Vehicle Ignition Coil Market Segmentation And Analysis By Recent Trends, Development Trends And Growth Rate By Regions To 2026

Rise in vehicle production, increase in sales of luxurious vehicles in developing countries, and surge in disposable income fuel the growth of the global vehicle ignition coil market. On the other hand, increase in trend of shared mobility, and rise in demand for electric vehicles curtail down the growth to some extent. However, untapped developing markets in Africa and Asia are expected to create multiple opportunities in the near future.

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Vehicle ignition coil is a low current high voltage transformer with the ability to convert vehicle's 12 Volt power supply into the 25-30,000 volts which is generally required to jump the gap of the spark plug, which in turn helps in instigating combustion. When damaged, the ignition coils are always replaced in complete sets.

According to a recent report published by Allied Market Research, titled, " Vehicle Ignition Coil Market by Type, Vehicle Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026." The global vehicle ignition coil market was valued at $5.59 billion in 2018, and is projected to reach $7.55 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026. By type, the coil-on-plugs segment was the highest revenue contributor in 2018, accounting for $2.35 billion, and is estimated to reach $3.32 billion by 2026, registering a CAGR of 4.5% during the forecast period.

Automotive ignition coil, also known as spark coils, in a vehicle is an induction coil responsible for producing an electric spark that ignites the air and gasoline mixture in compression chamber, which helps in the vehicle movement. These coils help in smooth and efficient operation of the engine. Few coils include an internal resistor, while others depend on an external resistor to limit the current flow in the ignition coil. Earlier, every ignition coil system required mechanical contact breaker points and a capacitor (condenser) but now electronic ignition systems use a power transistor to provide pulses to the ignition coil. This has influenced the Vehicle ignition coil market.

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Additionally, original equipment manufacturers in the developing regions such as China, India, and Japan, are adapting to the changing regional and segment patterns of supply and demand with respect to their production & supply base footprints, supply chains, and product portfolio. In addition, rise in urbanization along with increase in population boost the demand for vehicles among consumers.

For instance, North America is the home for largest vehicle producers in the world, including General Motors and Ford, which account for 25% of the global vehicle production. Moreover, emergence of global potential automobile manufacturers including General Motors and Volkswagen AG concentrating their plants in China through joint ventures with local manufacturers is expected to enhance the ignition coil demand and drive the growth of the vehicle ignition coil market globally.

The key players analyzed in the report include BorgWarner, Denso, Diamond Electric Mfg. Corp, Federal-Mogul, HELLA GmbH & Co. KGaA, Hitachi automotive, Mitsubishi Electric Corporation, NGK Spark Plug, Robert Bosch, and Valeo.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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