Portland, OR, April 14, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global vehicle ignition coil market was pegged at $5.59 billion in 2018 and is expected to hit $7.55 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
Increase in number of vehicle production, rise in sales of luxurious vehicles in developing countries, and upsurge in disposable income among people drive the growth of the global vehicle ignition coil market. On the other hand, rise in trend of shared mobility, and surge in demand for electric vehicles curb the growth to certain extent. Nevertheless, untapped developing markets in Africa and Asia are expected to pave the way for several opportunities in the industry.
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The coil-on plugs segment to retain its dominance till 2026-
By type, the coil-on plugs segment contributed to more than two-fifths of the total market revenue in 2018, and is projected to lead the trail by 2026. The same segment is also expected to manifest the fastest CAGR of 4.5% throughout the forecast period. The other two segments evaluated in the report include distributor-based ignition coils and distributor-less ignition coils.
The passenger car segment to maintain the lion’s share by 2026-
Based on vehicle type, the passenger car segment accounted for more than two-thirds of the global vehicle ignition coil market share in 2018, and is anticipated to dominate during the study period. The same segment would also project the fastest CAGR of 4.1% from 2019 to 2026. The LCV and HCV segments are also discussed in the report.
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Asia-Pacific to remain lucrative in terms of revenue-
Based on region, Asia-Pacific garnered the highest share in 2018, holding more than half of the global market. The same region is also predicted to showcase the fastest CAGR of 4.4% throughout the study period. The other three provinces analyzed in the report take in North America, Europe, and LAMEA.
Key players in the industry-
The key market players analyzed in the global vehicle ignition coil market report include Denso, Diamond Electric Mfg. Corp, Valeo SA, BorgWarner, HELLA GmbH & Co. KGaA, Hitachi automotive, Mitsubishi Electric Corporation, Federal-Mogul, NGK Spark Plug, and Robert Bosch. These market players have combined several strategies including partnership, expansion, collaboration, joint ventures, and others to perk up their stand in the industry.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.