Start-Stop Technology Market Share, Size, Trends and Growth Opportunities
The increasing adoption of fuel-efficient vehicles will raise the application of the start–stop technology in the automotive industry. The urgent need to clean up the environment has put the spotlight on the start–stop technology to curtail the emissions of sulfur dioxide and carbon monoxide. The demand for low-emission automobiles and stringent government regulations will enhance the demand for the technology in the future. The technology assists in cutting down fuel consumption and emissions by automatically shutting down and restarting the internal combustion engine (ICE) of vehicles, to shorten the amount of time the engine spends idling.
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With the rising concerns regarding the increasing amount of greenhouse gases in the atmosphere, automobile manufacturers are deploying the start–stop technology to produce fuel-efficient and eco-friendly vehicles. This is expected to increase the size of the start–stop technology market at a CAGR of 18.8% during 2016–2022 to $7,058.0 million by 2022. This market growth will also be driven by the increasing adoption of hybrid vehicles in the future, driven by government initiatives, especially in Asian countries.
In the Asia-Pacific region, China has been the dominant start–stop technology market, while for the Rest of the World region, Brazil employed the technology the most widely in the past. The vehicles produced in these regions are being rapidly integrated with this technology because of the restrictions imposed by the Organization of the Petroleum Exporting Countries (OPEC) on the production and export of crude oil. This has had an adverse effect on the crude oil supply to China, India, and Brazil, which is why these countries are taking concrete steps to reduce their dependence on it.
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The reduced supply of crude oil and rising concerns for the environment will, thus, increase the popularity of the start–stop technology in the future.
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