The ‘Global Automotive Alternator and Starter Motor Market Trend, Size, Price, Share, Demand, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global automotive alternator and starter motor market. It assesses the market on the basis of its segments like product, technology, starter motor type, vehicle type, sales channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Automotive Alternator and Starter Motor Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2022-2027): 3.90 %
The automotive alternator and starter motor market is anticipated to grow as a result of an increase in vehicle production and sales. The growing presence of electrical and electronic components in automobiles, which demand greater power, is another factor driving the demand for starting motors and alternators. Additional factors driving the expansion of the worldwide automotive starter and alternator market include the increased demand for vehicles, growing population, rising disposable income, and quick urbanisation.
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Rising automotive spending in emerging economies, such as India, is anticipated to create new opportunities for the worldwide automotive starter and alternator market in the coming years. The increasing propensity of consumers to spend more money on cars motivates manufacturers to increase their spending on R&D and the development of cutting-edge automotive components.
Moreover, it is predicted that throughout the projection period, demand for the automotive alternator and starter motor market would increase due to the growing adoption of electric vehicles because of environmental concerns, such as rising air pollution. It is also anticipated that rising demand for lightweight and fuel-efficient cars will shortly increase demand for automotive starters and alternators.
Automotive Alternator and Starter Motor Major Segments
An internal combustion engine is started by an automobile starter, which also controls how the engine runs while it is powered by the engine. Alternators, on the other hand, are the parts of an automobile that are utilised to power the electrical system and charge the battery. The alternator charges the battery while also supplying power to the lights, electronics, and ignition of the car.
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Based on product, the market includes:
• Starter motor
Based on technology, the divisions of the market are:
• Belt Alternator Starter (BAS)
• Enhanced Starter
• Integrated Starter Generator (ISG)
Based on starter motor type, the automotive alternator and starter motor market is segmented into:
On basis of Vehicle type, the market is categorised into:
• Commercial Vehicles
o Heavy Commercial Vehicles
o Light Commercial Vehicles
• Passenger Vehicles
Based on sales channels, the market is bifurcated into:
The major regional markets include:
• North America
• Middle East and Africa
• Latin America
Automotive Alternator and Starter Motor Market Trends
One of the biggest markets for automobile starter motors and alternators is estimated to be the Asia Pacific region. Automobile manufacturers have a plethora of opportunities due to the large population base coupled with cheap labour, low production costs, and lax regulations.
Growing vehicle sales and production, population growth, rising disposable income, and rising demand for vehicle electrification are some of the factors propelling market expansion in the area. It is projected that nations like India, China, and Japan will grow more quickly than other nations in the region. Additionally, major automakers are expanding their production facilities in Asian nations, which is creating new opportunities for both domestic and international vendors.
It is also projected that the North American region would have significant growth throughout the forecast period. The automotive alternator and starter motor market in North America is primarily growing as a result of rising vehicle sales in the region and ongoing investment in this sector. Additionally, it is anticipated that the high level of disposable income in the population would favourably influence the expansion of the automotive starter and alternator market throughout the course of the projection period.
Key Market Players
The major players in global automotive alternator and starter motor market report include:
- Robert Bosch GmbH
- DENSO Corporation
- Mitsuba Corporation
- Lucas TVS Limited
- Mitsubishi Electric Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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