Fact.MR has compiled a study on the automotive ignition system market and published a report titled “Automotive Ignition System Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”. The market analysis is based on the thorough assessment of the historical data and current dynamics of the automotive ignition system market.
According to Fact.MR’s Study, The automotive ignition system sales have increased by almost 25% from 2012 to 2017 and expected to cross US$ 7 billion by 2022.
While stringent emission standards continue to be the stranglehold of the automotive ignition industry, research by Fact.MR reveals that the automotive ignition system market is expected to revolve around consistent product innovations targeted at introducing the most environment-friendly technology. The report forecats automotive ignition system demand by country for 2021-2031, giving business leaders the insights to know fast-growing, stable, and mature markets
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Recent EPA emission standards related to small spark-ignition engines and similar regulations across different nations continue to challenge the automotive ignition system market. However, as manufacturers thrive to align innovations to the evolving emission standards, regulations are streamlining the global ignition system production.
With the ongoing electrification of the automotive industry, the number of the electronic components in automobiles has increased significantly. The electronic ignition system has significantly replaced mechanical ignition systems owing to efficiency and improved reliability. Fact.MR research shows that electronic ignition systems are likely to dominate the ignition type segment in terms of value sales worth US$ 2.1 billion by 2022. The conventional ignition segment is expected to follow suit with a CAGR of over 5%. Company and brand share analysis on automotive ignition system reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players.
The study estimated that the passenger cars (PC) segment of the automotive ignition system market is at the helm with over two-fifth revenue share of the market and is poised to touch US$ 3 billion by 2022 end. Asia Pacific Excluding Japan (APEJ) is leading the value sales with the record high sales of passenger cars in the region. The heavy commercial vehicles (HCV) segment is expected to grow at a steady CAGR through 2022.
Countries including India, South Korea and China are expected to remain at the forefront of the most lucrative market of APEJ during the forecast period. Proliferating automotive parts industry against the backdrop of low labor costs and accessibility of raw materials and incremental sales of vehicles in APEJ are prime factors responsible for the robust CAGR of over 6% during the forecast period.
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Despite the challenges of fluctuating fuel prices and the emergence of EVs, reliance on gasoline is here to stay during and beyond the forecast. The research estimates the impressive dominance of gasoline ignition systems with over 57% of the total market share. However, diesel ignition systems are expected to gain 41 BPS through 2022 with the proposed recovery in the diesel engine market.
OEMs segment in the automotive ignition system market is expected to dominate with over 60% market share and surpass US$ 4.2 billion by 2022. While OEM is expected to grow steadily during the forecast period, the aftermarket segment is expected to gain 71 BPS by 2022 as manufacturers capture opportunities arising from the evolving consumer preferences.
The comprehensive analysis of the automotive ignition system market has identified interesting market avenues that are expected to transform the global market landscape in the coming years. Past incidences of recalls related to defective ignition systems have significantly influenced market performance. The recalls were mainly targeted at faulty ignition systems that can stall the engine during driving and prevent inflation of airbags. Recalls by leading automotive market players have generated an urgent need in the industry to produce effective and reliable ignition systems.
Market Segmentation:
Global Automotive Ignition System Market Size and Forecast By Vehicle Type
PC Automotive Ignition System
LCV Automotive Ignition System
HCV Automotive Ignition System
Off-road Vehicles Automotive Ignition System
Global Automotive Ignition System Market Analysis and Forecast By Fuel Type
Gasoline Automotive Ignition System
Diesel Automotive Ignition System
Global Automotive Ignition System Market Analysis and Forecast By Ignition Type
Electronic Automotive Ignition System
Conventional Automotive Ignition System
Distributor-less Automotive Ignition System
Global Automotive Ignition System Market Analysis and Forecast By Sales Channel
OEM Automotive Ignition System
Aftermarket Automotive Ignition System
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Key Country-wise Inclusions
• US Automotive Ignition System Market
• Canada Automotive Ignition System Sales
• Germany Automotive Ignition System Production
• UK Automotive Ignition System Industry
• France Automotive Ignition System Market
• Japan Automotive Ignition System Supply Assessment
Leading Market Players
BorgWarner Inc.
Delphi Automotive LLP
DENSO CORPORATION.
Federal-Mogul LLC
Robert Bosch Limited
CEP Technologies Corporation
Diamond Electric Mfg. Corp
AUTO-LEK (P) Ltd.
Hitachi Automotive Systems Americas, Inc.
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