Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

An ignition coil is an induction coil in an automobile’s ignition system, used to transform the battery’s low voltage to thousands of volts required to create an electric spark. Automotive ignition coils also called spark coils and play a vital role in the efficient and smooth operation of the engine. There are different types of ignition coils namely can-type ignition coil, electronic distributor coil, double spark coil, pencil ignition coil, ignition coil rail, etc. Automotive ignition coil finds applications in passenger cars, HCV, LCV, etc.

The global Automotive Ignition Coil Market was accounted for US$ 2,757.4 Mn in terms of value and 113,758 thousand units in terms of volume in 2019 and is expected to grow at CAGR of 4.5% for the period 2020-2027.

Market Dynamics- Drivers

  1. Rising automotive production and vehicle parc are expected to drive growth of the global automotive ignition coil market during the forecast period

Sales of automotive ignition coil are directly proportional to automotive production and vehicle parc. Although economic conditions have been unstable in the recent past, the global automotive industry has witnessed significant growth. As a matter of fact, automotive production is expected to be significant in emerging economies as compared to developed countries. This is owing to growing urbanization rising per capita income and changing living standards. Therefore, these factors are expected to drive growth of the global automotive ignition coil market during the forecast period.

  1. Strict regulatory norms for emission and fuel efficiency are expected to propel the global automotive ignition coil market growth over the forecast period

Currently, automotive market players are required to develop vehicles that possess robust fuel efficiency and comply with stringent emission norms. Since there is a global trend of sustainability to support low fuel consumption, the demand for higher ignition voltage, restricted space in the engine compartment, other design-related demand for modern ignition coils is constantly increasing. Furthermore, the mixture of fuel and air must be ignited at the right time with the optimum ignition energy, in order to commence complete consumption of the fuel.  Hence, these factors are expected to propel the market growth in the near future.

Statistics:

Asia Pacific held dominant position in the global Automotive Ignition Coil market in 2019, accounting for 52.7% share in terms of value, followed by Europe and North America respectively

Figure 1: Global Automotive Ignition Coil Market Share (%) in terms of Value, By Region, 2019

Automotive Ignition Coil  | Coherent Market Insights

Global Automotive Ignition Coil Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 Pandemic have affected the economies of various countries adversely around the globe. According to the International Monetary fund data published in 2020, the global economy is expected to reduce by 3% percent in the year 2020 compared to 2019. These economic slowdown expected to affect various sectors such as Automotive, which can hamper the Ignition coil market. Moreover, due to the reduction in the size of global economy the spending or purchasing power of people also decreases. People around the globe are spending more on the sanitization products and food than the luxury products such as cars. Owing to the mentioned factors, the COVID-19 pandemic is expected to restrain the market growth during the year 2020-2021.

Market Dynamics- Restraints

  1. High demand for electric and hybrid vehicles is expected to restrain growth of the global automotive ignition coil market during the forecast period

Consumers across the globe have started adopting batter electric vehicle and plug0-in hybrid vehicle, in order to tackle rising environmental pollution. In fact, governments of many countries across the globe are encouraging adoption of electric vehicles. In developed regions including, Europe, North America, etc. the adoption of electric cars such as battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) has increased in the recent past. The developments in the direction to harness solar energy to power automobiles further intensify the market growth of such vehicles. Since these vehicles do not use automotive ignition coil, its demand has been hampered significantly. Thus, these factors are expected to restrain growth of the market in the near future.

  1. Increasing demand compact ignition coil due to engine downsizing and technological advancements in solar energy are expected to hinder the global automotive ignition coil market growth over the forecast period

Automobile manufacturers are demand compact ignition coils since they are focused on engine downsizing. This helps to reduce the overall weight of the vehicle and thereby enhance the fuel efficiency of the car. Furthermore, technological advancements in solar energy have hindered the demand for automotive ignition coil. Hence, these factors are expected to hamper the global automotive ignition coil market growth over the forecast period.

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Automotive Ignition Coil Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 2,757.4 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 4.5% 2027 Value Projection: USD 3,988.1 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Product Type -(Can-type Ignition Coil, Electronic Distributor Coil, Double Spark Coil, Pencil Ignition Coil, Ignition Coil Rail and Others)
  • By Sales Channel -(OEM and Aftermarket)
  • By Vehicle Type -(Passenger Cars, LCV and HCV)
Companies covered:

Denso Corporation, AcDelco, Federal-Mogul Corporation, Marshall Electric Corp, NGK Spark Plug Co., Ltd, Standard Motor Products, BorgWarner Ludwigsburg GmbH, Mitsubishi Electric Corporation, Valeo SA, Hitachi Automotive Systems Americas, Inc., Robert Bosch GmbH, and Delphi Automotive plc.

Growth Drivers:
  • Rising automotive production and vehicle parc
  • Strict regulatory norms for emission and fuel efficiency
Restraints & Challenges:
  • High demand for electric and hybrid vehicles

Market Opportunities

  1. Strategic joint venture with other market players can present lucrative growth opportunities

Key players in the market are focused on a strategic joint venture, in order to enhance the market presence. For instance, in April 2016, Denso Corporation entered into a joint venture with Toyota Tsusho Corporation in Bangkok, Thailand. Furthermore, in March 2016, Denso formed a joint venture with Kingtec Technologies (Heyuan) Co. Ltd., a China-based company that designs, sells and manufactures truck refrigeration in China as well as other countries of the world.

  1. Increasing e-tailing can provide major business opportunities

E-tailing is a fast growing retail sector in the automotive aftermarket and is becoming a significant revenue stream for auto parts sales. Component manufacturers such as Bosch and Denso have their own portal to sell products online. Other prominent e-tailing companies include Auto Car Parts, Rock Auto, and Amazon.

Figure 2: Global Automotive Ignition Coil Market Value (US$ Mn), 2017 - 2027

Automotive Ignition Coil  | Coherent Market Insights

The global Automotive Ignition Coil market was valued at US$ 2,757.4 Mn in 2019 and is forecast to reach a value of US$ 3,988.1 Mn by 2027 at a CAGR of 4.5% between 2020 and 2027.

Market Trends

  1. Trends by product type

Energy downsizing to support the demand for pencil ignition coils

Engine downsizing is important when it comes to augmenting fuel efficiency of the vehicle by cutting down its overall weight. Since modern engines are more compact than conventional ones, they require more efficient components to occupy small space inside the cabin. For instance, pencil ignition coil is very compact in size and takes a little space in the engine bay.

  1. Trends by vehicle type

Rising demand for compact cars, HCV, and electric hybrid cars

According to Coherent Market Insights’ analysis, sales of compact is between 55% and 63% of global car sales. Moreover, in emerging economies such as Brazil, Mexico, South Africa, and India, there is an increasing demand for HCV mainly due to growing commercial activities in these regions. In developed countries such as Japan, the U.S., France, and the U.K., adoption of electric hybrid vehicles is increasing moderately due to stringent emission norms and rising demand for fuel-efficient vehicles.

Regulations

European standards for exhaust emissions

Various Euro standards were introduced regarding the emission of tailpipe pollutants and also evaporative emissions form the vehicles fuelling system. In 1991, first ‘Euro’ standards were introduced for passenger cars with ‘Euro 0’. Nowadays vehicles are manufactured so as to meet Euro 6 standards

Automotive Ignition Coil  | Coherent Market Insights

Competitive Section

Key players operating the global automotive ignition coil market are Denso Corporation, AcDelco, Federal-Mogul Corporation, Marshall Electric Corp, NGK Spark Plug Co., Ltd, Standard Motor Products, BorgWarner Ludwigsburg GmbH, Mitsubishi Electric Corporation, Valeo SA, Hitachi Automotive Systems Americas, Inc., Robert Bosch GmbH, and Delphi Automotive plc.

Key Developments

  1. Key companies in the market are focused on product launches, in order to enhance the product portfolio. For instance, in February 2020, Denso Products and Services Americas, Inc., a subsidiary of Denso Corporation, introduced new coil-on-plug (COP) part numbers for Honda and Acura models.
  2. In November 2018, Standard Motor Products introduced an expanded Blue Streak program that features 38 new heavier-duty, longer-lasting ignition coils.

An ignition coil also called spark coil transforms the battery’s low voltage that is needed to produce an electric spark to ignite the fuel. Automotive ignition coils are also called as spark coils. Ignition coil plays an important role in efficient and smooth operation of the engine. Pencil ignition coil segment is among the top product types of automotive ignition coil. The older versions of ignition coils are losing popularity among end-users, owing to their large size and inefficient working as compared to the newer and compact coils.

Market Dynamics

Sales of automotive ignition coil are directly proportional to automotive production and vehicle parc. Although economic conditions have been unstable in the recent past, the global automotive industry has witnessed significant growth. As a matter of fact, automotive production is expected to be significant in emerging economies as compared to developed countries. This is owing to growing urbanization rising per capita income and changing living standards. Therefore, these factors are expected to drive growth of the global automotive ignition coil market during the forecast period. Currently, automotive market players are required to develop vehicles that possess robust fuel efficiency and comply with stringent emission norms. Since there is a global trend of sustainability to support low fuel consumption, the demand for higher ignition voltage, restricted space in the engine compartment, other design-related demand for modern ignition coils is constantly increasing. Furthermore, the mixture of fuel and air must be ignited at the right time with the optimum ignition energy, in order to commence complete consumption of the fuel.  Hence, these factors are expected to propel the market growth in the near future.

Market Taxonomy

This report segments the Global Automotive Ignition Coil Market on the basis of Product Type, Vehicle Type, Sales Channel and Region. On the basis of Product Type, Global Automotive Ignition Coil Market is segmented into Can-type Ignition Coil, Electronic Distributor Coil, Double Spark Coil Pencil Ignition Coil, Ignition Coil Rail and Others. On the basis of Vehicle Type, the Global Automotive Ignition Coil Market is segmented into Passenger Cars, LCV and HCV. On the basis of Sales Channel, the Global Automotive Ignition Coil Market is segmented into OEM and Aftermarket. On the basis of region, Global Automotive Ignition Coil Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Automotive Ignition Coil Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Automotive Ignition Coil Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Automotive Ignition Coil Market includes Denso Corporation, AcDelco, Federal-Mogul Corporation, Marshall Electric Corp, NGK Spark Plug Co., Ltd, Standard Motor Products, BorgWarner Ludwigsburg GmbH, Mitsubishi Electric Corporation, Valeo SA, Hitachi Automotive Systems Americas, Inc., Robert Bosch GmbH, and Delphi Automotive plc.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Automotive Ignition Coil market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Automotive Ignition Coil Market

Detailed Taxonomy:

  • Global Automotive Ignition Coil Market, By Product Type:
    • Can-type Ignition Coil
    • Electronic Distributor Coil
    • Double Spark Coil
    • Pencil Ignition Coil
    • Ignition Coil Rail
    • Others
  • Global Automotive Ignition Coil Market, By Vehicle Types:
    • Passenger Cars
    • LCV
    • HCV
  • Global Automotive Ignition Coil Market, By Sales Channel:
    • OEM
    • Aftermarket
  • Global Automotive Ignition Coil Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • AcDelco
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • BorgWarner Ludwigsburg GmbH
    • Delphi Automotive plc.
    • Denso Corporation
    • Federal-Mogul Corporation
    • Hitachi Automotive Systems Americas, Inc.
    • Marshall Electric Corp
    • Mitsubishi Electric Corporation
    • NGK Spark Plug Co., Ltd
    • Robert Bosch GmbH
    • Standard Motor Products
    • Valeo SA

Browse all the market data tables and figures on “Global Automotive Ignition Coil Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Sales Channel
      • Market Snippet, BY Vehicle Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Sales Channel Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Analyst View on Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Automotive Ignition Coil Market, BY Product Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Can-type Ignition Coil
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Electronic Distributor Coil
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Double Spark Coil
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Pencil Ignition Coil
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Ignition Coil Rail
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Automotive Ignition Coil Market, By Sales Channel, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • OEM
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Aftermarket
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Automotive Ignition Coil Market, By Vehicle Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment trends
    • Passenger Cars
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • LCV
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • HCV
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global Automotive Ignition Coil Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Sales Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Sales Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Sales Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Sales Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Sales Channel, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • AcDelco
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • BorgWarner Ludwigsburg GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Delphi Automotive plc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Denso Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Federal-Mogul Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hitachi Automotive Systems Americas, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Marshall Electric Corp
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mitsubishi Electric Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NGK Spark Plug Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Robert Bosch GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Standard Motor Products
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Valeo SA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Automotive Ignition Coils Market -forecast to 2027”.

Frequently Asked Questions

The global market for Automotive Ignition Coil is expected to reach USD 3,142.4 Million by 2022.
Rising automotive production and vehicle parc are expected to drive growth of the global automotive ignition coil market during the forecast period
Passenger Cars sub-segment holds the largest market share among Vehicle Type Segment contributing 76.0% market share in terms of value in 2019.
Asia Pacific region hold the largest share in the global Automotive Ignition Coil market in 2019, accounting for 52.7% share in terms of value.
Key players operating in the global Automotive Ignition Coil market are Denso Corporation, AcDelco, Federal-Mogul Corporation, Marshall Electric Corp, NGK Spark Plug Co., Ltd, Standard Motor Products, BorgWarner Ludwigsburg GmbH, Mitsubishi Electric Corporation, Valeo SA, Hitachi Automotive Systems Americas, Inc., Robert Bosch GmbH, and Delphi Automotive plc.
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