Automotive Ignition Coil Market Size, Share, Analysis, Trends, Growth, 2032

Automotive Ignition Coil Industry Prospective:

The global automotive ignition coil market size was evaluated at $11 billion in 2023 and is slated to hit $15 billion by the end of 2032 with a CAGR of nearly 5% between 2024 and 2032.

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Automotive Ignition Coil Market: Overview

Automotive ignition coil is made up of high-quality metals that can be easily deployed as they are durable, corrosion resistant, and long-lasting. Furthermore, these products are installed on a large scale in heavy commercial vehicles, passenger cars, and motorbikes as they enhance the economy of engine, vehicle performance, and reduce fuel emissions.

Key Insights

• As per the analysis shared by our research analyst, the global automotive ignition coil market is projected to expand annually at the annual growth rate of around 5% over the forecast timespan (2024-2032)
• In terms of revenue, the global automotive ignition coil market size was evaluated at nearly $11 billion in 2023 and is expected to reach $15 billion by 2032.
• The global automotive ignition coil market is anticipated to grow rapidly over the forecast timeline owing to the humungous sales of vehicles leading to enhanced automotive production.
• In terms of product type, the pencil ignition coil segment is slated to register the highest CAGR over the forecast period.
• Based on vehicle type, the passenger cars segment is predicted to contribute majorly towards the global industry size in the upcoming years.
• Region-wise, the North American automotive ignition coil industry is projected to register the fastest CAGR during the projected timespan.

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Automotive Ignition Coil Market: Growth Factors

Large-scale vehicle production to boost the global market trends over the analysis period

Humungous sales of vehicles have resulted in enhanced automotive production, thereby promoting the growth of the global automotive ignition coil industry. Apart from this, a rise in the need for maintenance & repair of ignition coils for the longevity of cars will boost the global market trends. Massive application of internal combustion engines in vehicles is likely to spur the expansion of the market globally. Large-scale use of luxury vehicles and a rise in lightweight construction along with the onset of cutting-edge technologies will scoop up the expansion of the global market.

Automotive Ignition Coil Market: Restraints

A rise in the preference for electric & hybrid cars to hinder the global industry expansion over 2024-2032

Large-scale use of electric vehicles due to low maintenance charges along with strict government laws encouraging the use of fuel-efficient automotive is likely to restrict the expansion of the global automotive ignition coil industry. Moreover, growing product costs can further restrict the growth of the industry across the globe.

Automotive Ignition Coil Market: Opportunities

Humungous need for reducing carbon emissions to generate new facets of growth for the global market

Large-scale use of 3D printing for improving the quality of ignition coils along with reducing product costs can open new dimensions of growth for the global automotive ignition coil market. Demand for weight reduction and component size to decrease fuel emissions will further spearhead the expansion of the global market.

Automotive Ignition Coil Market: Challenges

Rise in the excise duties imposed by the European Commission on various emerging economies can challenge the expansion of the global industry

Stringent government laws related to the manufacture, sale, and purchase of the product can create obstacles in the growth of the global automotive ignition coil industry. Furthermore, a rise in the tariffs levied by the EU on various countries in Asia can prove detrimental to the expansion of the industry across the globe.

Automotive Ignition Coil Market: Segmentation

The global automotive ignition coil market is divided into product type, vehicle type, and region.                                          

In terms of product type, the automotive ignition coil market across the globe is bifurcated into pencil ignition coil, can-type ignition coil, double spark coil, ignition coil rail, and electronic distributor coil segments. Additionally, the pencil ignition coil segment, which gained approximately 35% of the global market revenue in 2023, is expected to record the highest gains in the analysis timeline. The segmental expansion during the period from 2024 to 2032 can be owing to a prominent surge in the sale of product due to their tiny size and compatible nature.

Based on the vehicle type, the global automotive ignition coil industry is divided into commercial vehicles and passenger cars segments. Furthermore, the passenger cars segment, which gathered approximately two-thirds of the global industry earnings in 2023, is set to make noticeable contributions towards the global industry size in the next decade. The growth of the segment in the upcoming years can be attributed to the growing need for people to travel to various places for performing routine activities including jobs.  

Automotive Ignition Coil Market: Report Scope

Automotive Ignition Coil Market: Regional Insights

Asia-Pacific is expected to maintain its leadership status in the global market in the forecast period

Asia-Pacific, which contributed about three-fourths of the global automotive ignition coil market revenue in 2023, is expected to establish a key position in the global market in the upcoming years. In addition to this, the regional market surge in the forecast timeframe can be attributed to supportive government policies related to automotive production in countries such as Malaysia, China, Thailand, Indonesia, India, Japan, and South Korea. A large number of firms are establishing their manufacturing units in Asia, thereby not only contributing to the economy of the continent but also boosting the production and sales of automotive ignition coils. 

The North American automotive ignition coil industry is slated to register the highest growth rate in the next few years. The rapid surge of the industry in North America can be due to the flourishing automotive sector in the U.S. along with the rise in the production of automotive components in the country Apart from this, huge sales of automotive parts by the U.S. to Asia as well as European countries will further bolster the growth of the market in North America. Growing awareness among the population of the U.S. and Canada about reducing environmental degradation as well as minimizing carbon footprints will help in propping up the industry landscape in the region.  

Key Developments

• In the first half of 2024, NGK Spark Plugs Inc. extended its automotive ignition coil product line through the launching of MOD performance ignition coils. Such strategic moves will steer the expansion of the automotive ignition coil business across the globe.

Automotive Ignition Coil Market: Competitive Space

The global automotive ignition coil market profiles key players such as:

• VALEO
• Hitachi Limited
• Robert Bosch GmbH
• Mitsubishi Electric Corporation
• NGS Spark Plugs
• Borgwarner Inc
• Denso Corporation
• Diamond Electric Manufacturing Corporation
• Federal Mogul
• HELLA KGAA HUECK & CO.

The global automotive ignition coil market is segmented as follows:

By Product Type

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

By Vehicle Type 

• Commercial Vehicles
• Passenger Cars

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa