The automotive ignition coil market share is expected to increase by USD 322.06 million from 2021 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2%.
This automotive ignition coil market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by type (passenger car and commercial vehicle) and geography (APAC, North America, Europe, South America, and MEA). The automotive ignition coil market report also offers information on several market vendors, including BorgWarner Inc., DENSO Corp., Diamond Electric Holdings Co. Ltd., HELLA GmbH & Co. KGaA, Hitachi Ltd., Mitsubishi Electric Corp., Robert Bosch GmbH, Standard Motor Products Inc., Tenneco Inc., and Valeo SA, among others.
What will the Automotive Ignition Coil Market Size be During the Forecast Period?
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Automotive Ignition Coil Market: Key Drivers and Challenges
Based on our research output, there has been a negative impact on the market growth during and post the COVID-19 era. The growing demand for internal combustion engines in emerging countries is notably driving the automotive ignition coil market growth, although factors such as increasing labor costs in Asia leading to low profit margins for OEMs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive ignition coil market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Ignition Coil Market Driver
Emerging countries in APAC and Latin America are witnessing a steady increase in the demand and adoption of internal combustion engines. This demand is attributed to factors such as excellent drivability and stability of the vehicle component. Internal combustion engines are installed in hybrid powertrains to improve the fuel efficiency of vehicles. The internal combustion engine is the most reliable and fuel-efficient engine that is used in most vehicles in developing countries like India and Indonesia. There have been several advances in engines, such as hybrids and electric alternatives, but OEMs are still relying on internal combustion engines due to their improved technologies. Hence, the growing demand for internal combustion engines in emerging countries will drive market growth during the forecast period.
Key Automotive Ignition Coil Market Challenge
Many global OEMs have installed their manufacturing plants in Asian countries, like China, Taiwan, and India, due to the low labor and production costs involved compared to western nations. This has enabled OEMs to maintain their profit margins over the years. These countries are among the largest manufacturers of automotive components. However, OEMs are gradually losing this cost advantage due to the steady rise in the labor costs in these countries. This is affecting the overall production cost, and OEMs are not able to make profits. The increasing labor costs in Asia will lead to low profit margins for OEMs and may impede market growth.
This automotive ignition coil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Who are the Major Automotive Ignition Coil Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- BorgWarner Inc.
- DENSO Corp.
- Diamond Electric Holdings Co. Ltd.
- HELLA GmbH & Co. KGaA
- Hitachi Ltd.
- Mitsubishi Electric Corp.
- Robert Bosch GmbH
- Standard Motor Products Inc.
- Tenneco Inc.
- Valeo SA
This statistical study of the automotive ignition coil market encompasses successful business strategies deployed by the key vendors. The automotive ignition coil market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive ignition coil market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Automotive Ignition Coil Market?
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70% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for automotive ignition coils in APAC. Market growth in this region will be faster than the growth of the market in MEA, Europe, North America, and South America.
Vendors are heavily investing in the production and R&D of new technologies, which is contributing significantly to the growth of the automotive ignition coil market in APAC during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Type Segments in the Automotive Ignition Coil Market?
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The automotive ignition coil market share growth by the passenger car segment will be significant during the forecast period. Passenger cars account for the largest segment in terms of both volume and value in the automotive industry. Over the past decade, passenger cars have transformed from mechanically driven mobility vehicles to high-end electronic/electrically influenced types with advanced features in terms of safety, security, propulsion, and connectivity. These innovations have been introduced due to several factors such as the growing consumer expectations, higher competition that pushes OEMs to add more features, and enforcement of government regulations on additional safety, fuel efficiency, and security. Thus, innovations in passenger cars will drive the growth of the automotive ignition coil market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive ignition coil market size and actionable market insights on the post-COVID-19 impact on each segment.
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Automotive Ignition Coil Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2% |
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Market growth 2021-2025 |
USD 322.06 million |
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Market structure |
Fragmented |
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YoY growth (%) |
1.14 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 70% |
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Key consumer countries |
China, the US, India, Germany, and the UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
BorgWarner Inc., DENSO Corp., Diamond Electric Holdings Co. Ltd., HELLA GmbH & Co. KGaA, Hitachi Ltd., Mitsubishi Electric Corp., Robert Bosch GmbH, Standard Motor Products Inc., Tenneco Inc., and Valeo SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Automotive Ignition Coil Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive the automotive ignition coil market's growth during the next five years
- Precise estimation of the automotive ignition coil market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive ignition coil market industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the automotive ignition coil market's vendors
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