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

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

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Deep dive regional level analysis of the industry.

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