Automotive Ignition Components Market: Introduction
- Rising demand for ignition components, which reduce the vehicle start-up time and increase fuel efficiency, is driving research and development of automotive ignition components and subsequently, fueling the global automotive ignition components market
- Ignition components are part of a vehicle ignition system, which is responsible for starting the vehicle. For instance, proper functioning of the ignition coil ensures a timely spark and ensures no delay in combustion of fuel, thereby starting the vehicle on time.
Key drivers of global automotive ignition components market
- Regulations enacted by government authorities and regulatory bodies are compelling automakers to improve vehicle economy, which in turn are boosting the global automotive ignition components market. Engine noise, longer time taken for the engine to start, and engine backfire are a few signs that indicate that the ignition system needs a maintenance check. When the ignition components of an engine ignition system fail, the vehicle takes longer to start and also consumes more fuel, subsequently resulting in more emissions.
- Vehicle regulations and standards including Clean Air Act Amendments (CAAA), California Standards (CARB), Japanese emission standards for gasoline and LPG passenger cars, and Euro 5/6 standards have compelled automakers to boost fuel efficiency of their vehicles. Therefore, majority of vehicle manufacturers are investing to develop innovative solutions in order to enhance vehicle performance. This, in turn, is anticipated to drive the global automotive ignition components market.
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Increasing trend toward electric vehicles (EVs) to hamper global automotive ignition components market
- Rising need for sustainable energy source to power a vehicle has led to several technological innovations in electrical vehicles. These innovations make an EV independent of conventional ignition systems required to start vehicles. Moreover, increased awareness about climate change and significance of reducing air pollution in conjunction with the fact that EVs do not emit harmful emission are compelling consumers to adopt EVs over conventional IC-engine powered vehicles. All the aforementioned factors are anticipated to hamper the global automotive ignition components market.
Aftermarket segment to offer lucrative opportunities to automotive ignition components market
- Automotive ignition components are required by law to improve vehicle economy and enhance performance. For instance, Federal laws in the U.S. prompt automakers to install an ignition coil and ignition module on new vehicles that should be warranted for at least two years or 24,000 miles, whichever occurs first. Ignition components need to be maintained, as they are responsible for optimal performance of the engine and subsequently, of vehicle economy. Government regulations on mandatory regular replacements of ignition components in conjunction with mandatory vehicle emission certificates such as PUC to ensure vehicle’s optimal start time are key factors propelling the global automotive ignition components market.
Asia Pacific to dominate global automotive ignition components market
- Major vehicle manufacturers including Tata Motors, Dongfeng Motors, Nissan Motors. KIA Motors, Suzuki Motors, Subaru Corporation, and Mahindra and Mahindra are based in Asia Pacific. These automakers are focused on improvement of vehicle technologies and investment in research and development activities that enhance vehicle economy and performance.
- Japan, China, South Korea, and India are among the top consumers of two-wheeler and three-wheeler vehicles globally. Moreover, these countries have well-established supply chains and witness significant presence of aftermarket players in the automotive industry in their respective countries. Therefore, the region witnesses an intense competition among automakers and aftermarket players, driving the automotive ignition components market in the region. All the factors mentioned above are propelling the automotive ignition components market in Asia Pacific.
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Key players operating in global automotive ignition components market
The global automotive ignition components market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive ignition components market are:
- BorgWarner Inc.
- Delphi Auto Parts
- Denso Corporation
- Diamond Electric Mfg. Co. Ltd.
- FARM GROUP IP LLC
- HELLA GmbH & Co. KGaA
- Hitachi Automotive Systems Ltd.
- MARSHALL ELECTRIC, CORP
- Mitsubishi Electric Corp.
- NGK Spark Plug Co. Ltd.
- Robert Bosch GmbH
- Walker Products, Inc.
- Weichai Power Co. Ltd.
Global Automotive Ignition Components Market: Research Scope
Global Automotive Ignition Components Market, by Vehicle Type
- Two-Wheeler Vehicle
- Three-Wheeler Vehicle
- Passenger Vehicle
- Hatch Back
- Commercial Vehicle
- Light Commercial
- Heavy Commercial
Global Automotive Ignition Components Market, by Ignition Technology
- Conventional Ignition (CI)
- Distributor Ignition (DI)
- Electronic Ignition (EI)
Global Automotive Ignition Components Market, by Propulsion
Global Automotive Ignition Components Market, by Fuel
- LPG/ CNG
Global Automotive Ignition Components Market, by Sales Channel
Global Automotive Ignition Components Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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