Ignition Coil Market

The global market for distributors and ignition coils is projected to see a steady increase in demand over the next eight years, with an anticipated CAGR of +2.9% and a market value of $3.3B by 2030. Despite a slight decline in consumption in 2022, the market has shown overall growth in both volume and value terms over the past decade. The United States, China, and India lead in consumption volume, while China dominates in production. Import and export trends also reveal shifts in market dynamics, with China and Japan emerging as key exporters. Overall, the market is poised for continued growth driven by increasing demand worldwide.

Market Forecast

Driven by increasing demand for distributors and ignition coils worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 347M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $3.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Distributors And Ignition Coils

Global ignition coil consumption reduced modestly to 277M units in 2022, declining by -4.3% on 2021. The total consumption volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 294M units in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global ignition coil market size dropped to $2.2B in 2022, with a decrease of -9.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $2.4B in 2021, and then reduced in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (48M units), China (33M units) and India (21M units), with a combined 37% share of global consumption. Russia, Mexico, Brazil, Indonesia, Germany, Turkey, Canada, Italy, Singapore and Malaysia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Singapore (with a CAGR of +56.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($355M) led the market, alone. The second position in the ranking was held by China ($154M). It was followed by Russia.

In the United States, the ignition coil market expanded at an average annual rate of +2.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+0.6% per year) and Russia (+2.3% per year).

In 2022, the highest levels of ignition coil per capita consumption was registered in Singapore (1,007 units per 1000 persons), followed by Canada (170 units per 1000 persons), the United States (144 units per 1000 persons) and Malaysia (130 units per 1000 persons), while the world average per capita consumption of ignition coil was estimated at 35 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the ignition coil per capita consumption in Singapore stood at +55.7%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Canada (-2.8% per year) and the United States (+2.8% per year).

Production

World Production of Distributors And Ignition Coils

In 2022, approx. 309M units of distributors and ignition coils were produced worldwide; waning by -5.1% against 2021. The total output volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 31% against the previous year. Global production peaked at 326M units in 2021, and then declined in the following year.

In value terms, ignition coil production declined slightly to $2.3B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16% against the previous year. Over the period under review, global production hit record highs at $2.4B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of ignition coil production was China (129M units), comprising approx. 42% of total volume. Moreover, ignition coil production in China exceeded the figures recorded by the second-largest producer, Japan (29M units), fourfold. The third position in this ranking was held by Turkey (29M units), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +3.1%. The remaining producing countries recorded the following average annual rates of production growth: Japan (-0.5% per year) and Turkey (+27.8% per year).

Imports

World Imports of Distributors And Ignition Coils

In 2022, purchases abroad of distributors and ignition coils increased by 0.9% to 239M units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. Global imports peaked at 245M units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, ignition coil imports shrank to $2B in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Over the period under review, global imports reached the peak figure at $2.2B in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, the United States (71M units) represented the key importer of distributors and ignition coils, constituting 30% of total imports. Mexico (23M units) took a 9.5% share (based on physical terms) of total imports, which put it in second place, followed by Germany (5.3%). Thailand (8.5M units), China (8M units), Brazil (7.7M units), Singapore (7M units), Canada (6.8M units), Italy (6.8M units), Russia (5.6M units), the UK (5.4M units), India (4.9M units) and Malaysia (4.8M units) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ignition coil imports into the United States stood at +2.5%. At the same time, Italy (+12.6%), India (+12.1%), Russia (+8.6%), Thailand (+5.5%), Singapore (+4.1%) and Germany (+1.9%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in the world, with a CAGR of +12.6% from 2012-2022. Brazil experienced a relatively flat trend pattern. By contrast, the UK (-1.2%), Canada (-2.1%), Malaysia (-2.6%), Mexico (-4.7%) and China (-6.9%) illustrated a downward trend over the same period. The United States (+2.6 p.p.) and Italy (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while China and Mexico saw its share reduced by -4.6% and -8.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($510M) constitutes the largest market for imported distributors and ignition coils worldwide, comprising 25% of global imports. The second position in the ranking was held by Mexico ($174M), with an 8.6% share of global imports. It was followed by Germany, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +1.5%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-2.3% per year) and Germany (-0.5% per year).

Import Prices By Country

In 2022, the average ignition coil import price amounted to $8.4 per unit, declining by -6.2% against the previous year. Over the period under review, the import price showed a mild contraction. The pace of growth was the most pronounced in 2014 an increase of 6.1% against the previous year. As a result, import price attained the peak level of $10 per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($13 per unit), while Singapore ($1.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.7%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Distributors And Ignition Coils

Global ignition coil exports shrank slightly to 271M units in 2022, flattening at 2021. The total export volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when exports increased by 28%. Over the period under review, the global exports reached the peak figure at 283M units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ignition coil exports contracted modestly to $2B in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 26%. As a result, the exports reached the peak of $2.1B, and then dropped slightly in the following year.

Exports By Country

China was the key exporting country with an export of around 104M units, which amounted to 38% of total exports. Japan (30M units) held the second position in the ranking, followed by Turkey (23M units), the United States (23M units), Mexico (15M units) and Thailand (13M units). All these countries together held approx. 38% share of total exports. Germany (8.3M units), Brazil (7.6M units), Italy (6.4M units), Poland (6.3M units) and India (5.5M units) held a little share of total exports.

Exports from China increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Turkey (+58.9%), Thailand (+21.3%), Poland (+16.6%), India (+11.0%), Italy (+3.8%), Brazil (+2.2%) and Japan (+1.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +58.9% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Mexico (-1.4%) and Germany (-9.0%) illustrated a downward trend over the same period. Turkey (+8.4 p.p.), China (+6.3 p.p.), Thailand (+3.9 p.p.) and Poland (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Mexico and Germany saw its share reduced by -1.6% and -5.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($553M) remains the largest ignition coil supplier worldwide, comprising 28% of global exports. The second position in the ranking was taken by Japan ($275M), with a 14% share of global exports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +7.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.4% per year) and the United States (-0.6% per year).

Export Prices By Country

The average ignition coil export price stood at $7.3 per unit in 2022, with a decrease of -4.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. As a result, the export price attained the peak level of $8.2 per unit. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($21 per unit), while Thailand ($2.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform