Elettronica
Belt-Driven Starter Generator (BSG) Market Size to Reach Revenues of USD 1,339.05 Million by 2026 - Arizton
1. The global belt driven starter generator market is expected to witness the highest demand from
Europe & APAC region.
2. The growing inclination towards electrification is encouraging population to adopt mild hybrid electric vehicle (MHEVs), thereby boosting the production of MHEVs, which in turn provides significant growth opportunities for vendors in the market.
3. Mild hybrid electric vehicles (MHEVs) hold the highest share in the market and can be integrated with both 12V and 48V BSG.
4. The increasing demand for fuel efficiency & strict emission regulations is driving the demand for belt driven starter generator in the market.
5. 48V BSG is leading the global belt driven starter generator market and is expected to grow at a CAGR of 11.21% from 2020-2026.
6. Most of the belt-driven starter generator production happens either in
China or European countries due to the higher concentration of vendors or easy availability of raw materials.
7. The pandemic adversely affected the automotive industry, and therefore, the demand for automotive parts declined to a minimum level. Hence, the demand for belt driven starter generator witnessed a significant slowdown during the COVID-19 outbreak.
8. The rising metal prices & increasing shift towards full electric vehicles poses significant challenges in the growth of the product in the market.
https://www.arizton.com/market-reports/belt-driven-starter-generator-market-size
The rising demand for fuel efficiency is one of the major growth drivers for the belt-driven starter generator market. The demand for fuel efficiency is high in countries that have high fuel costs. The rising fuel cost in various countries across Europe and APAC is accelerating the demand for vehicles that offer fuel efficiency, leading to a higher demand for belt-driven starter generators. Consumer willingness to pay a high price for fuel economy highly depends on fuel prices. For instance, consumers are willing to pay a slightly higher amount to save driving costs during the long run if fuel prices are relatively higher or even rising continuously. However, if the fuel prices are relatively lower, the willingness to pay more for fuel-efficient cars will be lower than usual. Hence, the high petrol/gasoline prices in the UK, France , Japan , and other countries are driving the demand for MHEVs and contributing to the growth of global belt driven starter generator market.
In 2020, Europe emerged as the most dominant geographical segment in the global belt-integrated starter generator market and accounted for a revenue share of 30.24%. Factors such as strong awareness about environmental protection by reducing vehicular emissions accelerated the demand for MHEV in the region, thereby pushing the demand for belt-driven starter generators in the market. Germany and the UK are driving the demand for belt-driven starter generators in Europe and are expected to grow at a CAGR of 6.14% and 9.70%, respectively, during the forecast period. Various European brands, including BMW, Mercedes-Benz, and others, are getting into large-scale MHEV production to tap the market. Hence, the demand for belt-driven starter generators is projected to witness considerable year-over-year growth in the European market.
https://www.arizton.com/market-reports/belt-driven-starter-generator-market-size
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