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Automotive Starter Motor and Alternator Market Insights: Comprehensive Analysis of Market Share, Trends, and Growth Outlook in a $39.76 Billion Industry
Automotive Starter Motor And Alternator Market
As per the report, the automotive starter motor and alternator market size has grown strongly in recent years. It will grow from $30.65 billion in 2023 to $32.23 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The automotive starter motor and alternator market size is expected to see strong growth in the next few years. It will grow to $39.76 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
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Global Automotive Production Surge Boosts Automotive Starter Motor And Alternator Market
The rise in global automotive production is expected to propel the growth of the automotive starter motor and alternator market going forward. Automotive refers to all forms of mobile machinery, including automobiles, trucks, buses, vans, motorbikes, and golf carts. An automotive starter motor and alternator are used in an automobile to charge the battery and supply power to the vehicle's electrical system, by transforming the electricity into mechanical energy, on which engines and machines run. For instance, in April 2022, according to the European Automobile Manufacturers Association, a Europe-based organization, the global automotive production was 79.1 million in 2021, a 1.3% increase over 2020. Therefore, rise in the global automotive production is driving the automotive starter motor and alternator market.
Innovative Belt-Driven Starter Generator Transforms The Market
Product innovations are a key trend gaining popularity in the automotive starter motors and alternator market. Major companies operating in automotive starter motors and alternators are introducing innovative technologies to sustain their position in the market. For instance, in March 2022, Nexteer Automotive, a US-based motion control technology company, launched a 48-volt Integrated Belt-Driven Starter Generator (iBSG). The iBSG is a motor generator that is connected to the engine crankshaft via a belt that can function as both a starter motor and a generator, providing up to 12 kW of electric power to assist the engine. This can help to improve fuel economy by up to 16% and reduce emissions by up to 15%. The iBSG is also a key enabler for several other vehicle features, such as stop-start technology, electric power steering, and regenerative braking. The 48-volt iBSG increases the ICE and fuel economy by recovering the vehicle's kinetic energy during deceleration and returning it during acceleration.
The automotive starter motor and alternator market covered in this report is segmented -
1) By Product Type: Electric Starter Motors, Gear Reduction Starter Motors
2) By Power Output: 1.0 KW-3.0 KW, 3.0 KW-5.0 KW, 5.0 KW And Above
3) By Technology: Belt Driven Starter Motor And Alternator, Enhanced Starter, Integrated Starter Generator (ISG), Direct Start
4) By Vehicle Type: Internal Combustion Engine (ICE), Hybrids, Other Vehicle Types
5) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
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Major companies operating in the automotive starter motor and alternator market report are Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Denso Corporation, Valeo SA, Mitsuba Corporation, HELLA GmbH & Co. KGaA, Lucas Electrical Limited, Controlled Power Technologies Ltd., Mitsubishi Electric Corporation, ASMICO Technologies Limited, Cummins Inc., BBB Industries LLC, Remy International Inc., RFL Alternators, Motor Corporation of America, Hella KGaA Hueck & Co., ASMO Co. Ltd., BorgWarner Inc., Mahle GmbH, Broad-Ocean Motor Co. Ltd., Cummins Generator Technologies, Magneti Marelli S.p.A., Mando Corporation, Prestolite Electric Inc., Remy Power Products, Unipoint Electric Mfg. Co. Ltd., WAI Global, Zhejiang Dehong Automotive Electronic & Electrical Co. Ltd., ACDelco, AS-PL Sp. z o.o. .
Contents of the report:
1. Executive Summary
2. Automotive Starter Motor And Alternator Market Report Structure
3. Automotive Starter Motor And Alternator Market Trends And Strategies
4. Automotive Starter Motor And Alternator Market - Macro Economic Scenario
5. Automotive Starter Motor And Alternator Market Size And Growth
…..
27. Automotive Starter Motor And Alternator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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