Automotive Ignition Coil Market Size (2024 - 2029)

The automotive ignition coil market is experiencing growth driven by increasing vehicle production and sales globally, particularly in emerging economies where urbanization and rising incomes are significant factors. Despite challenges such as the US-China trade war and the potential impact of electrification on market demand, the market is supported by the rising need for maintenance and repair activities, which boost the aftermarket segment. The market's expansion is also influenced by the varying average age of vehicles across different countries, with older vehicles requiring more frequent ignition coil replacements.

Market Size of Automotive Ignition Coil Industry

Automotive Ignition Coil Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 10.79 Billion
Market Size (2029) USD 13.33 Billion
CAGR (2024 - 2029) 4.32 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Automotive Ignition Coil Market Major Players

*Disclaimer: Major Players sorted in no particular order

Automotive Ignition Coil Market Analysis

The Automotive Ignition Coil Market size is estimated at USD 10.79 billion in 2024, and is expected to reach USD 13.33 billion by 2029, growing at a CAGR of 4.32% during the forecast period (2024-2029).

  • The outbreak of COVID-19 caused several vehicle and component manufacturing facilities to shut down temporarily. However, with the gradual removal of lockdowns in several countries, the demand for vehicles slightly increased. The impact was evident in the auto industry as many companies faced disturbances with their production activities and supply chain.
  • However, with the pandemic subsiding in the latter half of 2021 and early 2022, the industry has been crawling back up to pre-pandemic conditions, further aided by the exponentially growing electrification of the automotive industry. Despite the growth, electrification is a clear sign of a potential market demand slowdown for the ignition coils and can reduce market value in the coming years.
  • The rise in the sales of automobiles globally and an increase in vehicle production positively affect the sales of automotive ignition coils. Even though the recent economic conditions have remained unstable, the global automotive industry has witnessed satisfactory growth. This is especially true in emerging economies, where automotive production is expected to be significant compared to developed economies. Rising urbanization, per capita income growth, and a rise in the living standards in these emerging economies also play a crucial role in market growth.
  • The growing automotive demand worldwide is expected to increase the demand for ignition systems. However, at present, vehicle demand is increasing at a slow growth rate due to various reasons. The prime factor affecting vehicle sales and production in every country is the US-China trade war, owing to which the ignition system is likely to witness a slow growth rate in the near future.
  • The increase in the average life of vehicles has accelerated maintenance and repair activities, including replacing their ignition coils. As the number of miles traveled increases, the replacement of ignition coils increases, which further boosts the demand for the automotive ignition coil market in the aftermarket segment.
  • Another factor is the per capita income, which varies from country to country, and may influence the average age of vehicles. Despite the United States, China, India, and some European countries, like France, and Germany, observing high per capita incomes, the average age of vehicles has been increasing and was approximated to 10 years for passenger cars and 11-14 years for commercial vehicles.

Automotive Ignition Coil Industry Segmentation

An automotive ignition coil is an essential component in a vehicle's ignition system that transforms the low-voltage power from the battery into high-voltage electricity. This high voltage is required to create a spark in the spark plugs, igniting the air-fuel mixture in the engine's combustion chamber, enabling the vehicle's engine to start and run.

The automotive ignition coil market is segmented by type (block ignition coils, coil on plug, and ignition coil rail), operating principle (single spark technology and dual spark technology), distribution channel (OEM and aftermarket), vehicle type (passenger cars and commercial vehicles), and geography (North America, Europe, Asia-Pacific, and the rest of the world). 

The report offers forecasts for the automotive ignition coil market in volume and value (USD) for all the above segments.

Type
Block Ignition Coils
Coil on Plug
Ignition Coil Rail
By Operating Principle
Single Spark Technology
Dual Spark Technology
By Distribution Channel
OEM
Aftermarket
By Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Argentina
South Africa
Other Countries
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Automotive Ignition Coil Market Size Summary

The automotive ignition coil market is poised for growth over the forecast period, driven by the increasing demand for vehicles globally. Despite the challenges posed by the COVID-19 pandemic, which temporarily disrupted manufacturing and supply chains, the market has shown resilience and is gradually recovering. The rise in vehicle production, particularly in emerging economies, is a significant factor contributing to market expansion. Urbanization, rising per capita incomes, and improved living standards in these regions further bolster demand. However, the growing trend towards electrification in the automotive industry presents a potential challenge, as electric vehicles do not require ignition coils, potentially slowing market growth in the long term.

The Asia-Pacific region is expected to lead the market, supported by robust vehicle demand in countries like China, India, and ASEAN nations. The region's growth is further fueled by the increasing need for commercial vehicles due to expanding construction, e-commerce, and mining activities. While the market faces challenges from declining vehicle sales in major automotive markets and the impact of the US-China trade war, the demand for plug-in hybrid electric vehicles offers a significant opportunity for growth. The market is characterized by the presence of key players such as Hitachi Automotive Systems, Continental AG, and Diamond Electric Mfg. Co. Ltd, who are investing in technological advancements and expanding their production capacities to maintain a competitive edge.

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Automotive Ignition Coil Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing Demand for Passenger Cars and Commercial Vehicles

      2. 1.1.2 Others

    2. 1.2 Market Restraints

      1. 1.2.1 Growing Demand for Electric Vehicles Hindering the Automotive Gear Market Growth

      2. 1.2.2 Others

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Block Ignition Coils

      2. 2.1.2 Coil on Plug

      3. 2.1.3 Ignition Coil Rail

    2. 2.2 By Operating Principle

      1. 2.2.1 Single Spark Technology

      2. 2.2.2 Dual Spark Technology

    3. 2.3 By Distribution Channel

      1. 2.3.1 OEM

      2. 2.3.2 Aftermarket

    4. 2.4 By Vehicle Type

      1. 2.4.1 Passenger Cars

      2. 2.4.2 Commercial Vehicles

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Rest of North America

      2. 2.5.2 Europe

        1. 2.5.2.1 Germany

        2. 2.5.2.2 United Kingdom

        3. 2.5.2.3 France

        4. 2.5.2.4 Italy

        5. 2.5.2.5 Russia

        6. 2.5.2.6 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 China

        2. 2.5.3.2 Japan

        3. 2.5.3.3 India

        4. 2.5.3.4 South Korea

        5. 2.5.3.5 Rest of Asia-Pacific

      4. 2.5.4 Rest of the World

        1. 2.5.4.1 Brazil

        2. 2.5.4.2 Argentina

        3. 2.5.4.3 South Africa

        4. 2.5.4.4 Other Countries

Automotive Ignition Coil Market Size FAQs

The Automotive Ignition Coil Market size is expected to reach USD 10.79 billion in 2024 and grow at a CAGR of 4.32% to reach USD 13.33 billion by 2029.

In 2024, the Automotive Ignition Coil Market size is expected to reach USD 10.79 billion.

Automotive Ignition Coil Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)