Automotive Ignition System Market Is Likely to Grow At 8.5% CAGR by 2023. Increased Vehicle Production in Japan Drives the Automotive Ignition System Market in APAC. Global Automotive Ignition System Market segmented By Type (Conventional, Electronic and Distributor-less), Component (Ignition Coil, Ignition Switch, Condenser, Spark Plug, Ignition Resistor and Others) and Region.
The reports published by Market Research Future has analyzed the present scenario of the global automotive ignition systems market and concluded that the key players dominating the market include DENSO, Borgwarner, Delphi Automotive, Robert Bosch, Mitsubishi Electric Corporation, Federal-Mogul Corporation, Hitachi Automotive Systems, Diamond Electric, and Continental AG among others.
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Automotive ignition system has a critical role to play in producing heat or sparks in automotive vehicles apart from diesel engines. These systems find wide application in petrol engine vehicles such as motorcycles, passenger car, HCV, LCV, and others. The key objective of automotive ignition system is to produce high voltage from car battery to move through the spark plug’s gap. For the purpose of generating high power from air or fuel mixture, the spark has to fire at the perfect moment at the time of compression stroke. Due to this aspect, the ignition system market demand is primarily expanding throughout automotive applications. The worldwide market for automotive ignition system has witnessed a sharp rise over the last few years due to the surging demand for automobiles. This trend has been expected to sustain throughout the global market over the forecast period. Market Research Future has conducted an exhaustive study of the global automotive ignition system market. According to the reports published by Market Research Future, the global automotive ignition system market is likely to develop at a CAGR of 8.5% over the forecast period. The report further states that the market value is been projected to attain USD 10.8 billion by the conclusion of 2023. It has been analyzed over the years that the automotive industry has constantly been experimenting with several technological progressions with regards to low fuel consumption and low fuel emission per vehicle. Additionally, the stringent government regulations over fuel emissions and consumptions keeping in view the environmental conservation approaches, have surged the demand for ignition system across the world. Besides, the expanding outlay on research and development activities coupled with the increasing focus on powertrain system have paved way for an extended scope for ignition systems among the vehicle makers. Moreover, the rising income level, growing demand for petrol engine vehicles, and developing automotive market have further accelerated the demand for ignition system in the worldwide automotive ignition systems market. On the other hand, the expanding demand for electric vehicle may restrict the growth of ignition system market.
Market Research Future has broadly segmented the global automotive ignition systems market in their reports. The segmentation has been done based on the components, regions, and types. Based on components, the market has been segmented into ignition switch, ignition coil, condenser, ignition resistor, spark plug, and other. Based on types, the market has been segmented into electronic, distributor-less, and conventional types. Electronics and conventional are the most widely applied ignition system across the world followed by the distributor less type.
Market Research Future has identified the key regional markets dominating the global automotive ignition systems market. Their reports state that Asia-Pacific market generates the major portion of revenue for automotive ignition systems. This market is subsequently followed by Europe and North America. The emerging economies such as India and China, has been largely responsible for driving the demand in this market. Additionally, Japan, being a developed economy, is distinguished as one of the key manufacturers of automobiles. These aspects have substantially driven the growth in the Asia-Pacific market. Furthermore, the stringent government regulations prevailing in this market to control pollution causing emissions, can also be considered as another significant force responsible for propelling the rapid expansion of the global automotive ignition systems market.
Major Table of Content:
TABLE 1 GLOBAL AUTOMOTIVE IGNITION SYSTEM MARKET, BY TYPE
TABLE 2 GLOBAL AUTOMOTIVE IGNITION SYSTEM MARKET, BY COMPONENTS
TABLE 3 GLOBAL AUTOMOTIVE IGNITION SYSTEM MARKET, BY REGIONS
TABLE 4 NORTH AMERICA AUTOMOTIVE IGNITION SYSTEM MARKET, BY TYPE
TABLE 5 NORTH AMERICA AUTOMOTIVE IGNITION SYSTEM MARKET, BY COMPONENTS
TABLE 6 U.S. AUTOMOTIVE IGNITION SYSTEM MARKET, BY TYPE
TABLE 7 U.S. AUTOMOTIVE IGNITION SYSTEM MARKET, BY COMPONENTS
TABLE 8 CANADA AUTOMOTIVE IGNITION SYSTEM MARKET, BY TYPE
TABLE 9 CANADA AUTOMOTIVE IGNITION SYSTEM MARKET, BY COMPONENTS
TABLE 10 EUROPE AUTOMOTIVE IGNITION SYSTEM MARKET, BY TYPE
TABLE 11 EUROPE AUTOMOTIVE IGNITION SYSTEM MARKET, BY COMPONENTS
TABLE 12 GERMANY AUTOMOTIVE IGNITION SYSTEM MARKET, BY TYPE
TABLE 13 GERMANY AUTOMOTIVE IGNITION SYSTEM MARKET, BY COMPONENTS
TABLE 14 FRANCE AUTOMOTIVE IGNITION SYSTEM MARKET, BY TYPE
TABLE 15 FRANCE AUTOMOTIVE IGNITION SYSTEM MARKET, BY COMPONENTS
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