According to the "Analysis of Development Trends and Future Investment Research Report of China's Automotive Starter Industry from 2024 to 2029", the global automotive starter and AC generator market sales reached 20.39 billion US dollars in 2023, and are expected to reach 26.3 billion US dollars by 2030, with a compound annual growth rate of 3.6%. Based on this, it can be inferred that the global automotive starter market will show an overall growth trend in the next five years. The following is a specific analysis:
Growth factors
-Stability and Renewal Demand in the Traditional Fuel Vehicle Market: In the next five years, traditional fuel vehicles will still occupy a certain share in the global automotive market, and with the acceleration of car upgrades, even in developed economies with relatively stable car ownership, such as the United States and some European countries, the demand for starter replacement will continue to grow due to the shortened cycle of car scrapping and renewal.
-The development of new energy vehicles brings new opportunities: With the rapid development of new energy vehicles, the demand for high-performance and high reliability starters is also constantly increasing. For example, the advanced starter technology in the 48 volt mild hybrid system not only enables the engine to start quickly and silently, but also provides auxiliary power during vehicle operation, effectively reducing fuel consumption and exhaust emissions. The market share of new energy vehicle starters in North America and Europe is approximately 30% to 35%, and is expected to continue to grow in the coming years.
-Growth in demand from emerging market countries: With the rapid development of emerging economies and the continuous improvement of people's living standards, the demand for automobiles continues to be strong, which will drive the expansion of the automotive starter market. Many car brands are increasing their production layout in emerging market countries, and the increase in car production will inevitably drive the demand for starter motors.
Restrictive factors
-The market share of traditional fuel vehicles is declining: With increasingly strict environmental requirements, the automotive industry is developing towards a greener and low-carbon direction, which may lead to a gradual decline in the market share of traditional fuel vehicles, while the proportion of new energy vehicles continues to rise, thus causing a certain impact on the traditional starter industry that relies on the internal combustion engine market.
-Intensifying market competition: The influx of emerging starter manufacturers may intensify market competition, leading to a redistribution of market share and potentially squeezing the profit margins of enterprises, thereby affecting the growth rate of market size.
