Automotive Ignition Coil Market To Witness Double Digit Cagr By 2027


Global Automotive Ignition Coil Market - Insights
An ignition coil is an induction coil in an automobile's ignition system. An ignition coil transforms the 12-volt current from a battery into the high-voltage current required by spark plugs to ignite the combustible gas. The demand for automotive ignition coil is high in the automobile industry, owing to increasing demand for vehicles and growing need for efficient fuel combustion system. For instance according to International Organization of Motor Vehicle Manufacturers the production of passenger cars increased from 3,961,327 in 2017, to 4,064,774 in 2018.
Browse Complete Report For More Information @
An ignition coil in an automobile's ignition system create an electric spark in the spark plugs to ignite the fuel. The demand for automotive ignition coils is significantly increasing, owing to high number of vehicles produced and implementation of fuel efficiency norms and stringent emission regulations. However, increasing demand for electric and hybrid cars may decrease usage of ignition coil as these cars do not require ignition coil. This can be one of the major factors restraining growth of the automotive ignition coil market during the forecast period.
Market Dynamics
Increasing demand for vehicles and rapid development in automotive sector are the major factors driving growth of the automotive ignition coil market. For instance, According to Indian Brand Equity Foundation (IBEF), India automotive sales increased 9.5% year-on-year to 4.02 million units (excluding two wheelers) in 2017. Further, sales of compact or mid-size cars accounts for 55%-63% share of the global car sales. Increasing demand for cars create significant requirement of deploying ignition coils in these cars thus offering lucrative growth opportunities for the growth of automotive ignition coils market.
Some of the key players operating in the global automotive ignition coil market include, Delphi Automotive LLP, Continental AG, Marshall Electric Corp, DENSO Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Toyota, Nissan Motor Co., Ltd, Hitachi Automotive Systems Americas, Inc., BorgWarner Inc., and others.

Detailed Segmentation:
  • Global Automotive Ignition Coil Market, By Product Type:
    • Can-type Ignition Coil
    • Double Spark Coil
    • Electronic Distributor Coil
    • Ignition Coil Rail
    • Pencil Ignition Coil
    • Others
  • Global Automotive Ignition Coil Market, By Vehicle Type:
    • Heavy Commercial Vehicles
    • Light Commercial Vehicles
    • Passenger Cars
  • Global Automotive Ignition Coil Market, By Sales Channel:
    • OEM
    • Aftermarket

Comments

Post a Comment