The growing awareness related to environmental sustainability and the technological advancements & development in driving technology are anticipated to drive the growth of the global start stop technology market during the forecast period. The Asia-Pacific region is projected to hold a major market share by 2032.
WILMINGTON, Del., Feb. 1, 2024 /PRNewswire/ — Allied Market Research has recently published a report, titled, “Start Stop Technology Market By Type and Application: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global Start stop technology market generated $1.8 billion in 2022, and is anticipated to generate $3.5 billion by 2032, rising at a CAGR of 7.7% from 2023 to 2032.
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115 – Tables
49 – Charts
320 – Pages
Prime Determinants of Growth
The increased automotive OEM adoption, improved fuel efficiency & emissions reductions, and the rising awareness regarding environmental sustainability are the factors expected to drive the growth of the global Start stop technology market in the forecast period from 2023 to 2032. However, the impact on overall driving experience and the high initial cost of start stop technology may hamper market growth in the coming future. On the contrary, the continued advancements in start-stop technology, including the development of more efficient and reliable systems are expected to offer remunerative opportunities for the expansion of the start stop technology market during the forecast period.
Report Coverage and Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$1.8 billion |
|
Market Size in 2032 |
$3.5 billion |
|
CAGR |
7.7 % |
|
No. of Pages in Report |
320 |
|
Segments Covered |
Type, Application, and Region |
|
Drivers |
Rising awareness regarding environmental sustainability |
|
Improved fuel efficiency and emissions reduction Increased automotive OEM adoption |
|
|
Opportunities |
Market penetration in emerging markets Technological advancements |
|
Restraints |
High initial cost and the impact on the overall driving experience |
COVID-19 Scenario:
The COVID-19 pandemic outbreak had a significant impact on the global start stop technology market’s growth due to the lockdowns and mobility restrictions, which led to a notable reduction in overall driving activity. With fewer vehicles on the road and decreased urban congestion, the anticipated fuel savings from start-stop systems were not as substantial.
Additionally, numerous car manufacturing facilities worldwide experienced temporary closures or reduced production capacities due to lockdowns and containment measures aimed at curbing the spread of the virus. This has implications for both automobile production and the incorporation of start-stop technology.
Belt-Driven Alternator Starter (BAS) Sub-Segment to Hold Major Market Share By 2032
The belt-driven alternator starter (BAS) sub-segment accounted for the largest global start stop technology industry share of 34.4% in 2022 and is expected to continue to dominate in terms of largest market share by 2032. This is mainly because belt-driven alternator starter allows for instant engine restarts, which guarantees a smooth transition from idle to motion. This smooth and quick restart is essential in city driving, where frequent starts and stops are required. The belt-driven alternator starter alleviates strain on engine components by providing a smoother and more controlled start, thereby extending the engine’s lifespan. This contributes significantly to enhancing the overall reliability and longevity of vehicles equipped with start-stop systems.
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Crystalline Solar Films Sub-Segment to Observe Significant Growth During the Forecast Period
The passenger sub-segment of the global market accounted for the highest share of 63.5% in 2022 and is projected to rise at the highest CAGR of 7.9% during the forecast period. One of the primary driving factors driving the use of start-stop technology in passenger vehicles is fuel efficiency. Automatically shutting off the engine when the vehicle is stationary significantly reduces fuel consumption. Besides, advancements in battery technology is also critical to the broad deployment of start-stop systems in passenger vehicles.
Asia-Pacific Market to Witness Substantial Growth By 2032
The start stop technology market in the Asia-Pacific region accounted for the largest share of 34.7% in 2022 and is predicted to be dominant in terms of market share during the forecast period. This growth can be attributed to various factors, such as stringent emissions regulations and fuel efficiency standards set by government bodies, increasing environmental awareness among consumers, and improved fuel efficiency offered by start stop technology. Besides, the growing consumer preference for vehicles equipped with advanced technology features, including start-stop systems, fuels market demand.
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Leading Players in the Start Stop Technology Market:
Robert Bosch GmbH
DENSO Corporation
Johnson Controls
Valeo
Delphi Automotive LLP
Continental AG
AISIN SEIKI Co., Ltd.
BorgWarner Inc.
Hitachi automotive systems, Ltd.
The report provides a detailed analysis of the key players of the global Start stop technology market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the start stop technology growth projections from 2022 to 2032 to identify the prevailing start stop technology market opportunity
The report provides exclusive and comprehensive analysis of the global start stop technology market overview along with the start stop technology companies.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the start stop technology market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The start stop technology market report includes the analysis of the regional as well as global start stop technology market trends, key players, market segments, application areas, and market growth strategies.
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