Spark and Glow Plug Market are anticipated to worth USD 3,803 million by 2025
Published | April 2019
According to BlueWeave Consulting, the Global Spark And Glow Plug Market are anticipated to worth USD 3,803 million by 2025, with a CAGR of 5.9% during 2019-2025. The Global Spark And Glow Plug Market are growing at promising growth rates over the forecast period, which is influenced by many factors, such as increasing automotive production, governments’ stringent emission norms, and growing demand for higher fuel efficiency. The spark is designed to fit in each cylinder of a gasoline-powered internal-combustion engine to produce the electric spark for ignition of the air-fuel mixture.
In contrast, the glow plug is fitted into each cylinder of a diesel engine, along with a heating element to heat incoming fuel and air to ensure efficient combustion when the engine is cold.
Moreover, technological advancements and innovation, like E3 high-performance, plasma core, and ACIS (Advanced Corona Ignition System) in designing spark plugs, are the key factors responsible for the growth of spark and glow plug market in coming years. Furthermore, increasing replacement interval for spark plugs and engine downsizing along with the business expansion and collaboration by prominent players with technology providers are some of the ongoing trends in the emerging market. Besides, manufacturers are making long-term contracts with suppliers to reduce production costs is another factor that will fuel the growth of the global spark and glow plug market over the forecast period. Additionally, the anticipated entrance of major automotive OEMs in the emerging market is expected to drive the growth of the market during the forecast period.
Spark plug segment is projected to hold the dominant position in the global spark and glow plug market during the anticipated period.
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 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.
Key Developments in the Market
January 2017: NGK spark plug Europe launched five new ignition coils and boosted the number of applications for cars from PSA and GM
Browse Detailed Analysis with TOC, “Global Spark And Glow Plug Market Size, By Product Type (Spark Plug-Hot & Cold, Glow Plug-Metal & Ceramic), By Application (Passenger Vehicle, Light And Heavy Commercial Vehicle), By Distribution Channel (OEM & Aftermarkets), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Market Trend Analysis, Competitive Analysis, Size And Forecast, 2015-2025”
Global Spark and Glow Plug Market: Competitive Landscape
The key players operating in the global Spark Plugs market include NGK Spark Plug Co. Ltd, Federal-Mogul Corporation, Borgwarner Inc, Denso Corporation, Robert Bosch Gmbh, General Motors, Delphi Automotive, Valeo, Weichai Power Co. Ltd., and UCI-Fram Auto brands. Major Key Players are focused on organic and inorganic strategies such as merger & acquisition, and new product launches to enhance their business and product.