- Ignition Plug
- Spark plug
- Glow plug
- Ignition Coil
- Ignition Control Module
Automotive Ignition Parts Market size was valued at USD 6.8 billion in 2022 and is expected to reach USD 14.2 Billion by 2029, growing at a 9.8% CAGR from 2023 to 2029. Automotive ignition parts are the ignition system that generates a spark or heat on the medical electrodes to a high temperature to ignite the fuel-air mixture in spark ignition in an internal combustion chamber.The automotive ignition parts market is growing market the demand for the vehicle is increasing day by day. Various components like ignition plug, spark plug, glow plug, ignition coil, ignition control module, and the crankshaft is to be sold differently from the vehicle other than that the Automotive ignition parts are used in the light commercial vehicle, heavy commercial vehicle, and others which result in the increase in the demand for ignition parts. The rise in the sales of automobiles globally and the increase in the number of commercial vehicle sales results increase in the demand for ignition coil in the market. The increase in the repair activity of vehicle increases the life of the vehicle, and the replacement of ignition coils increases which further boost the demand of the Automotive ignition parts market, which provides an opportunity to the key players to expand their business in this segment.
Automotive Ignition Parts Market Key Developments:
In June 2022, Transient Plasma Systems launched the “Transient plasma Ignition system” for internal engine combustion.
Fastest Growing Market
The increasing number of engine combustion problems across the world is the major market driver in the automotive ignition parts market during the forecast period. A fuel-air mixture is used to start ignition in the engine, increase in the number of sales of automobiles globally is estimated a projected increase in ignition parts. Repair of the vehicle or replacement of the ignition coil results in demand for ignition coils in the market. the number of environmental concerns the government initiates are some of the major factors driving the growth of electric vehicles in the market.
The automotive ignition parts market was valued at USD 6.8 billion in 2022 and is anticipated to reach USD 14.2 Billion by 2029, growing at an 9.8% CAGR from 2023 to 2029.
The leading players in the automotive ignition parts market are; Denso Corporation, Hitachi Automotive Systems, Diamond electric holdings, Bosch Limited, Marshall Electric Corporation, NGK spark Plug Limited, Delphi Automotive PLC, Mitsubishi Corporations, Standard motor products, Valeso SA
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation, and Seven years forecast is presented from 2023 – 2029.