According to a new market research report “Global Start-Stop Technology Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Product (Enhanced Starter, Belt-Driven Alternator Starter, Direct Starter and Integrated Starter Generator) published by P&S Market Research, the global start-stop technology market is projected to reach $7,058.0 million by 2022, growing at a CAGR of 18.8% during 2016 - 2022.
Global start-stop technology market worth $2,100.2 million in 2015
The study suggests that the global start-stop technology market is likely to grow from $2,100.2 million in 2015 to $7,058.0 million by 2022. Stringent emission control norms, increasing need for fuel efficient vehicles and increasing adoption of hybrid vehicles are that factors that are expected to drive the demand for start-stop technology over the forecast period.
Access Report Overview: https://www.psmarketresearch.com/market-analysis/start-stop-technology-market
Insights on market segments
As per the findings of research, the enhanced starter was the largest contributor to the global start-stop technology market in 2015, in terms of volume and value; however, the integrated starter generator is expected to witness the highest growth, during the forecast period in terms of volume and value.
Enhanced starter and integrated starter generator-based start-stop systems are expected to dominate the market in future, and are expected to be used widely in passenger cars. Enhanced starter and integrated starter generator are more cost-effective and fuel efficient clean energy technologies as compared to direct starter and belt-driven alternator starter technologies.
Europe stands as the largest start-stop technology market
Geographically, Europe has been the largest market for start-stop technology, where the U.K. has been the largest contributor to the regional market. China is the major market in the Asia-Pacific region, while the U.S. remains the highest revenue generator in the North American Market. In the Rest of the World, Brazil was the largest market in the Latin American and the Middle-East and African countries.
Increasing need for fuel efficient vehicles bolsters market growth
The factors driving the growth of the market include increasing need for fuel efficient vehicles and stringent emission control norms globally. In North America, Environmental Protection Agency (EPA) introduced emission standards for cars and light trucks. According to the target set by EPA, the permissible emission from a passenger car should not exceed 225 grams per mile (g/mi) in 2016. The planned permissible emission limits for passenger cars is 143 g/mi for 2025 in North America. Additionally, the permissible combined fuel economy for cars and trucks was 35.5 miles per gallon (mpg) for 2016, which is expected to increase up to 54.5 mpg by 2025 in North America. According to the government regulation in Europe, the average emission level from new cars reduced by 160 grams per kilometer (g/km) during 2006 - 2012. The regulation requires reducing the emission levels from new cars to 95 g/km by 2020. Such stringent regulations have resulted in increasing use of start-stop technology by automobile manufacturers.
Additionally, the Organization of the Petroleum Exporting Countries (OPEC) imposed new regulations on its members and restricted the production and export of crude oil. Such initiative has a negative impact on the crude supply to the developing countries including India, Brazil and China which mainly rely on crude imports. These imports could be reduced by increasing fuel efficiency in vehicles through the use of start-stop technology, which leads to its increased demand.
The key trend observed in the global start-stop technology market is the adoption of clean energy across the globe. Start-stop technology provides the advantage of reduced emissions over other technologies.
Top six players account for major market share
The research states that the global start-stop technology market had a consolidated structure in 2015, where the top six competitors accounted for a major share of the market. Some of the key players in the global market include Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Johnson Controls, Inc, Hitachi, Ltd., Mitsubishi Electric Corporation, Valeo SA, and BorgWarner Inc.
GLOBAL START-STOP TECHNOLOGY MARKET SEGMENTATION