The automotive starting system market is likely to register a CAGR of 6% during the forecast period. The market is anticipated to be valued at US$ 18.28 Bn in 2022 and is likely to achieve figures of US$ 32.74 Bn by 2032.
| Attributes | Details |
|---|---|
| Automotive Starting System Market CAGR (2022 to 2032) | 6% |
| Automotive Starting System Market Value (2022) | US$ 18.28 Billion |
| Automotive Starting System Market Value (2032) | US$ 32.74 Billion |
The automotive starting system market size is growing due to the rising demand for electric vehicles and the rapidly increasing production of other vehicles too during the forecast period. The key manufacturers develop several automotive starting system devices such as hydraulic starters, hand crank starters, and pneumatic starters as per end-users demand.
Moreover, the automotive starting system includes several components such as a switch, starter motor, battery and solenoid. These components play a key role in providing power to a vehicle and are likely to increase the demand for automotive starting systems in the automotive industry. On the other hand, growing technologies reduced C02 emissions, and increasing efficiency in vehicles are accelerating the demand as per the global automotive starting system market report.
Based on vehicle types, the market is categorized into PC (Passenger Cars), LCV (Light Commercial Vehicles), and HCV (Heavy Commercial Vehicles). PC (Passenger Cars) dominate the market by contributing the maximum share in the market during the forecast period. Rising numbers of passengers, a growing population, and growing disposable income are increasing the demand for passenger cars during the forecast period.
Passenger cars include several advanced features that attract end-users demand and are flourishing in the market size in recent years. Some of the modern features, including sensors, push-buttons, computer-controller starters, and remote starting, are likely to increase the adoption of passenger cars.
On the other hand, LCVs (Light Commercial Vehicles) and HCV (Heavy Commercial Vehicles) are also capturing a significant share of the global market during the forecast period. Light commercial vehicles include an electric automotive starting system which is more convenient, powerful and efficient. Moreover, it takes less time to get installed, surging the demand for LCVs in recent years. However, HCV takes minimum time to start the engine and smoothly function with its electric starters are growing the market size during the forecast period.
Based on region, the market is segmented into North America, Europe, Asia Pacific, MEA and Latin America. The Asia Pacific dominates the market by capturing the maximum share during the foreseen time. The countries such as India, China and South Korea are the hub of the automotive industry during the forecast period. The growing infrastructure and presence of key manufacturers are surging the market size in the region.
Automation is the need of the hour as the automotive industry growth is subsequently high, the need for advanced technologies and provision of smart features are playing as a vital role in the growth of automotive industry. Automotive starting system are considered as the heart of the vehicle.
Automotive starting system is a combination of mechanical and electrical components that works together to start the vehicle engine. In an automotive starting system, the electrical energy from the battery power converts into mechanical energy resulted into cranking the engine.
The starting system consists of housing, field coils, an armature, a commutator and brushes, end frames and a solenoid operated shift mechanism. Automotive starter enables the safe and hassle free start or ignition of the vehicle engine.
Over the last decade various companies are indulged in the continuous research and developments to make the automotive starter systems more superior and user friendly over the manual starting system in order to enhance the functionality and durability of automotive starting systems and tap the demand for technologically advanced automotive starting systems market, which is fostering the growth for global automotive starting system market.
The aftermarket for the automotive starting system is also contributing to the growth of global automotive starting systems market. Overall, the global automotive starting systems market is anticipated to register a healthy CAGR over the forecast period.
The global automotive starting system market is primarily driven by the demand of vehicles with premium features such as automation in starting system. Moreover, the automotive market growth rate has shown significant elevation after the global recession of 2007 to 2009 in terms of production and demand, which in turn is driving the global market for automotive starting system.
The need for technologically advanced automotive starting systems capable of increasing the fuel efficiency and reduced CO2 emissions in the vehicles are also having a positive impact on the global automotive starting systems market.
However, the volatile costs related to the production of the automotive starting systems can pose as a restraint to the global automotive starting systems market.
The global automotive market is segmented into seven regions: North America, Latin America, Western Europe, and Eastern Europe, APEJ, Japan and Middle East and Africa. Among the aforementioned regions, the APEJ market dominates the global automotive starting system market.
The countries as such China, India, and South Korea being the major hub for automobile market in the region is fostering the growth for automotive starting system market in the region. The Latin America and Western Europe market for automotive starting system is followed by the APEJ market in terms of market share.
The developing regions and under developed regions like Middle East and Africa are also expected to show modest growth rates over the forecast period with growth of automotive aftermarket in the regions. Overall the automotive starting system is expected to register healthy growth over the forecast period.
Some of the key players identified in the global automotive starting system market includes:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Explore Similar Insights
Automotive Starting System Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
