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An automotive starter is an automotive part used to turn on internal combustion engine and it is accountable 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 battery and power electrical system. Alternator provides power to operate vehicle's ignition, electronics, and lights, and to charge battery. It is one of the most important components in the car charging system that powers engine. Car charging system consists of three main mechanisms, a voltage regulator, an alternator, and a battery. Alternator works with battery to produce power for electrical parts of a vehicle, such as instrument panel and exterior & interior lights. Alternators generate AC power with the help of an electromagnetism mechanism, which is produced through rotor and stator relationship. Reduction in size of engines has encouraged manufacturers to develop starter motors and alternators that are in line with future trends. Different technologies such as improved starters, integrated starter generators, and direct start have been introduced. These technologies find application in micro-hybrid and hybrid vehicles. Promotion of greener vehicles fuel demand for automotive starters and alternators.
Continuous increase in investments in research and development by major market players, coupled with acquisitions and mergers, is expected to enable the global automotive starter and alternator market to flourish in the future. In addition, owing to environmental issues such as increased air pollution, increasing adoption of electric vehicles is expected to further increase demand for the automotive starter and alternator market
COVID-19 Impact analysis
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and made social distancing mandatory to contain spread of the virus. Nationwide blockades forced auto manufacturing facilities to partially or completely shut down their operations, which directly affected the automotive starter and alternator market. Due to these blockades and restrictions, decline in global car sales in 2020 has severely affected sales of global car starter and alternators. Automotive starter and alternator need to be replaced after a certain period of their life cycle and travel restrictions affect the need to replace automotive switches, which has impacted the aftermarket of automotive starter and alternators.
Top Impacting Factors
The automotive starter and alternator market trends are as follows:
Rise in global automobile market
Increase in global automobile production may benefit the global automobile starter and alternator market. In addition, increase in global car sales provides growth opportunities for the automotive starter and alternator market. Moreover, pace of urbanization and increase in the disposable income of population drives expansion of the automotive industry, which is expected to speed up growth of the market. For instance, Valeo S.A. introduced Hybrid4all system. It combines a low powered engine with a conventional combustion engine, reducing up to 15% in fuel consumption, cutting up the carbon dioxide cost per gram compared to a hybrid in the market. It is expected that India and other emerging economies would spend more on automobiles, which is expected to further open doors for growth of the global automotive starter and alternator market.
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Questions answered in the automotive starter & alternator market research report:
Key Market Segments
Key Market Players