The latest market report published by Credence Research, Inc. “Global Automotive Start-Stop System Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The global automotive start-stop system market generated revenue of around USD 22546.5 million in 2022 and is anticipated to grow a CAGR of over 5.8% during the forecast period from 2023 to 2030 to reach around USD 33456.3 million in 2030.
Due to increased fuel prices, consumers want fuel-efficient cars, driving the automotive start-stop system industry. Gasoline prices are rising, making traditional car fuels unaffordable. Fuel prices have increased global demand for fuel-efficient cars. To boost fuel efficiency, manufacturers have to make lighter, start-stop automobiles. Start-stop systems are expected to develop globally as fuel pollution concern grows. Due to expanding automotive industry development, fuel-efficient hybrid vehicles, economic growth, and global disposable income, automobile, and motorbike sales have surged, propelling the automotive start-stop system market. Start-stop systems boost engine production and fuel efficiency. Gasoline costs have skyrocketed, increasing demand for fuel-efficient start-stop systems. Regulatory organizations globally advise Automakers to focus on start-stop systems to meet fuel efficiency goals.
The global automotive start-stop system market is bifurcated into components, vehicle type, and geography. Based on components, the market is categorized into engine control unit, 12v dc converter, battery, neutral position sensor, wheel speed sensor, crankshaft sensor, and alternator. On the basis of vehicle type, the global market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2022, Europe dominated the global automotive start-stop system market and accounted for a major market revenue share in terms of value. The most stringent laws imposed by the government to lower emissions of greenhouse gases have led to the highest adoption rate of electric vehicles. Also, despite the current prices of electric vehicles, the electrification of automobiles has been helped by government incentives for EVs and higher levels of discretionary spending in this region. Due to these reasons, market expansion in Europe is gaining momentum.
The Automotive Start-Stop System Market opportunities are vast and varied, presenting a potential boon to automobile manufacturers and consumers alike. With the increasing demand for fuel-efficient vehicles, start-stop systems have become an attractive option for automotive companies seeking to meet stringent emissions regulations while simultaneously appealing to cost-conscious consumers. These systems work by automatically shutting down the engine when the vehicle comes to a stop, such as at traffic lights or in heavy traffic. Upon releasing the brake pedal, the engine restarts seamlessly, resulting in reduced fuel consumption and lower emissions.
The automotive start-stop system market is expected to experience significant growth worldwide due to several factors:
- Increasing demand for fuel-efficient vehicles: Fuel efficiency is becoming more important in the automotive industry as governments worldwide impose stricter fuel economy standards. Start-stop systems can help improve fuel efficiency by automatically shutting off the engine when the vehicle is stopped, and restarting it when the driver releases the brake.
- Growing adoption of electric vehicles: Electric vehicles are becoming more popular worldwide, and many electric vehicles use start-stop systems to help conserve battery power. As the adoption of electric vehicles continues to grow, the demand for start-stop systems in these vehicles is also expected to increase.
- Emphasis on reducing emissions: Governments worldwide are imposing stricter emissions standards, and automakers are under pressure to reduce the emissions of their vehicles. Start-stop systems can help reduce emissions by automatically shutting off the engine when the vehicle is stopped, and restarting it when the driver releases the brake.
- Technological advancements in start-stop system technology: Start-stop system manufacturers are constantly innovating to improve the performance and efficiency of their products. For example, some manufacturers are developing start-stop systems that can operate at higher temperatures and with more frequent start cycles, which can help improve reliability and durability.
- Increasing demand for advanced driver assistance systems (ADAS): ADAS technology is becoming more widely adopted in the automotive industry, as it can help improve safety, convenience, and comfort. Start-stop systems are a key component of many ADAS systems, which is driving the demand for this technology.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global automotive start-stop system market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global automotive start-stop systems market segmentation based on components and vehicle type.
- Major countries in each region with their import/export statistics
- The global automotive start-stop system market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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