Global Automotive Hybrid Starter Generator Market Scope 2024, Forecast To 2033

The automotive hybrid starter generator market size has grown strongly in recent years. It will grow from $16.58 billion in 2023 to $17.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to urbanization and traffic congestion, growing consumer awareness, increasing demand for more fuel-efficient vehicles, rising awareness of air quality issues, and increasing infrastructure for hybrid and electric vehicles. The automotive hybrid starter generator market size is expected to see strong growth in the next few years, growing to $21.84 billion in 2028 at a CAGR of 5.7%. The growth in the forecast period can be attributed to rising disposable income, increasing market penetration of hybrid vehicles, expansion of aftermarket services for hybrid vehicles, rising awareness about environmental impact, and the growing trend towards electrification in the automotive industry. Major trends in the forecast period include demand for research and development, innovation in hybrid technologies, public and private sector partnerships, customization and flexibility, as well as advancements in lightweight vehicle materials.