(MENAFN- EIN Presswire) Automotive Ignition Coil Market-By PMI
The report“Automotive Ignition Coil Market, By Product Type , By Vehicle Type , By Sales Channel and By Region - Trends, Analysis and Forecast till 2032“
COVINA, CALIFORNIA, UNITED STATES, March 27, 2023/einpresswire.com / --
automotive ignition coils are also called spark coils and play a vital role in the efficient and smooth operation of the engine. Automotive ignition coils are coil packs that provide the high voltage required to produce an electric spark in a combustion engine. This process is called 'induction'.
Companies operating in the ignition coil market have been engaged in growth strategies over the last few years, BorgWarner has added plug top technology of ignition coil with integrated electronics, which facilitates engine performance with reduced emissions and improved fuel economy, and thus, these parameters are driving the growth of the automotive ignition coil market.
Further, companies are also involved in innovations using new integrated ignition coils for advanced cylinders of vehicles. These coils improve the fuel economy and overall performance of the vehicles in the market, which is estimated to be the driving factor for the growth of the automotive ignition coil market.
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The report“Global Automotive Ignition Coil Market, By Product Type (Electronic Distributor Coil, Can-type Ignition Coil, Double Spark Coil, Ignition Coil Rail, and Pencil Ignition Coil), By Vehicle Type (Commercial Vehicle and Passenger Vehicle), By Sales Channel (OEMs and Aftermarket) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032“
Key Highlights:
.In May 2022, Hitachi Astemo Americas Expands Ignition Coil Line. Hitachi Astemo Americas, Inc. announced the expansion of its ignition coils lineup. The company now has 276 SKUs available with 260 million vehicles in operation (VIO). Hitachi Astemo manufactures millions of ignition coils each year with durability and long-lasting reliability.
.In June 2022, FEV testing found that the transient plasma ignition system increased fuel efficiency and reduced emissions. Transient Plasma Systems Inc., a leading service provider in FEV, vehicle and propulsion system development and testing, has selected the current Toyota 2.5-liter, direct and port fuel. (TPS) evaluated the performance of a nanosecond pulsed power ignition system (previous post).
Analyst View:
Global automotive ignition coil market innovation is increasing worldwide due to technological advancements in equipment and products that are more efficient to use. Further, increasing sales of automobiles, and increasing demand for advanced ignition coils are the major driving factor for the automotive ignition coil market.
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Key Market Insights from the report:
Global Automotive Ignition Coil Market accounted for US$ 10.7 billion in 2020 and is estimated to be US$ 15.24 billion by 2030 and is anticipated to register a CAGR of 3.6%. The Global Automotive Ignition Coil Market is segmented based on Product Type, Vehicle Type, Sales Channel and Region.
.Based on Product Type, Global Automotive Ignition Coil Market is segmented into Electronic Distributor Coil, Can-type Ignition Coil, Double Spark Coil, Ignition Coil Rail, and Pencil Ignition Coil.
.Based on Vehicle Type, Global Automotive Ignition Coil Market is segmented into Commercial Vehicle and Passenger Vehicle
.Based on Sales Channel, Global Automotive Ignition Coil Market is segmented into OEMs and Aftermarket
.By Region, the Global Automotive Ignition Coil Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Ignition Coil Market:
The prominent players operating in the Global Automotive Ignition Coil Market includes, Marshall Electric Corp., Delphi Automotive LLP, BorgWarner Inc., Continental AG, DENSO Corporation, Federal-Mogul Corporation, Hitachi Automotive Systems Americas, Inc., Standard Motor Products, Mitsubishi Electric Corporation, NGK Spark Plug Co., Ltd., The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some frequently asked questions about the Automotive Ignition Coil Market:
1.What is the current size of the automotive ignition coil market?
Automotive Ignition Coil Market is estimated to be US$ 15.24 billion by 2032 with a CAGR of 3.6% during the forecast period 2032
2.What are the factors driving the growth of the automotive ignition coil market?
The growth of the automotive ignition coil market is driven by factors such as the increasing demand for vehicles, the rising trend of engine downsizing, and the need for improved fuel efficiency.
3.What are the different types of automotive ignition coils?
The three main types of automotive ignition coils are the conventional ignition coil, the distributorless ignition coil, and the coil-on-plug ignition coil.
4.What are the different applications of automotive ignition coils?
Automotive ignition coils are used in a variety of applications, including passenger cars, commercial vehicles, two-wheelers, and off-road vehicles.
5.What are some of the key players in the automotive ignition coil market?
Some of the key players in the automotive ignition coil market include Delphi Technologies, BorgWarner, Hitachi Automotive Systems, Denso Corporation, and Valeo.
6.What are some of the challenges facing the automotive ignition coil market?
Some of the challenges facing the automotive ignition coil market include the high cost of electronic components, the need for ongoing maintenance, and the risk of electronic component failure.
Some Important Points Answered in this Market Report Are Given Below:
.Explains an overview of the product portfolio, including product development, planning, and positioning
.Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
.Detailed analysis of the market revenue over the forecasted period.
.Examining various outlooks of the market with the help of Porter's five forces analysis, PEST & SWOT Analysis.
.Study on the segments that are anticipated to dominate the market.
.Study on the regional analysis that is expected to register the highest growth over the forecast periodShweta Raskar
Prophecy Market Insights
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