Global Truck Starter Motor Market Overview
As per MRFR analysis, the Truck Starter Motor Market Size was estimated at 2.74 (USD Billion) in 2022. The Truck Starter Motor Market Industry is expected to grow from 2.83 (USD Billion) in 2023 to 3.8 (USD Billion) by 2032. The Truck Starter Motor Market CAGR (growth rate) is expected to be around 3.34% during the forecast period (2024 - 2032).
Key Truck Starter Motor Market Trends Highlighted
Key market drivers shaping the growth of the Truck Starter Motor Market include the rising demand for improved fuel efficiency and emission control in trucks, increasing adoption of automated and autonomous trucking systems, and growing investments in infrastructure development.Opportunities for market expansion lie in the development of advanced starter motor technologies such as lightweight and durable designs, the integration of electric motors into starter systems, and the adoption of fuel-efficient starter motors. Additionally, the growing popularity of electric and hybrid trucks is expected to drive demand for specialized starter motors compatible with these alternative powertrains.Recent trends in the Truck Starter Motor Market include the increasing focus on reducing vehicle downtime and improving overall efficiency, the integration of starter motors with other vehicle systems for enhanced performance, and the adoption of cloud-based monitoring and diagnostic technologies for predictive maintenance. By addressing these evolving trends and leveraging the opportunities presented, manufacturers can gain a competitive edge and meet the evolving demands of the Truck Starter Motor Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Truck Starter Motor Market Drivers
Rising Global Demand for Trucks
The global truck market is estimated to grow considerably in the forthcoming years based on the rising demand for carrying goods and the development of infrastructure. As the demand for trucks grows, the need for reliable and effective starter motors will increase as well, causing the growth of the Truck Starter Motor Market Industry. In particular, it will be developing countries that will add to the growing demand for trucks launching investment in the development of infrastructure and industrialization in order to facilitate the growth of their economies.Moreover, the demand for trucks will directly impact the Truck Starter Motor Market Industry as the need for high-quality starters adapted to different trucks will increase with the growth of truck production.
Technological Advancements in Starter Motors
Truck Starter Motor Market Industry Overview The Truck Starter Motor Market Industry is witnessing tremendous growth, and manufacturers are heavily investing in R to introduce innovative, advanced truck starter motors. The considerable pace of the industry is largely attributed to the advent of advanced technology, which focuses on enhancing and upgrading the performance, efficiency, and durability of starter motors. Truck starter motors that have emerged as the world’s best offer superior cranking power and are lightweight and compact, fuel-efficient, and extremely reliable.Many truck manufacturers and end-users prefer the advanced starter motor and have gained significant traction in the market.
Increasing Focus on Vehicle Electrification
The increasing shift towards vehicle electrification is opening new avenues for the Truck Starter Motor Market Industry. With the growing popularity of electric vehicles and hybrid electric vehicles in the automotive industry, the demand for durable and highly efficient starter motors capable of meeting the specific needs of electric powertrains is on the rise. The starter motors are used to get the engine started in addition to delivering supplementary power in the case of hybrid electric vehicles.Given that the demand for electric and hybrid electric trucks is mounting considerably, particularly in regions where the norms for vehicle emissions are stringent, this industry is likely to witness substantial development in the future.
Truck Starter Motor Market Segment Insights
Truck Starter Motor Market Type Insights
The Truck Starter Motor Market is segmented by type into Remanufactured Starter Motors, New Starter Motors, End of Life Starter Motors, and Rebuilt Starter Motors. Among these segments, the New Starter Motors segment is expected to hold the largest market share in 2023, owing to the increasing demand for new trucks and the replacement of old starter motors. The Remanufactured Starter Motors segment is expected to witness the highest growth rate during the forecast period due to the growing popularity of remanufactured products and their cost-effectiveness compared to new starter motors.
The End of Life Starter Motors segment is expected to account for a significant share of the market in 2023, as a large number of trucks reach the end of their lifespan and require replacement starter motors. The Rebuilt Starter Motors segment is expected to hold a small share of the market in 2023, as rebuilt starter motors are typically used in older trucks and are less popular than remanufactured starter motors. The Truck Starter Motor Market is expected to grow at a CAGR of 3.34% during the forecast period, owing to the increasing demand for trucks and the rising popularity of remanufactured starter motors.The market is expected to reach a value of USD 3.8 billion by 2032, up from USD 2.83 billion in 2023.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Truck Starter Motor Market Voltage Insights
The Truck Starter Motor Market segmentation by voltage includes 12V, 24V, 36V, 48V, 72V, and 80V. Among these, the 12V segment held the largest market share in 2023, accounting for over 50% of the global revenue. This dominance is attributed to the extensive use of 12V batteries in light-duty trucks. However, the 24V segment is anticipated to witness the fastest growth over the forecast period, owing to the rising adoption of heavy-duty trucks, which typically require higher voltage systems. By 2032, the 24V segment is projected to capture a significant market share, driven by increasing urbanization and industrialization, leading to a surge in heavy-duty truck sales.
Truck Starter Motor Market Application Insights
The application segment of the Truck Starter Motor Market is categorized into light duty trucks, medium duty trucks, heavy duty trucks, and off-highway vehicles. The heavy duty trucks segment held the largest market share in 2023, accounting for around 40% of the Truck Starter Motor Market revenue. This is due to the increasing demand for heavy-duty trucks in various industries such as construction, mining, and transportation. The off-highway vehicles segment is expected to exhibit the highest growth rate during the forecast period, owing to the rising popularity of off-highway vehicles for recreational and commercial purposes.The Truck Starter Motor Market is expected to witness significant growth in the coming years, driven by factors such as increasing demand for trucks in emerging economies, technological advancements, and stringent emission regulations.
Truck Starter Motor Market Drive System Insights
The Drive System segment of the Truck Starter Motor Market is categorized into Electric Drive, Hydraulic Drive, and Pneumatic Drive. Electric Drive held the largest market share in 2023, and it is projected to continue its dominance throughout the forecast period. The increasing adoption of electric vehicles and the growing demand for fuel-efficient trucks are driving the growth of the Electric Drive segment. Hydraulic Drive is another significant segment, owing to its advantages such as high power density and reliability. Pneumatic Drive, on the other hand, is expected to witness a steady growth rate during the forecast period due to its low cost and ease of maintenance.The Truck Starter Motor Market revenue for the Drive System segment is projected to reach USD 1.2 billion by 2024, exhibiting a CAGR of 3.6% from 2023 to 2032.
Truck Starter Motor Market Starter Motor Type Insights
The Truck Starter Motor Market is segmented by Starter Motor Type into Permanent Magnet Starter Motors, Electromagnetic Starter Motors, and Hybrid Starter Motors. The Permanent Magnet Starter Motors segment is expected to hold the largest market share in 2024, owing to its high efficiency and reliability. The Electromagnetic Starter Motors segment is expected to witness a steady growth rate during the forecast period due to their low cost and simple design. The market growth is attributed to the increasing demand for trucks in emerging economies, the rising popularity of electric vehicles, and the growing adoption of advanced starter motor technologies.
Truck Starter Motor Market Regional Insights
The regional segmentation of the Truck Starter Motor Market offers valuable insights into the geographical distribution of market growth and opportunities. North America is projected to lead the market with a significant share, driven by the presence of major truck manufacturers and favorable government regulations. Europe follows closely, with a mature market and increasing demand for advanced starter motors. The APAC region is expected to witness the highest growth rate, fueled by rapid industrialization and infrastructure development in countries like China and India.South America and MEA are emerging markets with potential for growth as the adoption of modern trucking technologies increases.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Truck Starter Motor Market Key Players And Competitive Insights
Major players in the Truck Starter Motor Market industry are constantly striving to gain a competitive edge by introducing innovative products and services. Leading Truck Starter Motor Market players are focusing on developing lightweight and compact starter motors with high efficiency and durability. Technological advancements, such as the integration of electric motors and starter-generators, are driving Truck Starter Motor Market development. The competitive landscape of the Truck Starter Motor Market is characterized by a mix of established players and emerging companies. Strategic partnerships, acquisitions, and collaborations are common among industry participants to strengthen their market position.
DENSO Corporation, a leading company in the Truck Starter Motor Market, is known for its advanced starter motor technology and global presence. The company offers a wide range of starter motors for various truck applications, including heavy-duty, medium-duty, and light-duty trucks. DENSO's commitment to innovation and quality has earned it a strong reputation in the industry. The company is actively involved in research and development to enhance the performance and efficiency of its starter motors.
Delphi Technologies, a competitor in the Truck Starter Motor Market, specializes in the design, development, and manufacture of starter motors and other automotive components. The company's starter motors are known for their reliability, durability, and cost-effectiveness. Delphi Technologies has a strong global presence and serves a diverse customer base. The company is committed to providing innovative solutions that meet the evolving needs of the truck industry. Through strategic partnerships and collaborations, Delphi Technologies aims to expand its market reach and maintain its competitive position.
Key Companies in the Truck Starter Motor Market Include
- Denso Corporation
- Hitachi Astemo, Ltd.
- Valeo SA
- Johnson Electric Holdings Limited
- GKN Automotive
- Continental AG
- Nikko Denso Co., Ltd.
- Remy International, Inc.
- Hyundai Mobis Co., Ltd.
- Mando Corporation
- Bosch Automotive Products (Shanghai) Co., Ltd.
- Hella KGaA Hueck Co.
- STMicroelectronics N.V.
- Prestolite Electric Inc.
- Mitsubishi Electric Corporation
Truck Starter Motor Market Industry Developments
The Truck Starter Motor Market is projected to reach USD 3.8 billion by 2032, exhibiting a CAGR of 3.34% during the forecast period. The market growth is attributed to the rising demand for commercial vehicles, particularly in emerging economies. Additionally, the increasing adoption of automated driving systems and the growing focus on fuel efficiency are driving the demand for advanced starter motors. Key market players are investing in research and development to enhance starter motor performance and durability. The market is witnessing the emergence of new technologies, such as integrated starter generators and electric starter motors, which offer advantages in terms of weight reduction, space optimization, and improved fuel economy. Recent developments include partnerships between major automotive manufacturers and technology providers to develop and integrate advanced starter motor solutions into commercial vehicles.
Truck Starter Motor Market Segmentation Insights
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Truck Starter Motor Market Type Outlook
- Remanufactured Starter Motors
- New Starter Motors
- End of Life Starter Motors
- Rebuilt Starter Motors
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Truck Starter Motor Market Voltage Outlook
-
Truck Starter Motor Market Application Outlook
- Light Duty Trucks
- Medium Duty Trucks
- Heavy Duty Trucks
- Off-Highway Vehicles
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Truck Starter Motor Market Drive System Outlook
- Electric Drive
- Hydraulic Drive
- Pneumatic Drive
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Truck Starter Motor Market Starter Motor Type Outlook
- Permanent Magnet Starter Motors
- Electromagnetic Starter Motors
- Hybrid Starter Motors
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Truck Starter Motor Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.74 (USD Billion) |
| Market Size 2023 |
2.83 (USD Billion) |
| Market Size 2032 |
3.8 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.34% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Denso Corporation, Hitachi Astemo, Ltd., Valeo SA, Johnson Electric Holdings Limited, GKN Automotive, Continental AG, Nikko Denso Co., Ltd., Remy International, Inc., Hyundai Mobis Co., Ltd., Mando Corporation, Bosch Automotive Products (Shanghai) Co., Ltd., Hella KGaA Hueck Co., STMicroelectronics N.V., Prestolite Electric Inc., Mitsubishi Electric Corporation |
| Segments Covered |
Type, Voltage, Application, Drive System, Starter Motor Type, Regional |
| Key Market Opportunities |
Increasing electric vehicle adoption Growing demand for heavy-duty trucks Technological advancements Government regulations on emissions Rising demand for aftermarket parts and services |
| Key Market Dynamics |
Increased trucking activities, rising demand for fuel-efficient vehicles, growing adoption of electric trucks, proliferation of aftermarket parts, technological advancements in starter motors |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Truck Starter Motor Market is estimated to reach USD 3.8 billion by 2032, growing at a CAGR of 3.34% from 2024 to 2032.
North America is expected to account for the largest market share in the Truck Starter Motor Market, owing to the increasing demand for trucks in developing countries such as Canada and the US.
The key growth drivers for the Truck Starter Motor Market include rising demand for trucks, increasing adoption of electric vehicles, and growing focus on fuel efficiency.
Some of the major competitors in the Truck Starter Motor Market include Denso, Bosch, Valeo, Hitachi, and Mitsubishi Electric.
Truck starter motors are used in various applications, including long-haul transportation, construction, and mining.
Some of the key trends in the Truck Starter Motor Market include the increasing adoption of electric starter motors and the growing focus on lightweight and compact designs.
The Truck Starter Motor Market faces challenges such as the high cost of raw materials and the increasing competition from alternative technologies.
The Truck Starter Motor Market is expected to grow at a CAGR of 3.34% from 2024 to 2032.
The key factors driving the growth of the Truck Starter Motor Market include the increasing demand for trucks, the growing adoption of electric vehicles, and the increasing focus on fuel efficiency.
The potential opportunities for growth in the Truck Starter Motor Market include the development of new technologies, the expansion into new markets, and the increasing demand for aftermarket parts.
