Press release
Automotive Ignition Parts Market Major Manufacturers, Trends, Sales, Supply, Demand, Share Analysis to 2031
Automotive Ignition Parts Market 2022
Automotive Ignition Parts Market is expected to grow between CAGR of 5% and 6% by value during 2021-2031. According to the research study, automotive ignition parts market is predicted to witness continuous growth in the forecast period of 2021-2031. The automotive ignition parts market growth is driven by energetic investments in the automotive sectors.
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Increasing Vehicles Production is anticipated to boost the Demand of the Automotive Ignition Parts
Growing automobile manufacturing around the world has led to the increase in demand for ignition parts for automobiles. The advancement in technology has enhanced research and development of power-train systems trying to reduce fuel consumption, improved robustness and improved efficiency.
The ignition system generates a strong spark which is required to ignite the lighter fuel. The use of a new and improved electronic ignition parts has increased the life of the entire ignition system as they provide smaller deposits and a much cleaner fire compared to the standard ignition parts.
Moreover, increase in urbanization, increase in per capita income, and the standard of living, are other major factors that are contributing to the growth of the automobile industry, which is gradually boosting the market. Thus, growing automotive sector will lead to an increase in the number of automotive ignition parts.
Key Companies-
Who are the Key Manufacturers and Suppliers of Automotive Ignition Parts
Some of the leading manufacturers and supplier of automotive ignition parts market includes
• Robert Bosch GmbH
• Denso Corporation
• BorgWarner Inc.
• Mitsubishi Electric Corporation
• Diamond Electric
• MFG
• NGK Spark Plugs
• Valeo S.A.
• Hitachi Ltd.
• Lenz Ignition
• Others.
Many leading manufacturers and supplier have longstanding contracts with end-users to supply automotive ignition parts. Further, manufacturers are focused on establishing their manufacturing facilities in the countries such as UK, USA, and China to cater increasing demand in the region.
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North America Automotive Ignition Parts Sales Outlook
The demand for ignition parts in North America have been increasing significantly and this trend is predictable to continue over the coming years. These attributable to strategic expansion by market player for enhancing market attendance in the region.
North America accounts for a noteworthy development of automotive ignition parts market, owed to comparatively high-value share of the automotive market.
The growing acceptance of direct injection engines by automotive OEMs and growth in vehicle production in North America shall lead to the development of the market. These factors are anticipated to generate positive impact for the market growth in this region. In the North American region U.S. is anticipated to display high growth of market owing to enhanced manufacture of automobiles.
Key Segment
By Type
• Ignition Coil
• Distributor
• Spark Plugs
By Application
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
By Sales Channel
• OEM
• Aftermarket
Key geographies evaluated in this report are:
• North America - U.S, Canada
• Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
• APAC - China, India, Japan, Australia, Others
• Latin America - Argentina, Brazil, Others
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Key Questions Answered in This Report.
• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
• What are sales, revenue, and price analysis by regions of industry?
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