Automotive Ignition System Manufacturers to Invest Significantly in Unique Electronic Systems to Offer High Fuel Efficiency
Dublin, Oct. 12, 2022 (GLOBE NEWSWIRE) — Fact.MR’s research study on the automotive ignition system market reveals significant trends and prospects in terms of component, type, vehicle type, and region during the forecast period (2022-2027). The research focuses on providing distinct market insights to aid renowned firms in creating coherent strategies to gain a competitive edge.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global automotive ignition system market is set to reach a valuation of US$ 9.4 Billion in 2022. Sales in the market are projected to surpass US$ 13.7 Billion by 2027, exhibiting impressive growth at 7.8% CAGR over the next five years.
The automotive ignition systems market is likely to witness steady growth as a result of rising demand from government agencies and automotive owners for high efficiency and pollution reduction. Moreover, ongoing product improvements that are aimed at providing the cleanest technology will propel the demand in the market.
As per the study, automotive ignition systems produce an electric spark in the spark plugs to ignite a mixture of fuel and air. It is crucial to maintain one’s ignition system on a regular basis to keep the vehicle running securely and smoothly. Expansion of the automotive industry on a global scale is one of the key reasons propelling the growth in the market.
Consequently, companies are focusing on technology innovations with significant investments in research & development (R&D) due to rising environmental concerns. Further, strict government rules to reduce emissions and increased demand for greater efficiency of ignition systems will also spur the growth.
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Since new technologies are introduced in the modern automobile sector, use of sensors with electronically controlled units becomes essential to fulfill the demand for high power and speed in automobiles. This is expected to improve the development of electronic automotive ignition systems. Ability of such ignition systems to provide high fuel efficiency, generate less emission, and low maintenance is anticipated to push their demand worldwide.
Regionally, Asia Pacific is leading the market for automotive ignition systems and it is likely to remain lucrative during the forecast period. Increasing trend of personal vehicle transportation in India, China, and Japan will fuel the sales of vehicles, aiding the automotive ignition system market.
- By type, the electronic ignition systems segment is estimated to generate a share of nearly 35% in 2027.
- Based on vehicle type, the passenger cars segment is projected to hold the lion’s share in the global automotive ignition system market from 2022 to 2027.
- India is set to remain at the forefront in Asia Pacific automotive ignition system market during the forecast period.
- North America is set to exhibit considerable growth with ongoing development of advanced ignition technologies by renowned automotive manufacturers.
- Germany is expected to vanguard the sales in Europe automotive ignition system market over the upcoming decade.
- Rising demand for sports utilities and trucks are set to lift the annualized selling price, which would push sales of automotive ignition systems.
- Increasing development of environmentally friendly, sustainable, and improved solutions by automotive businesses to expand their client base would drive growth.
- In today’s ignitions systems, each spark plug has its own dedicated coil, which makes it more expensive to repair and difficult to diagnose, thereby hindering sales.
- Electronic or high energy ignition systems cannot be precisely controlled, which may result in lethargic acceleration and poor fuel efficiency.
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Automotive ignition system manufacturers are focusing on mergers and increasing their investments in the advancement of technologies. Manufacturers are also expanding their portfolios to meet the growing demand for high efficiency among vehicle owners. Some of the others are engaging in strategic investments in R&D to help vehicle owners keep up with stringent government policies to reduce emissions.
- In 2020, Wells Vehicle Electronics expanded its WVE Vehicle Electronics brand’s product offering. The expansion would allow Wells to best serve various unique needs of the automotive aftermarket, including technicians, warehouse distributors, parts stores, national accounts, and consumers.
- In Oct 2019, the Hitachi ltd and Honda Motor Co. agreed to merge four of their car parts businesses due to the slumping demand for conventional vehicles and advancement of technologies.
Key Companies Profiled by Fact.MR
- Wells Vehicle Electronics
- CEP Technologies Corporation
- Diamond Electric
- Robert Bosch
- Mitsubishi Electric Corporation
- Continental AG
- Delphi Automotive
- Valeo Service
- Federal-Mogul Corporation
- Hitachi Automotive Systems
- NGK Spark Plug Co
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More Valuable Insights on Automotive Ignition System Market
In its latest study, Fact.MR offers a detailed analysis of the global automotive ignition system market for the forecast period of 2022 to 2027. This study also divulges key drivers and trends promoting the sales of automotive ignition system through detailed segmentation as follows:
- Conventional Breaker Point
- Primary Ignition Systems
- Ignition Switches
- Coil Primary Windings
- Distributor Contact Points
- Ignition Resistors
- Starter Relays
- Secondary Ignition Systems
- Coil Secondary Windings
- Distributor Caps
- Plug Wires
- Spark Plugs
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
- North America
- Latin America
Key Questions Covered in the Automotive Ignition System Market Report
- What is the estimated market size of automotive ignition systems in 2022?
- At what pace will worldwide automotive ignition systems sales increase till 2027?
- What factors are driving demand in the automotive ignition system market?
- Which region is predicted to lead the worldwide automotive ignition system market between 2022 and 2027?
- What are the elements driving automotive ignition system market sales during the forecast period?
- What is the expected market estimation of the automotive ignition system during the forecast period?
Explore Fact.MR’s Coverage on the Automotive Domain
Automotive Ignition Coil Connector Market: Automotive ignition coil connector is an essential component of the automotive ignition system. The key objective of automotive ignition coil connector is to connect the ignition coil with vehicles harness. Manufacturing of automobiles has increased dramatically as a result of swift modernization and rising demand for automobiles from domestic & commercial sectors, which in turn, has increased sales of automotive ignition coil connectors.
Automotive Ignition Box Market: Controlling the performance of ignition systems is the primary goal of vehicle ignition boxes. Ignition box improves the combustion by delivering multiple sparks to the plug. Use of an ignition box for an ignition system can improve throttle response, as well as increase safety and security. High performance ignition boxes also have other benefits, including simpler starting, timing control, quicker early turnover (ETs), greater power, less plug fouling, and in some setups, even better fuel economy.
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