Acumen Research and Consulting, estimates that the global vehicle ignition coil market is anticipated to reach market size of around US$ 8,000 Mn by 2027 and is anticipated to grow at a CAGR of around 4% in terms of revenue during the forecast period 2020 – 2027. An induction coil is used to generate an electric spark that ignites the air and fuel mixture in a compression cell that assists in the movement of the automobile ignition coil (also known as spark coils). These spindles help the motor operate smoothly and efficiently. Few coils have an internal resistor, and others depend on an outside resistor to limit the flow of the inflammatory bowl. Every ignition spinning system used to require a mechanical contact breaker and a condenser (condenser), but now electronic ignition systems use a transistor power to supply the ignition spin with pulses. This has affected the growth of the market for car inflammatory bows.
In order to prevent the back and the stalling of the engine, which is sure to raise the demand, the ignition body has to be well kept. Engine backfire indicate failure as an engine backfire when the spark in the combustion chamber is not generated which leads to poor energy efficiency. According to the data from the WHO, the standard of air quality which exceeds WHO guidelines and is unsuitable for living exposes 80% of people in urban areas. The data also state that approximately 7 million people are dying of air pollution every year. Emissions from vehicles make a significant contribution to global air pollution. Demand for higher inflammatory tension within a limited combustion chamber space is thus driving the need for the development of inflammation coils in order to reduce emissions and reduce fuel consumption. For instance, Diamond Electric MFG. Co., Ltd., Japan's latest ignition system has been developed that allows sparks to be discharged up to one thousandth of a second and provides high voltage. This offers efficient burning and a 2% rise in fuel consumption. Governmental organizations and organizations including the World Health Organization, the United States Environmental Protection Agency, the United Kingdom Environmental Protection Agency and the U.S. National Highway Traffic Safety Administration (U.S.) set guidelines and strict air pollution control and climate change rules and regulations. For instance, vehicle standards such as Clean Air Act Amendments (CAAA), A number of countries worldwide are implementing California Standards (CARb), Japanese gasoline and LPG car emissions standards, and Euro 5/6 standards to reduce air pollution. As a result, all the above factors propel the global automotive ignition coil market.
The market research study on “Vehicle Ignition Coil Market (By Type: Coil-on Plugs, Distributor-based Ignition Coils, Distributor-less, Others; By Vehicle Type: Passenger Car, LCV, HCV; By Distribution Channel: OEM, Aftermarket) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global vehicle ignition coil market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global vehicle ignition coil market are type, vehicle type, distribution channel, and major geographic regions. The vehicle ignition coil market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
North America is the world's largest share of revenues and its position is expected to remain in the forecast period. An significant part of the automobile industry, and the automobile ignition coil market, then plays a major role for growth in per capita income, strict safety requirements and increased demand for premium and luxury cars from countries in the region. Recent developments reveal that key players concentrate on internal comfort constantly, as they aim to improve passenger experience in the vehicle. The automotive industry is also strictly subject to stringent requirements and regulations that affect the function of the automotive ignition belt further. In the next 10 years, the Europe market accounts for the second largest turnover share in the global market. In the next 10 years, the Asia Pacific market will be the highest in CAGR. Asia, which is referred to as the base of production of vehicles, is projected to fuel business growth along with rising demand for vehicles from China , South Korea and India. In addition, moderate growth is expected to be experienced in the Middle East and Africa market over the projected period.
Major players included in this report are Denso, Hitachi automotive, BorgWarner, Federal-Mogul, Diamond Electric Mfg. Corp, HELLA GmbH & Co. KGaA, NGK Spark Plug, Mitsubishi Electric Corporation, Robert Bosch, Valeo SA, and others.
The global vehicle ignition coil market is segmented as below:
Vehicle Ignition Coil Market By Type
Distributor-based Ignition Coils
Vehicle Ignition Coil Market By Vehicle Type
Vehicle Ignition Coil Market By Distribution Channel
Vehicle Ignition Coil Market By Geography
Middle East & Africa
Rising automotive production, and stringent rules and regulations regarding fuel efficiency, emission norms is expected to drive the growth of the vehicle ignition coil market.
Adoption of electric cars and ongoing R&D activities in powering cars with solar energy is a major factor expected to restraint the growth of the market.
The market value of vehicle ignition coil is anticipated to be around US$ 8,000 Mn in 2027.
It is anticipated to grow around 4% CAGR amid the forecast period.2020-2027
The key players operating in vehicle ignition coil market such as Denso, Hitachi automotive, BorgWarner, Federal-Mogul, Diamond Electric Mfg. Corp, HELLA GmbH & Co. KGaA, NGK Spark Plug, Mitsubishi Electric Corporation, Robert Bosch, Valeo SA, and others.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
North America held maximum share in 2019.