Automotive Alternator and Starter Motor Market Outlook
According to the report by Expert Market Research (EMR), the global automotive alternator and starter motor market size is projected to grow at a CAGR of 3.90% between 2024 and 2032. Aided by the rising global demand for automobiles, advancements in automotive technology, and the increasing need for fuel-efficient and reliable vehicles, the market is expected to grow significantly by 2032.
An alternator is a device that converts mechanical energy into electrical energy in the form of alternating current (AC), primarily used in vehicles to power the electrical system and charge the battery. Starter motors, on the other hand, are electric motors that initiate the engine’s operation by cranking the engine to start combustion. Both components are integral to the functionality and efficiency of modern vehicles.
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The automotive alternator and starter motor market growth is primarily driven by the increasing production and sales of vehicles worldwide. With the automotive sector evolving rapidly, there is a growing emphasis on enhancing vehicle performance and fuel efficiency. This has led to significant advancements in alternator and starter motor technologies, making them more efficient, durable, and compatible with modern vehicles.
Another key factor contributing to automotive alternator and starter motor market demand is the rise in the adoption of electric and hybrid vehicles. These vehicles require highly efficient and reliable starter motors and alternators, tailored to meet the unique demands of electric propulsion. Additionally, the growing trend of vehicle electrification and the implementation of stringent emission norms globally are propelling the demand for advanced automotive alternators and starter motors.
Technological innovations influence the automotive alternator and starter motor market outlook. Manufacturers are increasingly focusing on developing lightweight, compact, and efficient alternators and starter motors that can cater to the evolving needs of modern vehicles. For instance, the integration of start-stop systems in vehicles has led to the development of advanced starter motors capable of handling frequent start-stop cycles efficiently.
Furthermore, the increasing integration of electronics in vehicles has augmented the demand for high-output alternators. These alternators are designed to meet the higher power requirements of advanced infotainment systems, safety features, and other electronic components in modern automobiles.
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Asia Pacific, led by China, Japan, and India, accounts for a significant portion of the automotive alternator and starter motor market share due to the high vehicle production and growing automotive sector in these regions. Europe and North America are also significant markets, characterised by the presence of major automobile manufacturers and high adoption rates of advanced automotive technologies.
Automotive Alternator and Starter Motor Market Segmentation
The market can be divided based on product, technology, starter motor type, vehicle type, sales channel, and region.
Market Breakup by Product
- Starter Motor
- Alternator
Market Breakup by Technology
- Belt Alternator Starter (BAS)
- Enhanced Starter
- Direct-Start
- Integrated Starter Generator (ISG)
Market Breakup by Starter Motor Type
- Electric
- Pneumatic
- Hydraulic
- Others
Market Breakup by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Market Breakup by Sales Channel
- OEMs
- Aftermarket
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Automotive Alternator and Starter Motor Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive alternator and starter motor market. Some of the major players explored in the report by Expert Market Research are as follows:
- Robert Bosch GmbH
- DENSO Corporation
- Mitsuba Corporation
- Lucas TVS Limited
- Mitsubishi Electric Corporation
- Others
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