Automotive ignition coil Market was valued at more than USD 10 billion in 2020 and is expected to grow at a CAGR of around 3% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the Automotive ignition coil Market was valued at more than USD 10 billion in 2020 and is expected to grow at a CAGR of around 3% from 2022-2028. The analysis has been segmented into Type (Coil-On-Plug, Distributor Based, Distributor Less, and Others); Vehicles Type (Passenger Cars and Commercial Vehicles); Sales Channel (OEM and Aftermarket); Region/Country.
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The automotive ignition coil Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive ignition coil Market. The automotive ignition coil Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive ignition coil Market at the global and regional levels.
Market Overview
In an automobile's ignition system, an induction coil is used to convert the battery's low voltage into the thousands of volts needed to produce an electric spark. Automotive ignition coil coils, also known as spark coils, are crucial to the engine's smooth and effective operation. Can-type ignition coils, electronic distributor coils, double spark coils, pencil ignition coils, ignition coil rails, are different types of ignition coils. The automotive ignition coil is used in passenger cars, HCV, LCV, and other vehicles. The key players in the market are expanding manufacturing capability globally to meet up the demand of the market. For instance, In March 2021, Diamond Electric Mfg. Co. Ltd, a company that designs, manufactures and supplies automotive electric components announced that it will build a new ignition coil manufacturing plant in West Virginia, U.S. This will increase the production capacity of the company by 20%.
Some of the major players operating in the market include BorgWarner Inc, Diamond Electric Mfg., DENSO Corporation, Federal-Mogul Corporation, Hella KGaA Hueck & Co., Hitachi, Ltd, Mitsubishi Electric Corporation, NGK SPARK PLUG CO LTD, Robert Bosch GmbH, Valeo
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COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the automotive industry and has transformed the way industry is delivered. The automotive ignition coil Market has been significantly affected during these times owing to the restriction on import and export and limitations in travelling.
The global Automotive ignition coil Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is segmented into coil-on-plug, distributor based, distributor less, and others. The coil-on-plug category to witness higher CAGR during the forecast period. Coil-on-plug intended to distribute the ignition spark to the fuel in the combustion chamber in an effective manner. Moreover, it conveys from 30 to 60 thousand of volts straight forwardly to the flash fitting various times each moment. The connection between the coil and spark plugs is made by the coil-on-plug boot.
· Based on vehicle type, the market is categorized into passenger cars and commercial vehicles. Among these, the passenger cars to hold a significant share in the market during the forecast period. This is mainly due to the metropolitan populace and the necessity for driving. The interest is extending as individuals become more worried about rising contamination levels and their low running expenses.
· Based on sales channel, the automotive ignition coil market has been classified into OEM and aftermarket. The aftermarket category is to witness higher CAGR during the forecast period. This is mainly due to rising air pollution and rising consumer demand. However, it is anticipated to expand rapidly and will boost up the growth of the market.
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Automotive ignition coil Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
· For a better understanding of the market adoption of the Automotive ignition coil System industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Globally, North America is the leading market for automotive ignition coil systems due to the wide acceptance of advanced technology in the U.S. automotive industry, one of the major dealer management systems markets, and the concentration of major global players. It occupies a large share in the system market.
The major players targeting the market include
· BorgWarner Inc
· Diamond Electric Mfg. Corp
· DENSO Corporation
· Federal-Mogul Corporation
· Hella KGaA Hueck & Co.
· Hitachi, Ltd
· Mitsubishi Electric Corporation
· NGK SPARK PLUG CO LTD
· Robert Bosch GmbH
· Valeo
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive ignition coil Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the automotive ignition coil market?
• Which factors are influencing the Automotive ignition coil Market over the forecast period?
• What are the global challenges, threats, and risks in the automotive ignition coil market?
• Which factors are propelling and restraining the automotive ignition coil market?
• What are the demanding global regions of the automotive ignition coil market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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