Spark Plugs - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Spark Plug Market is expected to grow at a CAGR of 7.4% during the forecast period. Increase in production and sales of vehicle globally & rise in number of gasoline or natural gas-powered generators and small & recreational boats are some of the factors influencing the market growth. However, engine downsizing to reduce vehicle weight & growing penetration of electric vehicle & electrically powered working equipment are the factors restricting the market. In addition, advancement in technology & increase in demand for natural gas-powered vehicle provides ample opportunities for the market growth.
Spark Plug is an integral component in an engine, and it performs an important function of producing sparks that are necessary to ignite the mixture of air and fuel in the engine. There is different type of spark plugs, such as platinum spark plugs, iridium spark plug, and copper spark plug, in the market. A spark plug is an initiator of the ignition process, which provides the power to run a vehicle. The primary function of a spark plug is to provide the spark, and its secondary function is to dispel heat. On the source of temperature, spark plugs can also be classified as hot spark plugs and cold spark plugs.
Amongst Plug Type, the Spark Plugs segment held significant market share due to rising demand for hot spark plugs and cold spark plugs. Cold spark plugs have a smaller amount insulation and transfer more heat away from the combustion chamber to the outside of an engine and are frequently found in high-compression engines. Hot spark plugs have more insulation and are found in the majority of standard engines.
By Geography, Asia Pacific region is anticipated to register the highest market growth during the forecast period. Countries such as China and India are the major contributors to the growth of automotive spark & glow plug market in Asia-Pacific region.
Some of the key players in the global Spark Plugs market include, Brisk Company, Valeo S.A Klaxcar France, Denso Corporation, Torch Group, Federal-Mogul Corporation, Robert Bosch GmbH, Enerpulse Technologies, Inc., Hella KGaA Hueck & Co., Holley Performance Products, NGK Spark Plugs, ACDelco, Stitt Spark Plug Company, Weichai Power Co., Ltd and Magneti Marelli S.p.A.
Plug Types & Aftermarket Covered:
• Spark Plugs
• Glow Plugs
Vehicle Types Covered:
• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Cars
Electrode Materials Covered:
End Users Covered:
• Other End Users
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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