Automotive Ignition Coil Aftermarket market Size was valued at USD 7.15 billion in 2022. The Automotive Ignition Coil Aftermarket market is projected to grow from USD 7.5075 Billion in 2023 to USD 11.0919 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2024 - 2032). An increase in the adoption of second-hand passenger cars and Increasing investment from international players are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Drivers- high growth in eCommerce activities and a high rise in the adoption of commercial vehicles rose. The Increase in the sale of automobiles globally has raised the production of vehicles which has a positive effect on the automotive ignition coil aftermarket market 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 the economic growth condition of the automotive ignition coil aftermarket. The rise in the average longevity of vehicles has increased maintenance and repair activities. The rise in the traveling period of the vehicle increases the replacement activities, which steers up the market CAGR demand.
Additionally, the electric vehicle industry is becoming an integral part of the market where the energy efficiency capability is increasing along with reducing the emission of certain vehicular pollutants and other greenhouse gases. The Increase in several environmental concerns and certain government initiatives has helped drive up the Automotive Ignition Coil Aftermarket market revenue. The rise in energy prices and competition with the key vendors has helped raise the automotive ignition coil aftermarket market demand. Policy government schemes drive the rise in electric vehicles. 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. Selling luxurious vehicles in developing regions has helped raise the market's growth and demand. Along with the luxury segment, the nonluxury segment has helped promote the demand in the fast-growing market.
The Automotive Ignition Coil Aftermarket Market segmentation, based on Product, includes Pencil Ignition Coil, Ignition Coil Rail, Electronic Distributor Coil, Can-type Ignition Coil, Double Spark Coil, and Others. The pencil ignition coil segment covers the major automotive ignition coil aftermarket market share, owing to the rise in the 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 manufacture and retail the automotive parts and components.
The Automotive Ignition Coil Aftermarket market segmentation, based on vehicle type, includes passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment currently holds the biggest global market share, which is expected to continue. The advantage can be attributed to several factors, including the growing urban population and the requirement for commuting. The demand is expanding as people become more concerned about rising pollution levels and their low running costs.
The commercial vehicle sector is expanding in terms of product offerings and sales. On the other hand, commercial EVs are now a part of the transportation business in China and the United States. During the projected period, they are anticipated to replace conventional trucks. Several medium and heavy commercial vehicle manufacturers are working on electrification and producing automotive batteries with increased power capacity. Hence, the commercial vehicle segment will decline significantly within the projected period.
March 2021Â Diamond Electric Mfg. Co. Ltd announced it would build a new West Virginia, USA plant to manufacture automobile ignition coils. The production capacity of ignition coils in the United States will be increased by 20%. The new US plant has a building area of 12,263 square meters. In addition to Ford's existing North American production bases, the main supply destinations are Japanese automobile manufacturers' North American production bases.
January 2021Â DENSO introduced its newest ignition coils to the market. DENSO Products and Services Americas expanded its line of aftermarket ignition coils. DENSO now offers four new coil-on-plug (COP) part numbers built with top-grade materials. The coils offer maximum available voltage under all operating conditions, ease of installation, and reliability that ensures high temperature suppresses noise and eliminates phantom misfires.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American automotive ignition coil aftermarket area will dominate this market; new product launches and R&D Among major players will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Automotive Ignition Coil Aftermarket accounts for the second-largest market share due to investing in national fleet vehicles' research, development, and electrification. Further, the German Automotive Ignition Coil Aftermarket held the largest market share, and the UK Automotive Ignition Aftermarket was the fastest-growing market in the European Region.
The Asia-Pacific Automotive Ignition Coil Aftermarket market is expected to grow at the fastest CAGR from 2024 to 2032. This is dueIncrease in the adoption of second-hand passenger cars and increasing investment from international players and in the automotive aftermarket. Moreover, China’s Automotive Ignition Coil Aftermarket held the largest market share, and the Indian Automotive Ignition Aftermarket was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the automotive ignition coil aftermarket market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Automotive Ignition Coil Aftermarket industry, must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Automotive Ignition Coil Aftermarket industry to benefit clients and increase the market sector. In recent years, the Automotive Ignition Coil Aftermarketindustry has offered some of the most significant advantages to the automobile industry. Major players in the Automotive Ignition Coil Aftermarket, including 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) and others, are attempting to increase market demand by investing in research and development operations.
Diamond Electric Mfg. Corporation is recognized as a world leader in safe, reliable, and cost-competitive automotive electrical components. Our Company is energized by a driving force of progressive R&D programs, ceaseless efforts to achieve the quality demanded by our customers, and the commitment of our employees to improve our communities. Our proprietary technology has resulted in exciting product developments in new areas of automotive electronics. Our Company motto of "Health, Trust, and Progress"​ allows us to nurture our existing relationships, establish new partnerships, and positively impact the world.Diamond Electric Mfg. Co. Ltd announced that it would build a new West Virginia, USA plant to manufacture automobile ignition coils. The production capacity of ignition coils in the United States will be increased by 20%. The new US plant has a building area of 12,263 square meters. In addition to Ford's existing North American production bases, the main supply destinations are Japanese automobile manufacturers' North American production bases.
DENSO Corporation is a global automotive components manufacturer headquartered in Kariya, Aichi Prefecture, Japan. After becoming independent from Toyota Motor, the Company was founded as Nippon Denso Co. Ltd. in 1949. About 25% of the Company is owned by Toyota.DENSO introduced its newest ignition coils to the market. DENSO Products and Services Americas expanded its line of aftermarket ignition coils. DENSO now offers four new coil-on-plugs (COP) part numbers built with top-grade materials. The coils offer maximum available voltage under all operating conditions, ease of installation, and reliability that ensures high temperature suppresses noise and eliminates phantom misfires.
October 2021Â Diamond Electric Holdings Co. Ltd (Diamond Electric HD) announced that it would dissolve and liquidate its Thai subsidiary Diamond Electric (Thailand) Co. Ltd. This is because the production of automotive ignition coils at Diamond Electric (Thailand) has been consolidated into Diamond Electric Asia Pacific Co. Ltd, which handles the same products in the eastern part of Thailand.
September 2021Â 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.
April 2021Â Diamond Electric Mfg. Corp. USA (a member of the Diamond Electric Holdings Group) announced an investment of USD 15.5 million to develop next-generation ignition coils specifically for Ford Motor Company.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size2022 | USD 7.15billion |
| Market Size 2023 | USD 7.5075billion |
| Market Size2032 | USD 11.0919billion |
| Compound Annual Growth Rate (CAGR) | 5.00% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Vehicle Type, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â 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) |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Dynamics | Increase in adoption of second-hand passenger cars Increasing investment from international players and in the automotive aftermarket |
Automotive Ignition Coil Aftermarket Market Highlights:
Frequently Asked Questions (FAQ) :
The Automotive Ignition Coil AfterMarket size was valued at USD 7.15 Billion in 2022.
The global market is projected to grow at a CAGR of 5.00% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are 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).
The Pencil Ignition Coil Automotive Ignition Aftermarket category dominated the market in 2022.
The Passenger Car had the largest share of the global market.
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