Automotive ignition system plays a crucial role in generating sparks or heat in automotive vehicles except diesel engines. These systems are widely used in petrol engine vehicles such as passenger car, motorcycles, LCV, HCV and others. The main purpose of ignition system is to generate high voltage from car battery to flow through the spark plug’s gap. In order to generate high power from fuel or air mixture, the spark must fire at the right moment during the compression stroke. Owing to these factors, the demand for ignition system is predominantly increasing in automotive applications. The global market for automotive ignition system has seen a potential growth over the last few years owing to the increasing demand for vehicles and it has been estimated that the global market will retain the same market during forecasted period.
As per MRFR analysis, the global automotive ignition system market is expected to grow at a CAGR of 8.5% during the forecast period, where the market value is projected to reach USD 10.8 billion by 2023.
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As per MRFR analysis, the income levels of individuals in the emerging countries have been gradually increasing due to the emerging economies and the government initiatives. However, with growing income levels, there is scope for more expenditure in industries such as the automotive industry. The booming automotive industry coupled with steadily increasing income of the growing population, is expected to lead to significant growth. Moreover, government regulations regarding fuel economy is pushing automotive ignition systems manufacturers to increase focus on technological advancements and production capacity.
The market has been analyzed on two different segments such as types and components, and regions. On the basis of type, the market is segmented into conventional, electronic and distributor-less, whereas, the components have been segmented into ignition coil, ignition switch, condenser, spark plug, ignition resistor and other. Among the types, conventional and electronics have acquired the largest market share in terms of revenue owing to its superior mechanical properties and higher reliability with respect to low emission control.
Geographically, Asia-Pacific is predicted to be the major consumer of ignition system owing to the presence of emerging automotive market such as China, India Japan, Indonesia and others. Asia-Pacific holds the major market in automotive industry which in turn for ignition control. Moreover, the large presence of tier 1 and tier 2 companies have also become a major factor responsible for market growth. North America and Europe have been also a major market for ignition system owing to the presence of large market such as US, Germany, UK, France and others.
The prominent players in the automotive ignition systems market include Delphi Automotive, Robert Bosch, DENSO, Borgwarner, Federal-Mogul Corporation, Mitsubishi Electric Corporation, Continental AG, Hitachi Automotive Systems, Diamond Electric and among others.
The report for Global Automotive Ignition System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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