LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive start-stop system market to grow at a CAGR of approximately 20% during the period 2018-2022, according to their latest report.
This market research report segments the global automotive start-stop system market based on vehicle type (passenger vehicles and commercial vehicles) and geography (the Americas, APAC, and EMEA). The report also provides a detailed analysis of the drivers, trends, and challenges that are expected to impact the market growth.
In 2017, the APAC region dominated the global automotive start-stop system market, accounting for a market share of close to 41%. EMEA accounted for the second largest share in the market. It was followed by the Americas that contributed for the least share in the market.
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In this report, Technavio analysts highlight the increasing demand for fuel-efficient vehicles as a key factor contributing to the growth of the global automotive start-stop system market:
Increasing demand for fuel-efficient vehicles
An efficient powertrain system such as a start-stop system optimizes the engine's output and provides better fuel efficiency. Fuel prices have been increasing rapidly in the recent years that has expedited the need for fuel-efficient start-stop systems. Also, fuel economy norms implemented by regulatory bodies across different countries in the world encourage OEMs to focus on start-stop systems for better fuel efficiency. Start-stop systems provide enhanced fuel efficiency and allow fuel cost savings by stopping the engine during the red traffic signals or heavy-traffic situations.
The start-stop system can improve the overall fuel economy of conventional gasoline or diesel-powered vehicles and hybrid vehicles. The inclination of consumers toward fuel efficiency and safety have increased due to the increased sales of automobiles. Previously, consumers only considered engine power as the only criterion before purchasing new vehicles. However, they have shifted their focus toward vehicles, which provide an optimum combination of power, performance, reliability, and fuel efficiency.
According to a senior analyst at Technavio for automotive electronics, “Consumers prefer fuel-efficient vehicles to reduce their overhead cost. Fuel economy also plays an essential role, particularly during long-distance travels. Such factors have impelled OEMs to install the start-stop system in vehicles. Thus, the global automotive start-stop system market is expected to project steady growth during the forecast period.”
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