Quick Summary:
In the expansive realm of the global automotive industry, the automotive ignition cable market finds pivotal utility and significant growth potential. Driving its growth are major factors including the surge in installation of electronic components in vehicles, higher manufacturing and sales of passenger and commercial vehicles, and stringent vehicle emission regulations. The ignition cable market presents a strategic investment opportunity, promising sustainable growth tied to the continual evolution and maturation of the automotive sector.
Ignition cables, tasked with connecting ignition coil or distributor to spark plugs, play an essential role in the functioning of a vehicle. Increasing preference for private vehicle ownership and the introduction of cost-effective, high-performance passenger cars are fueling a rise in demand for these components. Moreover, the surge in need for high-speed commercial vehicles, owing to flourishing e-commerce industry and bolstering international trade activities, is simultaneously augmenting the market's growth trajectory.
In a rapidly advancing technological milieu, significant R&D investments are made towards next-gen engine designs, which necessitate unique ignition systems. High prevalence of Internal Combustion Engine (ICE) vehicles and stringent gas emission norms fuel the development of advanced ignition systems. Subsequent advancements in ignition cables for improved durability, lowered cost and enhanced performance proves highly advantageous to the market. These elements collectively create a promising environment for the growth of the global automotive ignition cable market.
The Rise in the Installation of Electronic Components in Automobiles Increased Production and Sales of Passenger Cars and Commercial Vehicles, and Stringent Government Regulations Regarding Vehicle Emission are the Primary Factors Driving the Growth of the Global Automotive Ignition Cable Market in
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Ignition cable in automobiles is used to connect ignition coil or distributor to the spark plugs. The end of ignition cables is attached with clips to connect it with a spark plug to prevent the ignition cables from becoming loose with engine vibration. Combustion or starting of the engine requires the supply of high voltage spark which travels through these ignition cables.
Rise In Demand for Passenger Car and Commercial Vehicle Drives Market Growth
Total vehicle production in the world in 2020 was 77.62 million. Growing income capacity of consumers, rapid shift in preference for private vehicle ownership, and introduction of affordable, high-performance passenger cars are driving the demand for passenger cars around the globe. Ignition cable is used in automobiles to connect spark plug to the ignition coil, and therefore, with the bolstering demand for passenger cars, the demand for ignition cables is expected to witness steady growth in the forecast period. The United States presents lucrative opportunities for the global automotive ignition cable market growth due to the presence of well-developed technical infrastructure and high demand for advanced passenger cars in the country.Ongoing trade activities, the flourishing e-commerce industry, and efforts to strengthen the major automotive companies' supply chain and distribution channels are responsible for the surge in demand for high-speed commercial vehicles worldwide. Rapid industrialization, infrastructure development, and construction activities accelerate the production and sale of commercial vehicles. With the high demand and production and sales of commercial vehicles, the demand for the global automotive ignition cable market is expected to grow in the forecast period.
Oncoming and Upcoming Technological Advancement Supports Market Growth
Spark plugs are extensively used in petroleum-based automobiles. The ignition cable plays a major role in starting the automobile. High sales of ICE engine automobiles are expected to surge the demand for global automotive ignition cable market growth in the forecast period. Implementing stringent norms and regulations to curb global warming and reduce the carbon footprint into the environment is accelerating the development of advanced gasoline engines with higher fuel mileage and low emission capability. High-end investments by the market players in research and development activities to make next-generation engines by doing design modifications that require unique ignition systems. Development of advanced ignition systems and automobiles and increased focus of manufacturers on improving durability, low cost, and high performance of spark plugs and ignition cables are expected to create lucrative opportunities for the global automotive ignition cable market growth in the next five years.Market Segmentation
The global automotive ignition cable market is segmented based on vehicle type, propulsion, demand category, regional distribution, and company. Based on the vehicle type, the global automotive ignition cable market is divided into two-wheeler, passenger car, light commercial vehicle (LCV), medium & heavy commercial vehicle (M&HCV), and OTR. Based on fuel type, the global automotive ignition cable market is divided into petrol/CNG, diesel, and others. Based on the demand category, the global automotive ignition cable market is divided into OEM and aftermarket. To analyze the market based on the region, the global automotive ignition cable market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East and Africa.Market Players
Continental AG, Robert Bosch GmbH, Knott Brake Co, Cook Bonding & Manufacturing Co., Inc., and Phoenix Friction Products, are among the major market players in the global platform that lead the market growth of the global automotive ignition cable market.Report Scope:
In this report, global automotive ignition cable market has been segmented into following categories, in addition to the industry trends which have also been detailed below:Automotive Ignition Cable Market, By Vehicle Type:
- Two-Wheeler
- Passenger Car
- Light Commercial Vehicle (LCV)
- Medium & Heavy Commercial Vehicle (M&HCV)
- OTR
Automotive Ignition Cable Market, By Fuel Type:
- Petrol/CNG
- Diesel
- Others
Automotive Ignition Cable Market, By Demand Category:
- OEM
- Aftermarket
Automotive Ignition Cable Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Belgium
- Russia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global automotive ignition cable market.Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.This product will be delivered within 1-3 business days.
Table of Contents
Companies Mentioned
A selection of companies mentioned in this report includes:
- The NGK Spark Plug Co., Ltd.
- Denso Corporation
- Robert Bosch GmbH
- BorgWarner Inc.
- Prysmian Group
- Sentech Limited
