Global Ignition Coil Market Expected To Worth 3.1 Billion USD By 2022

Date: 2018-02-01

An ignition coil (also called a spark coil) is an induction coil in an automobile’s ignition system that transforms the battery’s low voltage to the thousands of volts needed to create an electric spark in the spark plugs to ignite the fuel. Some coils have an internal resistor, while others rely on a resistor wire or an external resistor to limit the current flowing into the coil from the car’s 12-volt supply.

A modern passenger automobile may use one ignition coil for each engine cylinder, due to increasing demand for compact cars, the global ignition coil is expected to demand at moderate pace of growth, the study shows the worldwide automobile production exceed 94 million in 2017, some 72 million cars were produced worldwide and about 22 million such vehicles were produced globally in 2017, thanks to impetus from increasing automobile production, the global ignition coil is projected to reach 3.1 billion USD by 2022, at a CAGR of 5.3% between 2018-2022.

Geographically, the Asia Pacific is expecting to grow at highest CAGR over the forecast period as their they are the largest production region and demand region in terms of volume by 2017, region followed by Europe, which is projected to register CAGR of 4.6% over 2018-2022. Base on country, China is projected to remain the fastest growing market for Ignition Coil in Asia Pacific and across the world during the forecast period.

Base on type, the Ignition Coil cab be classified into Electronic Distributor Coil, Can-type Ignition Coil, Double Spark Coil, Ignition Coil Rail, Pencil Ignition Coil, according to research, the Pencil Ignition Coil is expected to grow at highest CAGR for the forecast period owing to its compact size and compatibility.

Global top manufacturers operating in Ignition Coil market are Delphi Automotive, Bosch, Federal-Mogul, DENSO, Stard Motor Products, NGK Spark Plugs, ZF Friedrichshafen, Prenco Progress & Engineerin among others.

Global Ignition Coil market share by geography as following:

Read Full Report: http://www.gosreports.com/global-automotive-ignition-coil-market-research-report-2018/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 510-400-8520
Web: www.gosreports.com
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