Application segments performance in the global automotive alternator slip ring market

The global automotive alternator slip ring market is expected to grow at a CAGR of 3.34% during the forecast period. Based on application, the global automotive alternator slip ring market has been segmented into passenger cars and commercial vehicles.

The passenger cars segment dominates the global automotive alternator slip ring market owing to the high-volume production of passenger cars when compared to CVs. The rising demand for power supply to the increasing number of electronic systems inside passenger cars is also an important factor for the growth of this segment. Out of these, compact cars, hatchbacks, compact SUVs, and entry-level sedans dominate the volume share globally.

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Automotive OEMs are adding new electronic features within the latest models of their vehicles to attract buyers, with the growing demand for convenience and safety by customers. Addition of optional systems such as custom audio systems increases the load on the vehicle battery. This creates a need for high-output alternators with reliable alternator slip rings to prevent battery power drain. High-output alternators increase the current sent to the vehicle battery, either at high rotations per minute or at idling. This alleviates the risk of a complete battery drain, which is driving the demand for automotive alternator slip rings in the passenger cars segment of the global automotive alternator slip ring market during the forecast period.