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Automotive Ignition Coil Market Analysis by Product Type (Conventional Breaker-Point, High Energy, Distributor-Less, and Coil-on-Plug); by Vehicle Type (Passenger Cars and Commercial Vehicles); and by Distribution Channel (Original Equipment Manufacturers (OEMs) and Aftermarket) - Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Standard Motor Products Inc. - announced that it continued to add to its ignition coil program. It includes over 800 coils providing nearly 99% coverage for import and domestic vehicles.

  • BorgWarner Inc. - supplied its highly robust and modular 90mJ single spark ignition coil for Daimler’s in-line gasoline engines, M260 and M264 4-cylinder for the European and Chinese markets.

 

Global Automotive Ignition Coil Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~3%

Base Year Market Size (2022)

~ USD 11 Billion

Forecast Year Market Size (2033)

~ USD 16 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

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 ~3% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 11 billion in the year 2022. The growth of the market can primarily be attributed to the increasing number of automobiles with the surge in the trade of ignition coils, as demand for auto parts is rising worldwide. For instance, it was found that the distributors and ignition coils were the world's 1371st most traded products in 2020, with a total trade value of more than USD 1.5 billion.

ignition coil market overview image

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Today most ignition coil systems use a power transistor to provide pulses to the ignition coil. The growing demand for power transistors will escalate the demand for ignition coils too. 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.

Global Automotive Ignition Coil Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Replacement of Batteries - battery is a key component of the battery ignition system. The battery acts as a power source in this system. The rising demand for batteries is expected to propel the automotive ignition coil market in the forecasted period. It was found that nearly 100 million car batteries are replaced every year in United States.

  • Increasing Use of Power Transistors - for instance, the global sales of power transistors amounted to around USD 17 billion in 2019.

  • Rising Demand for Electric Vehicles – for instance, it is projected that nearly 50% of vehicles will be electric across the globe, by 2035.

  • Upsurge in the Revenue of the Auto Components Industrywhich in India registered a turnover of about USD 56 billion in 2021-22.

  • Rising Volume of Vehicles - there are more than 1 billion cars worldwide in 2022.

Challenges

  • Concern about 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, they could result in faulty ignition and difficulty starting the engine.

  • High Cost Involved in the Research & Development

  • Stringent Government Regulations for Emission Norms

The global automotive ignition coil market is segmented and analyzed for demand and supply by vehicle type into passenger cars and commercial vehicles. Amongst these segments, the commercial vehicles segment is anticipated to garner the largest revenue by the end of 2033, backed by the rising production of commercial vehicles worldwide, escalating the demand for essential parts of the ignition system. For instance, the global production of commercial vehicles was more than 23 million units in 2021.

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. backed by the presence of a strong automotive parts manufacturing network in the region, and the rising export of automotive parts from the region to the world with growing production of automotive. 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.ignition coil market share image

Market Segmentation

Our in-depth analysis of the global automotive ignition coil market includes the following segments:

     By Product Type

  • Conventional Breaker-Point
  • High Energy
  • Distributor-Less
  • Coil-on-Plug

     By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

     By Distribution Channel

  • Original Equipment Manufacturers (OEMs)
  • Aftermarket

Top Featured Companies Dominating the Global Automotive Ignition Coil Market

  • 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. Corporation
  • Hitachi, Ltd.
  • Mitsubishi Electric Corporation
  • Robert Bosch GmbH
  • NGK Spark Plug Co., Ltd.
  • Valeo

 

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