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Automotive Starter and Alternator Market Outlook 2018-2027 – Global Market By Trends, Technology, Tremendous Growth Opportunity and Major Key Players

01-16-2020 08:05 AM CET | Industry, Real Estate & Construction

Press release from: Kenneth Research

Automotive Starter and Alternator Market Outlook 2018-2027

Automotive Starter and Alternator Market Outlook 2018-2027

Automotive Starter and Alternator Market Overview

Automotive starter is an automotive part, used to turn on internal combustion engine and it’s responsible for engine operation under its own power. Automotive starter can be electric, hydraulic and pneumatic. Alternators refer to an automotive part which is used to charge the battery and power the electrical system.

Market Size and Forecast

Global automotive starter and alternator market is expected to grow at a CAGR of 4.6% during the forecast period i.e. 2018-2027. The automotive starter and alternator market was held to be USD 25.1 Billion in 2017 and is anticipated to garner USD 37.6 Billion by the end of 2027. Factors such as increasing sale of automotive across the globe coupled with rising disposable income are making headway for the growth of the global automotive starter and alternator market. Moreover, rising production and sale of hybrid vehicles is anticipated to positively impact the growth of the market.

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Geographically, Asia Pacific is anticipated to dominate the overall market of automotive starter and alternator during the forecast period. Moreover, Asia Pacific is poised to record fastest growth rate during the forecast period. Rising base of affluent middle class population coupled with increasing sale of automotive vehicles is predicted to trigger the growth of the automotive starter and alternator market in years ahead. According to OICA, in Asia-Pacific, 53,540,607 motor vehicle were produced in 2017. Moreover, Asia Pacific represented a Y-O-Y growth of 3.3% & accounted for 54.5% market share, in the terms of motor vehicle production, as compared to the rest of world. Countries such as China, Japan and India are anticipated to exhibit faster growth rate as compared to other countries in the region. Moreover, major automotive manufacturers are expanding their production facilities in Asian countries. This factor is opening a gateway of opportunities for the domestic and foreign vendors.

Europe automotive starter and alternator market is expected to witness substantial growth over the forecast period. Increasing production of automotive vehicles in the region bodes well for Automotive Starter and Alternator market. In 2017, 22.1 million motor vehicle were produced in Europe as compared to 21.4 million cars in 2016.

Further, North America region is anticipated to grow at significant rate during the forecast period. The market of North America region is mainly expanding on the back of the increasing sale of vehicles in the region. Further, high disposable income of the population is believed to positively impact the growth of automotive starter and alternator market during the forecast period.

Based on vehicle type, automotive starter and alternator market is segmented into passenger cars, light commercial vehicle and heavy commercial vehicle, out of which, passenger cars is expected to dominate the overall automotive starter and alternator market during the forecast period.

Study With Leading Companies of Global Market:
Robert Bosch GmbH, Denso Corporation, Hitachi Automotive Systems, Ltd., Valeo SA, Mitsuba Corporation, Hella KGAA Hueck & Co., Lucas Electrical, Mitsubishi Electric Corporation, Controlled Power Technologies Ltd., ASIMCO Technologies Ltd., Other Key Players.

Market is Segmented By: Product Type, Vehicle Type, By Regions

Read More:
https://www.kennethresearch.com/report-details/automotive-starter-and-alternator-market/10075943

Growth Drivers and Challenges

Growing production of automotive in the world is likely to benefit global automotive starter and alternator market. Moreover, increasing sale of vehicles across the globe fuels the growth opportunities for automotive starter and alternator aftermarket. Further, increasing urbanization and rising disposable income of the population is driving the growth of the automotive industry which in turn, is anticipated to accelerate the growth of the global automotive starter and alternators market.

Increasing spending on automotive in emerging economies such as India and others is anticipated to further open a gateway of opportunities for the growth of the global automotive starter and alternator market in the years ahead. Furthermore, increasing willingness of the consumers to spend more on automobiles is encouraging the manufacturers to spend more on research and development and develop advanced automotive parts. This factor bodes well for the growth of automotive starter and alternator market.

Contact Us
Name: David
Email: Sales@kennethresearch.com
Phone: +1 313 462 0609

About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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