Automotive Ignition Coil Market Size, Demand, Outlook and Forecast 2022-2027
The latest research study “Automotive Ignition Coil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive ignition coil market size reached US$ 9.83 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.75 Billion by 2027, exhibiting a growth rate (CAGR) of 4.30% during 2022-2027.
An automotive ignition coil refers to one of the parts of a vehicle ignition system. It is responsible for producing an electric spark that ignites the air and gasoline mixture in a compression chamber, which aids in vehicle movement. Some of the common product types are coil-on plugs, distributor-based, distributor-less, etc. The automotive ignition coil comprises a laminated iron core that is surrounded by two coils of copper wire and is manufactured with high-quality metal materials that are easy to install, sturdy, durable, wear, corrosion resistant, etc. It improves engine efficiency, emissions, performance, etc. Consequently, the automotive ignition coil is widely used in passenger cars, motorcycles, heavy commercial vehicles (HCVs), etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Automotive Ignition Coil Market Trends and Drivers:
The growing number of vehicles across countries is among the key factors stimulating the automotive ignition coil market. Furthermore, the increasing sales and production of gasoline-powered cars, owing to the rising consumer inclination towards personal mobility and the escalating demand for luxury automobiles, are also positively influencing the global market. Apart from this, the widespread adoption of automotive ignition coils to enhance operational efficiency and fuel economy is acting as another significant growth-inducing factor. Moreover, the introduction of three-dimensional (3D) printing technology to reduce costs and improve product quality is propelling the market growth. Besides this, the development of a pencil ignition coil that offers electrical, mechanical, and thermal isolation between the magnetic core and improves the magnetic field in the automotive engine is further augmenting the global market. Additionally, the inflating need for compact and miniaturized ignition coils, on account of engine downsizing, is expected to fuel the automotive ignition coil market over the forecasted period.
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Automotive Ignition Coil Market Report Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
BorgWarner Inc., DENSO Corporation, Diamond Electric MFG, Eldor Corporation S.p.A., HELLA GmbH & Co. KGaA (Faurecia SE), Hitachi Ltd., Mitsubishi Electric Corporation, NGK Spark Plug Co. Ltd., Robert Bosch GmbH, Standard Motor Products Inc. and Valeo.
The report has been segmented the market into following categories:
Breakup by Type:
- Distributor less
Breakup by Product Type:
- Can-type Ignition Coil
- Electronic Distributor Coil
- Double Spark Coil
- Pencil Ignition Coil
- Ignition Coil Rail
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Distribution Channel:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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