Automotive Ignition System Market Overview:

The global automotive ignition system market is expected to exhibit a strong 8.5% CAGR over the forecast period till 2023, according to the latest research report from Market Research Future (MRFR). The global automotive ignition system market is expected to reach a valuation of USD 10.8 billion by 2023, according to the report.

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Automotive ignition systems are used in automobiles and motorcycles to ignite the fuel-air mixture in the engine and initiate operation of the engine. Automotive ignition systems play a crucial role in automotive operations, as smooth ignition is crucial to clean burning of the fuel-air mixture. In order for the engine to operate smoothly, the timing of the spark from the ignition system needs to be perfect. The growing automotive industry has been the major driver for the global automotive ignition system market. Growing demand for passenger cars has driven the demand for automotive ignition systems in recent years. Growing purchasing power of consumers in emerging countries has driven the automotive industry at a robust growth rate in recent years, as more and more consumers have purchased automobiles in recent years. The growing demand for the convenience offered by passenger cars, which allow the user to protect themselves from rain and other environmental factors, is likely to drive the passenger car industry in the coming years, thus leading to a growing demand for automotive ignition systems.

The commercial vehicles industry has also rapidly expanded in the last few years, as growing urbanization and industrialization in emerging regions has driven the demand for commercial vehicles such as lorries and tractors. The growing demand for long-distance shipping of various commodities through roadways has led to a growing demand for lorries and other commercial vehicles. Technological advancement in commercial vehicles has led to a new generation of commercial vehicles equipped with the latest in safety and entertainment features, enabling a smooth, hassle-free ride for the driver. The growing demand for agricultural vehicles is also likely to be a major driver for the global automotive ignition system market over the forecast period. The agriculture industry has grown rapidly over the last few years due to the growing demand for food from various regions across the world. Growing mechanization in the agriculture industry in developing regions such as Asia Pacific and Latin America has also been a major driver for the demand for agricultural vehicles. This is likely to be a major driver for the automotive ignition system market over the forecast period.

On the other hand, the growing demand for electric vehicles and diesel vehicles is likely to hamper the global automotive ignition system market over the forecast period. Electric vehicles do not require ignition systems, and the demand for electric vehicles is growing due to their environmental benefits. Diesel vehicles are also rising in demand due to their higher mileage. This is likely to remain a key restraint on the global automotive ignition system market over the forecast period.

Regional Analysis:

Asia Pacific is the leading revenue generator in the global automotive ignition system market and is likely to retain this position over the forecast period due to the growing automotive industry in the region. The growing demand for commercial vehicles in Asia Pacific is also a major driver for the global automotive ignition system market over the forecast period.

Competitive Leader board:

Leading players in the global automotive ignition system market include Diamond Electric, Hitachi Automotive Systems, Continental AG, Mitsubishi Electric Corporation, Federal-Mogul Corporation, Borgwarner, Denso, Robert Bosch, and Delphi Automotive.

Segmentation:

The global automotive ignition system market is segmented on the basis of type, component, and region.

By type, the global automotive ignition system market is segmented into conventional, electronic, and distributor-less. The conventional and electric automotive ignition systems are likely to dominate the global automotive ignition system market over the forecast period.

By component, the global automotive ignition system market is segmented into ignition coil, ignition switch, condenser, spark plug, ignition resistor, and others.

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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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