Global Automotive Ignition Coil Market Definition
An ignition coil, also known as an induction coil, is an induction coil used in the ignition system of automobiles. The main purpose of the ignition system is to transform the voltage of the battery to create an electric spark to ignite the fuel. Modern ignition coils are smaller as they only need to power 1 or 2 spark plugs each and can be mounted either remotely or directly on top of the spark plug – called coil-on-plug or direct ignition. The automotive ignition coil is made from a laminated iron core and two coils of copper wire.
Ignition coils have open magnetic circuits, while other power transformers do not comprise any of them. Formerly, automotive ignition coils were made of high-voltage windings insulated with paper and varnish. Now, ignition coils are filled with epoxy resins that can flow through the void in the windings. In modern times, single-spark ignition systems are available and include one coil per spark plug. Worn-out or bad spark plugs are what cause ignition coils to go bad.
Problems associated with the plug wire or spark plugs cause significant issues in the automotive ignition coil by creating overheating, excessive vibration, extra moisture, a spark plug gap, and others. These problems can be detected easily by people without any technical knowledge. Overheating and excessive moisture in the ignition system is generally caused by extreme weather conditions.
Global Automotive Ignition Coil Market: Key Insights
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~4% |
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Base Year Market Size (2022) |
~ USD 10 Billion |
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Forecast Year Market Size (2033) |
~ USD 16 Billion |
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Regional Scope |
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Global Automotive Ignition Coil Market Size, Forecast, and Trend Highlights Over 2023 - 2033
The global automotive ignition coil market is estimated to garner a revenue of USD 16 Billion by the end of 2033 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 10 Billion in the year 2022. The growth of the market can be attributed to the increasing number of automobiles and the surge in the trade of ignition coils, backed by the escalating demand for auto parts owing to the noteworthy surge in the production of automobiles. In modern times, each family owns some sort of automobile for multiple purposes, and this factor is estimated to hike the demand for ignition coils globally during the forecast period. For instance, it was found that distributors and ignition coils were the world's 1371st most traded products in 2020 across the globe, with a total trade value of more than USD 1.5 billion.
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Global automotive ignition coil market trends such as, the growing demand for power transistors will escalate the demand for ignition coils too. For instance, in 2021, the sales of power transistors reached to approximately USD 15 billion. Also, the growth can be attributed to the recent advancements in the technique of direct ignition. While some coils depend on internal resistors, some depend on external resistors to limit the current flow in the coil. Today, most ignition coil systems use a power transistor to provide pulses to the ignition coil.
Global Automotive Ignition Coil Market: Growth Drivers and Challenges
Growth Drivers
- Growing Demand for Battery Replacement - It was found that nearly 100 million car batteries are replaced every year in the United States.
The battery is a key component of the battery ignition system. The battery acts as a power source in this system. The battery ignition system is the primary system in automobiles to generate energy. Furthermore, the automotive battery is considered to be the heart of the electrical system of the vehicle. The rising demand for batteries is expected to propel the automotive ignition coil market in the forecasted period.
- Increment in the Utilization of Power Transistors – Power transistors are used to control higher current circuits at lower voltages, and it is anticipated to drive the global automotive ignition coils market. For instance, the global sales of power transistors amounted to around USD 17 billion in 2019.
- Increasing Sales and Production of Electric Vehicle – As of 2021, the global sales of electric light vehicles were expected to reach approximately 6 million units, up from 2 million units. Furthermore, approximately 12 million battery electric vehicles (BEVs) are expected to be produced by China in 2023.
- Growth in the Auto Components Industry to Boost the Production of Ignition Coils– The auto component industry is flourishing Y-O-Y owing to ongoing innovations and a surge in investment by multiple organizations and companies. For instance, in 2021-22, the turnover registered by the auto component industry in India was projected to be around USD 56 million.
- Escalation in the Number of Cars on the Road – As of 2022, around 1 billion cars were observed to be driven on the road. Additionally, 65 million automobiles were projected to be sold out across the globe.
Challenges
- Concern About a Malfunctioning Ignition Coil – As it can cause the car to stall as a result of irregular sparks sent by the spark plug. Many modern engines have multiple ignition coils and if they have several bad ignition coils, it could result in faulty ignition and difficulty starting the engine.
- High Cost Involved in the Research & Development
- Stringent Government Regulations for Emission Norms
Market Segmentation
The global automotive ignition coil market is segmented and analyzed for demand and supply by vehicle type into passenger cars, heavy commercial vehicles, and light commercial vehicles. Out of the three types of vehicles, the heavy commercial vehicles segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing demand for heavy commercial vehicles, backed by the growth in the transportation sector. The heavy commercial vehicle division is projected to be a highly growing division in the commercial vehicle sector. HVCs are vehicles for above 40 tons GVW such as, trucks. These vehicles are used to transport commodities such as, fertilizers, grains, cement, metals, and others. For instance, in 2021, more than USD 2.5 trillion was exhibited by the automotive manufacturing industry where it produced approximately 20 million units of heavy commercial vehicles across the globe.
The global automotive ignition coil market is also segmented and analyzed for demand and supply by distribution channel into original equipment manufacturers (OEMs), and aftermarket. Amongst these two segments, the original equipment manufacturers (OEMs) segment is expected to garner a significant share. Original equipment manufacturers have a significant role to play in the mobility and automotive industries. These manufacturers are known to reduce the cost of manufacturing automotive parts and are useful in making custom parts to meet the requirements of end-users. Moreover, parts made by original equipment manufacturers are robust and durable, which is essential to preventing any sort of accident on the roads. In 2020, more than 40,000 people lost their lives in car crashes.
Our in-depth analysis of the global automotive ignition coil market includes the following segments:
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By Product Type |
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By Vehicle Type |
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By Distribution Channel |
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Global Automotive Ignition Coil Market Regional Synopsis
The Asia Pacific automotive ignition coil market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the presence of a strong automotive parts manufacturing network in the region, and the rising export of ignition coils from the region to the world, backed by the growing production of automotive parts and automobiles. For instance, the top exporters of ignition coils and distributors in 2020 were China and Japan, with a value of over USD 390 million and USD 2oo million, respectively. Asia Pacific has a robust infrastructure of the automotive industry that combines nearly 580 million people and a GDP of approximately USD 2 trillion. Furthermore, in India, approximately 300 million units of vehicles are observed to be in operation in India. In addition to this, the various regulations by the government of nations are promoting the manufacturing of electric vehicles to curb carbon emissions in the region. Hence, all these factors are estimated to influence the market growth positively in the region during the forecast period.
Top Featured Companies Dominating the Global Automotive Ignition Coil Market
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Standard Motor Products, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- BorgWarner Inc.
- DENSO Corporation
- Diamond Electric Mfg. Corp
- Hitachi, Ltd.
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- NGK Spark Plugs USA, Inc.
- Federal-Mogul Corporation
- Valeo SA
