sales@fnfresearch.comTel: +91 96043 17127 | USA: 1 (347) 690-0211

Home / All latest News / Global Spark Plug Market

Global Spark Plug Market Projected to Reach USD 3,475 Million by 2026

21-Jul-2021 | Facts and Factors

According to a Facts and Factors report, the global spark plug market was USD 2,689 Million in 2020; further, this revenue is expected to reach around USD 3,475 Million by the end of the year 2026, increasing at a CAGR of around 4.5% from 2021 to 2026.

The manufacturing numbers of vehicles remain constant which results in keep going steady demand for spark plugs in the market globally. As the rise in automobile production increases, the demand for spark plugs is also expected to grow. Many buyers keeping their cars for a longer time. Day by day the life of cars is increased with the technological advancements in the industry, there is an increase in demand for parts substitution. The parts replacement has a positive impact on the demand for spark plugs as well. However, new trends like the introduction of electric cars may result in less demand for spark plugs. As the automotive market for electric vehicles is expected to grow in the upcoming years, the global spark plugs market may witness a decrease in demand for the products. Spark plug generates an electric spark to burn petrol in the vehicle while the engine starts and runs as per speed. Also, the glow plug generates heat to burn diesel in the diesel vehicle to start the engine in cold nature. Spark plugs are integrated in cylinders of gasoline engines while glow plugs are integrated on the cylinder head of the diesel engine.

Request Sample Request Customization Buy Now

Rising demand for fuel-efficient vehicles across the globe and stringent government regulations regarding environmental pollution are the major factors driving the growth of the global spark plug in the case of gasoline engines and glow plug in the case of the diesel engines market. Furthermore, increasing focus on advancement in the new products by major players in the market and technological addition in spark plug and glow plug such as integration of E3 high-performance, plasma core, and ACIS (Advanced Corona Ignition System) in designing of the spark plug are expected to hold the growth of the target market in the future. In addition to that, the increasing number of sales of vehicles across the globe and high demand for fuel-efficient vehicles owing to continuous increasing fuel costs in developing countries such as India are the other factors expected to propel growth of the global spark plug and glow plug market. However, increasing electrification of vehicles, market penetration and government support for electric vehicle penetration are the major factors expected to restrain growth of the global spark plug market. Asia Pacific (APAC) market dominates the global spark plug and glow plug market in terms of revenue contribution as compared to that of other regions. This is mainly assigned to the availability of a large number of manufacturers as well as the high sale of vehicles in countries in the region. Europe reserves for second-largest revenue share contribution to the global spark plug market, followed by markets in North America, Latin America, and the Middle East & Africa respectively. The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 6 years, owing to increasing new car model launches and increasing sales of passenger vehicles in countries in the region.

Top Market Players

Key players in the spark plug market are NGK Spark Plug Co. Ltd., Federal-Mogul Co.,  Borgwarner Inc., Denso Co., Robert Bosch Gmbh, General Motors, Delphi Automotive, Valeo, Weichai Power Co. Ltd., FRAM GROUP IP LLC., Tenneco Inc., Atlas, SELPLAN, Performance Online, India YAMAHA Motor Pvt. Ltd., Magneti Marelli, Holley Performance Products, MICO BOSCH, TVBCO, BHARTI TOOLS Co., and among others.

The spark plug segment is expected to dominate the global market and is projected to retain its dominance over the forecast period

Owing to the increasing sales of passenger cars that run on gasoline/petrol engine is one of the major factors expected to aid in the growth of the market over the forecast period. However, the demand for glow plugs will be increasing in the coming years as the demand for diesel engine vehicles is surging in the forthcoming years. Glow plugs are preferred as it is responsible for reducing the vibrations, noises, and smoke emissions in diesel engines to ensure improved drivability in cold weather, thus meeting the regional emission and other laws as well. Furthermore, the increasing fuel prices and rigid vehicle emission norms, is making a shift in consumer preference for diesel engine powered passenger cars resulting in an increase in the demand for the spark and glow plug.

Asia Pacific region is projected to hold the dominant position in the global spark and glow plug market during the anticipated period

Based on region, the spark plug and glow plug market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific market is expected to dominate the global spark plug and glow plug market in terms of revenue contribution in the global market. The growth of the market is mainly attributed to the availability of a large number of manufacturers, as well as the high sale of vehicles in developing countries of the region such as India, China, Japan, and South Korea are some of the major countries in the spark plugs market. Moreover, the increasing sales of passenger cars in the region are one of the major factors for the growth of the spark plug market in the region. Besides, due to the technology advancement in spark plug and glow plug such as pressure sensor glow plugs for diesel engines is also expected to propel the overall growth of the market over the forecast period.

Browse the full report Spark Plug Market By Type (Hot Spark Plug and Cold Spark Plug), By Material (Copper, Platinum and Iridium), By Vehicle Type (Passenger Car, LCV & HCV, and Others), By Engine Layout (L3, L4, L5, L6, H6, V6, V8, V10 and V12), By Selling Market (OEM and Aftermarket), By Application (Automotive, Marine, Industrial and Others): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/spark-plug-market

The Global Spark Plug Market is segmented as follows:

By Type:

  • Hot Spark Plug
  • Cold Spark Plug

Material:

  • Copper
  • Platinum
  • Iridium

Vehicle Type:

  • Passenger Car
  • LCV & HCV
  • Others

Engine Layout:

  • L3
  • L4
  • L5
  • L6
  • V6
  • H6
  • V8
  • V10
  • V12

Selling Market:

  • OEM
  • Aftermarket

Application:

  • Automotive
  • Marine
  • Industrial
  • Others

By Region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: sales@fnfresearch.com

Latest Added Market Report

3D Machine Vision Market By Component (hardware and Software), By Product Type (Smart Camera-Based and PC Based), By Application (Quality Assurance & Inspection, Positioning & Guidance, Measurement and Identification), and By Industry Vertical (Automotive, Pharmaceuticals & Chemicals, Electronics & Semiconductor, Pulp & Paper, Printing & Labelling, Food & Beverage (Packaging and Bottling), Glass & Metal, Postal & Logistics, and Others): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026

According to a Facts Factors market research report, the global demand for 3D machine vision market stood at about USD 1.59 Billion in 2020; further, this revenue is expected to touch USD 2.84 Billion by year 2026, increasing at a CAGR of around 9.8% from 2021 to 2026. Global 3D Machine Vision Market: Overview With technolog ...

Published Date : 02-Aug-2021 | | Category : Automotive | Pages : 177 | Format : Read more

Packaged Food Market By Product Type (Bakery & Confectionery Products, Beverages, Breakfast Cereals, Dairy Products, Ice Creams & Frozen Novelties, Processed Meats, Ready-to-Eat Meals, Rice, Pasta, & Noodles, Sauces, Dressings, & Condiments, Snacks & Nutritional Bars, and Others), Distribution Channel (Hypermarkets and Supermarkets, Convenience Store, Online Retailers, and Others): The U.S. Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026

According to a research survey released by Facts and Factors Research, the demand for Packaged Food Market in the United States stood at USD 996.6 billion in year 2020 and is projected to cross USD 1268.3 billion by the end of year 2026, rising at a CAGR of nearly 4.10% between 2021 and 2026. U.S. Packaged Food Market: Overview&n ...

Published Date : 02-Aug-2021 | | Category : Food & Beverages | Pages : 172 | Format : Read more

Foldable Electric Scooter Market By Type (Unicycle and Two-wheel), By Load Variation (Maximum Load Below 200 Pounds and Maximum Load 200-250 pounds), By Battery Type (Sealed Lead Acid Battery, Lithium-ion Battery, and Other), By Voltage (24V, 36V, 48V, and Above 48V), By Distribution Channel (E-Commerce and Retail Store), and By End-user (Children and Adult): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026

[223+ Pages Report] As per the research report by the Facts and Factors market, the global foldable electric scooter market generated sales revenue of USD 1.92 Billion in 2020. Further, the foldable electric scooter sales are expected to generate revenue of USD 3.50 Billion by the end of 2026, increasing at a CAGR of around 10.5% from 2021 to 2026. <img src="/Content/UploadedImages/Foldabl ...

Published Date : 30-Jul-2021 | | Category : Automotive | Pages : 223 | Format : Read more

Facts & Factors provides an array of marketing and business research solutions distinctly designed by our expertise for the clients.
Copyright © 2020 Facts & Factors. All Rights Reserved. Sitemap - Privacy Policy - Terms & Conditions