New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Starter Motor And Alternator Global Market Report 2023" - https://www.reportlinker.com/p06464030/?utm_source=GNW
, Mitsubishi Electric Corporation, ASMICO Technologies Ltd., Cummins Inc., BBB Industries, Remy International Inc., and RFL Alternators.
The global automotive starter motor and alternator market is expected to grow from $29.71 billion in 2022 to $31.24 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive starter motor and alternator market is expected to reach $37.59 billion in 2027 at a CAGR of 4.7%.
The automotive starter motor and alternator market consists of sales of hydraulic, and pneumatic starters.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An automotive starter motor is an electrical device that is used to turn on internal combustion engines using a considerable amount of current. An alternator generates an alternative current that is used to charge a battery that charges the electric systems of the vehicles.
Asia-Pacific was the largest region in the automotive starter motor and alternator market in 2022. The regions covered in the automotive starter motor and alternator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of automotive starter motors and alternators are electric starter motors, and gear reduction starter motors.An electric starter motor refers to an electrical device used to securely initiate and stop a motor.
The various technologies include belt-driven starter motor and alternator, enhanced starter, integrated starter generator (ISG), and direct start. The various power output includes 1.0 KW-3.0 KW, 3.0 KW-5.0 KW, and 5.0 KW and above. The various vehicle types include internal combustion engines (ICE), hybrids, and others. They are sold through various sales channels such as original equipment manufacturer (OEM), and aftermarket.
The rise in global automotive production is expected to propel the growth of the automotive starter motor and alternator market going forward.Automotive refers to all forms of mobile machinery, including automobiles, trucks, buses, vans, motorbikes, and golf carts.
An automotive starter motor and alternator are used in an automobile to charge the battery and supply power to the vehicle’s electrical system, by transforming the electricity into mechanical energy, on which engines and machines run. For instance, in April 2022, according to the European Automobile Manufacturers Association, a Europe-based organization, the global automotive production was 79.1 million, a 1.3% increase over 2020. Therefore, rise in the global automotive production is driving the automotive starter motor and alternator market.
Technological advancements are a key trend gaining popularity in the automotive starter motors and alternator market.Major companies operating in automotive starter motors and alternators are introducing innovative technologies to sustain their position in the market.
For instance, in March 2020, Autoelectro, a UK-based remanufacturer of starters, motors, and alternators introduced three new ranges of starter motors that incorporate stop-start technology.Modern stop-start starter motors work in tandem with the vehicle engine control system.
Using stop-start technology, the car enters standby mode while stopped at a signal or in a line of traffic so it can restart quickly once the accelerator is depressed. In addition to enhancing fuel efficiency, the stop-start system also lowers emissions to help vehicle makers comply with stringent government regulations.
In May 2021, Ideanomics, Inc., a US-based manufacturer of electric vehicles, acquired US Hybrid for an undisclosed amount. The acquisition is yet another significant step in Ideanomics’ goal to lower greenhouse gas emissions from commercial fleets through cutting-edge EV technologies and innovative alliances. US Hybrid is a US-based manufacturer of traction motors.
The countries covered in the automotive starter motor and alternator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive starter motor and alternator market research report is one of a series of new reports that provides automotive starter motor and alternator market statistics, including automotive starter motor and alternator industry global market size, regional shares, competitors with an automotive starter motor and alternator market share, detailed automotive starter motor and alternator market segments, market trends and opportunities, and any further data you may need to thrive in the automotive starter motor and alternator industry. This automotive starter motor and alternator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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