Press release
Automotive Ignition System Market Size, Share, Growth, Opportunity and Forecast 2022-2027
The global automotive ignition system market size reached US$ 7.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.3 Billion by 2027, exhibiting a growth rate (CAGR) of 7.87% during 2022-2027.
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Industry Overview and Application:
The automotive ignition system represents an ignition circuit that generates heat or sparks in automobiles. The three standard ignition methods utilized in these systems include simultaneous ignition, compression ignition, and coil-on-plug (COP). Automotive ignition system consists of a switch, coil, distributor, high tension cable, and spark plug. These components supply increased voltage current to the spark pins in the engine cylinders, which produce electric sparks. The heat generated further ignites the compressed air-fuel mixture in the combustion chamber, thereby powering the vehicle. As a result, automotive ignition systems find widespread applications in petrol engine vehicles, such as motorcycles, passenger cars, and light and heavy commercial vehicles (L/HCVs).
Market Trends and Drivers:
The expanding automobile industry across countries is primarily driving the automotive ignition system market. Besides this, the escalating demand for these machines that offer improved operational efficiency and fuel economy, owing to the rising environmental consciousness among the masses, is further augmenting the market growth. Moreover, the development of electronic ignition systems integrated with sensors, switches, and transistors is also catalyzing the global market. Apart from this, the introduction of technologically advanced variants that provide improved horsepower levels and a more accurate and reliable current flow is acting as another significant growth-inducing factor. Furthermore, the launch of several policies by the government bodies to manage the levels of carbon emissions into the environment and the increasing expenditure capacities of consumers are anticipated to propel the automotive ignition system market over the forecasted period.
Automotive Ignition System Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global automotive ignition system market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• BorgWarner Inc.
• Continental AG (Schaeffler Group)
• Denso Corporation
• Diamond Electric Mfg. Co. Ltd.
• Federal-Mogul Corporation (Tenneco Inc.)
• Hitachi Ltd.
• Mitsubishi Electric Corporation
• NGK Spark Plug Co. Ltd.
• Robert Bosch Gmbh
• Valeo
Key Market Segmentation:
The report has segmented the global automotive ignition system market based on engine type, ignition type, component, vehicle type, sales channel and region.
Breakup by Engine Type:
• Gasoline
• Diesel
Breakup by Ignition Type:
• Coil on Plug Ignition
• Simultaneous Ignition
• Compression Ignition
Breakup by Component:
• Ignition Switch
• Spark Plug
• Glow Plug
• Ignition Coil
• Others
Breakup by Vehicle Type:
• Passenger Cars
• Commercial Vehicle
• Others
Breakup by Sales Channel:
• OEM
• Aftermarket
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2617&flag=C
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group
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Sheridan, WY 82801, USA
Email: sales@imarcgroup.com
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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