Westford,USA, Jan. 12, 2024 (GLOBE NEWSWIRE) -- The global Automotive Ignition Coil market size is expected to reach USD 14.76 billion by 2030 and exhibit a CAGR of 3.8% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing demand for vehicles, especially passenger cars, the growth of the automotive aftermarket industry, the need for fuel-efficient and low-emission vehicles, technological advancements in ignition systems, and the expansion of the global automotive industry are fueling the market's growth.
According to SkyQuest's latest global research of the Automotive Ignition Coil market, the increasing adoption of lightweight materials for improved efficiency and reduced emissions, the shift towards electric and hybrid vehicles, the development of high-energy ignition coils for enhanced engine performance, and the integration of advanced electronic components for ignition system control are the trends that aid in the market's growth.
Browse in-depth TOC on "Automotive Ignition Coil Market"
- Pages - 157
- Tables - 89
- Figures -76
An automotive ignition coil is a transformer that converts the 12-volt battery voltage to a high voltage of up to 30,000 volts. This high voltage is needed to create the spark that ignites the air-fuel mixture in the engine's combustion chambers.
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Prominent Players in Automotive Ignition Coil Market
- Denso Corporation
- Robert Bosch GmbH
- Hitachi Automotive Systems Ltd.
- Hella GmbH & Co. KGaA
- Diamond Electric Holdings Co. Ltd.
- NGK SPARK PLUG Co. Ltd.
- Mitsubishi Electric Corporation
- BorgWarner Inc.
- Eldor Corporation
- Furuhashi Auto Electric Parts Co. Ltd.
- Taiwan Ignition System Co. Ltd.
- Valeo SA
- Federal-Mogul Corporation
- Sumitomo Electric Industries, Ltd.
- Delphi Automotive Systems
- Continental AG
- Magneti Marelli S.p.A.
- Delphi Technologies
- IAC Group
- Marelli Holdings Co., Ltd.
- ASMO
- ZF Friedrichshafen AG
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 10.95 Billion |
| 2030 Value Projection | 14.76 Billion |
| CAGR | 3.8% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Coil-on-Plug Ignition Coil Demand to Grow Substantially in the Forecast Period
Coil-on-Plug Ignition Coils dominate the global online market as they are known for their advanced technology and design, which allows for efficient ignition and precise timing of the spark in each cylinder. COP ignition coils offer improved engine performance, including better fuel efficiency, reduced emissions, and increased power output. These benefits are highly desirable for both manufacturers and consumers.
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Passenger Cars are the Leading Application Segment
In terms of application, passenger cars are the leading segment as it is a significant portion of the automotive market, with a large number of units produced and sold globally. This high market volume drives the demand for automotive ignition coils. Consumer preferences for passenger cars often emphasize factors like engine performance, fuel efficiency, and reduced emissions. High-quality ignition coils are essential for achieving these goals.
Asia Pacific is the leading Market Due to the Technological Advancements
Region-wise, Asia Pacific is one of the largest growing markets with a huge emphasis on technological advancements. The region has a high production and consumption of automobiles, especially in countries like China, Japan, and South Korea. Asia-Pacific's robust automotive manufacturing industry and growing consumer demand were key drivers.
A recent report thoroughly analyzes the major players operating within the Automotive Ignition Coil market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Automotive Ignition Coil.
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Key Developments in Automotive Ignition Coil Market
- Diamond Electric Holdings Co. Ltd (Diamond Electric HD) made an announcement regarding the dissolution and liquidation of its subsidiary in Thailand, Diamond Electric (Thailand) Co. Ltd. The reason behind this decision is the consolidation of automotive ignition coil production into Diamond Electric Asia Pacific Co. Ltd, which already handles the same products in the eastern region of Thailand.
Key Questions Answered in Automotive Ignition Coil Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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