Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Automotive Starter and Alternator Market Overview
Automotive starter is an automotive part, used to turn on internal combustion engine and it’s responsible 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 the battery and power the electrical system.
Market Size and Forecast
Global automotive starter and alternator market is expected to grow at a CAGR of 4.6% during the forecast period i.e. 2018-2027. The automotive starter and alternator market was held to be USD 25.1 Billion in 2017 and is anticipated to garner USD 37.6 Billion by the end of 2027. Factors such as increasing sale of automotive across the globe coupled with rising disposable income are making headway for the growth of the global automotive starter and alternator market. Moreover, rising production and sale of hybrid vehicles is anticipated to positively impact the growth of the market.
Geographically, Asia Pacific is anticipated to dominate the overall market of automotive starter and alternator during the forecast period. Moreover, Asia Pacific is poised to record fastest growth rate during the forecast period. Rising base of affluent middle class population coupled with increasing sale of automotive vehicles is predicted to trigger the growth of the automotive starter and alternator market in years ahead. According to OICA, in Asia-Pacific, 53,540,607 motor vehicle were produced in 2017. Moreover, Asia Pacific represented a Y-O-Y growth of 3.3% & accounted for 54.5% market share, in the terms of motor vehicle production, as compared to the rest of world. Countries such as China, Japan and India are anticipated to exhibit faster growth rate as compared to other countries in the region. Moreover, major automotive manufacturers are expanding their production facilities in Asian countries. This factor is opening a gateway of opportunities for the domestic and foreign vendors.
Europe automotive starter and alternator market is expected to witness substantial growth over the forecast period. Increasing production of automotive vehicles in the region bodes well for Automotive Starter and Alternator market. In 2017, 22.1 million motor vehicle were produced in Europe as compared to 21.4 million cars in 2016.
Further, North America region is anticipated to grow at significant rate during the forecast period. The market of North America region is mainly expanding on the back of the increasing sale of vehicles in the region. Further, high disposable income of the population is believed to positively impact the growth of automotive starter and alternator market during the forecast period.CLICK TO DOWNLOAD FREE SAMPLE
Based on vehicle type, automotive starter and alternator market is segmented into passenger cars, light commercial vehicle and heavy commercial vehicle, out of which, passenger cars is expected to dominate the overall automotive starter and alternator market during the forecast period.
Market Segmentation
Our-in depth analysis of the global automotive starter and alternator market includes the following segments:
By Product
By Vehicle Type
By Sales Channel
By Region
The global automotive starter and alternator market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Growing production of automotive in the world is likely to benefit global automotive starter and alternator market. Moreover, increasing sale of vehicles across the globe fuels the growth opportunities for automotive starter and alternator aftermarket. Further, increasing urbanization and rising disposable income of the population is driving the growth of the automotive industry which in turn, is anticipated to accelerate the growth of the global automotive starter and alternators market.
Increasing spending on automotive in emerging economies such as India and others is anticipated to further open a gateway of opportunities for the growth of the global automotive starter and alternator market in the years ahead. Furthermore, increasing willingness of the consumers to spend more on automobiles is encouraging the manufacturers to spend more on research and development and develop advanced automotive parts. This factor bodes well for the growth of automotive starter and alternator market.
However, increasing demand for electric vehicles is negatively impacting the growth of automotive starter and alternator market.
Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global automotive starter and alternator market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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