Automotive Starter Motor Market Information Report by Type (electric, pneumatic, and hydraulic), Component (armature, starter drive gear, shift fork, return spring, solenoid, brush, and others), Engine Type (diesel engine and gasoline engine), Vehicle Type ( passenger car and commercial vehicle), and Region- Forecast 2023
— A report on the global automotive starter motor market 2020 has hit stands after a sudden strike of novel coronavirus globally. This study by Market Research Future is based on different aspects of growth rate, revenue, leading players, regions, and forecast. The study reveals that the overall market would get bigger post the pandemic at an increased pace owing to the invention of the new dynamism, which is making rapid progress in the market’s growth, mainly from the years 2017-2023.
Some of the top market players in the automotive starter motor market are listed as Denso Corporation (Japan), Valeo SA (France), Ningbo zhongwang AUTO Fittings Co., Ltd. (China), Robert Bosch GmbH (Germany), Mitsubishi Electric (Japan), Hitachi Automotive Systems, Ltd. (Japan), BBB Industries (U.S.), Hella KGaA Hueck & Co. (Germany), Lucas Electrical Limited (U.K.), Remy International, Inc. (U.S.), BorgWarner Inc. (U.S.), Mitsuba Corporation (Japan), and Cummins Inc. (U.S.).
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Top Impacting Factors
By witnessing the sudden COVID 19 pandemic, the market seeks billion in the forecasted period owing to the rising vehicle production and mounting vehicle electrification. These are considered as the foremost factors propelling the growth of the global automotive starter motor market. It is primarily that the mergers and acquisitions of several key manufacturers of automotive starter motors that are anticipated to fuel the automotive starter motor market in the near future.
Some more essential factors responsible for the growth of the automotive starter motor market are attributed to the improvement of advanced technology, rise in the demand for passenger and commercial vehicles, and stringent government regulations for emission. The augment in demand for passenger and commercial vehicles mainly in emerging countries, will swell the fixing of starter motor in the vehicles. The electric starter motor is in towering demand due to stringent government regulation for emission.
MRFR also indicates that there have been various developments in starter motor by automotive manufacturers, globally. The advanced starter motor includes several automatic starts and stop options in the vehicles. This emerging development in the start and stop technology allows the driver to stop the vehicle automatically. This has resulted in the growth of the market.
Furthermore, the latest technology advancement in the automotive industry and have resulted in starter motor with an undying magnet or a series of parallel wound direct current electric motor. In the case of point, Bosch had developed a new 24-volt starter motor portfolio: the HEF109-L for heavy-duty vehicles. This has surged the capability of the starter motor, which resulted in increased demand for the market in the future. In recent times, various starters are used for different vehicles, mainly in gasoline and diesel vehicles. Thus, the gasoline engine is anticipated to boost the starter motor market in the future. All these factors have been accountable for the global automotive starter motor market to soar high valuation in the forecasted period.
Segmentation of Market
The Automotive starter motor market and its study keeping COVID 19 pandemic in focus have been segmented over various segments such as type, component, engine type, and vehicle type.
In terms of type segment, the market has included pneumatic, electric, and hydraulic. Electric starter motor segments might lead the market in the forecasted period owing to a rise in demand for gasoline operated vehicles. There have been growing sales of passenger and commercial vehicles operated by gasoline in emerging countries, which has made changes in increase the demand for installation of electric starter motor in the future.
In terms of component segment, the market has included starter drive gear, armature, return spring, shift fork, brush, solenoid, and others. Solenoid segment is likely to lead the market during the forecast period as it allows enormous electric current pass through the starter motor.
In terms of engine segment, the market has included gasoline and diesel. The gasoline segment might lead the market during the forecast period owing to a rise in gasoline-powered passenger and commercial vehicles production.
Regionally, the global market of the automotive starter motor is studied among regions that are profoundly impacted due to coronavirus. The regions are Asia Pacific, North America, Europe, and Rest of the World.
Among these, the Asia Pacific region might lead the automotive starter motor market owing to a boost in demand for passenger and commercial vehicles. The expansion of passenger and commercial vehicles will result in high demand for the installation of different types of starter motors in vehicles. The OEMs in promising countries are investing heavily in the development of components that meet the government standard. The surged investment by the manufacturers will result in mounting a production of the starter motor.
While, on the other hand, the region of North America might also be the second-largest market owing to a surge in the production of commercial vehicles. Commercial vehicles require the use of pneumatic and hydraulic starter motor, which will upsurge the demand for starter motor in North America.
Scope of Report
The report for Global Automotive Starter Motor Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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Name: Abhishek Sawant
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Organization: Market Research Future (MRFR)
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