New York, According to a new market research report published by Global Insight Services “Automotive Ignition Coil Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An ignition coil is an inductive coil that is part of an automobile’s ignition system. The coil steps up the low 12-volt current from the battery to the high voltage needed to create an electric spark in the spark plugs, which ignites the fuel.
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Key Trends
Automotive ignition coils are a vital component of any vehicle’s ignition system, and their technology has come a long way in recent years. Today’s ignition coils are more reliable and durable than ever before, and they’re also more efficient, meaning they can provide a more powerful spark to the spark plugs.
One of the biggest trends in automotive ignition coil technology is the move towards more compact and lightweight designs. This is being driven by the need to save space and weight in modern vehicles, which is increasingly important as fuel economy and emissions regulations become more stringent.
Another key trend is the development of ignition coils that can handle higher voltages. This is necessary to meet the demands of today’s high-performance engines, which require a stronger spark to ignite the air/fuel mixture.
Finally, ignition coil manufacturers are continuously looking for ways to improve the durability and reliability of their products. This is important not only for the safety of drivers and passengers, but also to reduce the likelihood of expensive repairs or replacements.
Key Drivers
The automotive ignition coil market is primarily driven by the growing demand for passenger cars and light commercial vehicles. The rising disposable incomes of consumers in emerging economies and the growing preference for private vehicles are the key factors driving the growth of the automotive ignition coil market. The increasing demand for fuel-efficient and environment-friendly vehicles is also fuelling the growth of the market. The stringent emission norms set by various governments across the globe are also propelling the market growth. The technological advancements in ignition coil designs and the growing demand for aftermarket products are some of the other factors driving the automotive ignition coil market.
Market Segments
The Automotive Ignition Coil Market is segmented on the basis of type, vehicle type, distribution channel, and region. By type, it is classified into coil-on plugs, distributor-based ignition coils, distributor-less, and others. According to vehicle type, it is categorized into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. By distribution channel, it is bifurcated into OEM and aftermarket. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Automotive Ignition Coil Market report includes players such as BorgWarner, Denso, Diamond Electric Mfg. Corp, Federal-Mogul, HELLA GmbH & Co, Hitachi automotive, Mitsubishi Electric Corporation, NGK Spark Plug, Robert Bosch, and Valeo SA
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Reasons to buy Automotive Ignition Coil Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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