What is Global Ignition Coil Market?
The Global Ignition Coil Market is a vast and dynamic sector that plays a crucial role in the automotive industry. An ignition coil, also known as a spark coil, is an induction coil in an automobile's ignition system that transforms the battery's low voltage to the thousands of volts needed to create an electric spark in the spark plugs to ignite the fuel. The market for these essential components is global, with demand and supply chains stretching across continents. The market's value was estimated at US$ 2556.8 million in 2022, and it is projected to grow significantly in the coming years.
Single-Spark, Multi-Spark in the Global Ignition Coil Market:
The Global Ignition Coil Market is segmented into Single-Spark and Multi-Spark based on the type of ignition coil. Single-Spark ignition coils are typically used in vehicles with a distributor-based ignition system. They are designed to create a spark for each cycle of the engine. On the other hand, Multi-Spark ignition coils are used in distributor-less ignition systems. These coils can create multiple sparks for each cycle of the engine, improving the efficiency and performance of the vehicle. The choice between Single-Spark and Multi-Spark ignition coils depends on the type of vehicle and its ignition system. Both types of ignition coils have their advantages and disadvantages, and the choice between them depends on the specific requirements of the vehicle.
OEM, Aftermarket in the Global Ignition Coil Market:
The Global Ignition Coil Market finds its usage in two main areas: OEM (Original Equipment Manufacturer) and Aftermarket. OEMs are companies that produce parts and equipment that may be marketed by another manufacturer. In the context of the Ignition Coil Market, OEMs are the vehicle manufacturers who install the ignition coils in the vehicles during the production process. The Aftermarket, on the other hand, refers to the market for spare parts, accessories, and components, which are not sourced from the original car manufacturer. The ignition coils for the aftermarket are manufactured by third-party companies and are often used for replacement or performance enhancement purposes.
Global Ignition Coil Market Outlook:
Looking at the market outlook for the Global Ignition Coil Market, it was valued at US$ 2556.8 million in 2022. The market is expected to grow at a steady pace, reaching an estimated value of US$ 3587.9 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period from 2023 to 2029. The OEM segment accounted for a significant portion of the sales in this market, with a share of about 83% in 2019. The market is also characterized by a high level of concentration, with the top ten players accounting for over 58% of the total revenue.
| Report Metric | Details |
| Report Name | Ignition Coil Market |
| Accounted market size in 2023 | US$ 2692.7 million |
| Forecasted market size in 2029 | US$ 3587.9 million |
| CAGR | 4.9 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Bosch, Denso, Delphi, Tenneco (Federal-Mogul), BorgWarner, AcDelco, Hitachi, NGK, Eldor Corporation, Yura, Mitsubishi, SMP, SparkTronic, Marshall Electric, SOGREAT, Diamond Electric Mfg, Jiaercheng, KING-AUTO |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
