Global Ignition Magneto Market 2024

Ignition Magneto Market Size

After two years of decline, the global ignition magneto market increased by 7% to $X in 2021. Over the period under review, consumption, however, continues to indicate a mild decrease. Global consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Ignition Magneto Production

In value terms, ignition magneto production rose to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2014 with an increase of 6.6% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, global production growth failed to regain momentum.

Ignition Magneto Exports

Exports

In 2021, the amount of ignition magnetos, magneto-dynamos and magnetic flywheels exported worldwide skyrocketed to X units, with an increase of 18% on 2020 figures. The total export volume increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 30% against the previous year. Over the period under review, the global exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, ignition magneto exports soared to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporter of ignition magnetos, magneto-dynamos and magnetic flywheels in the world, with the volume of exports finishing at X units, which was near 46% of total exports in 2021. India (X units) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Italy (14%). Croatia (X units), Indonesia (X units), Mexico (X units), Cambodia (X units) and Thailand (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ignition magneto exports from China stood at +7.7%. At the same time, Mexico (+47.5%), India (+9.2%), Indonesia (+8.1%) and Italy (+4.6%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +47.5% from 2012-2021. Croatia experienced a relatively flat trend pattern. By contrast, Thailand (-10.2%) and Cambodia (-23.7%) illustrated a downward trend over the same period. While the share of China (+15 p.p.), India (+5.9 p.p.), Mexico (+2.9 p.p.), Cambodia (+2 p.p.) and Italy (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Thailand (-3.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ignition magneto supplier worldwide, comprising 32% of global exports. The second position in the ranking was taken by India ($X), with a 9.2% share of global exports. It was followed by Italy, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +8.3%. In the other countries, the average annual rates were as follows: India (+5.3% per year) and Italy (+1.2% per year).

Export Prices by Country

In 2021, the average ignition magneto export price amounted to $X per unit, picking up by 11% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Cambodia ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+40.7%), while the other global leaders experienced more modest paces of growth.

Ignition Magneto Imports

Imports

In 2021, after two years of decline, there was significant growth in overseas purchases of ignition magnetos, magneto-dynamos and magnetic flywheels, when their volume increased by 45% to X units. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ignition magneto imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X units), distantly followed by Indonesia (X units), Italy (X units), Thailand (X units), Brazil (X units) and the Netherlands (X units) represented the major importers of ignition magnetos, magneto-dynamos and magnetic flywheels, together achieving 66% of total imports. Mexico (X units), Vietnam (X units), Bangladesh (X units), India (X units), Germany (X units), China (X units) and Japan (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to ignition magneto imports into the United States stood at +7.1%. At the same time, Japan (+49.9%), Bangladesh (+42.4%), Thailand (+22.4%), China (+11.3%), Vietnam (+7.1%), Indonesia (+7.1%) and the Netherlands (+3.3%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in the world, with a CAGR of +49.9% from 2012-2021. By contrast, Italy (-3.6%), Mexico (-4.0%), India (-4.5%), Germany (-8.8%) and Brazil (-12.3%) illustrated a downward trend over the same period. While the share of the United States (+11 p.p.), Thailand (+5.3 p.p.), Indonesia (+5.1 p.p.) and Bangladesh (+2.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of India (-1.5 p.p.), Mexico (-2.1 p.p.), Germany (-3.3 p.p.), Italy (-4.7 p.p.) and Brazil (-14.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 40% share of global imports. These countries were followed by Italy, Mexico, Germany, the Netherlands, Vietnam, Brazil, China, Bangladesh, Japan and India, which together accounted for a further 32%.

In terms of the main importing countries, Bangladesh, with a CAGR of +36.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average ignition magneto import price amounted to $X per unit, which is down by -13.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 6.3%. Global import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Germany ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+9.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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