#Automotive #Ignition #Coil #Market #Size #Worth #USD
Pune, India, Oct. 04, 2022 (GLOBE NEWSWIRE) — The global Automotive Ignition Coil Market was USD 10.55 billion in 2020. The global market size is expected gain momentum by reaching USD 13.18 billion by 2028, exhibiting a CAGR of 3.06% during the forecast period from 2021-2028. This information is provided by Fortune Business Insights, in its report, titled, “Automotive Ignition Coil Market, 2021-2028.”
According to our analysts, the factors such rising use of luxury comfort features vehicles and rising demand for improving fuel economy are expected to increase the footprint of the market during the forecast period. Additionally, factors such as constant innovations such as using lightweight materials for productions will boost market growth.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 3.06 % |
| 2028 Value Projection | USD 13.18 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 10.55 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 150 |
| Segments covered | By Type, By Sales Channel, By Vehicle Type and By Region |
| Growth Drivers | Rising Production of Gasoline Powered Vehicles to Augment Growth |
| Asia Pacific to Capture Fastest Growing CAGR due to Favorable Government Initiatives |
COVID-19 Impacts:
COVID-19 Pandemic to Affect Market Heavily due to Production Delays
The COVID-19 pandemic has affected several sectors across the globe and the sector of automotive ignition coil is no different. Imposed lockdowns and economic backlash due to the pandemic has caused a dire impact on the production of ignition coils, which has triggered sales in a negative manner. Movement restrictions and transportation delays have further affected the market causing big projects to be hampered. However, the market is expected to…
Read on GNW: Automotive Ignition Coil Market Size Worth USD 13.18
