The rising adoption of electric vehicles, owing to various environmental concerns about rising levels of automotive emissions, is anticipated to propel the demand within the automotive starter motor and alternator market in the coming years. Furthermore, additional factors, such as rising levels of air pollution, as well as the increasing customer preference for fuel-efficient and lightweight passenger vehicles, are also driving the growth of the automotive starter motor and alternator market. Apart from this, other notable drivers for the expansion of the automotive starter motor and alternator market include an increase in the demand as well as sales of hybrid automotive vehicles, rising production of commercial as well as passenger vehicles, and rising awareness in the general populataboutg to ill impacts of automotive emissions on the environment.
Owing to the rising demand for fuel efficiency, automotive vehicle manufacturers have started developing smaller engines. This has prompted the stakeholders in the automotive starter motor and alternator market to manufacture alternators and starter motors that keep up with emerging trends in miniaturization. The emergence and increasing popularity of new technologies, such as direct start, integrated starter generators or ISGs, enhanced starters, and belt-driven alternators, applied in hybrid and micro-hybrid vehicles, is also expected to favor the growth of the automotive starter motor and alternator market in the coming years.
Increasing sales of two-wheelers, particularly in Asia Pacific, is anticipated to create substantial revenue grab opportunities in the market in the coming years. Additionally, rising efforts by industry players on research and development, to design, develop, and manufacture novel and innovative automotive components and prayer are also expected to favor the growth within the automotive starter motor and alternator market in near future.
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Automotive Starter Motor and Alternator Market Players Focused on M & A and R & D
A few of the dominant manufacturers and players operating in the automotive starter motor and alternator market are BBB Industries LLC, Cummins, Inc., Hitachi Automotive Systems, Ltd., Lucas Electrical Ltd., Mitsuba Corporation, Robert Bosch GmbH, RFL Alternators, Valeo SA, ASIMCO Technologies Ltd., Controlled Power Technologies Ltd., Denso Corporation, Hella KGaA Hueck & Co., Mitsubishi Electric Corporation, Ningbo Zhongwang Auto Fittings Co., Ltd., Remy International, Inc., and Unipoint Electric MFG Co. Ltd., among others. A large number of leading players and manufacturers are operational in the automotive starter motor and alternator market.
Some other key strategies employed by these prominent stakeholders in the automotive starter motor and alternator market include mergers and acquisitions, as well as increasing their investments in research and development activities. In addition to this, the players in the automotive starter motor and alternator market are also focused on expanding their product portfolios by adding new and advanced products.
Asia Pacific Dominates the Automotive Starter Motor and Alternator Market
Asia Pacific region accounted for a major share of the automotive starter motor and alternator market in the recent past. Two key drivers for the expansion and development of the Asia Pacific automotive starter motor and alternator market are fast-pacedaced industrial development in the region, as well as the presence of several developing economies in the region. In addition to this, rising automotive production volume in the region, as well as a growing number of investments aimed at research and development by leading regional players is also supplementing the growth within this regional market.
The Asia Pacific market shows excellent potential for attractive revenue-grab opportunities in the two-wheeler starter motor segment. On the other hand, the increasing demand for luxury and high-end passenger vehicles in the North American region, owing to rising disposable incomes, and elevating standards of living is anticipated to thrust growth in the North American automotive starter motor and alternator market. Players and local original equipment manufacturers in the North American region are boosting their production of car alternators, as well as car start motors.