Automotive Ignition System Market Size, Share, Growth Analysis, By Component (Ignition Coil, Spark Plug), By Engine Type (Gasoline, Diesel), By Ignition Type, By Vehicle Type, By Sales Channel, By Region - Industry Forecast 2024-2031

Global Automotive Ignition System Market size was valued at USD 12.8 billion in 2022 and is poised to grow from USD 13.7 billion in 2023 to USD 22.3 billion by 2031, growing at a CAGR of 6.3% during the forecast period (2024-2031). 

An increase in worldwide automotive sales and increasing production of automobiles positively affects the sales of combustion engines. While the recent economic downturn has continued, the global automotive industry has enjoyed satisfactory growth.

This is especially true in emerging economies, where vehicle production is expected to be higher compared to developed countries. Increasing urbanization, rising per capita income, and increasing living standards in these emerging countries are also playing an important role in market growth.

The demand for combustion engines is expected to increase with the increasing demand for vehicles across the globe. Currently, however, the demand for cars is growing at a slower pace due to various factors.

The primary factor affecting car sales and production in each country is the US and a China trade war, as a result of which the firecracker program is likely to develop slowly shortly.

Increasing average vehicle life expectancy has sped up maintenance and repair work, including replacing their ignition coils. As the number of miles driven increases, so does the replacement of ignition coils, further increasing the demand for the automotive ignition coil market in the aftermarket segment.

Another factor is per capita income, which varies from country to country and can affect the average age of vehicles. The average age of cars is increasing even though the US, China, India, and some European countries such as France and Germany see higher per capita incomes, with cars estimated to last 10 years for passenger cars and 11-14 years for commercial.