Global Spark Plug Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Spark Plug is considered a crucial part of an automobile as electrical energy is transmitted through the Spark Plug during the engine operation. This electrical energy jumps the gap in the plugs firing end if the voltage supplied to the plug is considerably high.

Global Spark Plug Market was valued at USD 3.36 billion in 2021 and is expected to reach USD 5.01 billion by 2029, registering a CAGR of 5.1% during the forecast period of 2022-2029. “Passenger Car” accounts for the largest vehicle type segment in the respective market owing to the high consumer preference for economic vehicles. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

A spark plugs is a vital component that is essential for the functioning of a vehicle engine. These plugs play a vital role in every vehicle that has an internal combustion engine. This automotive component is threaded into the cylinder of a spark-ignition engine. Resistance, ribs, insulator, shell, electrodes, and hex.

Report Scope and Market Segmentation

Spark Plug Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers:

• Growth in the Automotive Industry

The rise in automotive industry across the globe acts as one of the major factor driving the growth of spark plug market. The widespread adoption of spark plugs for electrical, marine and aerospace applications has a positive impact on the market.

• Increased Vehicle Production

The increase in the demand for high performance and reliability of automobiles among consumers accelerate the market growth. The rise in demand for these enhanced vehicles escalate vehicle production.

• Use in Petrol-Based Passenger Vehicles

The extensive use of spark plug in petrol-based passenger vehicles, recreational boats and jet skis, and gasoline and natural gas powered-generators further influence the market. The use of platinum and iridium-based cold spark plugs in high-performance engines for producing minimal carbon emissions assist in the expansion of the market.

Additionally, expansion of the automotive sector, surge in investments and increased disposable income positively affect the spark plug market.

Opportunities

Furthermore, increase in demand for performance cars and commercial vehicles extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in international pressure towards reducing carbon emission further escalate the growth of spark plug market.

Restraints/Challenges faced by the Spark Plug Market

On the other hand, rise in trend of engine downsizing and shifting focus towards electric vehicles are expected to obstruct market growth. Also, maintaining balance between low cost, high performance, and durability of spark and glow plugs is projected to challenge the spark plug market in the forecast period of 2022-2029.

This spark plug market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the spark plug market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

COVID-19 had a Major Impact on Spark Plug Market

The COVID-19 had a negative impact on the spark plug market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for spark plug market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the spark plug market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Recent Developments

• Tenneco introduced the new GOETZE® product line in May’2020 for industrial ignition solutions. These plugs including G-6001, G-6002, G-6003, and G-6004 are specifically designed and manufactured for robust, and reliable service. They offer durability for power generation applications

Global Spark Plug Market Scope

The spark plug market is segmented on the basis of product type, material, sales channel, application, vehicle type and engine layout. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Spark Plugs
  • Hot Spark Plugs
  • Cold Spark Plugs
• Glow Plugs
  • Metal Glow Plug
  • Ceramic Glow Plug

Material

• Copper
• Platinum
• Iridium Spark Plug

Sales Channel

• OEM
• Aftermarket

Application

• Automotive
• Marine
• Industrial
• Other
  • Working Equipment
  • Brush Cutters
  • Scythes
  • Mowers
  • Saws

Vehicle Type

• Passenger Car
• LCV
• HCV

Engine Layout

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

Spark Plug Market Regional Analysis/Insights

The spark plug market is analyzed and market size insights and trends are provided by country, product type, material, sales channel, application, vehicle type and engine layout.

The countries covered in the spark plug market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Asia-Pacific (APAC) dominates the spark plug market because of the expansion of automobile infrastructure in developing countries such as China and India.

Europe is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increased production of gasoline light commercial vehicles (LCVs) in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Spark Plug Market Share Analysis

The spark plug market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to spark plug market.

Some of the major players operating in the spark plug market are

• NGK SPARK PLUG CO.,LTD. (Japan)
• Tenneco Inc. (US)
• BorgWarner Inc (US)
• DENSO CORPORATION. (Japan)
• Robert Bosch GmbH (Germany)
• General Motors (US)
• Valeo (France)
• Delphi Technologies (UK)
• WEICHAI POWER CO.,LTD (China)
• SELPLAN (India)
• Performance Online (POL) (US)
• India YAMAHA Motor Pvt. Ltd. (India)

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