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Automotive Ignition Coil Market Size, Share & Industry Analysis, By Type (Coil-on-plug, Distributor based, Distributor less, and Others), By Sales Channel (OEM and Aftermarket), and By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2024-2032

Last Updated: July 08, 2024 | Format: PDF | Report ID: FBI106414

 

KEY MARKET INSIGHTS

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The global automotive ignition coil market was worth USD 11.12 billion in 2023. The market is anticipated to rise from USD 11.42 billion in 2024 to USD 15.76 billion by 2032 at a CAGR of 4.1% during the projected period. The Asia Pacific dominated the Automotive Ignition Coil Market with a share of 42.26% in 2023.


The ignition coil is one of the parts of a vehicle’s ignition system. These coils generate the high voltage needed to ignite the fuel or air mixture in the gasoline engine/vehicles. The vehicle ignition system is rugged & reliable, and it is designed in such a way that it converts 12-voltage onboard battery power into a higher voltage to create a spark at the spark plug.


Moreover, modern passenger and commercial vehicles have one ignition coil per cylinder installed over the spark plug. However, in some cases, major cars use a combined set of coil packs for all cylinders. Furthermore, older vehicles with distributors use a single-coil/pencil coil for all cylinders. Furthermore, organizations in this industry are taking proactive measures to expand their business in an untapped market by introducing new goods, developing new technologies, and implementing new strategies.


The COVID-19 pandemic impacted the global automotive ignition coil market by causing disruptions in supply chains, manufacturing operations, and consumer demand. Lockdown measures, economic uncertainties, and reduced vehicle production have led to a temporary slowdown in market growth. However, as automotive production gradually resumes and consumer confidence rebounds, the market is expected to recover. Additionally, the growing demand for electric and hybrid vehicles post-pandemic may drive innovation and adoption of ignition coil technologies.


Automotive Ignition Coil Market Trends


Rising Adoption Of Luxury Vehicles and Use of Lightweight Material & Advanced Technology to Bolster Growth


Automotive manufacturers identified the customer's need in vehicles and started adopting the changes in the new upcoming vehicle models. In developing countries, consumers are more inclined to use luxury comfort features in vehicles. In recent times, the growth rate of luxury vehicles has seen a prominent rise across the globe. Moreover, to reduce the overall weight of vehicles, automotive component manufacturers are actively innovating or using lightweight materials for their future cars.


In addition, companies operating in the ignition coil market are involved in strategies to grow their business with the latest technology. For instance, since the last 5 years, BorgWarner has added plug top technology of ignition coils with integrated electronics, which facilitates engine performance and improved fuel economy with reduced emissions. Thus, these parameters are propelling to the growth of the market.


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Automotive Ignition Coil Market Growth Factors


Increasing Demand for Advanced Ignition Systems to Improve Engine Performance and Fuel Efficiency is Driving Market Growth


Technological advancements in automotive engineering have led to the development of high-performance engines with higher compression ratios and leaner fuel mixtures, requiring more efficient ignition systems. According to industry reports, the global automotive industry continues to witness a shift toward electrification and the adoption of advanced engine technologies to meet stringent emissions regulations and fuel efficiency standards. As a result, automakers are increasingly incorporating advanced ignition coil systems into their vehicles to enhance ignition timing precision, combustion stability, and overall engine performance.


The growing trend toward turbocharged engines and downsized powertrains further underscores the importance of reliable ignition coil systems. These engines require precise control over ignition timing and spark intensity to maximize power output while minimizing fuel consumption and emissions. Also, the increasing popularity of performance-oriented vehicles, such as sports cars and high-performance sedans, contributes to the demand for high-quality ignition coil systems. These vehicles rely on advanced ignition technology to deliver optimal engine performance and responsiveness, driving the market for premium ignition coil products.


Overall, the increasing demand for vehicles with advanced ignition systems, driven by evolving regulatory requirements, engine technology advancements, and consumer preferences for improved performance and efficiency, serves as a major driving force for the automotive ignition coil market in 2024 and beyond.


RESTRAINING FACTORS


Electrification Of Vehicles And Downsizing Engine Measures May Restrain Market Growth


Consumers worldwide prefer electric vehicles over ICE vehicles due to less maintenance, rapid acceleration, and low energy costs. The governments of respective countries are also offering customers a chunk of benefits & implementing regulations related to fuel-efficient vehicles. The predicted growth of electric vehicles in the coming years will hinder the growth of these coils as these types of coils are not used in EV for operations. In addition, the ignition coil maintenance & repairing cost is slightly comparatively higher. Also, their failure chances are higher as it is mounted on the hottest part & prone to vibration. Thus, these factors are expected to significantly impact the automotive spark coil market's growth.


Automotive Ignition Coil Market Segmentation Analysis


By Type Analysis


Less Voltage Loss And Efficient Distribution Of Spark Input to Boost Dominance of Coil On Plugs Segment


On the basis of type, market is bifurcated into coil-on-plug, distributor-based, distributor less, and others.


Coil-on-plug systems are designed to efficiently distribute the ignition spark to the fuel in the combustion chamber. It delivers from 30 to 60 thousand of volts directly to the spark plug numerous times per minute. The coil-on-plug boot makes the connection between the coil and spark plugs. This segment is anticipated to hold the largest market share and continue to hold as it permits less voltage loss from the coil to the pin. Also, with fewer connections and eliminating the distributor rotor to cap air gap, it can be used in sync with injector control to have the ECU perform a misfire diagnosis.


A distributor is used in spark-ignition (SI) IC engines that have mechanically timed ignition. The distributor routes the secondary voltage current from the ignition coil to the spark plugs for the correct time and firing order. However, its growth is stagnant as it still relies on a conventional distributor, which eventually wears and requires replacement. Also, the ignition timing cannot be precisely controlled.


A discrete coil supplies voltage to each spark plug in a distributor-less ignition system. The computer in your car can then calculate the exact time to ignite each cylinder. This approach gives you more control and eliminates any moving mechanical parts. However, this segment will not grow as it is more difficult and expensive to examine and repair than a traditional system and still requires high voltage wires from the coils to the spark plugs.


The other segment consists of a cylinder, block, electronic, conventional, rail coil, and canister automotive ignition coils. This segment is likely to grow steadily at a constant CAGR during the forecast period.


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By Vehicle Type Analysis


Growing Passenger Car Sales and Production Around the World is Expected To Witness The Highest Market Share For The Passenger Car Segment


Based on vehicle type, the market is divided into commercial vehicles and passenger car.


The passenger car segment currently holds the biggest share of the global market, which is expected to continue. The advantage can be attributed to several factors, including the growing urban population and the requirement for commuting. The demand is expanding  as people become more concerned about rising pollution levels and their low running costs.


The commercial vehicle sector is expanding in terms of product offerings and sales.On the other hand, commercial EVs are now a part of the transportation business in China and the United States. During the projected period, they are anticipated to replace conventional trucks. Several medium and heavy commercial vehicles manufacturers are working on electrification and have begun producing automotive batteries with increased power capacity.


Hence, the commercial vehicle segment is projected to decline significantly within the projected period


By Sales Channel Analysis


Rising Repairing Trends of the Ignition Coil and Prone to Replace due to Limited Lifespan To Dominate the Aftermarket Segment


By sales channel, the market is divided into OEM and aftermarket.


The aftermarket currently holds the largest market share. It is anticipated to grow at a rapid pace due to increasing consumer demand and rising air pollution. Hence, the aftermarket segment will exhibit a higher CAGR during the forecast period. This can be attributed to several consumers and the coil manufacturers integrating the technologically advanced automotive ignition coil in the vehicles. This will propel the market growth.


REGIONAL INSIGHTS


High Adoption Rate 0f New Technologies in Vehicle, Rise in Vehicle Sales, And Presence Of Leading Automotive Players Dominate The Asia Pacific Region


Based on geography, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.


Asia Pacific Automotive Ignition Coil Market Size, 2023 (USD Billion)

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In 2023, Asia Pacific had a Revenue of USD 4.70 billion and is likely to be the fastest-growing region in the coming years. It is anticipated to dominate with the greatest CAGR during the forecast period. A factor attributed to the growth of this region is countries with a large population in countries like China, India contributing for more than 38% of the global population. Furthermore, many beneficial government efforts aimed at reviving the vehicle industry are expected to boost market growth in these regions. Furthermore, rapid urbanization and smart cities are estimated to accelerate the development of the automotive ignition coil market.


Europe accounted to the second-highest position in the market, of which Germany ranks first in this regional market as major auto manufacturers are located. Furthermore, increased production of vehicles and adoption of advanced technologies in IC engines will enhance market growth in this region.


North America is predicted to be the third-highest position in the global market owing to enhanced sales of vehicles and rising consumer demand for a comfortable driving experience and pollution-free commute. The market's expansion can also be ascribed to technologically advanced infrastructure and technology behemoths.


The rest of the world includes the Middle East, Latin America and Africa. The Middle East is poised to impact the market for vehicle ignition circuits substantially. This is due to the UAE government's early adoption of innovative technologies and policies such as free trade zones, which have recognized prospects in the automotive industry.


List of Key Companies in Automotive Ignition Coil Market


Improvements in Existing Product Line, Expansion from Leading Players, and Strong Focus on R&D Activities to Expand Market Share


Major ignition coil market players dominate the market as the demand for each type of coil is higher in respective regions. Rising vehicle sales, urbanization, and easy availability of the system are propelling the market growth. Moreover, operating companies in the region have invested heavily in researching and developing new products, delivering advanced products worldwide. Many companies are also actively involved in strengthening their position by focusing on various growth strategies such as M&A, investment, and collaborations. For instance, in August 2021, BorgWarner invested in Enexor BioEnergy, LLC. BorgWarner has secured a stake in the company through a 10 million dollar investment.


LIST OF KEY COMPANIES PROFILED:



  • BORGWARNER INC (MICHIGAN, U.S.)

  • DIAMOND ELECTRIC MFG. CORP (OSAKA, JAPAN)

  • DENSO CORPORATION (KARIYA, JAPAN)

  • FEDERAL-MOGUL (MICHIGAN, U.S.)

  • HELLA KGAA HUECK & CO. (LIPPSTADT, GERMANY)

  • HITACHI, LTD. (HITACHI AUTOMOTIVE SYSTEMS, LTD.) (KENTUCKY, U.S.)

  • MITSUBISHI ELECTRIC CORPORATION (TOKYO, JAPAN)

  • NGK SPARK PLUGS (AICHI, JAPAN)

  • ROBERT BOSCH GmbH (GERLINGEN, GERMANY)

  • VALEO (PARIS, FRANCE)


KEY INDUSTRY DEVELOPMENTS:



  • January 2024: NGK Spark Plugs (U.S.A.) Inc. is added to its ignition coil line by introducing its MOD Performance Ignition Coils. NGK Spark Plugs-branded MOD Performance Ignition Coils are designed and built for enthusiasts and performance vehicles. The launch includes 10 part numbers covering over 40 million VIO for popular enthusiast applications and will be sold in multipacks per car quantities.

  • December 2023: AISIN showcased its commitment to providing affordable auto parts by introducing two stellar additions: the Ignition Coil and Fan Motor.

  • July 2023: NGK Spark Plugs U.S.A. Inc. expanded its coverage of spark plugs and ignition coils by adding 15 new part numbers to this product catalog. This will extend category-leading spark plug designs and ignition coil technologies into the aftermarket

  • October 2022: Diamond Electric Holdings Co., Ltd. unveiled an ambitious goal of achieving USD 1.36 billion in annual sales by FY2026. The company intends to achieve this milestone through strategic expansion of its automotive parts business, with a specific focus on ignition coils.

  • March 2021: Diamond Electric Mfg. Co. Ltd announced plans to construct a new facility in West Virginia, USA, dedicated to manufacturing automotive ignition coils. This expansion aims to increase ignition coil production capacity in the U.S. by 20%, with the new plant covering an area of 12,263 square meters. Besides servicing Ford's existing North American production bases, the primary supply destinations include the North American production facilities of Japanese automakers.


REPORT COVERAGE


The automotive ignition coil market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, types, and leading product applications. Aside from that, the research provides information on key market trends and important industry developments. In addition to the aforementioned variables, the study includes several others contributing to the market's recent expansion.


An Infographic Representation of Automotive Ignition Coil Market

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Report Scope & Market Segmentation



















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 4.1% (2024-2032)



Unit



Value (USD Billion)



Segmentation



By Type



  • Coil-on-plug

  • Distributor based

  • Distributor less

  • Others 



By Vehicle Type



  • Passenger Cars

  • Commercial Vehicles



By Sales Channel



  • OEM

  • Aftermarket



By Geography



  • North America (By Type, By Vehicle Type, By Sales Channel)

    • U.S. (By Vehicle Type)

    • Canada (By Vehicle Type)

    • Mexico (By Vehicle Type)



  • Europe (By Type, By Vehicle Type, By Sales Channel)

    • U.K. (By Vehicle Type)

    • Germany (By Vehicle Type)

    • France (By Vehicle Type)

    • Rest of Europe (By Vehicle Type)



  • Asia Pacific (By Type, By Vehicle Type, By Sales Channel)

    • China (By Vehicle Type)

    • Japan (By Vehicle Type)

    • India (Vehicle Type)

    • Rest of Asia Pacific (By Vehicle Type)



  • Rest of the World (By Type, By Vehicle Type, By Sales Channel)






Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 11.12 billion in 2023 and is anticipated to rise to USD 15.76 billion by 2032.

The market is projected to grow at a CAGR of 4.1% and will exhibit steady growth during the forecast period (2024-2032).

The aftermarket segment is the leading segment in this market.

Increase in automotive sales, growing urbanization, and standard of living have propelled the demand for new vehicles, which drives the market growth.

BorgWarner is the leading player in the global market.

Asia Pacific dominated the market share in 2023.

The increasing advancement in the engines ignition system and rising production of ICE-based vehicles are expected to drive the market growth.

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