Two Wheeler Electric Starter Magnet Market size was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The Two Wheeler Electric Starter Magnet Market is a rapidly growing segment driven by the increasing demand for electric vehicles (EVs) and the need for efficient starting mechanisms in motorcycles and scooters. The electric starter magnet plays a crucial role in the performance of two-wheeler engines, providing the necessary torque to initiate the engine start. This market is segmented primarily by application, which includes different categories such as OEM (Original Equipment Manufacturer), OES (Original Equipment Supplier), and IAS (Independent Automotive Supplier). Each of these subsegments plays a significant role in shaping the market dynamics by catering to different levels of manufacturing and distribution needs.
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The OEM (Original Equipment Manufacturer) segment of the Two Wheeler Electric Starter Magnet Market is a key driver of growth, as it involves the manufacturing of starter magnets that are integrated directly into new two-wheeler models. OEMs provide parts that are designed specifically for a particular make and model of vehicle, ensuring compatibility and optimal performance. This segment is highly influential because it ensures that the quality of components used in vehicles meets the standards of the vehicle manufacturers. With a growing trend towards electric motorcycles and scooters, OEMs are increasingly incorporating advanced electric starter magnet technologies to enhance the reliability and performance of the engine start system. The demand in this segment is often linked to the production of new vehicles, thus correlating with overall market growth in the electric two-wheeler industry. The OES (Original Equipment Supplier) segment refers to suppliers who provide electric starter magnets to OEMs for the assembly of new two-wheelers. These suppliers typically operate as middlemen between the raw material producers and the OEMs, ensuring that the components meet the specifications required for mass production. OES suppliers play a critical role in the supply chain, as they provide high-quality, durable components that adhere to the rigorous standards set by OEMs. Their ability to meet deadlines and provide reliable components is crucial for maintaining the efficiency of vehicle production lines. The growing adoption of electric mobility in the two-wheeler market is expected to positively impact the OES segment, as manufacturers continue to look for high-performance and cost-effective starter magnet solutions for electric bikes and scooters.
The IAS (Independent Automotive Supplier) segment focuses on providing electric starter magnets to the aftermarket, catering to vehicle owners and repair shops. IAS suppliers often specialize in offering a wide range of starter magnet options for older models and those not covered by the OEM or OES networks. This subsegment benefits from the growing aftermarket for two-wheeler parts, especially in regions where electric vehicle adoption is still emerging, and a large number of traditional gasoline-powered two-wheelers are in circulation. As electric vehicles become more common, the IAS segment is also seeing a shift towards offering parts for electric two-wheelers, creating new opportunities for growth. The ability of IAS suppliers to offer competitive pricing and a variety of starter magnet options makes them an essential player in the market. The IAS segment is also poised for expansion as more consumers choose to repair and upgrade their vehicles rather than replace them entirely. This trend has led to an increase in demand for replacement parts, including electric starter magnets, from independent automotive suppliers. As the electric two-wheeler market continues to grow, IAS suppliers are responding by diversifying their product portfolios to include both traditional and electric starter magnets. The increasing number of independent suppliers in the market provides consumers with greater access to replacement parts, fostering competition and driving innovation in the sector.
Key Trends:
Increasing adoption of electric two-wheelers: The growing trend of electric mobility is significantly impacting the demand for electric starter magnets, as more motorcycles and scooters are being designed with electric starter systems.
Technological advancements: Manufacturers are incorporating more advanced materials and designs into electric starter magnets, improving their efficiency, durability, and overall performance.
Rising demand for aftermarket parts: As the electric two-wheeler market expands, there is a notable increase in the demand for replacement and upgrade parts, including starter magnets, especially from the IAS segment.
Sustainability trends: The focus on sustainability is encouraging manufacturers to use environmentally friendly materials and manufacturing processes in the production of electric starter magnets.
Global expansion of EV infrastructure: With governments and private sectors investing in electric vehicle infrastructure, the availability and adoption of electric two-wheelers are expected to increase, driving demand for electric starter magnets.
Opportunities in the Market:
Expansion of electric two-wheeler production: As electric two-wheelers gain popularity, manufacturers are likely to increase production, thereby driving demand for electric starter magnets from both OEMs and OES suppliers.
Aftermarket growth: With a growing number of electric two-wheelers on the road, the IAS segment has a significant opportunity to supply replacement starter magnets and parts to the aftermarket sector.
Technological innovation: Manufacturers can capitalize on technological advancements in materials and designs to create more efficient, lightweight, and durable electric starter magnets, catering to both OEM and aftermarket markets.
Geographic expansion: Emerging markets, particularly in Asia and Latin America, present significant opportunities for growth in the two-wheeler electric starter magnet market as electric mobility continues to expand in these regions.
Strategic partnerships: Collaborations between OEMs, OES suppliers, and IAS can open up new avenues for growth, particularly in providing high-quality, cost-effective starter magnets for electric two-wheelers.
Frequently Asked Questions:
1. What is the main function of a two-wheeler electric starter magnet?
A two-wheeler electric starter magnet is responsible for generating the necessary torque to start the engine of motorcycles and scooters, ensuring smooth and reliable engine ignition.
2. How does an electric starter magnet differ from a traditional one?
Electric starter magnets are designed to use electrical power rather than manual force to engage the engine’s flywheel, offering faster and more efficient engine starts compared to traditional magnets.
3. What is the role of OEM in the two-wheeler electric starter magnet market?
OEMs are responsible for producing starter magnets that are directly integrated into new two-wheelers, ensuring compatibility and meeting manufacturer specifications.
4. How does the OES segment contribute to the market?
OES suppliers provide electric starter magnets to OEMs, ensuring they meet the required standards for assembly into new two-wheelers, playing a critical role in the supply chain.
5. What is the significance of the IAS segment in the two-wheeler electric starter magnet market?
IAS suppliers focus on providing replacement starter magnets for both traditional and electric two-wheelers, serving the aftermarket and enabling vehicle repairs and upgrades.
6. Why is there a growing demand for electric starter magnets?
The rising adoption of electric vehicles, including motorcycles and scooters, is increasing the demand for electric starter magnets, as these vehicles rely on efficient electrical systems for starting.
7. What are the main challenges faced by electric starter magnet manufacturers?
Manufacturers face challenges in ensuring that starter magnets are both cost-effective and meet performance standards, especially as electric two-wheeler technology evolves.
8. How are technological advancements influencing the two-wheeler electric starter magnet market?
Technological advancements are leading to the development of more durable, lightweight, and efficient starter magnets, driving growth in both the OEM and aftermarket segments.
9. What are the key opportunities in the electric starter magnet market?
Key opportunities include expanding production for electric two-wheelers, growth in the aftermarket, and technological innovations in starter magnet designs and materials.
10. How is the global market for electric two-wheelers affecting the electric starter magnet market?
The growing global adoption of electric two-wheelers is driving the demand for electric starter magnets, especially in regions like Asia and Europe, where electric mobility is gaining traction.
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Top Two Wheeler Electric Starter Magnet Market Companies
Hangseng(Ningbo) Magnetech Co.
Ltd.
JUMPS INDIA
Spark Minda
SI Engineering Products Pvt Ltd
India Nippon Electricals Limited
TVS Group
AUTO-LEK (P) Ltd.
Regional Analysis of Two Wheeler Electric Starter Magnet Market
North America (United States, Canada, and Mexico, etc.)
Asia-Pacific (China, India, Japan, South Korea, and Australia, etc.)
Europe (Germany, United Kingdom, France, Italy, and Spain, etc.)
Latin America (Brazil, Argentina, and Colombia, etc.)
Middle East & Africa (Saudi Arabia, UAE, South Africa, and Egypt, etc.)
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Two Wheeler Electric Starter Magnet Market Insights Size And Forecast