Automotive Ignition Coil Market Analysis

Vehicle Type (Passenger Cars, Heavy, Light Commercial Vehicles)

The global automotive ignition coil market is segmented and analyzed for demand and supply by vehicle type into passenger cars, heavy commercial vehicles, and light commercial vehicles. Out of the three types of vehicles, the heavy commercial vehicles segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing demand for heavy commercial vehicles, backed by the growth in the transportation sector. The heavy commercial vehicle division is projected to be a highly growing division in the commercial vehicle sector. HVCs are vehicles for above 40 tons GVW such as, trucks. These vehicles are used to transport commodities such as, fertilizers, grains, cement, metals, and others. For instance, in 2021, more than USD 2.5 trillion was exhibited by the automotive manufacturing industry where it produced approximately 20 million units of heavy commercial vehicles across the globe.

Distribution Channel (Original Equipment Manufacturers (OEMs), Aftermarket)

The global automotive ignition coil market is also segmented and analyzed for demand and supply by distribution channel into original equipment manufacturers (OEMs), and aftermarket. Amongst these two segments, the original equipment manufacturers (OEMs) segment is expected to garner a significant share. Original equipment manufacturers have a significant role to play in the mobility and automotive industries. These manufacturers are known to reduce the cost of manufacturing automotive parts and are useful in making custom parts to meet the requirements of end-users. Moreover, parts made by original equipment manufacturers are robust and durable, which is essential to preventing any sort of accident on the roads. In 2020, more than 40,000 people lost their lives in car crashes. 

Our in-depth analysis of the global market includes the following segments: