6 Key Prospects on Automotive Ignition Market: Industry Insights and Forecast Till 2022

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Dublin 2, Ireland, 2018-Jan-24 — /EPR Network/ — Fact.MR has recently added a new report to its vast online database. This research study is titled as “Automotive Ignition Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” which presents an in-depth study about the production, consumption, market volume, revenue (million USD) and market share across different geographical regions.

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It will be an understatement to say that the global automotive sector is in the midst of a transformation. Progress in electric and driverless cars has spawned an unprecedented fusion of automotive engineering and technology. In the quest to make next-gen fuel efficient cars, manufacturers are emphasizing on improve automotive ignition systems. Research on developing ignition systems that allow for complete combustion and lower temperature initiation. Focus is also shifting to create ignition systems that enable real-time, in-cylinder diagnostics so that adjustments can be made quickly. As automakers scramble to meet stringent fuel emissions mandates, ignition systems become a key focus area in terms of investment on R&D.

An ignition system produces a spark to ignite a mixture of fuel and air. An ignition system usually comprises battery, spark plugs, ignition coils, distributor, and associated switches. Ignition systems are widely used in the automotive sector.

6 Market Projections on Future of Automotive Ignition Systems during 2017-2022

1.    The report highlights the central significance of Asia-Pacific excluding Japan (APEJ) region in driving the growth of global automotive ignition system market. Countries such as India, South Korea and China are at the forefront of global automobile production, creating a lucrative space for sales of automotive ignition systems in the APEJ market. Through 2022, the APEJ automotive ignition systems market is likely to showcase a speedy growth at robust CAGR, transcending more than US$ 2.4 Bn in revenues.

2.    In 2017, the demand for automotive ignition systems is expected to rise in North America, primarily due to the rising sales of hybrids and EVs, bringing in revenues worth a little over US$ 1.1 Bn.

3.    Expansion of automotive ignition systems market across European countries will be steady. During the forecast period, the automotive ignition systems market in Europe will have soared at a steady CAGR.

4.    In the view of rising preference to passenger cars, manufacturers of automotive ignition systems will shift their focus accordingly. In 2017 and beyond, sales of automotive ignition systems in passenger cars will procure over two-fifth value share on the global market.

5.    Over two-fifth of the global automotive ignition systems market will attain its value through sales of electric ignition systems. Conventional automotive ignition systems, however, are expected to be in demand in the future, and will create an incremental opportunity of more than US$ 400 Mn by 2022 over 2017.

6.    OEMs will be observed as the largest sales channel for automotive ignition systems. In 2017, automotive ignition systems sold by OEMs across the world are likely to rake heavy revenues, which could round up to US$ 3.2 Bn. The report also projects that six out of ten automotive ignition systems sold in the world, during this assessment period, will be used for ignition of gasoline fuel engines.

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Go Green Mantra to have Moderate Impact on Automotive Ignition systems market

Governmental regulations coupled with the prominence of next-gen convergence of technology and automobile companies can impact the automotive ignition systems market. In the developed world, consumers can shift to electric vehicle use exclusively, but this is somewhat challenging in emerging markets on account of poor infrastructure and inadequate power supply. Even though the shift towards green technology has begun in earnest in 2017, it will be a long time before it becomes the norm and not the exception. The global automotive ignition systems market, currently valued at US$ 5.3 billion, is projected to grow at stable CAGR and surpass US$ 7 billion in revenues by 2022.

PC Holds Dominant Revenue Share by Vehicle Type

PC segment is anticipated to grow from over US$ 2.2 billion in 2017 to just under US$ 3 billion by 2022. Currently, the segment accounts for more than two-fifth revenue share of the market. The HCV segment in the automotive ignition systems market is poised to grow to approx. US$ 1.6 billion by 2022, growing at steady CAGR.

Gasoline will Continue to Remain the Preferred Fuel Type

It seems quite unlikely that gasoline will lessen its stranglehold on the automotive ignition systems market as the fuel is preferred by most customers over its ‘dirtier’ counterpart diesel. Gasoline is expected to account for the majority share of the automotive ignition systems market in 2017. As there are only two main fuels in the automotive ignition systems market, petrol’s loss is diesel’s gain which is why the latter is expected to gain traction in the near future.

Electronic Automotive Ignition Systems are the Biggest Portions of the Pie

The electronic segment of the automotive ignition systems market is projected to grow to almost US$ 2.8 billion in 2022, from US$2.1 billion in 2017.Even though electronic segment will lose market share during the forecast period, it will continue to remain attractive. APEJ will continue to remain an attractive market, accounting for over one-third revenue share.

Focus on OEM Channels for Maximum Gains in Automotive Ignition systems market

With a revenue share of nearly two-third, it is hardly surprising that OEM channels account for the lion’s share of the automotive ignition systems market. With a market value predicted to touch US$4.3 billion in 2022, it would be foolhardy to ignore this highly lucrative automotive ignition systems market segment.

 Competition Tracking

The report also profiles key players in the global automotive ignition systems market, which include companies namely, BorgWarner, Delphi Automotive LLP, Denso Corporation, Federal-Mogul, Robert Bosch, CEP Technologies Corporation, Hitachi Automotive Systems Americas, Inc., Continental AG, Wells Vehicle Electronics, Diamond Electric Mfg. Corp, and Valeo.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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