Transparency Market Research in its new report titled, “Ignition Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the ignition systems market. The TMR report anticipates that the increasing demand for vehicles will drive the ignition systems market during the forecast period i.e, 2018-2026. The automotive industry has developed several technological advancements with respect to low fuel emission and consumption per vehicle. Moreover, stringent government regulations over fuel consumption and emission have boosted the demand for ignition systems across the globe, says the report. In addition, the increasing focus on R&D activities and powertrain systems has created significant opportunity for manufacturers of ignition systems. Furthermore, the rising demand for petrol engine vehicles, increasing income level, and emerging automotive market have boosted the demand for ignition system in the global market. While, the increasing demand for electric vehicle is anticipated to hamper the ignition system market for automotive during the forecast period, as per TMR analyst.
The report has split the global ignition system market for automotive based on type, component, vehicle, sales channel, end-user, and region. On the basis of type, the ignition system market for automotive is classified into battery ignition system, and two other segments. Battery ignition systems are mostly employed in recent vehicles; however, the other segment is still employed in certain automobiles, which require high power such as super cars. In accordance with component, the ignition system market for automotive is categorized into ignition control coil, and six more segments. Based on vehicle, the ignition system market for automotive is classified into passenger vehicle and commercial vehicle. The commercial vehicle segment is expected to continue contributing to the expansion of the ignition system market for automotive during the forecast period. Pick-up, van, and bus & coaches are the major sub-segments of the commercial vehicle segment that employ ignition system components. Based on sales channel, the ignition system market for automotive is split into OEM and aftermarket.
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In terms of regional perspective, the ignition system market for automotive is split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, Asia Pacific is the dominant market for the automotive sector; India, China, and Japan account for a leading share, owing to the increase in production of vehicles in these countries. Furthermore, increase in spending on road infrastructure and rise in manufacturing activities in Asia Pacific are expected to augment the demand for commercial and passenger vehicles. This, in turn, is anticipated to boost the ignition system market for automotive during the forecast period. The major companies operating in the global ignition systems market for automotive are profiled in this report to give a better competitive analysis and these include Delphi Automotive, Robert Bosch, DENSO, BorgWarner, Federal-Mogul Corporation, Mitsubishi Electric Corporation, Continental AG, Hitachi Automotive Systems, and Diamond Electric.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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