Global Automotive Ignition Coil Market to Reach US$ 5,108.65 Million by 2033, Rising at a CAGR of 4.5% | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
The sales of vehicles are declining in major automotive markets such as China, Japan, and India, further impacting the growth of the automotive ignition coil market. The governments of growing economies are taking various steps to increase vehicle sales in their respective countries.
NEWARK, Del, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The automotive ignition coil market is expected to reach US$ 3,289.60 million in 2023. The market is predicted to reach a value of US$ 5,108.65 million in 2033. Between 2023 and 2033, the market is expected to register a CAGR of 4.5%. Coils perform the same basic function in all modern petrol engines, creating the high voltage to light the spark plugs.
The advent of distributor-less ignition systems (DIS) has resulted from advancements in ignition technology. Recent years have seen a notable increase in the growth of luxury vehicles worldwide. The popularity of COP systems has increased in recent years. Having the coil mounted directly on the ignition system allows for better combustion control and precise ignition timing. Due to this design, engine performance is enhanced, and energy loss is reduced.
Depending on the application, wireless technology is integrated into ignition coils to communicate diagnostic information to the onboard computer of the vehicle. Using this technique, remote diagnostics and monitoring can be carried out in real-time. Electric and hybrid vehicles are requiring more advanced ignition coils to meet their demands.
Hybrid systems, which combine internal combustion engines and electric motors, can still benefit from traditional ignition systems. In an effort to decrease the overall weight of vehicles, automotive component manufacturers constantly develop and employ lightweight materials. The market offers a variety of ignition systems, including basic breaker-point ignitions, electronic ignitions, and distributor-less ignitions.
Consumer needs have prompted automotive manufacturers to incorporate improvements into new and upcoming models. Automobiles in developing nations are more likely to come equipped with luxury comfort amenities. For increased precision and efficiency, advanced sensors and electronic controls are required. Increasing investment and various research and development activities are expected to boost demand for automotive ignition coils.
Key Takeaways
According to FMI, double spark coils are expected to hold 58.5% of market revenue by 2033.
According to the forecast, passenger cars are expected to account for a 76.8% market share.
The United Kingdom is expected to experience a CAGR of 3.4% until 2033.
In 2033, the demand for ignition coils in the United States is expected to increase by 3.3% CAGR.
By 2033, the automotive ignition coil market in India is predicted to expand at 5.4% CAGR until 2033.
“3D design automotive ignition coils and compact models will drive demand. Increasing safety regulations and demand for passenger vehicle sales will drive market growth in the near future.," - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Several companies operate in the automotive ignition coil market, which is moderately competitive. A niche market for a specific demographic is becoming increasingly common among players. A high focus on innovation and strong partnerships has benefited the market. Due to these developments, a number of automotive ignition coils have been introduced in recent years.
Key Companies Profiled
Denso Corporation
Federal-Mogul Corporation
NGK Spark Plug Co. Ltd.
BorgWarner Ludwigsburg GmbH
Valeo SA
Robert Bosch GmbH
Delphi Automotive PLC
Hitachi Automotive Systems Americas Inc.
Mitsubishi Electric Corporation
Standard Motor Products
Marshall Electric Corp
AcDelco
Market Developments Include
In April 2023, Robert Bosch, LLC introduced 52 new parts for its North American aftermarket, covering more than 22 million vehicles. As part of its new product line, Bosch supplies braking parts, ignition coils, water pumps, sensors, and fuel injectors for domestic, European, and Asian passenger and commercial vehicles.
In June 2023, Diamond & Zebra Electric Mfg. Co., Ltd., an Osaka-based group company, developed an ignition system that makes use of reciprocating engines in a carbon-neutral society with ammonia combustion technology. The ignition system plays a crucial role in fuel combustion.
Segmentation Analysis of the Automotive Ignition Coil Market
By Product Type:
Can-Type Ignition Coil
Electronic Distributor Coil
Double Spark Coil
Pencil Ignition Coil
Ignition Coil Rail
Others
By Vehicle Type:
Passenger Cars
LCV
HCV
By Sales Channel:
Original Equipment Manufacturers (OEM)
Aftermarket
By Region:
North America
Latin America
Western Europe
Eastern Europe
South Asia and the Pacific
East Asia
The Middle East and Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil and gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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