Automotive Starter Motor Market Analysis:
The automotive starter motor market will develop at a 4.55% CAGR between 2017- 2023, according to the new Market Research Future (MRFR) analysis. An automotive starter is used for initiating the operation of a car by rotating the internal combustion engine. Hydraulic, pneumatic, and electric are its different types, while its different components include brush, solenoid, return spring, shift fork, starter drive gear, armature, and others.
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Various factors are propelling the global automotive engine oil coolant sales. As per the MRFR report, such factors include the growing demand for passenger cars, rising demand for M&HCVs for transporting cargo, and increased application in hybrid and electric cars.
On the contrary, the burgeoning demand for electric cars and the current COVID-19 pandemic may hamper the global automotive starter motor market growth over the forecast period.
The Market Research Future Report highlights an inclusive segmental analysis of the global automotive starter motor market based on the vehicle type, engine type, component, and type.
By type, the global
automotive starter motor market is segmented into hydraulic, pneumatic, and electric. Of these, the electric type segment will lead the market over the forecast period for the burgeoning demand for gasoline operated cars.
By component, the global automotive starter motor market is segmented into brush, solenoid, return spring, shift fork, starter drive gear, armature, and others. Of these, the solenoid component segment will dominate the market over the forecast period as it enables large electric current to pass through the starter motor.
By engine type, the global automotive starter motor market is segmented into diesel and gasoline. Of these, the gasoline segment will spearhead the market over the forecast period for the growing production of gasoline-powered commercial and passenger cars.
By vehicle type, the global automotive starter motor market is segmented into commercial car and passenger car. Of these, the passenger car segment will stay at the forefront in the market over the forecast period.
By region, the global automotive starter motor market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Among these, the APAC region will spearhead the market over the forecast period. Growing demand for commercial and passenger cars, increasing investments by OEMs to develop components to cater to the government standard, booming automotive industry, manufacturers expanding their production facilities, growing base of affluent middle-class population, and the presence of top contenders are adding to the global automotive starter motor market growth in the region.
In North America, the global automotive starter motor market is predicted to have the second-largest share over the forecast period. Increasing production of commercial vehicles, continued investment, high disposable income, increasing sales of cars, and growing population are adding to the global automotive starter motor market growth in the region.
In Europe, the global automotive starter motor market is predicted to have sound growth over the forecast period for the rising production of cars.
In the RoW, the global automotive starter motor market is predicted to have steady growth over the forecast period.
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Key contenders profiled in the automotive starter motor market report include Cummins Inc. (U.S.), BorgWarner Inc. (U.S.), Mitsuba Corporation (Japan), Lucas Electrical Limited (U.K.), Remy International, Inc. (U.S.), Unipoint Electric MFG Co., Ltd. (Taiwan), BBB Industries (U.S.), Hella KGaAHueck& Co. (Germany), ASIMCO Technologies Ltd. (China), Mitsubishi Electric (Japan), Hitachi Automotive Systems, Ltd. (Japan), Ningbo zhongwang AUTO Fittings Co.,Ltd. (China), Robert Bosch GmbH (Germany), Denso Corporation (Japan), and Valeo SA (France).
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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