The Reports and Insights, a leading market research company, has recently releases report titled “Ignition Coil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Ignition Coil Market Share share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Ignition Coil Market?
The global ignition coil market size was US$ 2.7 Billion in 2022. Furthermore, the market is expected to register a revenue CAGR of 4.8% during the forecast period and reach a market size of US$ 4.1Bn in 2031.
What are Ignition Coil?
An ignition coil plays a vital role in the ignition system of an internal combustion engine, converting the low voltage from the battery into the high voltage necessary to produce a spark in the spark plugs. This spark initiates the combustion process by igniting the fuel-air mixture in the engine's cylinders, powering the vehicle. Operating on electromagnetic induction principles, the ignition coil comprises a primary coil winding that receives the low voltage and a secondary coil winding that generates the high voltage.
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What are the growth prospects and trends in the Ignition Coil industry?
The ignition coil market growth is driven by various factors and trends. The ignition coil market is on a stable growth trajectory globally, propelled by the growing automotive industry worldwide. These coils are indispensable for ensuring efficient engine ignition in gasoline-powered vehicles. Technological advancements, including the introduction of sophisticated ignition systems that enhance fuel efficiency and lower emissions, are further fueling market growth. Moreover, the increasing popularity of electric vehicles is opening up new avenues for ignition coil manufacturers, as these vehicles still rely on ignition systems for specific functions. With the automotive sector evolving towards more efficient and environmentally friendly vehicles, the ignition coil market is poised for continued expansion. Hence, all these factors contribute to ignition coil market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
- Conventional Ignition Coils
- Distributor Ignition Coils
- Coil-on-Plug Ignition Coils
- Smart Ignition Coils
Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Electric Vehicles (EVs)
Technology:
- Conventional Ignition Systems
- Capacitive Discharge Ignition (CDI) Systems
- Electronic Ignition Systems
- Distributorless Ignition Systems (DIS)
Sales Channel:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Application:
- Gasoline Engines
- Diesel Engines
- Compressed Natural Gas (CNG) Engines
- Others
Segmentation By Region:
North America:
- United States
- Canada
Europe:
- Germany
- The U.K.
- France
- Spain
- Italy
- Russia
- Poland
- BENELUX
- NORDIC
- Rest of Europe
Asia Pacific:
- China
- Japan
- India
- South Korea
- ASEAN
- Australia New Zealand
- Rest of Asia Pacific
Latin America:
- Brazil
- Mexico
- Argentina
Middle East Africa:
- Saudi Arabia
- South Africa
- United Arab Emirates
- Israel
Who are the key players operating in the industry?
The report covers the major market players including:
- Bosch
- Denso Corporation
- Delphi Technologies (now part of BorgWarner)
- NGK Spark Plug Co., Ltd.
- Valeo
- Standard Motor Products, Inc.
- Hitachi Automotive Systems
- Federal-Mogul (now part of Tenneco)
- Mitsubishi Electric Corporation
- ACDelco (a division of General Motors)
- Bremi Fahrzeug-Elektrik GmbH Co. KG
- Hella GmbH Co. KGaA
- Continental AG
- SMP Deutschland GmbH (formerly BERU)
- Mitsubishi Electric Automotive America, Inc.
View Full Report: https://www.reportsandinsights.com/report/Ignition Coil-market
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