Automotive Ignition Coil Market Expected to Grow at a CAGR of 4.5% During 2016 to 2026
Future Market Insights has announced the addition of the “Automotive Ignition Coil Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.
Future Market Insights has announced the addition of the “Automotive Ignition Coil Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.
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<strong>Au<strong>to</strong>motive</strong> <strong>Ignition</strong> <strong>Coil</strong> <strong>Market</strong><br />
Booming Sales <strong>of</strong> EVs & Plug-in Hybrids Curtailing the Demand for <strong>Au<strong>to</strong>motive</strong> <strong>Ignition</strong> <strong>Coil</strong>s<br />
Over the past few years, the adoption <strong>of</strong> electric vehicles (EVs) such as b<strong>at</strong>tery electric vehicle (BEV) and<br />
plug-in hybrid electric vehicles (PHEV) in developed countries such as, North America and Europe has<br />
increased multi-fold. While these developments are being directed for the gre<strong>at</strong>er good <strong>of</strong> harnessing<br />
solar energy <strong>to</strong> power au<strong>to</strong>mobiles, they have incidentally curbed the demand for au<strong>to</strong>motive ignition<br />
coils. Government initi<strong>at</strong>ives, strengthening transport<strong>at</strong>ion infrastructure and decreasing b<strong>at</strong>tery prices<br />
serve as proponents <strong>of</strong> EVs, but also impede the demand for ignition coils as they are not utilized <strong>to</strong><br />
power electric cars.<br />
Future <strong>Market</strong> Insights’ l<strong>at</strong>est report on global au<strong>to</strong>motive ignition coil market projects th<strong>at</strong> increasing<br />
demand for electric vehicles, which do not require ignition coil, will restrain the market <strong>to</strong> grow <strong>at</strong> gre<strong>at</strong>er<br />
pace. The report reveals th<strong>at</strong> the market is presently valued <strong>at</strong> an estim<strong>at</strong>ed US$ 2.46 Bn, and will soar <strong>at</strong><br />
a modest <strong>CAGR</strong> <strong>of</strong> <strong>4.5%</strong> <strong>to</strong> reach US$ 3.8 Bn value by the end <strong>of</strong> <strong>2026</strong>. Nevertheless, leading au<strong>to</strong>makers<br />
in the world will continue <strong>to</strong> count upon au<strong>to</strong>motive ignition coils for improving efficiency <strong>of</strong> their<br />
au<strong>to</strong>motive <strong>of</strong>ferings. Key players th<strong>at</strong> will be actively particip<strong>at</strong>ing in the growth <strong>of</strong> global au<strong>to</strong>motive<br />
ignition coil market include, Denso Corpor<strong>at</strong>ion, Federal-Mogul Corpor<strong>at</strong>ion, NGK Spark Plug Co., Ltd.,<br />
BorgWarner Ludwigsburg GmbH, Valeo SA, Robert Bosch GmbH, Delphi <strong>Au<strong>to</strong>motive</strong> PLC, Hitachi<br />
<strong>Au<strong>to</strong>motive</strong> Systems Americas, Inc., Mitsubishi Electric Corpor<strong>at</strong>ion, Standard Mo<strong>to</strong>r Products, Marshall<br />
Electric Corp, and AcDelco.<br />
Moreover, adoption <strong>of</strong> au<strong>to</strong>motive ignition coils is also expected <strong>to</strong> soar owing <strong>to</strong> their compliance <strong>to</strong><br />
stringent fuel efficiency & emission norms.<br />
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