Automotive Ignition Coil Market size is expected to surpass USD 16 Billion by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive ignition coil was USD 10 Billion. 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.
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.
Growth Drivers
Growing Demand for Battery Replacement - It was found that nearly 100 million car batteries are replaced every year in the United States.
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.
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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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Vehicle Type (Passenger Cars, Heavy, Light Commercial Vehicles)
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.
Distribution Channel (Original Equipment Manufacturers (OEMs), Aftermarket)
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 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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APAC Market Statistics
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.
Standard Motor Products, Inc.
Company Overview
Standard Motor Products Inc. announced that it would continue to add to its ignition coil program. The program is working to facilitate above 800 coils capable of covering 99% coverage for both domestic and imported vehicles. The coil offered by the company is developed to provide prolonged service life and durability.
BorgWarner Inc. to supply its highly robust and modular 90mJ single spark ignition coil for Daimler’s in-line gasoline engines, M260 and M264 4-cylinder. These ignition coils are being supplied to the Chinese and European markets.
Author Credits: Harshita Srivastava, Saima Khursheed
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