Growth Opportunities in the European Starter and Alternator Aftermarket, 2024 2030

AutomotiveGrowth Opportunities in the European Starter and Alternator Aftermarket, 2024 2030

Remanufactured Starters and Alternators will Continue to Dominate Growth Opportunities

RELEASE DATE
22-May-2024
REGION
Europe
Deliverable Type
Market Research
Research Code: MH2A-01-00-00-00
SKU: AU_2024_734
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$4,950.00
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SKU
AU_2024_734

Growth Opportunities in the European Starter and Alternator Aftermarket, 2024 2030
Published on: 22-May-2024 | SKU: AU_2024_734

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This study considers growth opportunities in the European starter and alternator aftermarket for passenger cars and light commercial vehicles. It forecasts demand for new and remanufactured starters and alternators and average manufacturer-level price (MLP) through 2030. The study also evaluates shares, distribution channels, and technology trends. Brief profiles of key suppliers are provided, and the impact of connected, automated, shared, and electric (CASE) vehicles and growth drivers and restraints is discussed. The base year is 2023, and the forecast period is from 2024 to 2030. Leading brands in the European starter and alternator aftermarket are Robert Bosch GmbH, Borg Automotive A/S (Lucas and Elstock), Valeo Service, Denso Corporation, AS-PL, BV PSH, Alanko, WAI, Ridex, and Stark.

Author: Seshasayee Tatineni

The Impact of the Top 3 Strategic Imperatives on the Starter and Alternator Aftermarket

Transformative Megatrends

WHY

  • Although shared mobility services have witnessed growth, the average annual kilometers (km) driven is declining across European countries, indicating a decline in personal mobility.

FROST PERSPECTIVE

  • Shared vehicles have a higher average km traveled than personal vehicles; thus, they make a higher contribution to the starter and alternator aftermarket.
  • OEMs and aftermarket brands will partner with both large and small fleets to increase their share and revenue.

Disruptive Technologies

WHY

  • Battery electric vehicles (BEVs) will displace many internal combustion engine (ICE) vehicles in new vehicle sales in Europe by the end of the decade.

FROST PERSPECTIVE

  • BEVs do not have starters and alternators, causing a decline in the total addressable market (TAM) for the aftermarket.
  • However, the impact of EVs will not be significant during the forecast period.

Innovative Business Models

WHY

  • eCommerce in the automotive aftermarket is growing rapidly, and third-party retailers dominate the space.

FROST PERSPECTIVE

  • Aftermarket starter and alternator brands will partner with leading retailers to leverage retailers’ eCommerce capabilities to expand their customer base, increase share and revenue, and reduce costs.

 

Scope of Analysis

Geographic coverageEurope
 United Kingdom
 France
 Germany
 Italy
 Spain
 Rest of Europe
Study period2020–2030
Base year2023
Forecast period2024–2030
Monetary unitEuro (€) (All prices and revenue reflect the manufacturer level when the product enters the first level of distribution.)
Vehicle typePassenger cars (PCs) and light commercial vehicles (LCVs) up to 3.5 tons

 

Segmentation

Rotating Electrical Components

Starter

New Starter

Remanufactured Starter

  • A starter is an electric motor that causes an engine's crankshaft to begin turning, which gets the engine running. Starters use the energy stored in the battery to initiate the engine, but they are not required when the vehicle is running.
  • Remanufacturing refers to rebuilding a dead/malfunctioning starter, and the starter specifications being restored must match those of the original product. The process is accomplished through a combination of reused, repaired, and replaced components.

Alternator

New Alternator

Remanufactured Alternator

  • An alternator is a belt-driven device that uses the engine's power to generate electrical energy.
  • The key functions of an alternator are keeping the battery charged and in good condition and simultaneously powering the vehicle's electric system when the engine is running.
  • Remanufacturing refers to rebuilding a dead/malfunctioning alternator, and the alternator specifications being restored must match those of the original product. The process is accomplished through a combination of reused, repaired, and replaced components.

 

Competitive Environment: Starter Aftermarket

Number of Competitors10–15
Competitive FactorsCost, reliability, availability, distribution network
Key End-user Industry VerticalAutomotive
Leading CompetitorsBosch, Borg Automotive, Valeo, Denso
Revenue Share of Top 3 Competitors (2023)73%–75%
Other Notable CompetitorsBV PSH, AS-PL, Ridex, Hella, Alanko, WAI, Rotovis, Stark, RTX
Distribution StructureTier 1 OESs and IAM suppliers, WDs, retailers

 

Competitive Environment: Alternator Aftermarket

Number of Competitors15–20
Competitive FactorsCost, performance, technology, reliability, distribution network
Key End-user Industry VerticalAutomotive
Leading CompetitorsBosch, Borg Automotive, Valeo, Denso
Revenue Share of Top 3 Competitors (2023)71%–73%
Other Notable CompetitorsBV PSH, AS-PL, Ridex, Hella, Alanko, WAI, Rotovis, Stark, RTX
Distribution StructureTier 1 OESs and IAM suppliers, WDs, retailers

 

Growth Drivers

  • Usually, starters and alternators are replaced in older vehicles. The growing vehicles in operation (VIO) and the increasing share of older vehicles in VIO will drive the aftermarket demand for starters and alternators.
  • Shared vehicles tend to have a higher average annual km (in terms of distance covered), which shortens the replacement period, driving the aftermarket demand for starters and alternators.
  • The increasing number of electrical and electronic components/systems in new vehicles increases the load on alternators, leading to reduced alternator life.

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Starter and Alternator Aftermarket

Scope of Analysis

Segmentation

Competitive Environment: Starter Aftermarket

Competitive Environment: Alternator Aftermarket

Key Findings

Growth Drivers

Growth Restraints

CASE Impact, 2030

Forecast Considerations

Growth Metrics

Revenue and Unit Shipment Forecast

Revenue Forecast by Region

Unit Shipment Forecast by Region

Revenue Forecast by Product Type

Unit Shipment Forecast by Product Type

Average Pricing Forecast by Product Type

Revenue, Unit Shipment, and Average Pricing Forecast Analysis

Revenue Share by Brand

Revenue Share by Distribution Channel and Service Preference

Growth Metrics

Revenue and Unit Shipment Forecast

Revenue Forecast by Region

Unit Shipment Forecast by Region

Revenue Forecast by Product Type

Unit Shipment Forecast by Product Type

Average Pricing Forecast by Product Type

Revenue, Unit Shipment, and Average Pricing Forecast Analysis

Revenue Share by Brand

Revenue Share by Distribution Channel and Service Preference

Bosch, Lucas, and Elstock

Valeo and Denso

AS-PL and BV PSH

Growth Opportunity 1: Private Labels

Growth Opportunity 1: Private Labels (continued)

Growth Opportunity 2: eCommerce

Growth Opportunity 2: eCommerce (continued)

Growth Opportunity 3: Growth of Connected Vehicles

Growth Opportunity 3: Growth of Connected Vehicles (continued)

Best Practices Recognition

Frost Radar

Benefits and Impacts of Growth Opportunities

Next Steps

Take the Next Step

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

List of Figures
  • Starter and Alternator Aftermarket: Growth Drivers, Europe, 2024–2030
  • Starter and Alternator Aftermarket: Growth Restraints, Europe, 2024–2030
  • Starter Aftermarket: Growth Metrics, Europe, 2023
  • Starter Aftermarket: Revenue and Unit Shipment Forecast, Europe, 2020–2030
  • Starter Aftermarket: Revenue Forecast by Region, Europe, 2020–2030
  • Starter Aftermarket: Unit Shipment Forecast by Region, Europe, 2020–2030
  • Starter Aftermarket: Revenue Forecast by Product Type, Europe, 2020–2030
  • Starter Aftermarket: Unit Shipment Forecast by Product Type, Europe, 2020–2030
  • Starter Aftermarket: Average Pricing Forecast by Product Type, Europe, 2020–2030
  • Starter Aftermarket: Revenue Share by Brand, Europe, 2023
  • Starter Aftermarket: Revenue Share by Distribution Channel and Service Preference, Europe, 2023
  • Alternator Aftermarket: Growth Metrics, Europe, 2023
  • Alternator Aftermarket: Revenue and Unit Shipment Forecast, Europe, 2020–2030
  • Alternator Aftermarket: Revenue Forecast by Region, Europe, 2020–2030
  • Alternator Aftermarket: Unit Shipment Forecast by Region, Europe, 2020–2030
  • Alternator Aftermarket: Revenue Forecast by Product Type, Europe, 2020–2030
  • Alternator Aftermarket: Unit Shipment Forecast by Product Type, Europe, 2020–2030
  • Alternator Aftermarket: Average Pricing Forecast by Product Type, Europe, 2020–2030
  • Alternator Aftermarket: Revenue Share by Brand, Europe, 2023
  • Alternator Aftermarket: Revenue Share by Distribution Channel and Service Preference, Europe, 2023
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This study considers growth opportunities in the European starter and alternator aftermarket for passenger cars and light commercial vehicles. It forecasts demand for new and remanufactured starters and alternators and average manufacturer-level price (MLP) through 2030. The study also evaluates shares, distribution channels, and technology trends. Brief profiles of key suppliers are provided, and the impact of connected, automated, shared, and electric (CASE) vehicles and growth drivers and restraints is discussed. The base year is 2023, and the forecast period is from 2024 to 2030. Leading brands in the European starter and alternator aftermarket are Robert Bosch GmbH, Borg Automotive A/S (Lucas and Elstock), Valeo Service, Denso Corporation, AS-PL, BV PSH, Alanko, WAI, Ridex, and Stark. Author: Seshasayee Tatineni--BEGIN PROMO--

Research Scope

The base year is 2023, and the forecast period is from 2024 to 2030

Key Issues Addressed

  • What is the current size of starter and alternator aftermarket in terms of revenue and unit shipments, and how will it change by 2030?
  • What is the average manufacturer-level price for starter and alternator, and how will it change by 2030?
  • What is the market share of major brands for each component ?
  • What does the distribution channel for each component look like?

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More Information
Deliverable Type Market Research
Author seshasayee Tatineni
Industries Automotive
No Index No
Is Prebook No
Keyword 1 European Aftermarket Market
Keyword 2 Automotive Aftermarket Trends
Keyword 3 Market Analysis Europe
List of Charts and Figures Starter and Alternator Aftermarket: Growth Drivers, Europe, 2024–2030~ Starter and Alternator Aftermarket: Growth Restraints, Europe, 2024–2030~ Starter Aftermarket: Growth Metrics, Europe, 2023~ Starter Aftermarket: Revenue and Unit Shipment Forecast, Europe, 2020–2030~ Starter Aftermarket: Revenue Forecast by Region, Europe, 2020–2030~ Starter Aftermarket: Unit Shipment Forecast by Region, Europe, 2020–2030~ Starter Aftermarket: Revenue Forecast by Product Type, Europe, 2020–2030~ Starter Aftermarket: Unit Shipment Forecast by Product Type, Europe, 2020–2030~ Starter Aftermarket: Average Pricing Forecast by Product Type, Europe, 2020–2030~ Starter Aftermarket: Revenue Share by Brand, Europe, 2023~ Starter Aftermarket: Revenue Share by Distribution Channel and Service Preference, Europe, 2023~ Alternator Aftermarket: Growth Metrics, Europe, 2023~ Alternator Aftermarket: Revenue and Unit Shipment Forecast, Europe, 2020–2030~ Alternator Aftermarket: Revenue Forecast by Region, Europe, 2020–2030~ Alternator Aftermarket: Unit Shipment Forecast by Region, Europe, 2020–2030~ Alternator Aftermarket: Revenue Forecast by Product Type, Europe, 2020–2030~ Alternator Aftermarket: Unit Shipment Forecast by Product Type, Europe, 2020–2030~ Alternator Aftermarket: Average Pricing Forecast by Product Type, Europe, 2020–2030~ Alternator Aftermarket: Revenue Share by Brand, Europe, 2023~ Alternator Aftermarket: Revenue Share by Distribution Channel and Service Preference, Europe, 2023~
Podcast No
WIP Number MH2A-01-00-00-00