Automotive Starter Motor Market Size was valued at USD 0.09 Billion in 2022. The automotive starter motor market industry is projected to grow from USD 0.094 Billion in 2023 to USD 0.133 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2023 - 2032). The key market drivers driving the expansion can be ascribed to the rising demand for hybrid and electric vehicle batteries, both of which need stronger starters and replacement parts over time owing to wear and tear. Additionally, the expansion of automotive starters and alternators is facilitated by innovation, technical advancement, and an increase in foreign direct investment (FDI), which presents a potential opportunity for the market.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The market CAGR for automotive starter motor is anticipated to grow in the future due to the increase in worldwide auto manufacturing. All mobile machinery, including cars, trucks, buses, vans, motorcycles, and golf carts, is referred to as automotive. In order to power the vehicle's electrical system and charge the battery, an automotive starter motor convert electrical energy into mechanical energy, which drives machines and engines. For instance, the global vehicle output in April 2022 was 79.1 million, up 1.3% from the previous year, according to the European Automobile Manufacturers Association, an organisation with its headquarters in Europe. As a result, the market for automotive starter motors is being driven by an increase in worldwide vehicle production.
Furthermore, the automotive starter motor market is experiencing growth as a result of technological advances. To keep up with competition, major manufacturers of vehicle starting motors and alternators are adopting cutting-edge technologies. For instance, in March 2020, Autoelectro, a remanufacturer of starters, motors, and alternators with headquarters in the UK, unveiled three new lines of starter motors with stop-start technology. Contemporary stop-start starter motors function in concert with the vehicle's engine management system. The automobile uses stop-start technology to go into standby mode when it is at a stoplight or in a queue of traffic so it can start up rapidly when the pedal is pressed. In addition to improving fuel economy, the stop-start system also reduces emissions to assist automakers in adhering to strict regulatory rules.
Additionally, growing economies like India's give several opportunities for market participants to expand their businesses. India and other developing and developed nations are anticipated to spend more on cars due to new technology, manufacturing investment in R&D, and the creation of innovative automotive parts. Over the course of the forecast, this is expected to have a positive impact on the worldwide automotive starter motor market. However, India has emerged as the highly preferred location for the automobile sector. Government organisations in a number of nations seek to maintain environmental sustainability through advancing the automotive sector through the use of electric and hybrid automobiles. Nevertheless, despite several initiatives, there is still a sizable market for internal combustion engine-powered cars, especially for commercial cars like those used in mining and transportation infrastructure. This points to profitable growth potential for automotive starter motors in developing economies. Thus, driving the automotive starter motor market revenue.
The Automotive Starter Motor market segmentation, based on component includes armature, starter drive gear, shift fork, return spring, solenoid and brush. The solenoid segment dominated the market because it enables the starter motor to get a significant electric current.
The Automotive Starter Motor market segmentation, based on engine type, includes diesel engine and gasoline engine. The gasoline engine category generated the most income because more gasoline-powered passenger and commercial vehicles are being produced.
Figure 1 Automotive Starter Motor Market, by Engine Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Automotive Starter Motor market segmentation, based on type, includes electric, pneumatic and hydraulic. The electric category generated the most income. The gear reduction ratio, inertia starting, movable pole shoe, and folio-thru drive all require various types of electric starter motors. The electric starter may dominate the market during the forecast period as a result of technological advancement.
The Automotive Starter Motor market segmentation, based on vehicle type, includes passenger car and commercial vehicle. The passenger car category generated the most income. This is due to an increase in the number of young people worldwide, a rise in the demand for automobiles, and rising disposable income. Additionally, the desire for quick-moving consumer items is driving up the use of large and light commercial trucks for commodities transportation. In turn, this greatly accelerates the expansion of this market.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American automotive starter motor market area will dominate this market because of the expansion in automotive production and ongoing investment in this industry. The need for automotive starter motors is anticipated to rise with increasing car manufacturing around the world. Additionally, there is a pressing need for these vehicle components in the aforementioned locations due to the increasing demand for passenger cars brought on by improving living standards and a refinement of disposable incomes.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 Automotive Starter Motor Market Share By Region 2022 (Usd Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe automotive starter motor market accounts for the second-largest market share. The market expansion in the region is being driven by elements including rising vehicle production and sales, rising population, rising disposable income, and rising desire for vehicle electrification. Additionally, major automakers are expanding their production facilities in Europe, which is creating new opportunities for both domestic and international vendors. Further, the German automotive starter motor market held the largest market share, and the UK automotive starter motor market was the fastest growing market in the European region
The Asia-Pacific Automotive starter motor Market is expected to grow at the fastest CAGR from 2023 to 2032 because the region's automobile industry is expanding. The market is influenced by a number of variables, including rising consumer demand for practical modes of transportation, an expanding population, and an increase in disposable income. Fast industrial development and rising economies in nations like China and India are thought to be the main factors driving this market's expansion in the Asia Pacific region. Moreover, China’s automotive starter motor market held the largest market share, and the Indian automotive starter motor market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the automotive starter motor market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, automotive starter motor industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Automotive Starter Motor industry to benefit clients and increase the market sector. In recent years, the automotive starter motor industry has offered some of the most significant advantages to market. Major players in the automotive starter motor market attempting to increase market demand by investing in research and development operations include Valeo SA (France), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Ningbo zhongwang AUTO Fittings Co.Ltd. (China), Hitachi Automotive Systems Ltd. (Japan), Mitsubishi Electric (Japan), ASIMCO Technologies Ltd. (China), Hella KGaA Hueck & Co. (Germany), BBB Industries (U.S.), Unipoint Electric MFG Co.Ltd. (Taiwan), Remy International Inc. (U.S.), Lucas Electrical Limited (U.K.), Mitsuba Corporation (Japan), BorgWarner Inc. (U.S.) and Cummins Inc. (U.S.).
Global, family-owned HELLA GmbH & Co KGaA designs and produces lighting and electronic solutions for the automotive industry. The business also creates products for speciality vehicles. Additionally, it offers diagnostics, services, and vehicle components. It offers cutting-edge electronic and lighting products to municipalities, energy providers, and construction machines manufacturers. For auto-mobile manufacturers, it produces headlamps, rear combination lamps, automobile body, and interior illumination items.
Automotive manufacturer and distributor MITSUBA Corporation produces and sells electronic parts for vehicles. The company sells a variety of products, including front and rear wiper systems, windscreen washer systems, power windows, power seat, roof, sliding door and door lock actuators, as well as lighting systems, power relay, horns, fuel tank lid openers and driving motor products. Additionally, it provides a range of services, including information processing, software development, system integration, transportation, warehousing, and business outsourcing.
April 2022 BBB Industries, a producer of automobiles and a supplier of aftermarket services, announced the purchase of Budweg Calliper A/S. The deal includes all aspects of the business concept. With this acquisition, BBB now has access to its first green production plant in Europe, making it the sixth European acquisition made by the company since 2019. BBB Industries was able to grow in the European market as a result of this acquisition.
May 2021 US Hybrid was purchased by US-based electric car maker Ideanomics, Inc. for an unknown sum. With the help of cutting-edge EV technologies and creative partnerships, Ideanomics hopes to reduce greenhouse gas emissions from commercial fleets. The acquisition is yet another important step in that direction. A US-based producer of traction motors is called US Hybrid.
March 2020 Three new starter motors from Autoelectro's lineup feature stop-start technology. Several Range Rover vehicles as well as the Seat Exeo and Mitsubishi Colt employ the motors.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.09 Billion |
| Market Size 2023 | USD 0.094 Billion |
| Market Size 2032 | USD 0.133 Billion |
| Compound Annual Growth Rate (CAGR) | 4.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Type, Engine Type, Vehicle Type and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Valeo SA (France), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Ningbo zhongwang AUTO Fittings Co.Ltd. (China), Hitachi Automotive Systems Ltd. (Japan), Mitsubishi Electric (Japan), ASIMCO Technologies Ltd. (China), Hella KGaA Hueck & Co. (Germany), BBB Industries (U.S.), Unipoint Electric MFG Co.Ltd. (Taiwan), Remy International Inc. (U.S.), Lucas Electrical Limited (U.K.), Mitsuba Corporation (Japan), BorgWarner Inc. (U.S.) and Cummins Inc. (U.S.) |
| Key Market Opportunities | Increasing vehicle production |
| Key Market Dynamics | Development in electric vehicles Stringent regulations on fuel emissions |
Automotive starter Motor Market Highlights:
Frequently Asked Questions (FAQ) :
The Automotive Starter Motor market size was valued at USD 0.09 Billion in 2022.
The global market is projected to grow at a CAGR of 4.50% during the forecast period, 2023-2032.
North America had the largest share in the global market.
The key players in the market are Valeo SA (France), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Ningbo zhongwang AUTO Fittings Co.Ltd. (China), Hitachi Automotive Systems Ltd. (Japan), Mitsubishi Electric (Japan), ASIMCO Technologies Ltd. (China), Hella KGaA Hueck & Co. (Germany), BBB Industries (U.S.), Unipoint Electric MFG Co.Ltd. (Taiwan), Remy International Inc. (U.S.), Lucas Electrical Limited (U.K.), Mitsuba Corporation (Japan), BorgWarner Inc. (U.S.) and Cummins Inc. (U.S.).
The electric category dominated the market in 2022.
The passenger car category had the largest share in the global market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
