Automotive Ignition Coil Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Automotive ignition Market is expected to grow at a significant rate of around 3% during the forecast period. 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 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 are actively investing to maintain strong position in the market. For instance, in September 2021, Hitachi Astemo announced that it would invest USD 56 million over two years to improve industrial safety at its three plants in Lerma, thus contributing to the creation of 480 new jobs. The plants employ more than 2,700 people who manufacture water pumps, balancers, ignition coils, oil control valves, airflow sensors, pistons, shock absorbers, and brake castings for Nissan, Ford, Honda, GM, Mazda, and Stellantis.

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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, Coil-On-Plug category to witness robust CAGR during the forecast period”

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.

“Amongst vehicle type, the passenger cars to hold a significant share in the market in 2020”

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.

“Amongst sales channel, the aftermarket to grow with highest CAGR during the forecasted year”

Based on sales channel, the automotive Ignition 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.

“APAC to grow with highest CAGR during the forecasted year”

For a better understanding of the market adoption of the Automotive Ignition 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. APAC is anticipated to grow at a substantial CAGR during the forecast period as smart cities will accelerate the development of the automotive ignition coil market. Moreover, numerous beneficial government efforts aimed at revitalizing the automobile industry are expected to boost market growth in these regions. In addition, the

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global automotive ignition market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Automotive Ignition Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive ignition market were the three major steps undertaken to create and analyze the adoption of automotive ignition in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Automotive ignition market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the automotive ignition market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the automotive ignition market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, vehicle type, and sales channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Automotive ignition market. Further, we conducted factor analysis using dependent and independent variables such as type, vehicle type, and sales channel of automotive ignition. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive ignition market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive ignition market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive ignition market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global automotive ignition market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive ignition market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, vehicle type, and sales channel in the global automotive ignition market.

The main objective of the Global Automotive Ignition Market Study

The current & future market trends of the global automotive ignition market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the automotive ignition market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, vehicle type, and sales channel.
• Define and analysis of the regulatory framework for the automotive ignition
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the automotive ignition market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Automotive ignition market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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