Pune, India, March 09, 2022 (GLOBE NEWSWIRE) -- Automotive Ignition Coil market size is projected to reach USD 13.18 Billion in 2028, at a CAGR of 3.06%. The global Automotive Ignition Coil market size was USD 11.55 billion in 2020. Factors such rising use of luxury comfort features vehicles and rising demand for improving fuel economy are expected to increase the footprint of the market during the forecast period. Additionally, factors such as constant innovations such as using lightweight materials for productions will boost market growth.
COVID-19 Pandemic to Affect Market Heavily due to Production Delays
The COVID-19 pandemic has affected several sectors across the globe and the sector of automotive ignition coil is no different. Imposed lockdowns and economic backlash due to the pandemic has caused a dire impact on the production of ignition coils, which has triggered sales in a negative manner. Movement restrictions and transportation delays have further affected the market causing big projects to be hampered. However, the market is expected to revive due to loosening of previously imposed restrictions and opening of global trade routes.
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| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 3.06 |
| 2028 Value Projection | USD 13.18 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 11.55 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 150 |
| Segments covered | Type, Sales Channel, Vehicle Type, and Region |
| Growth Drivers | Rising Production of Gasoline Powered Vehicles to Augment Growth |
| Rising Investment Opportunities & Collaboration to Expand Market Size |
Market Growth Drivers:
Rising Production of Gasoline Powered Vehicles to Augment Growth
Factors such as increasing awareness for personal mobility and rising demand for luxurious features in automobiles will boost the automotive ignition coil market growth during the forecast period. Risen vehicle production and rising disposable income among consumers will increase the footprint of the market. Also, rapidly growing industrialization and improved standards of living will boost the growth of the market.
However, rising electrification of vehicles is expected to hinder the growth of the market during the forecast duration. Additionally, measures such as downsizing engines will further limit the growth of the market.
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Market Segmentation:
Type, Vehicle Type, Sales Channel, and Region are Studied
By type, the market can be divided into coil-on-plugs, distributor based, distributor less, and others.
On the basis of vehicle type, the market is broken into passenger cars and commercial vehicles.
With respect to sales channel, the market is segmented across OEMs and aftermarket.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, and the rest of the world.
Regional Insights:
Asia Pacific to Capture Fastest Growing CAGR due to Favourable Government Initiatives
Asia Pacific is expected to witness the fastest growing automotive ignition coil market share owing to high population in emerging economies such as China and India coupled with favourable government initiatives to name a few. Additionally, higher rate of urbanization and increasing number of smart cities will boost the growth of the market.
Europe holds the second largest market share, of which Germany holds the lion share in the regional outlook. Presence of major auto manufacturers in the region is expected to drive the market growth. Also, rising production of vehicles and increased adoption of advanced technologies in IC engines will increase the footprint of the market during the forecast period.
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The Report Lists the Key Companies in the Global Market
- BORGWARNER INC (MICHIGAN, U.S.)
- DIAMOND ELECTRIC MFG. CORP (OSAKA, JAPAN)
- DENSO CORPORATION (KARIYA, JAPAN)
- FEDERAL-MOGUL (MICHIGAN, U.S.)
- HELLA KGAA HUECK & CO. (LIPPSTADT, GERMANY)
- HITACHI, LTD. (HITACHI AUTOMOTIVE SYSTEMS, LTD.) (KENTUCKY, U.S.)
- MITSUBISHI ELECTRIC CORPORATION (TOKYO JAPAN)
- NGK SPARK PLUGS (AICHI, JAPAN)
- ROBERT BOSCH GmbH (GERLINGEN, GERMANY)
- VALEO (PARIS, FRANCE)
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Global Automotive Ignition Coil Market Segmentation:
By Type:
- Coil-on-plug
- Distributor based
- Distributor less
- Others
By Sales Channel:
- OEM
- Aftermarket
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Geography
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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Table Of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2 Porter’s Five Forces Analysis
4.3 PEST Analysis
4.4 Technological Developments
4.5 Impact of COVID-19
5. Global Automotive Ignition Coil Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Vehicle Type
5.2.1 Passenger Car
5.2.2 Commercial Vehicle
5.3. Market Analysis, Insights and Forecast – By Type
5.3.1 Coil-on-plug
5.3.2 Distributor based
5.3.3 Distributor less
5.3.4 Others
5.4. Market Analysis, Insights and Forecast – By Sales Channel
5.4.1 OEM
5.4.2 Aftermarket
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1 North America
5.5.2 Europe
5.5.3 Asia Pacific
5.5.4 Rest of the World
6. North America Automotive Ignition Coil Market Analysis, Insights and Forecast, 2017-2028
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Vehicle Type
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3. Market Analysis, Insights and Forecast – By Type
6.3.1 Coil-on-plug
6.3.2 Distributor based
6.3.3 Distributor less
6.3.4 Others
6.4. Market Analysis, Insights and Forecast – By Sales Channel
6.4.1 OEM
6.4.2 Aftermarket
6.5. Market Analysis – By Country
6.5.1 U.S.
6.5.2 Canada
6.5.3 Mexico
7. Europe Automotive Ignition Coil Market Analysis, Insights and Forecast, 2017-2028
Continued…
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