Global Automotive Ignition System Market to Reach US$ 14.8 Billion by 2032, Propelled by Surging Vehicle Sales

September 09, 2022 | Automotive Industry

IMARC Group’s latest report, titled “Automotive Ignition System Market Report by Engine Type (Gasoline, Diesel), Ignition Type (Coil on Plug Ignition, Simultaneous Ignition, Compression Ignition), Component (Ignition Switch, Spark Plug, Glow Plug, Ignition Coil, and Others), Vehicle Type (Passenger Cars, Commercial Vehicle, and Others), Sales Channel (OEM, Aftermarket), and Region 2024-2032,” finds that the global automotive ignition system market size reached US$ 8.3 Billion in 2023. Automotive ignition systems are used in automobiles to produce an electric spark or heat to ignite the compressed fuel-air mixture within the combustion chamber. The burning of this mixture in the cylinders generates the motive force. Some commonly used ignition methods in these systems are compression, simultaneous, and coil-on-plug (COP) ignition. They comprise an ignition switch, ignition coil, distributor, high tension cable, and spark plug. The high voltage current supplied to the spark plugs in the engine cylinders creates electric sparks in the gaps between spark plugs to generate heat, which powers the vehicle. As a result, automotive ignition systems are widely employed in petrol engine vehicles, including passenger cars, motorcycles, and light and heavy commercial vehicles (L/HCVs).

Global Automotive Ignition System Market Trends:

The surging vehicle sales due to inflating consumer expenditure capacities and rapid urbanization represents the primary factor driving the market growth. Additionally, there has been a significant shift toward ignition systems that offer improved operational efficiency and fuel economy due to the growing environmental consciousness among individuals. In line with this, the rising adoption of laser ignition systems is positively influencing market growth. Besides this, the introduction of supportive government policies to manage the levels of carbon emissions into the environment has accelerated the product adoption rate. Furthermore, the leading players are developing innovative product variants, such as electronic ignition systems integrated with sensors, switches, and transistors, that provide enhanced horsepower levels, better mileage, and a more accurate and reliable flow of current than traditional mechanical systems. Along with this, numerous technological advancements, such as the rapid electrification of the automotive industry, have propelled the market growth. Other factors, including the expanding automotive sector, rising automobile production, and ongoing research and development (R&D) activities, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 14.8 Billion by 2032, growing at a CAGR of 6.4% during 2024-2032.

Market Summary:

Based on the engine type, the market has been bifurcated into gasoline and diesel.
On the basis of the ignition type, the market has been categorized into coil-on plug, simultaneous, and compression ignition.
The market has been segregated based on the component into ignition switch, spark plug, glow plug, ignition coil, and others.
Based on the vehicle type, the market has been divided into passenger cars, commercial vehicles, and others.
On the basis of the sales channel, the market has been classified as OEM and aftermarket.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being BorgWarner Inc., Continental AG (Schaeffler Group), Denso Corporation, Diamond Electric Mfg. Co. Ltd., Federal-Mogul Corporation (Tenneco Inc.), Hitachi Ltd., Mitsubishi Electric Corporation, NGK Spark Plug Co. Ltd., Robert Bosch Gmbh, and Valeo SA.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Engine Type, Ignition Type, Component, Vehicle Type, Sales Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	BorgWarner Inc., Continental AG (Schaeffler Group), Denso Corporation, Diamond Electric Mfg. Co. Ltd., Federal-Mogul Corporation (Tenneco Inc.), Hitachi Ltd., Mitsubishi Electric Corporation, NGK Spark Plug Co. Ltd., Robert Bosch Gmbh and Valeo
Customization Scope	10% Free Customization
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Automotive Ignition System Market to Reach US$ 14.8 Billion by 2032, Propelled by Surging Vehicle Sales

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