Electronic Ignition Modules Market is anticipated to witness growth of 3% to 4% in forecast period.
According to research analyst, Electronic Ignition Modules Market is predicted to witness continuous growth in the next decade i.e. 2021-2031. Demand for electronic ignition module will witness balanced recovery in short term, with optimistic growth outlook in the long run.
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Increasing prominence of electronic ignition module in motorsport and racing
Electronic ignition module play a significant role in race bikes & cars as they help for the proper timing in the spark plug ignition. Besides, this modules in race cars are usually replaced to increase the performance of the engine. This is bolstering the demand for electronic ignition modules in the market.
Over the period, rising concern for motor sports competition events such as asphalt, drag racing, and dirt track racing, among others, is expected to increase demand for electronic ignition module around the world.
Racing is crucial for these type of racing vehicle & bikes because it provides better performance in the ignition. Thus it is anticipated to have a substantial growth in the global electronic ignition module market. There are major motor sports events held in North America, China, Europe in last couple years.
East Asia Electronic Ignition Module Market Outlook
East Asia is expected to surge at a higher growth rate in the global electronic ignition module market owing to the prominent growth in automotive industry market in this region. This region is expected to witness significant growth in upcoming years due to rapid rise in the electronics in automobiles.
South Korea who is world’s third prime electronics manufacturing powerhouse in the world is also anticipated to have a notable contribution in the global market in terms of value and volume market share followed by China.
Growing electrification in vehicles in East Asia region is also pushing the growth of the global electronic ignition module market. Further, growing attention of to have a proper timing in the ignition to avoid any further damages to the engine, modules likely to get adopted, expected to offer more opportunities for gain further sales.
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South Asia Pacific Electronic Ignition Module Market Outlook
South Asia Pacific is estimated to be one of the fastest growing region globally. Though, adoption of gasoline vehicles is in the good pace across this region. India to grow at high growth rate in the global electronic ignition module market owing to the high fleet of automobiles in this country.
Also, substantial increase in racing bike sales across this region is expected to propel the consumption. Likely aim to increase the organic growth from the manufacturers in electronic ignition module market is expected to boost the South Asia & Pacific electronic ignition module market.
Who are the Key Manufacturers and Suppliers of Electronic Ignition Modules?
Some of the leading manufacturers and supplier of Electronic Ignition Modules includes
- Rotary Corp.
- Strattec Security Corporation
- PerTronix.
- Dynatek High Performance Electronics
- Holley Performance Products Inc.
- Bosch Engineering GmbH
- Others.
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