Global vehicle ignition coil market projected to grow from $11.02B in 2023 to $16.39B by 2033.

From GlobeNewswire: 2024-07-08 20:00:00

The global vehicle ignition coil market is projected to grow from $11.02 billion in 2023 to $16.39 billion by 2033, with a CAGR of 4.05%. Ignition coils generate high voltage for vehicle motion by converting 12-volt power. Performance vehicles boost demand for premium ignition coils, but the shift to electric vehicles may impact the market.

The coil-on-plug segment is expected to dominate the vehicle ignition coil market due to minimal voltage loss. Passenger cars are driving market growth with a need for innovative ignition systems. Aftermarket sales channel holds a significant share in the market. Asia Pacific is predicted to lead the market, while North America is expected to grow rapidly.

Major vendors in the global vehicle ignition coil market include Robert Bosch Gmbh, Hella Kgaa Hueck & Co., and NGK Spark Plugs. NGK Spark Plugs recently launched MOD Performance Ignition Coils for high-performance vehicles. The market is segmented by type, vehicle, and sales channel. Regions covered include Europe, Asia Pacific, South America, and Middle East & Africa.

Spherical Insights & Consulting provides market research and consulting services to various industries. Their mission is to help businesses achieve their objectives through strategic improvements. For more information on the global vehicle ignition coil market, contact Spherical Insights at +1 303 800 4326 or [email protected]. Visit their website for more details and follow them on LinkedIn, Facebook, and Twitter for updates.



Read more at GlobeNewswire: Global Vehicle Ignition Coil Market Size To Exceed USD