AUTOMOTIVE IGNITION COIL MARKET ANALYSIS

The Global Automotive Ignition Coil Market size was valued at US$ 10.32 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. Ignition coil is one of the components of a car's ignition system. It is in charge of generating an electric spark that ignites the mixture of petrol and air in a compression chamber, aiding in the movement of the vehicle. Some typical product kinds are distributor-based, distributor-less, and coil-on plugs. Automotive ignition coils are made of high-quality metal materials that are simple to install, sturdy, long-lasting, and corrosion- and wear-resistant. They have a laminated iron core encircled by two coils of copper wire. They are frequently employed in passenger cars, motorbikes, and light and heavy commercial vehicles (L/HCVs) as they increase engine economy, emissions, and performance.

The global Automotive Ignition Coil Market is expected to witness significant growth during the forecast period (2023–2030). The market is driving by the increasing demand for passenger cars and increase need for repair and replacement.

Global Automotive Ignition Coil Market: Regional Insights

During the forecast period, Asia Pacific is expected to have the fastest growth rate. It is expected to lead with the highest CAGR. Countries with vast populations, like China and India, which make up more than one third of the world's population, are one element contributing to the rise of this region. Additionally, it is predicted that rising urbanization and smart cities will hasten the growth of the vehicle ignition coil industry.

Europe took the second-highest spot, due to the presence of numerous automobile manufacturers on the global market, with Germany leading the way. Additionally, the market growth in this region will be boosted by increased vehicle production and the use of cutting-edge technologies in IC engines.

North America is anticipated to hold the third-highest position, due to increased vehicle sales and rising customer desire for a comfortable driving environment and a pollution-free commute, in the worldwide market. The development of technology by infrastructural and technological behemoths can also be credited with the market expansion.

The Middle East, Latin America, and Africa are included in the rest of the world. The market for car ignition is likely to experience significant Middle Eastern market influence. This is a result of the UAE government's adoption of cutting-edge technologies and open trade policies. The untapped market potential of Africa is also to be included to that list. All these factors will contribute to the growth of the market in these regions, although at a slow pace.

Figure 1: Global Automotive Ignition Coil Market Share (%), By Region, 2022

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Global Automotive Ignition Coil Market Drivers:

Rising income levels of consumers in emerging nations and changing lifestyles are driving up demand for automobiles and ignition coils

Globally rising auto sales have increased vehicle production, which is positively impacting the automotive ignition coil market. The rise in living standards and improved economic conditions brought about by expanding urbanization and rising per capita income have created favorable conditions for the automotive ignition coil market's expansion. The sales of passenger cars and commercial vehicles are anticipated to rise as a result, which will boost demand for automotive ignition coils throughout the forecast period.

Increased repair and maintenance of ignition coils, due to longevity of car life span resulting in market growth

The increased requirement of maintenance and repair has accelerating the growth of the automotive ignition market as it offers better and efficient production of cars have increased their quality. This has led to the useful lifespan of the automobiles increasing. This gives rise maintain and replacement of automotive parts including the automotive ignition coils in order to maintain the functionality of the automobile.

Global Automotive Ignition Coil Market Opportunities:

 Increasing usage of luxury automobiles, lightweight construction, and cutting-edge technology to support growth

Automotive manufacturers have begun incorporating improvements into the new and forthcoming car models in response to consumer needs. Consumers are more likely to use luxury comfort amenities in cars in developing nations. Globally, the growth rate of luxury vehicles has notably increased in recent years. Automotive component producers are continually inventing or employing lightweight materials for their cars in order to decrease the overall weight of vehicles.

Global Automotive Ignition Coil Market Trends:

Pencil ignition coil sales are on the rise because of their compatibility and small size.

A pencil ignition coil is directly connected to the spark plug and uses full electronic ignition. This causes a high voltage pulse to be produced just at the spark plug. One benefit of the pencil ignition coil is that there is no cable loss. It works with practically all engines because of its compact design.

Utilization of 3D printing technology to improve ignition coil quality and cut costs

New technologies are being developed as a result of the growing demand for efficient engines and the requirement to minimize engine size and emissions. The usage of ignition coils in vehicular combustion engines may result in significant engine failure for a variety of reasons, including excessive heat, vibrations, and inadequate insulation that causes a short circuit. The utilization of 3D printing technology to offer technically and financially optimal solutions helps resolve this problem.

Global Automotive Ignition Coil Market Restraints:

Electrification of vehicles and adoption of EV

(EVs) are currently more popular among consumers than internal combustion engine (ICE) vehicles, due to less frequent maintenance, quicker acceleration, and lower energy prices, electric cars, which may slow the market's growth during the forecast period. Additionally, a number of governments and international organizations are now granting benefits to customers and establishing regulations relating to fuel-efficient cars, which have curbed emerging trends in the automotive ignition coil market.

Government Restraints on carbon emissions and production of greenhouse gases driving down demand for fuel based automotives

Governments are pushing consumers to use ecofriendly modes of transport, due to the increased focus of governments across the world to curb carbon emission and slow down global warming, this is leading to apprehensions about using petrol/diesel vehicles, which is hampering the growth of the automotive ignition coil market.

Figure 2: Global Automotive Ignition Coil Market Share (%), By Vehicle type, 2022

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Global Automotive Ignition Coil Market Segmentation:

The Global Automotive Ignition Coil Market Report Is Segmented Into Product Type, Vehicle Type, and Sales Channel and by Region

The product type is further segmented into Can-type ignition coil, Electronic distributor coil, Double spark coil, pencil ignition coil, ignition coil rail, others. One of the earliest varieties of ignition coil, the can-type ignition coil is a distributor ignition coil. It can produce 25 to 30 kV and will use a mechanical distributor to supply many spark plugs. Classic can-type coils, which are filled with asphalt or oil and frequently run out, are a common feature of vintage and older cars.

In the electronic distributor coil the electronic ignition system is used to ignite the mixture of air and fuel in internal combustion engines. In essence, this produces heat in the form of a spark to ignite. This system operates within the engine to ignite the spark plug.

In a double spark coil, Primary and secondary sparks are produced by double spark ignition coils twice every crankshaft rotation. There is no need to synchronize with the camshaft. But only engines with an even number of cylinders should use double spark ignition coils. Thus, two and three double spark ignition coils are used in automobiles with four and six cylinders, respectively.

The risk of disruptive discharge or interference due to high voltages which are a result of high pressures and fast movements in the combustion zone, hence pencil type ignition coils are fitted directly onto the spark plug, reducing the possibility of a power outage or voltage flashover is where it also produces the high-voltage pulse. Furthermore, this style of construction takes up relatively little room in the engine bay.

Depending on the number of cylinders, several ignition coils are arranged in a common housing (rail) in an ignition coil rail (ignition module). These coils, however, act separately and behave as single spark ignition coils. A benefit of the design is that fewer connecting wires are needed. It only needs one tiny plug connection. Additionally, the ignition coil rail's modular design contributes to the engine compartment's overall appearance of being more "elegant," well organized, and clutter-free.

Under vehicle type, ignition coils are divided into Passenger cars, LCV and HCV. Passenger car ignition coil is forecasted to dominate this segment due to the increasing demand for passenger vehicles.

Under sales channel ignition coils are further segmented into OEM and Aftermarket. After an automobile has been sold to a consumer by the original equipment manufacturer (OEM), all vehicle parts, chemicals, equipment, and accessories are manufactured, remanufactured, distributed, retailed, and installed in the automotive aftermarket, which is the secondary parts market for the automotive industry. The OEM may or may not manufacture the components, accessories, etc. that are for sale.

Global Automotive Ignition Coil Market: Key Developments

• On 15^th February 2021, Diamond electric , has announced on its website, that it will be starting mass production of Multi-Spark ignition coils which will help contribute to lower CO2 emissions by increasing stable consumption range of engines.
• In December 2022, Raillynews reported that the Turkey has largest ignition coil factory, owned by Eldor, an Italian auto parts manufacturer. They have a market share of 26 percent in the world and 62 percent in Europe.

Global Automotive Ignition Coil Market: Key Companies Insights

The market players operating in the market are focusing on product launch and merger, acquisition strategies to expand the global presence

Some of the key players in the global Automotive Ignition Coil Market are BorgWarner Inc., DENSO Corporation, Diamond Electric MFG, Eldor Corporation S.p.A., HELLA GmbH & Co. KGaA (Faurecia SE), Hitachi Ltd., Mitsubishi Electric Corporation, NGK Spark Plug Co. Ltd., Robert Bosch GmbH Standard Motor Products Inc., Aptiv PLC and Valeo.

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

The growth of the global automotive ignition market was hampered during the Covid 19 pandemic. As lockdowns were imposed in various parts of the world, supply chains were disrupted leading to halts in the manufacturing processes. This coupled with the decreasing demand as people lost their livelihood also impacted the market negatively driving down the demand for ignition coils.

*Definition: An ignition coil is used in the ignition system whereby the battery voltage of a spark-ignition engine is converted to the much higher voltages necessary to run the spark plug(s). The high-voltage electricity is subsequently used by the spark plugs to ignite the air-fuel mixture.