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.
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.
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.
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.
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.
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.
| 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 |
|
| Countries Covered |
|
| Key Companies Profiled |
|
| Customization | Available Upon Request |
By Type:
By Component:
By Engine Type:
By Vehicle Type:
By Sales Channel:
By Region:
FMI projects the sales of vehicle starter motor in the market is expected to rise at 5% to 6% value CAGR by 2032
The market for vehicle starter motor is dominated by North America, and this trend is projected to continue in the foreseeable future.
Denso Corporation, BorgWarner Inc., Lucas Electrical Limited, Ningbo zhongwang AUTO Fittings Co., Ltd., ASIMCO Technologies Ltd., Mitsuba Corporation, BBB Industries, SEG Automotive, Robert Bosch GmbH, are some prominent vehicle starter motor manufacturers.
Explore Similar Insights
Vehicle Starter Motor Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
