Market Size of Automotive Starter Motor Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 15.63 Billion |
| Market Size (2029) | USD 20.35 Billion |
| CAGR (2024 - 2029) | 4.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Starter Motor Market Analysis
The Automotive Starter Motor Market size is estimated at USD 15.63 billion in 2024, and is expected to reach USD 20.35 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).
Over the medium term, with rising strict emission standards around the globe, auto manufacturers are progressively shifting their production from conventional engine vehicles to electric and hybrid. As vehicles running in micro-hybrid and hybrid vehicles use starter motors, the increase in the number of passenger cars running on this powertrain is expected to drive the market.
Stringent emission standards, fuel efficiency, and government incentives are the major factors driving automakers and buyers to shift toward hybrid vehicles from conventional vehicles. Rising demand for fuel-efficient vehicles across the region is encouraging consumers to buy hybrid vehicles, which is likely to witness major growth for the market during the forecast period.
The rapid expansion of manufacturing industries is likely to create lucrative opportunities for the market during the forecast period. As still majorty of vehicles rely on IC engines, it is expected to remain the demand is growing over the medium to log run.
