Automotive Ignition Coil Market Expected to Grow at a CAGR of 4.5% During 2016 to 2026
Future Market Insights has announced the addition of the “Automotive Ignition Coil Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.
Future Market Insights has announced the addition of the “Automotive Ignition Coil Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.
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<strong>Au<strong>to</strong>motive</strong> <strong>Ignition</strong> <strong>Coil</strong> <strong>Market</strong><br />
In addition <strong>to</strong> this, new product development and str<strong>at</strong>egic partnerships with OEMs will be observed as<br />
lucr<strong>at</strong>ive opportunities for au<strong>to</strong>motive ignition coil businesses across the world.<strong>Ignition</strong> coil<br />
manufacturers entering long-term contracts with OEMs for ensuring continued business consolid<strong>at</strong>ion<br />
will also help them reduce production costs and increase pr<strong>of</strong>it margins. Over 90% <strong>of</strong> the market’s value<br />
is accounted by sales <strong>of</strong> au<strong>to</strong>motive ignition coils through OEMs.<br />
Engine downsizing also plays a crucial role in increasing the overall fuel efficiency <strong>of</strong> the vehicle by<br />
reducing its overall weight. Modern engines are more compact and require efficient components th<strong>at</strong><br />
occupy the least space inside an engine’s assembly. In 2017 and beyond, the demand for double spark<br />
ignition coils will remain considerably high. <strong>During</strong> the forecast period, over 50% <strong>of</strong> global au<strong>to</strong>motive<br />
ignition coil revenues will be accounted by sales <strong>of</strong> double spark coils.<br />
On an average, sales <strong>of</strong> compact or mid-size cars account for 55%-63% share <strong>of</strong> global car sales. Thus, this<br />
segment <strong>of</strong>fers lucr<strong>at</strong>ive opportunities for deployment <strong>of</strong> au<strong>to</strong>motive ignition coils. By <strong>2026</strong>-end, over<br />
three-fourth <strong>of</strong> global sales <strong>of</strong> au<strong>to</strong>motive ignition coils will be accounted by passenger cars, revenues<br />
from which are expected <strong>to</strong> soar <strong>at</strong> 4.8% <strong>CAGR</strong>. The report also includes regional analysis <strong>of</strong> global<br />
au<strong>to</strong>motive ignition coil market, which indic<strong>at</strong>es APEJ (Asia-Pacific excluding Japan) region as the largest<br />
market for au<strong>to</strong>motive ignition coils. Contribution <strong>of</strong> APEJ countries <strong>to</strong>wards global au<strong>to</strong>mobile<br />
production is cited as a key fac<strong>to</strong>r for recording highest sales <strong>of</strong> ignition coils. The au<strong>to</strong>motive ignition coil<br />
market in Middle East & Africa is also expected <strong>to</strong> remain lucr<strong>at</strong>ive, showcasing revenue growth <strong>at</strong> 5.1%<br />
<strong>CAGR</strong>.<br />
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