Automotive Ignition Coil Industry Revenue to Hit USD 5.11 Billion by 2033, with a CAGR of 4.5%

The automotive ignition coil market is poised for significant growth, with an expected market size of USD 3,289.60 million in 2023, projected to reach USD 5,108.65 million by 2033. This represents a CAGR of 4.50% over the forecast period. Ignition coils are crucial in all modern petrol engines, generating the high voltage necessary to ignite spark plugs.

Recent advancements in ignition technology have led to the development of distributorless ignition systems (DIS). Luxury vehicles have seen substantial growth globally, and the popularity of coil-on-plug (COP) systems has risen. Mounting the coil directly on the ignition system improves combustion control and ignition timing precision, enhancing engine performance and reducing energy loss.

Innovations include integrating wireless technology into ignition coils for communicating diagnostic information to the vehicle's onboard computer. This allows for real-time remote diagnostics and monitoring. Electric and hybrid vehicles increasingly require advanced ignition coils to meet their specific demands.

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Hybrid systems, which combine internal combustion engines with electric motors, still benefit from traditional ignition systems. Automotive component manufacturers are focused on developing and using lightweight materials to reduce overall vehicle weight. The market features various ignition systems, from basic breaker-point ignitions to electronic and distributorless ignitions.

Consumer demand has driven automotive manufacturers to incorporate improvements into new and upcoming models, particularly in developing nations where luxury comfort amenities are becoming more common. Advanced sensors and electronic controls are essential for increased precision and efficiency. Growing investments and research and development activities are expected to further boost demand for automotive ignition coils.

Key Takeaways

According to FMI, double spark coils are expected to hold 58.5% of market revenue by 2033.
According to the forecast, passenger cars are expected to account for a 76.8% market share.
The United Kingdom is expected to experience a CAGR of 3.4% until 2033.
In 2033, the demand for ignition coils in the United States is expected to increase by 3.3% CAGR.
By 2033, the automotive ignition coil market in India is predicted to expand at 5.4% CAGR until 2033.

"3D design automotive ignition coils and compact models will drive demand. Increasing safety regulations and demand for passenger vehicle sales will drive market growth in the near future.," - says FMI Analyst.

Competitive Landscape

Several companies operate in the automotive ignition coil market, which is moderately competitive. A niche market for a specific demographic is becoming increasingly common among players. A high focus on innovation and strong partnerships has benefited the market. Due to these developments, a number of automotive ignition coils have been introduced in recent years.

Key Companies Profiled

Denso Corporation
Federal-Mogul Corporation
NGK Spark Plug Co. Ltd.
BorgWarner Ludwigsburg GmbH
Valeo SA
Robert Bosch GmbH
Delphi Automotive PLC
Hitachi Automotive Systems Americas Inc.
Mitsubishi Electric Corporation
Standard Motor Products
Marshall Electric Corp
AcDelco

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Market Developments Include

In April 2023, Robert Bosch, LLC introduced 52 new parts for its North American aftermarket, covering more than 22 million vehicles. As part of its new product line, Bosch supplies braking parts, ignition coils, water pumps, sensors, and fuel injectors for domestic, European, and Asian passenger and commercial vehicles.
In June 2023, Diamond & Zebra Electric Mfg. Co., Ltd., an Osaka-based group company, developed an ignition system that makes use of reciprocating engines in a carbon-neutral society with ammonia combustion technology. The ignition system plays a crucial role in fuel combustion.

Segmentation Analysis of the Automotive Ignition Coil Market

By Product Type:

Can-Type Ignition Coil
Electronic Distributor Coil
Double Spark Coil
Pencil Ignition Coil
Ignition Coil Rail
Others

By Vehicle Type:

Passenger Cars
LCV
HCV

By Sales Channel:

Original Equipment Manufacturers (OEM)
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East and Africa

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This release was published on openPR.