The global automotive ignition system market is anticipated to achieve a value of US$ 10.92 billion in 2023 and continue to grow at a CAGR of 7.70% to reach US$ 23.7 billion by the year 2033, according to FMI. The market for automotive ignition systems makes up between 5 and 7 percent of the market for automotive engines, which is its parent industry.
The government’s tightening standards and guidelines for vehicle pollution, as well as the rising demand for fuel-efficient cars, are the main factors driving the market for automotive ignition systems. New regulations have been put in place by governments and lawmakers all over the world to improve the fuel economy of both passenger and commercial vehicles.
Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report:
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The global automotive industry’s rapid growth is a significant factor supporting market development. Due to growing environmental worries among end users, there is a growing need for ignition systems that provide improved operating efficiency and fuel economy. The market for ignition systems is also being stimulated by the expanding use of laser ignition systems.
In an upcoming market research study, Future Market Insights (FMI) lays bare undercurrents and opportunities prevailing in the global Automotive Ignition Systems market. The report provides in-depth insights on the Automotive Ignition Systems market through a detailed analysis of key growth drivers, restraints, trends, challenges, and revenue growth based on historical data. Valuable information and forecast statistics covered in the Automotive Ignition Systems market report will help existing and potential new market players to craft long-term strategies as well as maintain business continuity during a crisis.
COVID-19 Impact Analysis
As with many industries, the recent outbreak of the COVID-19 has adversely affected the global automotive & transportation industry. The Automotive Ignition Systems market is no exception. Following government’s measures, particularly social distancing norms and shelter-in-place orders, companies active in the Automotive Ignition Systems market have put their production on a halt. Additionally, movement restrictions have created a logistical nightmare for market players, while the lack of ‘essential’ status caused a decline in sales.
The FMI’s report covers an exclusive chapter on the initial COVID-19 impact on the Automotive Ignition Systems market. This allows both incumbent companies and new entrants to understand the market scenario during a crisis and helps them make sound decision to gain a distinct competitive edge.
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Automotive Ignition Systems Market: Competition Analysis
The FMI’s study presents an extensive analysis of global, regional, and country-level players operating in the Automotive Ignition Systems market based on their innovative launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Automotive Ignition Systems market report.
Key players operating in the Global Automotive Ignition Systems market include:
Robert Bosch GmbH (Germany), DENSO, Delphi Automotive LLP, CEP Technologies Corporation, and Diamond Electric Mfg. Corp., AUTO-LEK (P) Ltd., Wells Vehicle Electronics, and others.
Key segments profiled in the automotive Ignition Systems market
By product Type, the automotive Ignition Systems market is segmented as:
- Conventional breaker point type ignition system
- Electronic Ignition Systems
- Distributorless Ignition Systems
By On ignition system concept Type, the automotive Ignition Systems market is segmented as:
- Primary Ignition System
- Ignition Switch
- Coil Primary Windings
- Distributor Contact Points
- Condenser
- Ignition Resistor
- Starter Relay
- Electronic Ignition Systems
- Secondary Ignition System
- Coil Secondary Windings
- Distributor Cap
- Rotor
- Plug Wires
- Spark Plug
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By Region, the automotive Ignition Systems market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East & Africa
Crucial Questions Answered in the Report
- Which end-use industry remains the top consumer of Automotive Ignition Systems in different regional markets?
- At what rate has the global Automotive Ignition Systems market been expanding during the forecast period?
- How will the global Automotive Ignition Systems market look like by the end of the forecast period?
- What innovative technologies are the Automotive Ignition Systems market players adopting to stay ahead of the pack?
- What are the restraints affecting the growth of the global Automotive Ignition Systems market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Automotive Ignition Systems market
About FMI:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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