Vehicle Starter Motor Market

Vehicle Starter Motor Market

The global vehicle starter motor market is estimated to projected growth at a CAGR of around 5% to 6% CAGR during the forecast period 2022-2032. The demand for vehicle starter motors is expected to total US$ 9 Bn by the end of 2032, in comparison to the US$ 6 Bn registered in the years 2021.

Report Attribute	Details
Vehicle Starter Motor Market Base Year Value (2021)	US$ 6 Billion
Vehicle Starter Motor Market Expected Value (2022)	US$ 6.5 Billion
Vehicle Starter Motor Market Anticipated Value (2032)	US$ 9 Billion
Vehicle Starter Motor Market Projected Growth Rate (2022-2032)	5% to 6% CAGR

Vehicle starter motors also referred to as cranking motors or self-starters are automotive components that are used to rotate an internal-combustion engine to initiate or start the operation of the engine on its own power. These cranking motors can be of various types such as pneumatic, electric, or hydraulic.

Which are Some Prominent Drivers Spearheading Vehicle Starter Motor Market Growth

Before the introduction of vehicle starter motor technology, earlier automotive engines were started by using other techniques such as wind-up springs, gunpowder cylinders, and human-powered systems, to name a few. With the introduction of advanced starter technologies such as electric, flou-thru drive, and gear reduction, among others, these starters are increasingly being used to convert electrical energy stored in the battery into mechanical energy in order to start modern engines.

These cranking motors are also finding applications across newly introduced automotive vehicles such as electric and hybrid vehicles. This is projected to bolster the sales of vehicle starter motors in the global market.

What are the Challenges Faced by the Vehicle Starter Motor Market

Governments in several countries are implanting stringent rules and regulations for the incorporation of fuel-efficient components to curb carbon emissions. Hence, leading automotive manufacturers are undertaking numerous efforts for developing and upgrading their component technologies, including integrated starter generators. This is likely to hamper the sales of vehicle starter motors in the market over the coming years.

Why is North America Emerging as an Opportunistic Vehicle Starter Motor Market

Future Market Insights reveals that North America is expected to account for the dominant share in the global vehicle starter motors market between 2022 and 2032.

A significant rise in production and sales of automobiles, such as passenger cars, is being witnessed across North America, driven by the growing domestic incoming and rising preference towards comfort traveling, creating demand for automotive components.

For instance, according to the Bureau of Transportation Statistics, approximately 1.92 Mn passenger cars were manufactured and around 2.56 Mn cars were reported to be sold across the U.S. in 2020. This rise in sales of automotive vehicles is anticipated to propel the demand for automotive components such as vehicle starter motors, thereby, bolstering the growth in the North America market.

How is Western Europe Contributing to the Growth of the Vehicle Starter Motor Market

As per FMI, Western Europe is expected to emerge as a highly remunerative market for vehicle starter motors over the forecast period 2022-2032.

With increasing sales of automotive vehicles and growing older vehicular fleet, a swift rise in demand for automotive components is being witnessed. Therefore, key automotive components are aiming at collaboration and partnership with other players to capitalize on the existing opportunity.

For instance, in 2018, Knorr-Bremse TruckServices, A German automotive aftermarket specialist announced entering into a partnership with a prominent supplier of starter motors and generators for commercial vehicles SEG Automotive to expand its product portfolio of starter motors and generators. Such developments are anticipated to favor the growth in the Western Europe market.

Market Competition

Some of the leading players in the vehicle starter motors market are Denso Corporation, BorgWarner Inc., Lucas Electrical Limited, Ningbo zhongwang AUTO Fittings Co., Ltd., ASIMCO Technologies Ltd., SEG Automotive, Mitsuba Corporation, BBB Industries, SEG Automotive, Robert Bosch GmbH, and others.

The global market for vehicle starter motor is highly competitive, due to large number of participants and increasing adoption collaboration, partnership, and acquisition strategies to strengthen the market share.

Scope of Report

Report Attribute	Details
Growth Rate	CAGR of 5% to 6% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015-2020
Forecast Period	2022-2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Type Component Engine Type Vehicle Type Sales Channel Region
Countries Covered	North America Latin America Western Europe Eastern Europe APEJ Japan Middle East and Africa
Key Companies Profiled	Denso Corporation BorgWarner Inc. Lucas Electrical Limited Ningbo zhongwang AUTO Fittings Co., Ltd. ASIMCO Technologies Ltd. SEG Automotive Mitsuba Corporation BBB Industries Robert Bosch GmbH
Customization	Available Upon Request

Key Segments Profiled in the Vehicle Starter Motor Market Survey

By Type:

• Electric
• Flou-Thru Drive
• Gear Reduction
• Movable Pole Shoes
• Inertia Starters
• Pneumatic
• Hydraulic

By Component:

• Armatures
• Starter Drive Gears
• Shift Forks
• Return Springs
• Solenoids
• Brushes
• Others

By Engine Type:

• Diesel Engines
• Gasoline Engines

By Vehicle Type:

• Passenger Cars
• Heavy Commercial Vehicles (HCVs)
• Light Commercial Vehicles (LCVs)

By Sales Channel:

• Original Equipment Manufacturers (OEMs)
• Aftermarket

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa