China Automotive Starter Industry Poised To Achieve A Target Of 32.4 Million By 2017: Radiant Insights,Inc
China’s automotive industry has recently seen an annual growth rate of 14.82%, with production exceeding 22 million units.
San Francisco, United States – March 31, 2016 /MarketersMedia/ —
Automotive starters are devices used to rotate the internal combustion engine, which allows it to run the engine at its own convenience. Electric starter, pneumatic starter, hydraulic, fuel-starting, and spring starter are the types of automotive starters.
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The China automotive starter industry is poised to achieve a target of 32.4 million sets by 2017. This market will undergo sluggish growth on account of environmental regulations throughout the forecast period (2014-2017). China’s automotive industry has recently seen an annual growth rate of 14.82%, with production exceeding 22 million units. The sales volume had climbed almost 14%, with units sold amounting to almost 22 million.
The automotive industry in China has created a niche for after-market services and parts replacements. With automotive production at an all-time high, the China automotive starter industry will see a surge in its production. The after-market size has seen annual 12% growth rate, amounting to 1.26 million sets in 2013.
Current trends driving the market include consumer preferences, consumer behavior, and new regulations. Consumers need more digital applications within the car to sync with their smartphone. They are willing to pay extra for these features, which would change the sales volume over the forecast period. Features include an infotainment system and safety features need to be a standard in all automobiles. Stringent regulations related to fuel have made it difficult for OEMs (original equipment manufacturers) to manufacture parts at stable prices.
OEMs have employed strategies to collect consumer data to ensure customer loyalty as well as to track changing demands. The goal is to collect the discrete data and create an appropriate business model akin to Google and Amazon.
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Major manufacturers in the China automotive starter industry include Wuxi Minxian Vehicle Electric Equipment Co. Limited, Shanghai Valeo Automotive Electrical Systems Co. Limited, Wuhu Generator Automotive Electrical Systems Company Ltd., JHEECO, and TDS.
Out of these, Shanghai Valeo Automotive is involved in the production of light duty trucks, starters and generators dependent on diesel engines. It aims to achieve an production capacity of 15 million units by 2015. End-users of these products include Shanghai Volkswagen, FAW-Volkswagen, and Beijing Hyundai.
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About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
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