Ignition Coil Market Size was valued at USD 2.8 billion in 2022. The Ignition Coil Market industry, is projected to grow from USD 2.90 Billion in 2023 to USD 3.91 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.80% during the forecast period (2023 - 2032). An increase use of internal combustion engine and high demand for automobiles are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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 market CAGR growth of the global automotive ignition coil market during the forecast period.
Additionally, the increasing sales and production of gasoline-powered vehicles due to the rising preference for personal mobility and escalating demand for luxury vehicles is favoring the market growth. Additionally, the increasing utilization of three-dimensional (3D) printing technology to reduce costs and enhance product quality is acting as another growth-inducing factor. Apart from this, the introduction of a pencil ignition coil that offers electrical, mechanical, and thermal isolation between the magnetic core and improves the magnetic field in the automotive engine is providing an impetus to the market growth. Moreover, the growing demand for compact and miniaturized ignition coils due to engine downsizing is propelling the market growth. Other factors, including the rising expenditure capacities of consumers, the implementation of favorable government policies promoting energy-efficient systems, rising automobile production, and extensive research and development (R&D) activities, are antiquated to drive the Ignition Coil Market revenue.
The Ignition Coil Market segmentation, based on type, includes Compression Ignition, Spark Ignition, Battery, Others. Spark Ignition this is due to the increasing demand for gasoline-powered vehicles and the rising awareness among consumers regarding emission control are some of the factors driving the growth of the Spark Ignition segment.
The Ignition Coil Market segmentation, based on component, includes Spark Plug, Ignition Coil, Capacitor, Others. Ignition Coil segment dominant the market size. Because of technological advancements and increasing government regulations pertaining to emission norms are also contributing towards the adoption of efficient technologies across various applications. Automotive ignition coils are coil packs that deliver the high voltage required to create an electric spark in a combustion engine.
The Ignition Coil Market segmentation, based on vehicle type, includes LCV, HCV, Passenger Cars. 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 2021 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 2021 DENSO introduced its newest ignition coils to the market. DENSO Products and Services Americas expanded its line of market 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.
Figure1: Ignition Coil Market, by Vehicle Type, 2022 & 2032(USD billion)
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 Asia-Pacific Ignition Coil Market area will dominate this market; this is due increase in the adoption of second-hand passenger cars and increasing investment from international players and in the automotive market. Moreover, China’s Ignition Coil Market held the largest market share, and the Indian Automotive Ignition Market was the fastest-growing market in the Asia-Pacific 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.
Figure2: IGNITION COIL MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Ignition Coil Market accounts for the second-largest market share due to investing in national fleet vehicles' research, development, and electrification. Further, the German Ignition Coil Market held the largest market share, and the UK Automotive Ignition Market was the fastest-growing market in the European Region.
The North America is expected to grow at the fastest CAGR from 2023 to 2032. This is due increase in the new product launches and R&D Among major players will boost the market growth in this Region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Ignition Coil 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 Ignition Coil Market 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 Ignition Coil Market industry to benefit clients and increase the market sector. In recent years, the Ignition Coil Market industry has offered some of the most significant advantages to the automobile industry. Major players in the Ignition Coil Market, including Robert Bosch GmbH (Germany),BorgWarner Ludwigsburg GmbH (Germany),Delphi Automotive PLC (UK) ,Denso Corporation (Japan), Federal-Mogul Corporation (US), Mitsubishi Electric Corporation (Japan) ,Hitachi Automotive Systems Americas, Inc. (U.S.),Wings Automobile Products Pvt. Ltd (India)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 market 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 2021 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 2021 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 2021 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.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.8 Billion |
| Market Size 2023 | USD 2.90 Billion |
| Market Size 2032 | USD 3.91 Billion |
| Compound Annual Growth Rate (CAGR) | 3.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Component, 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 Robert Bosch GmbH (Germany),BorgWarner Ludwigsburg GmbH (Germany),Delphi Automotive PLC (UK) ,Denso Corporation (Japan), Federal-Mogul Corporation (US), Mitsubishi Electric Corporation (Japan) ,Hitachi Automotive Systems Americas, Inc. (U.S.),Wings Automobile Products Pvt. Ltd (India) |
| Key Market Opportunities | ·      Induction coil in the automobiles ignition system ·      An internal combustion engine |
| Key Market Dynamics | ·      High demand for automobiles |
Ignition Coil Market Highlights:
Frequently Asked Questions (FAQ) :
The Ignition Coil Market size was valued at USD 2.8 Billion in 2022.
The global market is projected to grow at a CAGR of 3.80% during the forecast period, 2023-2032.
Asia Pacific had the largest share of the global market
The key players in the market are Robert Bosch GmbH (Germany),BorgWarner Ludwigsburg GmbH (Germany),Delphi Automotive PLC (UK) ,Denso Corporation (Japan), Federal-Mogul Corporation (US), Mitsubishi Electric Corporation (Japan) ,Hitachi Automotive Systems Americas, Inc. (U.S.),Wings Automobile Products Pvt. Ltd (India).
The Spark Ignition Coil Automotive Ignition Market category dominated the market in 2022.
The Passenger Car had the largest share of the global market.
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