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Global Automotive Starter Motor And Alternator Market Worth $39.87 Billion by 2029, Growing at 5% CAGR
Automotive Starter Motor And Alternator Market
Automotive Starter Motor And Alternator Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size of the automotive starter motor and alternator has shown a consistent growth pattern in the past years. It is projected to rise from $31.76 billion in 2024 to $32.84 billion in 2025, yielding a Compound Annual Growth Rate (CAGR) of 3.4%. This expansion during the historic periods can be traced back to the dominance of traditional internal combustion engines, growth in the automotive sector, increased vehicle ownership, rising intricacy in vehicle electronics, as well as evolving needs in maintenance and replacements.
What Is the Expected CAGR for the Automotive Starter Motor And Alternator Market Growth Through 2029?
The market size for automotive starter motor and alternator is anticipated to experience a consistent rise over the upcoming years, expanding to $39.87 billion in 2029 with a compound annual growth rate (CAGR) of 5.0%. This upwards trend during the forecast period is largely due to the broader acceptance of hybrid and electric vehicles, cutting-edge start-stop systems, and incorporation of sophisticated technologies. Other contributing factors include an escalation in vehicle electrification and an increased emphasis on enhancing fuel efficiency. The period forecasted also sees a rise in trends such as a heightened demand in the aftermarket, technological progression, international regulatory standards, disruptions in the supply chain, and a stronger drift towards sustainability.
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What Are the Primary Drivers Behind Automotive Starter Motor And Alternator Market Growth?
The anticipated upswing in worldwide vehicle production is set to boost the growth of the automotive starter motor and alternator market. "Automotive" encompasses all types of mobile machines, including cars, trucks, buses, vans, motorcycles, and golf carts. Automotive starter motors and alternators play a critical role in vehicles, charging the battery and providing power to the vehicle's electrical system by converting electricity into mechanical energy, which powers engines and machines. For example, the European Automobile Manufacturers Association, a European organization, reported in April 2022, that global automotive production had reached 79.1 million in 2021, a rise of 1.3% from 2020. As a result, this global growth of automotive production is fueling the market for automotive starter motors and alternators.
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What Are the Key Segments Driving Automotive Starter Motor And Alternator Market Growth?
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), After market
Subsegments:
1) By Electric Starter Motors: Brushless Starter Motors, Brushed Starter Motors
2) By Gear Reduction Starter Motors: Permanent Magnet Gear Reduction Motors, Series Wound Gear Reduction Motors
What Are the Technological Trends Impacting the Automotive Starter Motor And Alternator Market?
Advancements in product technology have become a significant trend that is shaping the automotive starter motor and alternator market. To maintain their market foothold, large corporations specializing in starter motors and alternators are developing and introducing ground-breaking technologies. A case in point being Nexteer Automotive, a US firm specializing in motion control technology, which launched a 48-volt Integrated Belt-Driven Starter Generator (iBSG) in March 2022. The (iBSG), a motor generator, connects to an engine crankshaft using a belt, and serves the dual function of a starter motor and generator, supplying up to 12 kW of electric power to assist the engine, thus capable of increasing the fuel efficiency by up to 16% and decreasing emissions by up to 15%. Moreover, the iBSG enables numerous other vehicle functions like stop-start technology, electric power steering, and regenerative braking. During deceleration, the 48-volt iBSG improves fuel and ICE economy by capturing the vehicle's kinetic energy and releasing it during acceleration.
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Who Are the Major Competitors in the Global Automotive Starter Motor And Alternator Market?
Major companies operating in the automotive starter motor and alternator market include Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Denso Corporation, Valeo SA, Mitsuba Corporation, 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.
Which Region Dominates the Automotive Starter Motor And Alternator Market Share in 2025?
Asia-Pacific was the largest region in the automotive starter motor and alternator market in 2024. The regions covered in the automotive starter motor and alternator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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