Global Automotive Starter and Alternator Market: by Product (Starter Motor, Alternator), by Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), by Sales Channel (OEM, Aftermarket) - Forecast to 2030
Overview
The Automotive Starter and Alternator Market size was valued at USD 28.69 Billion in 2023 and the total Automotive Starter and Alternator revenue is expected to grow at a CAGR of 4.15% from 2024 to 2030, reaching nearly USD 38.15 Billion.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Automotive starter is an engine part, used to turn on internal combustion engine and it’s responsible for ignition of any vehicle. Automotive starter can be electric, hydraulic and pneumatic. Also, alternators refer to an automotive part which is used to charge the battery and power the electrical system.
Global Automotive Starter and Alternator Market is mainly driven by factors such as increasing sale of automotive across the globe coupled with rising disposable income, which are making headway for the growth of the global automotive starter and alternator market. Moreover, rising production and sale of hybrid vehicles is anticipated to positively impact the growth of the market.
However, the hybrid vehicles use internal combustion engine hence they have eliminated the use of starters and alternators which is likely to restrain the growth of the automotive starter motor and alternator market. By vehicle type, automotive starter and alternator market is segmented into passenger vehicle, light commercial vehicle and heavy commercial vehicle. Out of these types, passenger vehicle is expected to dominate the overall automotive starter and alternator market at a CAGR of xx% over the forecast period.
By geography, Global Automotive Starter and Alternator Market is segmented into Asia Pacific, North America, Europe, MEA & Africa and Latin America. APAC is expected to dominate the automotive starter motor and alternator market over forecast period thanks to the emerging economies and rapid industrial development. The manufacturers of automotive starters and alternators are expanding their businesses to emerging economies like China, India, Russia, etc. as these countries are focused on development of automotive sectors in order to serve the rising demand across the globe.
Key companies operating in this market are Automotive Starter motor and alternator Market report are Bosch, Hitachi Automotive, Mitsubishi Electric, Denso, Valeo, Hella, Controlled Power Technologies, Lucas Electrical, Mitsuba, Motorcar Parts Of America. These players are adopting various Greenfield and Brown filed growth strategies to such as joint ventures, Strategic alliances, partnership, private equity, cost cutting, innovation, leadership and principled governance to enhance their business operations, revenues and regional presence. Moreover, the rising investments on R&D by key players in the market coupled with acquisitions and mergers is expected to make the global automotive starter and alternator market flourish over the forecast period.
The objective of the report is to present a complete calculation of the Global Automotive Starter and Alternator Market and contains thoughtful insights, historical data, facts, industry-validated market data and plans with a suitable set of assumptions and methodology. The report also helps in the Global Automotive Starter and Alternator Market is a dynamic structure by identifying and analysing the market segments and project the global market size.
The additional, report also focuses on the competitive analysis of key player’s by-product, financial position, price, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Automotive Starter and Alternator Market.
Scope of the Global Automotive Starter and Alternator Market: Inquire before buying
| Global Automotive Starter and Alternator Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 28.69 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 4.15% | Market Size in 2030: | USD 38.15 Bn. |
| Segments Covered: | by Product | Starter Motor Alternator |
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| by Vehicle Type | Passenger Vehicle Light Commercial Vehicle Heavy Commercial Vehicle |
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| by Sales Channel | OEM Aftermarket |
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Global Automotive Starter and Alternator Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Global Automotive Starter and Alternator Market, Key Players are
1. Bosch
2. Hitachi Automotive
3. Mitsubishi Electric
4. Denso
5. Valeo
6. Hella
7. Controlled Power Technologies
8. Lucas Electrical
9. Motorcar Parts of America
10. Prestolite Electric
11. Remy International, Inc.
12. Wonder Auto Technology Inc.
13. Cummins, Inc.
14. ASIMCO Technologies Ltd
15. DB Electrical
16. Powermaster
17. Sawafuji Starter Motor
18. Mitsuba Starter Motor
19. Ford Starter Motor
20. Delco Remy Starter Motor
21. Prestolite Starter Motor
22. Nikko Starter Motor
23. Iskra Starter Motor
24. Magenton Starter Motor
Frequently Asked Questions:
1. Which region has the largest share in Global Market?
Ans: Asia Pacific region held the highest share in 2023.
2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 4.15% during forecasting period 2024-2030.
3. What is scope of the Global Market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Market?
Ans: The important key players in the Global Market are – Bosch, Hitachi Automotive, Mitsubishi Electric, Denso, Valeo, Hella, Controlled Power Technologies, Lucas Electrical, Motorcar Parts of America, Prestolite Electric, Remy International, Inc., Wonder Auto Technology Inc., Cummins, Inc., ASIMCO Technologies Ltd, DB Electrical, Powermaster, Sawafuji Starter Motor, Mitsuba Starter Motor, Ford Starter Motor, Delco Remy Starter Motor, Prestolite Starter Motor, Nikko Starter Motor, Iskra Starter Motor, Magenton Starter Motor.
5. What was the Global Automotive Starter and Alternator Market size in 2023?
Ans: The Global Automotive Starter and Alternator Market size was USD 28.69 Billion in 2023.