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Key companies covered are Continental AG, Denso Corporation, Delphi Technologies PLC, Robert Bosch GmbH, BorgWarner Inc., Hitachi Ltd. and more players.
The globalautomotive start stop systems marketsize is projected to reach USD 50.88 billion by the end of 2026. The increasing demand for low-fuel consuming and high efficiency products will aid market growth. According to a report published by Fortune Business Insights, titled“Automotive Start-Stop System Market Size, Share, and Global Trend By Component Type (Engine Control Unit, 12V DC Converter, Battery, Neutral Position Sensor, Wheel Speed Sensor, Crankshaft Sensor, and Alternator). By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), and Geography Forecast till 2026,”the market was worth USD 20.09 billion in 2018 and will exhibit a CAGR of 12.4% during the forecast period, 2019-2026.
An automotive start-stop system is a system that is used for detecting the condition of a vehicle during traffic signals and other start points. The high investment in the integration of advanced modern systems in automobiles has opened up a huge potential for the companies operating in the market.
The growing awareness regarding excess fuel consumption and the effects of global warming have led to the widespread use of automotive start-stop systems. The increasing investment in the adoption of these products by large scale automobile vendors will have a direct impact on the growth of the market in the coming years. Stringent government regulations have also played a major role in the development of these products in recent years.
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List of leading companies that are currently operating in the automotive start-stop system marketinclude:
An Overview of the Impact of COVID-19 on this Market:
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Increasing Number of Product Launches Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches has made a huge impact on the growth of the market. In March 2019, Borg Warner announced the launch of its next generation of cam-torque actuators. The product is set to witness a huge demand in the coming years, owing to exceptional properties as well as massive global consumer reach of the company. Bor Warner’s latest range of actuators will not only help the company grow, but will have a direct impact on the growth of the market in the coming years.
Europe Currently Dominates the Global Market; Stringent Government Regulations to Aid Growth
The report analyzes the ongoing automotive start-stop systems market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in Europe held the largest market share in 2018. The stringent government rules and regulations imposed on the emission of greenhouse gases have had a direct impact on the growth of the market in this region. Besides Europe, the market in Asia Pacific will witness considerable CAGR in the coming years, driven by the massive adoption of automobile and electric vehicles in this region. As of 2018, the market in Asia Pacific was worth USD 6.27 billion and this value is projected to increase further in the coming years.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Automotive Start-Stop System Market to Rise at 12.4% CAGR till 2026; Increasing Investment in Integration of Modern Concepts in Automobiles Will Aid Growth, says Fortune Business Insightsâ„¢