The global automotive ignition coil market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The factors contributing to the growth of the market include the growing number of e-commerce platforms across the globe, due to which the demand for automotive ignition coils has increased. The countries are reopening their international borders to trade freely, and there has been an increase in the freight and logistics activities, which fuel the growth of the global automotive ignition coil market. In addition, the rising penetration of luxurious features in automobiles, increasing awareness of personal mobility, and increase in the production and sale of automobiles across the globe will boost the global automotive ignition coil market. For instance, according to the report published by Fred.stlouisfed.org, in April 2022, the total vehicles sale in March 2022 was 13.73 million, and in December 2021 it was around 13.07 million. In addition, the total vehicle production according to the International Organization of Motor Vehicle Manufacturers in 2019 was 67,163,769, and in 2020 it was 55,834,455. 

However, with the rising concern for environmental pollution, the consumers are moving towards adopting battery electric vehicles and plug-in hybrid vehicles, as these vehicles do not use automotive ignition coil, which significantly hampering the market growth. Moreover, new product developments and launches by market players are further aid in market growth. For instance, in October 2020, NGK spark plugs announced an agreement with Advance auto parts to expand the product portfolio by offering NGK ignition coil and NTK technical sensor lines. The agreement provides the benefit for the company to continue to grow in the national market. All NTK technical sensors have undergone extreme test conditions that include vibration, thermal shock, and OBD verification testing. 

Impact of COVID-19 Pandemic on Global Automotive Ignition Coil Market 

The COVID-19 pandemic has affected the economies of the countries across the globe. Many suppliers and manufacturers suffered from a substantial loss and face the limited availability of resources throughout the year, which had a negative impact on their business operations. Moreover, the market players are highly dependent on China for the supply of raw materials for the engine system and other automotive products, and travel restrictions have resulted in the delays in the shipments of the products.

Further, the market is projected to recover after the COVID-19 pandemic, and the key market players operating in the global automotive ignition coil market are resuming their operations, which is boosting the market in the near period.  

Segmental Outlook 

The global automotive ignition coil market is segmented based on type, vehicle type and distribution channel. Based on type, the market is bifurcated into conventional, electronic, distributor-less (dis), and coil-on-plug (cop). Based on vehicle type, the market is sub-segmented into passenger cars and commercial vehicles. Based on distribution channel the market is sub-segmented into OEM and aftermarket. Based on type, the distributor-less segment is anticipated to witness the higher growth in coming years, owing to its various benefits such as, it is integrated into all newer vehicles, the coils sit directly on the top of the spark plug which aids in starting the engine frequently, and the system is completely electronic. Moreover, the system is controlled by the car’s computer; owing to its benefits the distributor-less segment has maintained its presence in global automotive ignition coil market. 

Global Automotive Ignition Coil Market Share by Type, 2021 (%)

The Coil-On-Plug Segment Provides Several Benefits in the Global Automotive Ignition Coil Market 

The coil-on-plug segment is expected to hold lucrative  share in the global automotive ignition coil market. The evolution of coil-on-plug ignition systems has provided several benefits. The newer system in coil-on-plug provides fuel efficiency, more reliable operation, and reduced the maintenance cost. A coil-on-plug ignition system allows the individual coils to ignite spark plugs, which leads to reduced emissions and increased the capacity of the vehicle, due to more optimized control spark timing. Further, the coil on the plug ignition system can generate up to 30% more energy than traditional systems. In addition, the new product developments/launches by the key market players are further aid in market growth. For instance, in May 2019, Walker expanded its portfolio by offering coil-on-plug boots and boot kits. The focus on increasing coverage for kits is to offer better service options to the distributor, installer, and end consumer. The walker coil-on-plug boots and boot kits offer the necessary components including springs and seals.

Regional Outlooks

The global automotive ignition coil market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  North America is anticipated to grow at the considerable rate during the forecast. The foremost reason for the growth of the global automotive ignition coils is a rise in disposable income, which leads to a significant increase in the sales of luxury vehicles among people. Moreover, most luxurious vehicles are equipped with multiple ignition coils due to their high power and excellent performance, resulted in the increase in the automotive vehicles, in the North America region.  

Global Automotive Ignition Coil Market Growth, by Region 2021-2028

The North-America Region is Expected to Dominate in the Global Automotive Ignition Coil Market during the Forecast Period

The North America region is predicated to dominate during the forecast period. The factor attributed to the growth of the global automotive ignition coil market of the North America region is the countries having the mass population base such as the US and Canada, the increased production of vehicles will further boost the growth of the market in the North America region. For instance, according to Americanaumakers.org, the automakers and suppliers are the US largest manufacturing sector, responsible for 3% of US GDP. The auto sector of the US ranks third out of the 40 largest industries. Meanwhile, the US auto production doubled during that same period, from 5.6 million vehicles in 2009 to 11.1 million vehicles in 2018. US auto production is expected to reach 11.7 million by 2025.

Market Players Outlook

The major companies serving the global automotive ignition coil market are Borg Warner Inc., Dense Products and Services Americas Inc., HELLA GmbH & Co. KGaA, Hitachi Automotive Systems Americas Inc., Robert Bosch GmbH, Tenneco, Marshall Electric Corp., NGK Spark Plugs USA Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2020, Denso Products and Services Americas expanded its line of aftermarket ignition coils. Denso offers four new coil-on-plug (COP) parts that extend its coverage to 2018-2018 Honda and Acura models. Denso offers a total of 136 part numbers of high-performance ignition coils which covers more than 6 million vehicles.   

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global automotive ignition coil market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.