Automotive Ignition System Market Overview:
The global automotive
ignition system market is expected to exhibit a strong 8.5% CAGR over
the forecast period till 2030, according to the latest research report from
Market Research Future (MRFR). The global automotive ignition system market is
expected to reach a valuation of USD 20 billion by 2030, according to the
report.
Automotive
ignition systems are used in automobiles and motorcycles to ignite the fuel-air
mixture in the engine and initiate operation of the engine. Automotive ignition
systems play a crucial role in automotive operations, as smooth ignition is
crucial to clean burning of the fuel-air mixture. In order for the engine to
operate smoothly, the timing of the spark from the ignition system needs to be
perfect. The growing automotive industry has been the major driver for the
global automotive ignition system market.
Growing demand
for passenger cars has driven the demand for automotive ignition systems in
recent years. Growing purchasing power of consumers in emerging countries has
driven the automotive industry at a robust growth rate in recent years, as more
and more consumers have purchased automobiles in recent years. The growing
demand for the convenience offered by passenger cars, which allow the user to
protect themselves from rain and other environmental factors, is likely to
drive the passenger car industry in the coming years, thus leading to a growing
demand for automotive ignition systems.
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The commercial
vehicles industry has also rapidly expanded in the last few years, as growing
urbanization and industrialization in emerging regions has driven the demand
for commercial vehicles such as lorries and tractors. The growing demand for
long-distance shipping of various commodities through roadways has led to a
growing demand for lorries and other commercial vehicles. Technological
advancement in commercial vehicles has led to a new generation of commercial
vehicles equipped with the latest in safety and entertainment features,
enabling a smooth, hassle-free ride for the driver. The growing demand for
agricultural vehicles is also likely to be a major driver for the global
automotive ignition system market over the forecast period. The agriculture
industry has grown rapidly over the last few years due to the growing demand
for food from various regions across the world. Growing mechanization in the
agriculture industry in developing regions such as Asia Pacific and Latin
America has also been a major driver for the demand for agricultural vehicles. This
is likely to be a major driver for the automotive ignition system market over
the forecast period.
On the other
hand, the growing demand for electric vehicles and diesel vehicles is likely to
hamper the global automotive ignition system market over the forecast period. Electric
vehicles do not require ignition systems, and the demand for electric vehicles
is growing due to their environmental benefits. Diesel vehicles are also rising
in demand due to their higher mileage. This is likely to remain a key restraint
on the global automotive ignition system market over the forecast period.
Competitive Leaderboard:
•
Delphi Automotive
•
Robert Bosch
•
DENSO
•
Borgwarner
•
Federal-Mogul Corporation
•
Mitsubishi Electric Corporation
•
Continental AG
•
Hitachi Automotive Systems
•
Diamond Electric
Segmentation:
By Type
·
Conventional
·
Electronic
·
Distributor-less
By Component
·
Ignition Coil
·
Ignition Switch
·
Condenser
·
Spark Plug
·
Ignition Resistor
·
Others
Regional Analysis:
Asia Pacific is
the leading revenue generator in the global automotive ignition system market
and is likely to retain this position over the forecast period due to the
growing automotive industry in the region. The growing demand for commercial
vehicles in Asia Pacific is also a major driver for the global automotive
ignition system market over the forecast period.
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report:
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Automotive Electronic Brake System Market
Automotive Advanced Shifter System Market
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