Market Synopsis:
Ignition system in automotive facilitates the conversion of low voltage to high voltage between the car battery and automotive ignition coil. It creates ignition in the compression chamber to move the vehicle. It is a key component of an automobile and is likely to witness rising demand in the years to come. In this observation offered by Market Research Future (MRFR), the global Automotive Ignition System Market is expected to expand at 8.5% over the assessment period. The valuation of the global market is supposed to reach USD 10.8 Bn by 2023.
Automobile ignition system being a crucial auto component is expected to witness exponential growth in demand due to the rising demand for automobiles. Increasing income levels of the population, in conjunction with rising middle-income population, is anticipated to drive the proliferation of the Automotive Ignition System Market Size in the forthcoming years. Also, the investments being made by governments to improve public transportation infrastructure is prognosticated to have a positive influence on the growth of the Automotive Ignition System Market Size across the forecast period.
The Automotive Ignition System Market Size is also expected to benefit from the growth of the automotive aftermarket. The elongated lifespan of the vehicles has led to increasing inclination towards servicing and maintenance. It is presumed to generate demand for ignition systems for automobiles in the upcoming years. In addition, the shift towards electric vehicles is also projected to catalyze market growth rate over the assessment period.
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Market Segmentation:
On the basis of type, the Automotive Ignition System Market Size has been segmented into electronic, conventional, and distributor-less.
On the basis of component, the Automotive Ignition System Market Size has been segmented into ignition coil, condenser, spark plug, ignition switch, ignition resistor, and others.
Regional Analysis:
The regional evaluation of the global Automotive Ignition System Market Size is covered in this MRFR in detail. The regional segments identified for the study are – North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). These segments based on region are further studied on the basis of countries. Asia Pacific is one of the leading segments of the global market. The region is investing massively in the automotive industry, especially in China. This, in turn, is prognosticated to boost the expansion of the Automotive Ignition System Market Size in the region across the forecast period. However, the slowdown of the auto industry in India might have some impact on the regional growth rate of the market.
North America is another major market which is expected to witness demand generation due to its economic development. Increasing demand for automobiles in the region is supposed to drive the growth of the regional market. Europe has a developed automotive industry. The regional market is likely to grow steadily with the developments in the product portfolios of the key players.
Competitive Dashboard:
Delphi Automotive, DENSO, Robert Bosch, Borgwarner, Mitsubishi Electric Corporation, Federal-Mogul Corporation, Continental AG, Diamond Electric, and Hitachi Automotive Systems are few of the prominent players of the global Automotive Ignition System Market Size. These players are assessed in this MRFR report for offering a comprehensive view of the competitive landscape. Investments in regional expansion to capitalize on the potential unleashed by the thriving automotive industry is poised to drive the competition among the players in the Automotive Ignition System Market Size. Also, the key players are conducting research development for enhancing the efficiency of their product lines. This, in turn, is anticipated to fuel competitiveness among the players over the next couple of years. The inorganic growth approaches that are leveraged to capture market share are – collaborations, agreements, partnerships, mergers acquisitions, and alliances, among others.
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Key Questions Addressed by the Report
- What was the historic market size (2020)?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by 2023?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1EXECUTIVE SUMMARY
2SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Continued………
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