Automotive Starter and Alternator Market Overview
Automotive starter is an automotive part, used to turn on internal combustion engine and it’s responsible for engine operation under its own power. Automotive starter can be electric, hydraulic and pneumatic. Alternators refer to an automotive part which is used to charge the battery and power the electrical system.
Market Size and Forecast
Global automotive starter and alternator market is expected to grow at a CAGR of 4.6% during the forecast period i.e. 2018-2027. The automotive starter and alternator market was held to be USD 25.1 Billion in 2017 and is anticipated to garner USD 37.6 Billion by the end of 2027. Factors such as increasing sale of automotive across the globe coupled with rising disposable income 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.
Asia Pacific captured the largest market share in overall automotive starter and alternator market and is expected to continue its dominance over the forecast period. Rising production of vehicle in the region is anticipated to aid the growth of the market. Further, increasing disposable income coupled with rising demand for premium vehicles is expected to accelerate the growth of automotive market in the upcoming years. North America and Europe automotive starter and alternator market is anticipated to witness lucrative growth during the forecast period. Moreover, Latin America is anticipated to grow at modest CAGR during the forecast period. Further, growing automotive industry and expansion of manufacturing base in the region is anticipated to drive the growth of the automotive starter and alternator in Latin America.
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Robust Growth of Automotive Industry
Growing global population coupled with increasing per capita income is anticipated to bolster the growth to the automotive industry in the upcoming years. As a result, the demand for automotive parts such as automotive starter and alternator is anticipated to witness significant growth in the upcoming years.
Growth of Automotive Component Aftermarket
The manufacturers of automotive parts are aggressively working on the expansion their aftermarket business. Further, increasing sale of automotive vehicles is believed to complement the growth of automotive starter and alternator aftermarket.
Although, rising demand for electric vehicle is likely to dampen the growth of automotive starter and alternator market during the forecast period.
The report titled “Automotive Starter and Alternator Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2027) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global automotive starter and alternator market in terms of market segmentation by product, by vehicle type, by sales channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive starter and alternator market which includes company profiling of Robert Bosch GmbH, Denso Corporation, Hitachi Automotive Systems, Ltd., Valeo SA, Mitsuba Corporation, Hella KGAA Hueck & Co., Lucas Electrical, Mitsubishi Electric Corporation, Controlled Power Technologies Ltd. and ASIMCO Technologies Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive starter and alternator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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