In order to ignite the fuel-air combination in the engine and start the engine, vehicles and motorcycles need automotive ignition systems. Automotive ignition systems are essential to vehicle functioning because a clean burn of the fuel-air mixture depends on smooth ignition. The ignition system's spark must be timed perfectly in order for the engine to run properly. The global market for automotive ignition systems has been primarily driven by the expanding automotive sector.
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.
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.
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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