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Automotive Ignition System Market - An Emerging Hint of Opportunity by 2030 | Key Players - Robert Bosch GmbH, Denso Corporation, Mitsubishi Electric Corporation, NGK Spark Plug Co., Continental AG, Delphi Automotive
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COVID-19 scenario analysis:
• The COVID-19 has interrupted the business around the globe and throws the economic outlook into uncertainty
• Automotive ignition system market which is dependent on sales and demands of vehicles is anticipated to hamper due to novel coronavirus.
• The global supply chain is disrupted as the region with major automotive manufacturing hubs have been affected by the pandemic.
• As the pandemic imposes a tough challenge to automotive ignition system, the electric vehicle market is complementing the pandemic to restrain the market growth. Besides, the sales of electric vehicle are anticipated to rise post pandemic due to environmental concerns amongst the consumers.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Growth in urbanization, rise in per capita income, and increased purchasing power in developing countries are contributing to the growth of the automotive ignition system market. Additionally, the engine efficiency is increased and emission is reduced due to ignition system as it controls the spark timing. Moreover, due to requirement of higher ignition voltage, the demand for automotive ignition system is proliferating. Besides, stringent regulations will propel the market growth. However, the rise of EV market will hamper the market growth. Furthermore, technological advancements like improved electronic ignition has raised the life of spark plug which further increases the demand for automotive ignition system.
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The automotive ignition system market trends are as follows:
Rise in EV market
The automotive industry is experiencing a shift from conventional engines to electric vehicles to reduce global carbon footprints. With advancements in EV, the driving range, efficiency, and power of vehicle have increased significantly. However, the growing market of EV will hamper the growth of ignition system. EV works on totally different principle and it eliminates the use of ignition system.
Technological advancements to upsurge the market growth
As long as the internal combustion engine has existed, engineers are constantly focusing on better ways of igniting the highly combustible mixture of air and gasoline. This has led to developments of various ignition system. Electronic Ignition System is one of the ignition systems which is controlled electronically and directed by an electric current to each spark plug when it needs to fire. Electronic Ignition System is efficient in improving reliability and mileage and decreasing emissions. Furthermore, Advanced Corona Ignition System (ACIS) developed by Federal-Mogul eliminates the use of spark plug and utilizes high-energy plasma for ignition.
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Key benefits of the report:
• This study presents the analytical depiction of the automotive ignition system industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed automotive ignition system market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the automotive ignition system market research report:
• What are the leading market players active in the Automotive Ignition System market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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