Pune, India -- (SBWIRE) -- 08/24/2017 -- Market Highlights
The global automotive ignition systems market has experienced a remarkable growth which has pushed the demand for ignition system in the global market. As the technological advancements is the major focus area, the ignition systems manufacturers have gained more attention towards low fuel emission control. Moreover, the increasing demand for passenger vehicles and commercial vehicles have also put pressure on manufacturers to increase the production to meet the demand. Additionally, the emerging economies of APAC and MEA have become the major driving factor which have propelled the demand for ignition system owing to increasing demand for vehicles. Seeing the growth and market demand, the global automotive ignition system market is expected to have a very broad market in future.
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Market Research Analysis
As per MRFR analysis, the global automotive ignition system market is likely to grow at a CAGR of 8.5% during the forecast period, where the market value is expected to reach USD 10.8 billion by 2023. Over the years, it has been analyzed that the automotive industry has come up with numerous technological advancements with respect to low fuel emission and consumption per vehicle. Besides, the strict government regulation over fuel consumption and emission have enhanced the demand for ignition system across the globe. Moreover, the growing emphasis on R&D activities and attention on powertrain system have shaped an ample scope for ignition systems among the manufacturers. Likewise, the rising demand for petrol engine vehicles, increasing income level and developing automotive market have propelled the demand for ignition system in the global market. On the other hand, the growing demand for electric vehicle may obstruct the growth of ignition system market.
Scope of the Report
This study provides an overview of the global automotive ignition systems market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global automotive ignition systems market by its type, component, and regions.
- Ignition Coil
- Ignition Switch
- Spark Plug
- Ignition Resistor
- North America
- Asia Pacific
- Rest of the World
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The prominent players in the automotive ignition systems market include Delphi Automotive, Robert Bosch, DENSO, Borgwarner, Federal-Mogul Corporation, Mitsubishi Electric Corporation, Continental AG, Hitachi Automotive Systems, Diamond Electric and among others.
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