The Latics have enjoyed a productive summer in the transfer market, bringing in several fresh faces and keeping the likes of James McCarthy and Shaun Maloney out of the clutches of a rival club.
They are expected to be among the promotion chasers in the Championship, with Coyle charged with the task of guiding the club back into the Premier League at the first time of asking.
If he is to succeed in that challenge, the Scot acknowledges that he will need strength in numbers.
Coyle told Sky Sports News: "We're always open to try and add to our squad.
"We want a squad that has strength in depth and means that if we get one or two niggling injuries we can replace quality with quality. That's what we're trying to build here at Wigan Athletic.
"Our eyes and ears are always on the transfer market to see if we can add to the squad."
It has been suggested that Powell is among those Wigan may look to land on loan, but Coyle is reluctant to reveal the identity of those on his wish list.
He added: "Nick Powell is a fantastic player, but it's not for me to be speaking about Manchester United's players.
"We're in the market to try and add quality to the squad and we'll see where the next couple of weeks take us."