Pune, India, Oct. 04, 2022 (GLOBE NEWSWIRE) — The global Automotive Ignition Coil Market amounted to USD 10.55 billion in 2020. The global market size is expected to gain momentum by reaching USD 13.18 billion by 2028, showing a CAGR of 3.06% during the forecast period of 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 as increasing usage of vehicles with luxury comfort equipment and increasing demand for fuel economy improvement are expected to increase the presence of the market over the forecast period. Additionally, factors such as constant innovations such as the use of lightweight materials for production will boost the market growth.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-ignition-coil-market-106414
Report Highlights:
| report coverage | details |
| forecast period | 2021-2028 |
| Forecast period 2021 to 2028 CAGR | 3.06% |
| Value prognosis 2028 | $13.18 billion |
| base year | 2020 |
| Market size in 2020 | $10.55 billion |
| Historical data for | 2017-2019 |
| number of pages | 150 |
| segments covered | By type, by sales channel, by vehicle type and by region |
| growth accelerator | Increasing production of gas powered vehicles to boost growth |
| Asia Pacific will achieve the fastest growing CAGR due to favorable government initiatives |
Effects of COVID-19:
COVID-19 pandemic will severely affect the market due to production delays
The COVID-19 pandemic has affected multiple sectors around the world and the automotive ignition coil sector is no different. Imposed lockdowns and economic backlash from the pandemic have wreaked havoc on ignition coil production, negatively impacting sales. Movement restrictions and transport delays have further affected the market and hampered large projects. However, the market is expected to revive due to the easing of previously imposed restrictions and the opening up of global trade…
