Analysis Report of Automotive Ignition Coil Market 2016-2026
Press Release – 18
Jan 2019
Research
and Development News
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Latest
Update
"Automotive Ignition Coil Market: Passenger Cars Vehicle Type
Segment to Outpace LCV and HCV Segments in terms of Value and Volume
During the Forecast Period: Global Industry Analysis and Opportunity
Assessment, 2016-2026"
with Industries Survey | Global Current Growth and Future.
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the global sales of automotive ignition coil is
estimated to be nearly US$ 2,550 Mn in the year 2017 and is projected
to be valued at close to US$ 3,820 Mn by the year 2026, registering a
CAGR of 4.5% during the forecast period. The global automotive
ignition coil market is projected to represent an incremental dollar
opportunity of nearly US$ 1,400 Mn between 2016 and 2026.
“Rising automotive production and vehicle parc aiding the growth of the global automotive ignition coil market”
The rise in the sales of automobiles globally and an increase in vehicle parc positively affect the sales of automotive ignition coils.
“Rising automotive production and vehicle parc aiding the growth of the global automotive ignition coil market”
The rise in the sales of automobiles globally and an increase in vehicle parc positively affect the sales of automotive ignition coils.
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Even though
the recent economic conditions the world over have remained unstable;
on an average, the global automotive industry has witnessed
satisfactory growth. This is especially true of the emerging
economies, where the automotive production is expected to be
significant as compared to developed economies. This is mainly
because of rising urbanisation, per capita income growth and a rise
in the living standards in these emerging economies. During the
assessment period, fleet on road is also expected to rise at a modest
rate, thus providing an impetus for the growth of the global
automotive ignition coil market.
“Stringent fuel efficiency and emission norms play an important role in shaping the global automotive ignition coil market”
Globally, there is an increased emphasis on sustainability and support for lower fuel consumption along with lower emissions, in order to protect the environment and curb air pollution. Hence, automotive market players are innovating and developing new ways to enhance the overall efficiency of the automobiles. Keeping these points in mind, and owing to the requirement for higher ignition voltage coupled with restricted space in the engine compartment, there are increasing novel demands for modern ignition coils.
“Stringent fuel efficiency and emission norms play an important role in shaping the global automotive ignition coil market”
Globally, there is an increased emphasis on sustainability and support for lower fuel consumption along with lower emissions, in order to protect the environment and curb air pollution. Hence, automotive market players are innovating and developing new ways to enhance the overall efficiency of the automobiles. Keeping these points in mind, and owing to the requirement for higher ignition voltage coupled with restricted space in the engine compartment, there are increasing novel demands for modern ignition coils.
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In
addition, the mixture of air and fuel must be ignited at the right
time with optimum ignition energy so that fuel present in the engine
is combusted completely. For the same reason, there is an increased
adoption of advanced ignition coils that meet these stringent
criteria. This in turn is driving the demand in the overall market
for advanced ignition coils and thereby creating a positive impact on
the global automotive ignition coil market.
“Increasing demand for vehicles that do not require an ignition coil hampering the growth of the market”
In order to tackle the threat of increasing air pollution originating from the exhaust of automobiles plying on the roads, there is an increased emphasis on the development of vehicles that run on alternative power sources. Combined with this, fluctuation in oil prices further aggravates the situation and fossil fuel based economic development is not perceived as sustainable. Especially in developed regions such as North America and Europe, there is an increasing adoption and use of electric cars such as battery electric vehicle (BEV) and plug-in hybrid electric vehicles (PHEV) and their use has increased manifold over the past few years. Furthermore, the research and development going on in powering cars with solar energy has further intensified the market growth of such vehicles.
“Increasing demand for vehicles that do not require an ignition coil hampering the growth of the market”
In order to tackle the threat of increasing air pollution originating from the exhaust of automobiles plying on the roads, there is an increased emphasis on the development of vehicles that run on alternative power sources. Combined with this, fluctuation in oil prices further aggravates the situation and fossil fuel based economic development is not perceived as sustainable. Especially in developed regions such as North America and Europe, there is an increasing adoption and use of electric cars such as battery electric vehicle (BEV) and plug-in hybrid electric vehicles (PHEV) and their use has increased manifold over the past few years. Furthermore, the research and development going on in powering cars with solar energy has further intensified the market growth of such vehicles.
This,
coupled with increasing urban population, incentives for electric
vehicles, decreasing battery prices, strengthening public
transportation infrastructure in developed and emerging countries and
inter-governmental initiatives for electric vehicles are promoting
the use and propagation of electric cars all across the world. As
ignition coils are not used in electric cars, the aforesaid factors
are expected to pose a significant challenge to the growth of the
global automotive ignition coil market over the coming
years.
“Global Automotive Ignition Coil Market Attractiveness Analysis, by Vehicle Type”
As far as vehicle type segment is concerned, the passenger cars segment with a market attractiveness rating of 5.0 is expected to be a highly attractive segment during the forecast period in the global automotive ignition coil market. The passenger cars segment is expected to witness growth mainly due to increasing demand for compact cars. This segment is estimated to be valued at more than US$ 1,920 Mn in 2017 and this is anticipated to increase to approximately US$ 2,965 Mn by the end of the forecast period, witnessing the highest segmental value CAGR of 4.8% in the global automotive ignition coil market.
The HCV segment is projected to account for about 5.1% of the total market share in terms of value during the assessment period. The LCV segment is expected to exhibit a CAGR of 3.1% in terms of value during the assessment period.
“Global Automotive Ignition Coil Market Attractiveness Analysis, by Vehicle Type”
As far as vehicle type segment is concerned, the passenger cars segment with a market attractiveness rating of 5.0 is expected to be a highly attractive segment during the forecast period in the global automotive ignition coil market. The passenger cars segment is expected to witness growth mainly due to increasing demand for compact cars. This segment is estimated to be valued at more than US$ 1,920 Mn in 2017 and this is anticipated to increase to approximately US$ 2,965 Mn by the end of the forecast period, witnessing the highest segmental value CAGR of 4.8% in the global automotive ignition coil market.
The HCV segment is projected to account for about 5.1% of the total market share in terms of value during the assessment period. The LCV segment is expected to exhibit a CAGR of 3.1% in terms of value during the assessment period.
“Pencil ignition coil is the most
attractive product type and the Asia Pacific Excluding Japan region
is the most attractive region in the global automotive ignition coil
market”
The pencil ignition coil product type segment remains the key product type segment, accounting for over 1/3rd of the total automotive ignition coil sales in the year 2015. Due to the reduction in the size of engines, the production of pencil type ignition coil receives a further boost. As far as the most lucrative and dynamic region is concerned, Asia Pacific Excluding Japan (APEJ) and Western Europe are likely to remain at the forefront in the global automotive ignition coil market (both from the supply side and demand side) all through the assessment period. There is a significant market potential in the growing markets of China, India and Germany.
The pencil ignition coil product type segment remains the key product type segment, accounting for over 1/3rd of the total automotive ignition coil sales in the year 2015. Due to the reduction in the size of engines, the production of pencil type ignition coil receives a further boost. As far as the most lucrative and dynamic region is concerned, Asia Pacific Excluding Japan (APEJ) and Western Europe are likely to remain at the forefront in the global automotive ignition coil market (both from the supply side and demand side) all through the assessment period. There is a significant market potential in the growing markets of China, India and Germany.
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