AUTOMOTIVE IGNITION COIL MARKET ANALYSIS

Automotive Ignition Coil MarketSize and Trends

The Global Automotive Ignition Coil Market size was valued at US$ 10.32 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. Ignition coil is one of the components of a car's ignition system. It is in charge of generating an electric spark that ignites the mixture of petrol and air in a compression chamber, aiding in the movement of the vehicle. Some typical product kinds are distributor-based, distributor-less, and coil-on plugs. Automotive ignition coils are made of high-quality metal materials that are simple to install, sturdy, long-lasting, and corrosion- and wear-resistant. They have a laminated iron core encircled by two coils of copper wire. They are frequently employed in passenger cars, motorbikes, and light and heavy commercial vehicles (L/HCVs) as they increase engine economy, emissions, and performance.

The global Automotive Ignition Coil Market is expected to witness significant growth during the forecast period (2023–2030). The market is driving by the increasing demand for passenger cars and increase need for repair and replacement.

Global Automotive Ignition Coil Market Trends:

Pencil ignition coil sales are on the rise because of their compatibility and small size.

A pencil ignition coil is directly connected to the spark plug and uses full electronic ignition. This causes a high voltage pulse to be produced just at the spark plug. One benefit of the pencil ignition coil is that there is no cable loss. It works with practically all engines because of its compact design.

Figure 1: Global Automotive Ignition Coil Market Share (%), By Region, 2022