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Hi Torque Starter Motors Market Segmented By vehicle type such as passenger car, light commercial vehicle (LCV), and heavy commercial vehicle (HCV) with sales channel such as original equipment manufacturers (OEM) and aftermarket
A hi torque starter motor is an advance type of starter motor that is witnessing rapid growth opportunities as a replacement for the conventional starter motor. Hi torque starter motors have beneficial parameters, such as a high-speed motor, compact size, and a set of reduction gears.
A hi torque starter motor weighs less and is small as compared to conventional starter motors, and thus it operates at a high speed. Therefore, efforts by original equipment manufacturers to manufacture fuel-efficient and lightweight vehicles are estimated to boost the demand for hi torque starter motors.
The rise of advanced technology adoption in automotive vehicles by key manufacturers is estimated to support growth of the hi torque starter motors market. Moreover, automotive vehicle production has been a prime growth factor for the global hi torque starter motors market.
The global hi torque starter motors market is estimated to witness effects of macroeconomic factors, such as rising disposable income, rising standard of living, and rapid urbanization. These factors will amount toward contribution of high demand for passenger vehicles, which, in turn, will have a positive impact on the overall market.
The growing focus towards eco-friendly solutions for vehicles to tackle the rising pollution levels is estimated to drive the demand for electric vehicles, which in turn is projected to augment demand for the global hi torque starter motors market over the forecast period.
Key manufacturers focus on development and adoption of light and efficient starter motors, which is estimated to spur the global hi torque starter motors market. Moreover, manufacturers are shifting production plants or establishing new ones in emerging automotive markets to capitalize on the growing demand for automobiles and benefit from the low capital and labor costs in these regions.
Automotive component markets in countries, such as China, India, Indonesia, Brazil, and Mexico are projected to benefit significantly from the demand for aftermarket and OEM products, which in turn is expected to be beneficial for the hi torque starter motors market.
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Drivers:
Factors, such as increasing electrification of vehicles and stringent emission control regulations in various regions, such as Europe and North America are estimated to drive growth of the global hi torque starter motors market.
Key growth drivers for this market are growth in automotive demand, production and vehicle parc. The increasing focus of manufacturers to improve fuel efficiency of vehicles and increase the average miles travelled per year is estimated to fuel growth of the global hi torque starter motors market.
Restraints:
The global hi torque starter motor market is estimated to be hampered by the high adoption rate of hybrid vehicles, which do not require a separate starter motor.
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Get a Customized VersionThe global hi torque starter motors market is primarily segmented on the below factors:
The Asia-Pacific hi torque starter motors market is estimated to remain dominant over the forecast period, owing to its major share in automotive production and vehicle parc. Countries, such as China, India, Japan and South Korea are estimated to be growth drivers in the Asia-Pacific market.
The Asia-Pacific region is estimated to witness high growth opportunities, owing to the presence of fast growing economies, such as India, and China, and the growing vehicle production in these regions. Japan hi torque starter motors market is estimated to register stable growth over the forecast period, owing to comparatively high advance technology development and adoption rate.
Additionally, factors such as relatively low vehicle production costs, GDP, growing personal disposable income and government initiatives towards FDI are estimated to support growth of the Asia-Pacific hi torque starter motors market.
The Europe hi torque starter motors market is estimated to witness optimistic growth, owing to high investment by the automotive sector in research and development activities. In the North America hi torque starter motors market, Canada is estimated to show positive growth over the forecast period; however, the U.S. is projected to dominate the market.
Furthermore, Latin America and MEA are expected to register relatively fast growth over the forecast period.
Examples of some of the market participants identified in the global hi torque starter motors market are:
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It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
