New York, United States, July 08, 2024 (GLOBE NEWSWIRE) -- The Global Vehicle Ignition Coil Market Size Expected to Grow from USD 11.02 Billion in 2023 to USD 16.39 Billion by 2033, at a CAGR of 4.05% during the forecast period 2023-2033.
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Vehicle ignites the mixture of gasoline and air in the compression chamber and aids in the vehicle's motion, ignition coils, also known as spark coils, generate the high voltage required. The 12-volt power source is converted into a greater voltage by the dependable ignition systems, which are built to produce an electric spark. These ignition coils contribute to the engine's smooth running. A capacitor and mechanical contact breaker are required for the ignition coil. As performance-oriented vehicles such as sports vehicles and high-performance sedans gain popularity, premium ignition coil systems become increasingly in demand. These cars propel the market for high-end ignition coil products because they require advanced ignition technology to guarantee peak engine performance and responsiveness. However, the expanding environmental movement and the shift to electric vehicles (EVs), which rely on batteries rather than traditional combustion engines and do not require conventional ignition systems, are putting pressure on conventional automotive ignition systems. As the market for EVs expands, the market for conventional ignition systems can experience an economic crisis.
Browse key industry insights spread across 213 pages with 110 Market data tables and figures & charts from the report on the “Global Vehicle Ignition Coil Market Size, Share, and COVID-19 Impact Analysis, By Type (Coil-on-plug, Distributor based, Distributor less, Others), By Vehicle (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), By Sales Channel (OEM, Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The coil-on-plug segment is expected to hold the largest share of the vehicle ignition coil market during the estimation timeframe.
Based on the type, the vehicle ignition coil market is categorized into coil-on-plug, distributor based, distributor less, and others. Among these, the coil-on-plug segment is expected to hold the largest share of the vehicle ignition coil market during the estimation timeframe. Since it provides the least amount of voltage loss from the coil to the pin, it is anticipated that this industry will hold the largest market share going forward. Because it requires fewer connections and eliminates the need for the distributor rotor to close the air gap, it can also be used in conjunction with injector control to have the ECU do a misfire diagnosis.
The passenger car segment is expected to grow at the fastest CAGR during the estimation timeframe.
Based on the vehicle, the vehicle ignition coil market is categorized into passenger car, light commercial vehicle, heavy commercial vehicle. Among these, the passenger car segment is expected to grow at the fastest CAGR during the estimation timeframe. Internal combustion engines rely on ignition systems to initiate combustion in order to assure smooth engine operation. In the market for passenger cars, there is a continuing need for innovative and dependable ignition systems because buyers need better engine performance, reduced emissions, and more fuel efficiency.
The aftermarket segment is expected to hold a significant share of the vehicle ignition coil market during the estimation timeframe.
Based on the sales channel, the vehicle ignition coil market is categorized into OEM, and aftermarket. Among these, the aftermarket segment is expected to hold a significant share of the vehicle ignition coil market during the estimation timeframe. a wide range of clients, as well as the coil producers' incorporation of cutting-edge automotive ignition coils into their vehicles. This will promote the growth of the market.
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Asia Pacific is projected to hold the largest share of the vehicle ignition coil market over the estimation timeframe. Consumer demand for vehicles rises as the population and urbanization expand. Many large-scale government efforts aimed at reviving the automotive industry are expected to support market expansion in these regions. Furthermore, it is projected that the development of smart cities and rising urbanization will accelerate the growth of the vehicle ignition coil market.
North America is expected to grow at the fastest CAGR growth of the vehicle ignition coil market during the estimation timeframe. The United States offers automobile ignition coil manufacturers a tremendous chance for growth due to its burgeoning automotive sector and emphasis on innovation. The market in North America is expanding because of the rising demand for environmentally friendly cars and reliability ignition systems.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Vehicle Ignition Coil Market are Robert Bosch Gmbh, Hella Kgaa Hueck & Co., Valeo, Borgwarner Inc, NGK Spark Plugs, Denso Corporation, Federal-Mogul, Mitsubishi Electric Corporation, Diamond Electric Mfg. Corp, Hitachi and Other Key Vendors.
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Recent Developments
- On January 2024, the lineup of ignition coils offered by NGK Spark Plugs (U.S.A.) Inc. now includes MOD Performance Ignition Coils. Under the NGK Spark Plugs brand, MOD Performance Ignition Coils are designed for high-performance cars and enthusiasts. The launch includes ten-part numbers for popular enthusiast applications that cover about 40 million VIO; they will be sold in multipacks of one part per car.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the vehicle ignition coil market based on the below-mentioned segments:
Global Vehicle Ignition Coil Market, By Type
- Coil-on-plug
- Distributor based
- Distributor less
- Others
Global Vehicle Ignition Coil Market, By Vehicle
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Vehicle Ignition Coil Market, By Sales channel
- OEM
- Aftermarket
Global Vehicle Ignition Coil Market, By Regional
-
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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