LONDON--(BUSINESS WIRE)--The global truck starter motor market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global truck starter motor market is the rising penetration of start-stop systems in trucks. Vehicle manufacturers to equip trucks with advanced technologies such as start-stop systems, thanks to the increased need for fuel efficiency in trucks. The start-stop technology shuts down the engine when the vehicle is stationary, which decreases the fuel consumption during vehicle idling. The increasing preference for fuel-efficient trucks is expected to drive the adoption of start-stop systems in trucks and subsequently drive market growth during the forecast period.
This market research report on the global truck starter motor market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of integrated starter-generators as one of the key emerging trends in the global truck starter motor market:
Global truck starter motor market: Development of integrated starter-generators
Integrated starter-generators are increasingly being developed by vendors to eliminate the use of starter motors, belt, and pulley coupling system, slip rings, and brushes used in wound rotor alternators as well as incorporate faster control of generator voltage during load dumps. Most vehicles are equipped with a system that includes a starter motor and an alternator as two separate components. The integrated starter-generator functions as an electric motor and starts an internal combustion engine considerably faster and soundlessly than a conventional starter motor. Technavio expects that the rising adoption of hybrid vehicles will drive vehicle makers to introduce advanced models of integrated starter-generators, which will replace alternators and starter motors in hybrid vehicles.
“Apart from the rising penetration of start-stop systems in trucks, factors such as the growing demand for mini trucks, and the increasing demand for heavy-duty trucks are expected to fuel the growth of the global truck starter motor market during the forecast period,” says a senior analyst at Technavio for research on automotive components.
Global truck starter motor market: Segmentation analysis
This market research report segments the global truck starter motor market by application (light-duty trucks and medium- and heavy-duty trucks) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2018 with a market share of close to 59%, followed by APAC and EMEA respectively. The Americas region will continue to dominate the market with the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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