Press release
Rising Demand for Hybrid Vehicles Pushes Automotive Hybrid Starter Generator Market to $26.3 Billion by 2033
Automotive Hybrid Starter Generator Market
According to the report, the automotive hybrid starter generator (HSG) market was valued at $17.4 billion in 2023, and is estimated to reach $26.3 billion by 2033, growing at a CAGR of 4.5% from 2024 to 2033.
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Prime Determinants of Growth
Consumers and governments are increasingly prioritizing fuel efficiency due to rise in fuel costs and environmental concerns. Hybrid starter generators improve fuel efficiency by enabling the engine to start and stop smoothly, thus reducing fuel consumption and emissions. Furthermore, continuous advancements in automotive technology, including improvements in battery technology and electric motor efficiency, are driving the adoption of hybrid systems. Hybrid starter generators are an integral part of these systems, contributing to their overall efficiency and performance.
Increase in awareness about the environmental impact of traditional internal combustion engine vehicles is driving consumers towards more eco-friendly alternatives. Hybrid vehicles, which use hybrid starter generators, are seen as a compromise between conventional vehicles and fully electric vehicles. Moreover, the overall growth in automotive production and sales, especially in emerging markets, is contributing to the demand for hybrid technologies. As the automotive industry expands, the adoption of advanced technologies like HSGs increases.
Recent Development:
In June 2022, Mahindra launched its new generation of Scorpio SUV in India that comes powered by a gasoline and a diesel engine. In addition, the car also features a start-stop feature.
In March 2023, Proton introduced its first mild-hybrid electric vehicle (MHEV) model, the X90. The XC90 model is equipped with a 48 V Belt-Starter Generator (BSG) motor, a DCDC converter, a 48 V lithium-ion battery, a battery management system, a recuperation braking system, and a hybrid module control system.
In April 2022, Maserati introduced the Maserati Grecale, a mild-hybrid vehicle in Italy. The hybrid powertrain comes in two outputs, with entry-level Grecale GTs getting a 296 hp version while up-level Modena trims getting 325 hp. All models come with all-wheel drive and eight-speed automatic gearboxes. The Maserati Grecale witnessed a sale of around 1, 704 units in 2022 in the country.
In March 2022, Maruti Suzuki launched a facelift of Baleno in India, which comes with micro-hybrid features such as the start-stop function.
In December 2022, Mazda Motor Corporation introduced a new hybrid vehicle model equipped with a strong hybrid mechanism that will allow it to be driven solely by a motor. The company plans to develop the HV in-house, adopting a "mild hybrid" mechanism to support the engine with a motor.
Segment Highlights
By Type
The 12-volt segment is expected to experience rapid growth throughout the forecast period.
The 12-volt segment is anticipated to experience faster growth in the automotive hybrid starter generator market due to many automakers viewing 12-volt hybrid starter generators as a stepping stone towards higher voltage systems or fully electric vehicles. They can gradually introduce hybridization into their vehicle lineup without making a significant leap in technology, allowing for smoother market adoption and reduced risk.
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By Application
The heavy commercial segment is expected to experience rapid growth throughout the forecast period.
The heavy commercial segment is anticipated to experience faster growth in the automotive hybrid starter generator market owing to heavy commercial vehicles consuming large amounts of fuel, making fuel efficiency a significant concern for fleet operators. Hybrid starter generators can help improve fuel efficiency by enabling features such as engine start-stop and regenerative braking, reducing fuel consumption and operating costs over the vehicle's lifespan.
By Power Rating
The medium power (15-30kW) segment is expected to experience rapid growth throughout the forecast period.
The medium power (15-30kW) segment is anticipated to experience faster growth in the automotive hybrid starter generator market due to medium power hybrid starter generators provide sufficient power to support essential functions such as engine start-stop, regenerative braking, and auxiliary power generation without being overly bulky or expensive. This optimal balance between performance and cost makes them attractive to both vehicle manufacturers and consumers.
By Component
The electric motor/generator segment is expected to experience rapid growth throughout the forecast period.
The electric motor/generator segment is anticipated to experience faster growth in the automotive hybrid starter generator market due to the electric motor/generator being the central component of a hybrid starter generator system. It is responsible for starting the engine, providing power assistance during acceleration, and functioning as a generator to recover energy during braking. As such, it is indispensable to the operation of the hybrid system, making it a critical and high-demand component.
By Region
Asia-Pacific to maintain its dominance by 2032.
Asia-Pacific is expected to maintain its dominance in the automotive hybrid starter generator market by 2032 due to strong regulatory incentives, a robust automotive manufacturing base, and high consumer demand for fuel-efficient vehicles.
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Key Players:-
Continental
ZF
BOSCH
Delphi
SEG-Automotive
Hyundai MOBIS
Mitsubishi Electric
DENSO
Valeo
Hitachi Automotive Systems Ltd.
The report provides a detailed analysis of these key players in the global automotive hybrid starter generator market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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