The automotive ignition coil market is expected to generate USD 3,289.60 million in 2023. Automotive ignition coil market revenue is expected to reach USD 5,108.65 million by 2033. A CAGR of 4.5% is expected for the automotive ignition coil market during the forecast period.
| Attributes | Key Insights |
|---|---|
| Automotive Ignition Coil Market Value in 2023 | USD 3,289.60 million |
| Projected Industry Value in 2033 | USD 5,108.65 million |
| Value-based CAGR from 2023 to 2033 | 4.5% |
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With connected vehicles gaining popularity, data analytics is being used to predict ignition system replacement needs and monitor their performance. Taking this into account, maintenance and replacement cycles may become more efficient.
As the automotive industry grows, environmental concerns become increasingly important. Ignition coil manufacturers may be concentrating on developing materials for ignition coils that are more recyclable and sustainable.
Key Automotive Ignition Coil Industry Trends:
In 2022, the market was worth USD 3,142.40 million. Between 2023 and 2033, automotive ignition coil demand is expected to increase at a 4.5% CAGR. Growing automotive industries around the world are creating a promising market outlook.
| Market Value in 2022 | USD 3,142.40 million |
|---|---|
| Market Value in 2023 | USD 3,289.60 million |
Regulatory changes, consumer preferences, and economic conditions can have a huge impact on the automotive market across different regions. Depending on the state of the market, ignition coil demand can increase or decrease in certain areas.
Automakers are downsizing engines and adding turbochargers for better fuel economy and performance, increasing the pressure and demands on ignition coils. As a result, advanced ignition coil technology may become more in demand. An ignition coil is often replaced in the aftermarket as part of routine maintenance or repairs. As vehicles age and accumulate mileage, ignition coil replacement becomes more imperative.
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Vehicle sales and production influence ignition coil demand. As new vehicle sales grow or surge, ignition coil demand in OEMs increases as well. With global emissions standards becoming more stringent, automakers are developing cleaner-burning engines. The improved ignition coil technology can lead to better combustion and reduced emissions, thus driving the demand for better ignition coils.
The ignition coil market is impacted by the electrification of vehicles, including hybrids and electric vehicles. Enthusiasts and car owners can upgrade the ignition system in a vehicle, including the ignition coils, for increased performance. Due to these upgrades, aftermarket demand may increase.
Automakers seeking to increase engine performance, fuel efficiency, and reliability can take advantage of developments in ignition coil technology, such as smart coils and coil-on-plugs. As consumers become aware of ignition coils' significance and role in engine performance, aftermarket demand will increase. Coils may become more popular as drivers realize the importance of maintaining the ignition system.
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This table illustrates the top five countries in terms of revenue, led by China and India. With rising disposable incomes and sales in the market, passenger cars can help automotive ignition coil sales grow.
Forecast CAGRs from 2023 to 2033
| Attributes | Details |
|---|---|
| The United Kingdom | 3.40% |
| India | 5.40% |
| China | 6.30% |
| The United States | 3.30% |
| Germany | 4.30% |
Recent years have witnessed steady growth in automotive ignition coils in the United States. A CAGR of 3.30% is projected for the market until 2033. A growing number of countries are employing cutting-edge technologies in ignition coils, which is expected to boost the demand for ignition coils. The demand for chrome-plated ignition coils in the United States is expected to be high.
Two Fuel Economy Programs encourage automakers to manufacture compact, fuel-efficient vehicles to reduce carbon footprints and pollution. In order to achieve higher fuel efficiency in these compact cars, double spark coils are increasingly being adopted. Therefore, the United States market for automotive ignition coils is likely to expand in the near future.
India has experienced an increase in the demand for automotive ignition coils in recent years. The market is expected to regiter a 5.40% CAGR until 2033. India's commercial and passenger vehicle sales are expected to gain momentum, resulting in an increase in demand for automotive ignition coils.
With the expansion of the automotive industry in developing countries like India, ignition coils have become increasingly popular. Throughout the forecast period, India is expected to witness high demand for aftermarket ignition systems, including ignition coils. High replacement rates for automobiles and rising disposable income are expected to drive demand.
China is expected to dominate the automotive ignition coil market. According to estimates, the market is likely to expand at a 6.30% CAGR until 2033. As electric vehicles become more popular, and EV production rises, demand for ignition coils in China is likely to increase. For instance, China saw sales of plug-in electric vehicles totaling 1.3 million units in 2020.
China is home to almost one-third of the world's luxury vehicles by value. Luxury cars generate a high demand for ignition coils in China, which is one of the world's largest markets for ignition coils. The increasing number of exports to China will increase the demand for ignition coils.
Germany is experiencing a surge in demand for high-end cars. A CAGR of 4.30% is anticipated from 2023 to 2033 for Germany. After the FQ-20, two-coil ignitions and pencil ignitions became more common due to the surge in the production of passenger cars.
Reports from industry associations showed that in March 2021, 378,669 cars were manufactured in Germany, an increase of 31% over March 2021. With an increasing number of cars being produced, automakers are increasingly using ignition coils to reduce pollution and improve engine efficiency.
The United Kingdom's automotive ignition coil industry are expected to lead the industry in the next few years. The market is expected to expand at a CAGR of 3.40% by 2033.
The presence of major automobile manufacturers will contribute to the market's growth. A rise in vehicle production and the adoption of advanced technologies in internal combustion engines are further expected to boost the market.
According to market forecasts, passenger car is expected to dominate the market until 2033, with a market share of 76.8% during the forecast period. According to the forecast, the double spark coil segment is expected to hold a market share of 58.5%.
| Attributes | Details |
|---|---|
| Passenger Car by Vehicle Type | 76.8% |
| Double Spark Coil by Product Type | 58.5% |
Based on the vehicle type, passenger cars are expected to dominate the market. Passenger cars are expected to account for 76.8% of the market share by 2033. Increasing passenger car sales and demand are expected to increase ignition coil demand. The number of passenger cars on the road has the greatest impact on demand. Replacement parts, including ignition coils, are typically in demand as the number of cars increases.
With age, different components, such as ignition coils, will wear out and need to be replaced more frequently. Car fleets that are ageing can lead to a higher demand for ignition coils. Technology advancements may make ignition coils more efficient and durable. A newer, more reliable ignition system can boost demand for older vehicles that are upgraded with these newer, more advanced systems.
Based on the product type, the double spark coil segment is predicted to dominate the market. The double spark coil market share is predicted to reach 58.5% between 2023 and 2033. Engines are designed to have double spark coils as a means of improving combustion. The air-fuel mixture is ignited efficiently and consistently with two spark plugs in each cylinder. By improving fuel efficiency and reducing emissions, fuel economy and emissions can be improved.
Racing vehicles, sports cars, and other high-performance engines often use double spark coils. A double spark coil can provide more precise ignition timing for these engines, which produces more power and requires more precise ignition timing. Fuel vaporization and combustion are slowed by colder conditions, making starting engines more difficult.
Double spark coils provide two ignition points, improving cold starting performance. In addition to enhancing ignition reliability, double spark coils can also reduce engine performance and emissions due to fewer misfires. A double spark coil can contribute to improving an engine's environmental performance and helping it meet emission regulations by reducing emissions.
Automotive ignition coil manufacturers are expanding their global presence through mergers and collaborations. Moreover, they are establishing strategic partnerships with OEMs to improve their competitiveness. The leading manufacturers of automotive ignition coils are developing cutting-edge technologies to expand their businesses.
| Attributes | Details |
|---|---|
| Estimated Market Size in 2023 | USD 3,289.60 million |
| Projected Market Valuation in 2033 | USD 5,108.65 million |
| Value-based CAGR 2023 to 2033 | 4.5% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Market Segments Covered | Product Type, Vehicle Type, Sales Channel, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| 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 |
Automotive ignition coil is expected to reach USD 3,289.60 million in 2023.
The automotive ignition coil market is expected to increase by a CAGR of 4.5% by 2033.
The automotive ignition coil industry is forecast to reach USD 5,108.65 million by 2033.
Passenger cars are expected to be the dominant vehicle type on the market.
The double spark coil segment is expected to dominate the automotive ignition coil market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Can-Type Ignition Coil 5.2. Electronic Distributor Coil 5.3. Double Spark Coil 5.4. Pencil Ignition Coil 5.5. Ignition Coil Rail 5.6. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type 6.1. Passenger Cars 6.2. Light Commercial Vehicles (LCV) 6.3. Heavy Commercial Vehicles (HCV) 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Original Equipment Manufacturers (OEM) 7.2. Aftermarket 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Denso Corporation 18.2. Federal-Mogul Corporation 18.3. NGK Spark Plug Co. Ltd. 18.4. BorgWarner Ludwigsburg GmbH 18.5. Valeo SA 18.6. Robert Bosch GmbH 18.7. Delphi Automotive PLC 18.8. Hitachi Automotive Systems Americas Inc. 18.9. Mitsubishi Electric Corporation 18.10. Standard Motor Products 18.11. Marshall Electric Corp 18.12. AcDelco 19. Assumptions & Acronyms Used 20. Research Methodology
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Automotive Ignition Coil Market
