Automotive Ignition Coil Aftermarket Research Report - Global Forecast to 2030

Automotive Ignition Coil Aftermarket Research Report: Information by Product (Pencil Ignition Coil, Electronic Distributor Coil, Double Spark Coil, Can-Type Ignition Coil, Ignition Coil Rail), by Vehicle Type (PC, LCV, HCV) and Region - Forecast till 2030

ID: MRFR/AM/6243-CR | April 2019 | Region: Global | 177 Pages         

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Automotive Ignition Coil Aftermarket

Automotive ignition coil aftermarket is expected to grow at a 5% CAGR during the forecast period 2022-2030.

Segmentation
By Product Pencil Ignition Coil Ignition Coil Rail Electronic Distributor Coil Can-type Ignition Coil Double Spark Coil Others
By Vehicle Type Passenger Car Light Commercial Vehicle Heavy Commercial Vehicle
Key Players
Companies Profiled   NGK SPARK PLUG CO. LTD (Japan)    Wells Vehicle Electronics (US)    Denso Corporation (Japan)    Delphi Technologies (UK)    Robert Bosch GmbH (Germany)    BorgWarner Inc. (US)    Hitachi Automotive Systems    Ltd (Japan)    Standard Motor Products Inc. (US)    Valeo (France)    ACDelco (US)    Beru (Germany)    Spectra Premium (Canada).
Drivers
Market Driving Forces    New product launches   R&D Amongst major key Players    Increase in adoption of second-hand passenger cars    Increasing investment form international players in the automotive aftermarket.
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Automotive Ignition Coil Aftermarket Overview


Globally, the automotive ignition coil aftermarket projects at a CAGR value of about 5% during the automotive ignition coil aftermarket forecast period of 2022-2030. The market was valued at occupying a USD of about 9.5billion during the forecast period. The market has experienced an influential rate during the significant period. Moreover, the Asia Pacific region is the most dominant region during the forecast period because of its large setup of the automobile manufacturing industry in some the countries like China, India, and the Malaysian region. The rise in demand for the use of efficient engines and high growth in popularity of the usage of the reduced engine size are some of the factors that help in the improvement of using specific products which owe to the development of adopting new technology in the region of Asia Pacific and some of the European regions thus helping in expansion of automotive ignition coil aftermarket size. Asia Pacific region in the year 2017, held a major part of automotive ignition coil after market share in the global market. The presence of some of the manufacturers in the automotive market has set up production plants and distribution networks in some regions of China, Japan, and the Indian region. This helps in rising the automotive ignition coil aftermarket demand during the review period.


COVID 19 ANALYSIS


The outburst of COVID caused the shutting down of certain vehicles and manufacturing units. COVID imposed a lockdown in the majority of countries. The demand for automobiles was aroused after the removal of the lockdown. The COVID impact was prompted in certain countries where the manufacturing units faced disturbance in production. Interruption in the value chain and supply chain was marked. On further navigation, the OMEs are positive concerning the post-pandemic crisis where they help the revenue to revive and promote the company's automotive ignition coil aftermarket. Gradually, the majority of the countries are opening their international borders where the freight and logistics activities have been increased. Due to COVID, the recent economic conditions of the market are completely unstable. Globally the market has brought satisfactory growth.


MARKET DYNAMICS


Drivers- high growth in eCommerce activities and high rise in adoption of commercial vehicles rose. The increase in the sale of automobiles globally has risen the production of vehicles which has a positive effect on the automotive ignition coil aftermarket growth. Growth in urbanization along with an increase in per capita revenue has helped in increasing the living standards and has helped raise the economic condition which has posed up economic growth condition of the automotive ignition coil aftermarket. The rise in average longevity of vehicles has increased the maintenance and repair activities. The rise in the traveling period of the vehicle increases the replacement activities which steers up the market demand.


Opportunities- attaining sustainable transportation opportunities rise the market's demand. The electrical vehicle industry is becoming an integral part of the market where the energy efficiency capability is being increased along with a reduction in the emission of certain vehicular pollutants and other greenhouse gases. The increase in several environmental concerns along with certain government initiatives so taken has helped in driving up the market growth. The rise in the price of energy and competition with the key vendors has helped in rising the automotive ignition coil aftermarket demand. The rise in electric vehicles is driven by policy government schemes. The combination of new and attractive models has upsurged the demand in the market. Some of the green recovery funds by the government improved the availability and promoted the use of automotive ignition coils. The sale of luxurious vehicles in developing regions has helped in raising the growth and demand of the market. Along with the luxury segment the nonluxury segment has helped in promoting up the demand in the fast-growing market.


Challenges- setting up the firm's new plant is the major challenging factor so faced by the government. The joint venture so adopted by them is the key factor helping in rising the growth. The rise in production network among the companies is the key factor becoming the challenging factor for the expansion of market size.


Restraints- slow growth of vehicle demand has restrained the automotive ignition coil aftermarket growth. Some of the points affecting the vehicle sale and production in a certain regions of the United States and China owing to the decrease in growth rate in the upcoming years.


MARKET SEGMENTATION


By type- based on the global market, the market the aftermath market is being divided into product and vehicle. Based on product, the global market is being classified into ignition coil rail, double spark coil, pencil ignition coil, electronic distributor coil, can type ignition coil, and many more. Moreover, the pencil ignition coil segment covers the major automotive ignition coil aftermarket share thereby owing to the rise in adoption of pencil coils by some of the premium automobile manufacturers. This creates more opportunities for the automotive ignition coil aftermarket key players whereby they engage themselves in manufacturing and retailing the automotive parts and components. As per the vehicle type, globally and regionally the aftermath is being segmented into passenger cars, heavy commercial vehicles, and light commercial vehicles. The segment holding passenger car owes to rising high growth in demand.


By technology- growth in technology led to the coverage of high voltage consumption in all operating conditions. It rises the ease of installation and reliability. Technology helped in the suppression of noise due to high temperatures and reduced phantom misfires. These coils bring up the smoothness and efficiency of the engines. Technology led to the usage of the power transistors in every ignition coil which provided smooth and efficient pulses. The modernized passenger vehicle used one ignition coil reducing the faultiness in the coils. These coils are not required in diesel engines where compression takes place where ignition of the fuel-air takes palace.REGIONAL ANALYSIS


Regionally, the market has been expanded into the region of Asia Pacific, some of the North American regions, the European region, and some regions in the rest of the world. From the Market Research Future Rate analysis, it has been found that the automotive ignition market in the Asia Pacific region is driven due to the presence of a growing automobile manufacturing industry, especially in the region of China, Malaysia, and India. As per the automotive ignition coil aftermarket trends, the automotive ignition coil aftermarket growth has helped in the adoption of passenger cars of second hand. Besides all this, the region of China is a large contributor in terms of revenue, value, and volume. The continuous rise in automotive ignition coil aftermarket where demand for commercial vehicles is high along with the high rise in the sale of passenger vehicles has helped the government to introduce any policies from which it has been benefitted for setting up automobile OEMs. the government policies include certain rules comprising import restraints, subsidies, and certain export requirements. Originally, the equipment suppliers in the countryside division have allowed selling up the products directly to non-authorized sellers along with consumers where the competition levels are higher and have allowed easy access to the component manufacturers.


COMPETITIVE LANDSCAPE


Some of the key vendors playing in the industry include NGK SPARK PLUG CO. Ltd of Japan, Spectra Premium of the Canadian region, Wells Vehicle Electronics of the United State, Denso Corporation of Japan, Beru of Germany, Delphi Technologies of the United Kingdom, ACDelco, Robert Bosch Gmbh of Germany, Valeo of France, BorgWarner Inc. of the United States, Standard Motor Products Inc. of the United States, Hitachi Automotive Systems ltd. of Japan and many more.


RECENT DEVELOPMENTS


Daimler in its partnership with the Chinese Government has promoted the use of mobility in the regions of China. Future mobility has been stronger by adopting the electric mobility strategy. Their joint venture has helped in bringing up the company to a wide level, especially in the Chinese region.


The Diamond Electric Mfg Co. ltd manufactured certain ignition coils from its plant which was so set up in the region of the USA. the production capabilities of the ignition coils will be increased by 20 percent. This plant covers an area of about 12,263 square meters.


DENSO in January 2021, has launched certain ignition coils and automobiles have expanded its empire by manufacturing top-grade materials.


Hitachi Astemo in September 2021, has invested a USD of about 56 million during two years of a period which improved industrial safety thus helping in the creation of certain ignition coils.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   5% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Vehicle Type, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   NGK SPARK PLUG CO., LTD (Japan), Wells Vehicle Electronics (US), Denso Corporation (Japan), Delphi Technologies (UK), Robert Bosch GmbH (Germany), BorgWarner Inc. (US), Hitachi Automotive Systems, Ltd (Japan), Standard Motor Products, Inc. (US), Valeo (France), ACDelco (US), Beru (Germany), and Spectra Premium (Canada).
  Key Market Opportunities    New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Increase in adoption of second-hand passenger cars
  • Increasing investment form international players in the automotive aftermarket.


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    Frequently Asked Questions (FAQ) :

    The automotive ignition coil aftermarket market can thrive at 5% CAGR by 2030.

    Hitachi Automotive Systems, Ltd (Japan), Valeo (France), Standard Motor Products, Inc. (US), ACDelco (US), Spectra Premium (Canada), and Beru (Germany) are some reputed names in the automotive ignition coil aftermarket market.

    By 2030, the automotive ignition coil aftermarket can value at considerably high amount.

    Pencil ignition coil, electronic distributor coil, ignition coil rail, double spark coil, and can-type ignition coil are some automotive ignition coil aftermarket products.

    The increase in the incorporation of automotive ignition coil in heavy commercial vehicle is expected to spur the market in APAC.