Global Automotive Alternator and Starter Motor Market Report and Forecast 2024-2032

Global Automotive Alternator and Starter Motor Market Outlook

The global automotive alternator and starter motor market is expected to grow at a CAGR of about 3.90% in the forecast period of 2024-2032, driven by the rising automotive industry and the growing vehicle production across the globe.

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Asia Pacific to be a Significant Regional Market for Automotive Alternator and Starter Motor

The Asia Pacific region is estimated to be one of the largest automotive starter motor and alternator markets. The vast population base associated with economic labour, low production costs, and lenient regulations provide enormous opportunities to automakers. Factors like growing vehicle production and sales, growing population, increasing disposable income, and increasing demand for vehicle electrification are driving the market growth in the region. Countries such as India, China, and Japan, are anticipated to exhibit a faster growth rate as compared to other countries in the region. Also, major automotive manufacturers are expanding their production facilities in Asian countries, and this factor is opening a gateway of opportunities for domestic and foreign vendors.

On the other hand, the North American region is anticipated to grow significantly during the forecast period. The market for the product in the North American region is mainly expanding on the back of the rising sale of vehicles in the region, coupled with continuous investment in this market. Furthermore, the high disposable income of the population is believed to positively impact the growth of the automotive starter and alternator market during the forecast period.

Market Segmentation

An automotive starter is a component used to turn on an internal combustion engine and is responsible for its operation when it is running on its power. On the other hand, alternators are the automobile components used to charge the battery and power the electrical system. The alternator powers the vehicle's ignition, electronics, and lights and charges the battery.

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By product, the market includes:

• Starter Motor
• Alternator

The various technologies involved in the market are:

• Belt Alternator Starter (BAS)
• Enhanced Starter
• Direct-Start
• Integrated Starter Generator (ISG)

The different types of starter motors are:

• Electric
• Pneumatic
• Hydraulic
• Others

Based on vehicle type, the market is divided into:

• Passenger Vehicles
• Commercial Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

The different sales channels in the market are:

• OEMs
• Aftermarket

The regional markets for the automotive alternator and starter motor market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Increasing Vehicle Production Propelling the Market Growth

An increase in the production and sale of vehicles is expected to drive the growth of the automotive alternator and starter motor industry. Another factor propelling the demand for starting motors and alternators is the increasing involvement of electrical and electronics components in vehicles, which require more power. Some other factors include the growing demand for vehicles, rising population, increasing disposable income, and rapid urbanisation, which are making headway in the global automotive starter and alternator market growth. In the years ahead, rising automotive spending in emerging economies, including India, is expected to open a new opportunity for the global automotive starter and alternator industry. Consumers' growing willingness to spend more on automobiles encourages manufacturers to invest more in research and development and the creation of innovative automotive parts. Moreover, the increasing adoption of electric vehicles due to environmental concerns, such as rising air pollution, is further anticipated to escalate the demand for automotive starter and alternator market during the forecast period. Increasing preference for lightweight and fuel-efficient vehicles is further projected to escalate the demand for automotive starters and alternators soon.

Key Players in the Global Automotive Alternator and Starter Motor Market

The report gives a detailed analysis of the following key players in the global automotive alternator and starter motor industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Robert Bosch GmbH
• DENSO Corporation
• Mitsuba Corporation
• Lucas TVS Limited
• Mitsubishi Electric Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report