Automotive Starter and Alternator Market (By Product: Starter Motor, Alternator); By Vehicle Type, By Sales Channel (OEM & Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook and Forecast 2021 - 2028

Published Date : Jun 2021 | No. of Pages : 150+ Pages | Category : Automation and Transport

Global automotive starter and alternator market is expected to grow at a CAGR of 4.7% during the forecast period 2021 to 2028. The automotive starter and alternator market was valued at USD 26 Billion in 2020 and is predicted to reach USD 37.9 Billion by the end of 2028.

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.

Increasing the production and sale of vehicles will drive the growth of the alternator and starter motor market. The increase in demand and sale of hybrid vehicles and the rising adoption of electric vehicles amid environmental concerns air pollution have raised the growth of alternator and starter motor market.

The automotive charging system is consists of mainly three components battery, alternator, and voltage regulator. The alternator works with the battery and produces power for the electrical components like the instrument panel, interior, and exterior lights. An automotive starter motor is used to rotate an engine of the vehicle to initiate the engine's operation under its power. Many recent alternators are installed with built-in regulator circuits that automatically switch power on and off to the rotor coil to regulate the output voltage.

Geographically, Asia Pacific is anticipated to dominate the overall market of automotive starter and alternator during the forecast period. Moreover, Asia Pacific is poised to record fastest growth rate during the forecast period. Rising base of affluent middle class population coupled with increasing sale of automotive vehicles is predicted to trigger the growth of the automotive starter and alternator market in years ahead. According to OICA, in Asia-Pacific, 53,540,607 motor vehicle were produced in 2017. Moreover, Asia Pacific represented a Y-O-Y growth of 3.3% & accounted for 54.5% market share, in the terms of motor vehicle production, as compared to the rest of world. Countries such as China, Japan and India are anticipated to exhibit faster growth rate as compared to other countries in the region. Moreover, major automotive manufacturers are expanding their production facilities in Asian countries. This factor is opening a gateway of opportunities for the domestic and foreign vendors.

Europe automotive starter and alternator market is expected to witness substantial growth over the forecast period. Increasing production of automotive vehicles in the region bodes well for Automotive Starter and Alternator market. In 2017, 22.1 million motor vehicle were produced in Europe as compared to 21.4 million cars in 2016.

Moreover, an increase in demand in starter motor and alternator in the North American region is owing to the increase in the production of vehicles, combined with continued investment in this market. The growing vehicle production globally is expected to increase the demand for alternator and starter motor.

The rising demand for passenger vehicles with a growing standard of living and refining disposable incomes has triggered a critical requirement for these vehicle components in the regions mentioned above.

Segments Insights

The automotive alternator and starter motor market have been segmented by technology type, by product type, by vehicle type, by region.

The automotive alternator and starter market have been segmented into a direct-start, belt alternator starter, enhanced starter, and integrated starter generator. The BAS segment is expected to dominate the market over the forecast period. 

The starter type helps reduce the load on the engine by replacing a conventional engine's serpentine belt with an electric motor. The electric motor serves as both an electricity generator and a starting motor. The integrated starter generator is directly connected to the crankshaft by replacing the alternator and starter motor. Integrated starter generator supplies power to the engine in certain operating conditions, thus reducing the consumption of fuel. Based on starter motor type, the market has been segmented into electric, hydraulic, pneumatic, and others. The different types of electric starter motors are used in the gear reduction ratio, inertia starter, movable pole shoe, and folio-thru drive. Development in technology can lead to the electric starter to dominate the market over the forecast period. The pneumatic starter motor is mainly suitable for diesel engines, and it can be operated by gas or air. The hydraulic starter motor has high torque capacity and is more effective in cold regions as it cranks the engine fast with spark-proof starter operation. 

By vehicle type, the market is segmented as passenger cars, light commercial and heavy commercial vehicles. The presence of alternator and starter motor in all this segment will lead to dominate the market.

Key Players

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.

ASIMCO Technologies Ltd.

Other Key Players

Growth Drivers and Challenges

Growing production of automotive in the world is likely to benefit global automotive starter and alternator market. Moreover, increasing sale of vehicles across the globe fuels the growth opportunities for automotive starter and alternator aftermarket. Further, increasing urbanization and rising disposable income of the population is driving the growth of the automotive industry which in turn, is anticipated to accelerate the growth of the global automotive starter and alternators market.

Increasing spending on automotive in emerging economies such as India and others is anticipated to further open a gateway of opportunities for the growth of the global automotive starter and alternator market in the years ahead. Furthermore, increasing willingness of the consumers to spend more on automobiles is encouraging the manufacturers to spend more on research and development and develop advanced automotive parts. This factor bodes well for the growth of automotive starter and alternator market.

However, increasing demand for electric vehicles is negatively impacting the growth of automotive starter and alternator market.

Market Segmentation

By Product Type

Starter Motor

   Electric

   Pneumatic

   Hydraulic

   Others

Alternator

   Claw Pole Alternator

   Cylindrical Alternator

By Technology Type

Belt Alternator Starter (BAS)

Enhanced Starter

Direct-Start

Integrated Starter Generator (ISG)

By Vehicle Type

Passenger Cars

Light Commercial Vehicle

Heavy Commercial Vehicle

By Sales Channel Type

OEM

Aftermarket


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