Starter Motor Market

The global market for starter motors and dual purpose starter generators is projected to see continued growth over the next eight years, with an anticipated increase in both volume and value. In 2022, there was a slight decrease in consumption for the first time since 2016, but the overall trend has been one of steady growth. The United States remains the largest consumer and importer of these products, while China and Japan also play significant roles in the market. Production and import prices have fluctuated over the years, with some countries experiencing higher growth rates than others. Overall, the market is expected to see steady growth in the immediate future.

Market Forecast

Driven by increasing demand for starter motors and dual purpose starter generators worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 252M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $15B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Starter Motors And Dual Purpose Starter Generators

In 2022, consumption of starter motors and dual purpose starter generators decreased by less than 0.1% to 214M units for the first time since 2016, thus ending a five-year rising trend. The total consumption volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 7% against the previous year. Over the period under review, global consumption hit record highs at 214M units in 2021, and then reduced slightly in the following year.

The global starter motor market value contracted to $10.8B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 when the market value increased by 7.4% against the previous year. Over the period under review, the global market reached the peak level at $10.8B in 2021, and then declined slightly in the following year.

Consumption By Country

The United States (66M units) remains the largest starter motor consuming country worldwide, comprising approx. 31% of total volume. Moreover, starter motor consumption in the United States exceeded the figures recorded by the second-largest consumer, Japan (24M units), threefold. The third position in this ranking was held by China (22M units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume in the United States totaled -1.8%. The remaining consuming countries recorded the following average annual rates of consumption growth: Japan (+1.0% per year) and China (+1.1% per year).

In value terms, the United States ($3.8B) led the market, alone. The second position in the ranking was taken by Japan ($1.1B). It was followed by China.

From 2012 to 2022, the average annual growth rate of value in the United States was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: Japan (-0.6% per year) and China (+1.1% per year).

The countries with the highest levels of starter motor per capita consumption in 2022 were the United States (195 units per 1000 persons), Japan (191 units per 1000 persons) and Mexico (82 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +18.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Starter Motors And Dual Purpose Starter Generators

In 2022, approx. 228M units of starter motors and dual purpose starter generators were produced worldwide; almost unchanged from the year before. The total output volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 7.4% against the previous year. Global production peaked at 231M units in 2021, and then declined slightly in the following year.

In value terms, starter motor production totaled $9.6B in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 6.8%. Over the period under review, global production reached the peak level at $9.8B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (56M units), China (47M units) and Japan (38M units), together accounting for 61% of global production. India, Mexico, South Korea, France, Hungary, Indonesia, the UK, Brazil, Italy and Germany lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +16.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Starter Motors And Dual Purpose Starter Generators

In 2022, supplies from abroad of starter motors and dual purpose starter generators increased by 6.1% to 103M units, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, global imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, starter motor imports expanded sharply to $5.5B in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. Global imports peaked at $5.7B in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the United States (25M units), distantly followed by Mexico (14M units) and Germany (5.8M units) represented the major importers of starter motors and dual purpose starter generators, together committing 43% of total imports. The following importers - Thailand (4.3M units), the UK (3.9M units), Russia (2.9M units), Canada (2.8M units), the Netherlands (2.7M units), Italy (2.4M units), Brazil (2.4M units), Turkey (2.3M units), France (2.3M units) and China (2.3M units) - together made up 27% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Netherlands (with a CAGR of +13.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.5B) constitutes the largest market for imported starter motors and dual purpose starter generators worldwide, comprising 27% of global imports. The second position in the ranking was taken by Mexico ($385M), with a 6.9% share of global imports. It was followed by Germany, with a 6.8% share.

In the United States, starter motor imports expanded at an average annual rate of +2.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+3.3% per year) and Germany (-0.6% per year).

Import Prices By Country

In 2022, the average starter motor import price amounted to $54 per unit, standing approx. at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 13% against the previous year. As a result, import price reached the peak level of $57 per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($74 per unit), while Thailand ($17 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Starter Motors And Dual Purpose Starter Generators

In 2022, approx. 118M units of starter motors and dual purpose starter generators were exported worldwide; rising by 2.8% on 2021 figures. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year. The global exports peaked at 130M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, starter motor exports declined to $5.1B in 2022. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 18%. Over the period under review, the global exports hit record highs at $5.5B in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (27M units), distantly followed by Japan (15M units), the United States (15M units), Mexico (13M units) and South Korea (5.9M units) were the major exporters of starter motors and dual purpose starter generators, together making up 65% of total exports. The UK (5.1M units), India (4.8M units), Thailand (3.6M units), Hungary (3.5M units), Poland (3.4M units), Germany (2.9M units), the Netherlands (2.8M units) and the Czech Republic (2.1M units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +17.4%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest starter motor supplying countries worldwide were China ($767M), the United States ($686M) and Japan ($609M), with a combined 40% share of global exports. Mexico, Germany, South Korea, Hungary, the UK, the Netherlands, Poland, India, the Czech Republic and Thailand lagged somewhat behind, together accounting for a further 44%.

South Korea, with a CAGR of +12.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average starter motor export price stood at $44 per unit in 2022, shrinking by -3.7% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 11%. As a result, the export price attained the peak level of $50 per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($93 per unit), while Thailand ($21 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform