Spark Plug Market By Type (Hot Spark Plug, Cold Spark Plug), By Material (Copper, Platinum, Iridium, Others), By End-Use (Automotive, Marine, Others), By Sales Channel (Original Equipment Manufacturer, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020-2030
Spark plug transmits high voltage electrical energy to ignite the air-fuel mixture in combustion chamber. It also assists in removal of heat from combustion chamber. Spark plugs are used in internal combustion engine driven vehicles, aircrafts, boats, industrial & oil field engines, power mowers, and chain saws. Platinum and iridium spark plugs are used for modern engines, owing to their enhanced performance, durability, reliability, and firing efficiency.
Increase in demand from the marine sector for recreational boats, such as bay or flats boats, cabin cruisers, deck boats, and inboard ski/wakeboard boats drives the growth of the spark plugs industry. Most boats are equipped with one or more than one cylinder gasoline or natural gas-powered engine, which requires a spark plug for its ignition process. Factors, such as compact boat size, change in boat engine technologies, and rise in tourism industry across the globe drive the growth of recreational boat market, which boost the demand for the marine spark plugs.
The market is driven by rise in demand for fuel efficient vehicles, introduction of stringent norms regarding carbon emissions, increase in demand for passenger vehicles in developing nations, and growth in demand for leisure boats & personal watercraft from marine sector. However, rise in adoption of electric vehicles and engine downsizing to reduce weight of vehicles hinder the growth of the global spark plug market. On Contrary, increase in adoption of natural gas-powered vehicles and technological advancements are expected to create lucrative growth opportunities for the global spark plug market.
The report segments the global spark plug market on the basis of type, electrode material, end-use, sales channel, and region. By type, the market is fragmented into hot spark plug and cold spark plug. Depending on electrode material, the market is categorized into copper, platinum, iridium, and others. According to end-use, the market is segmented into automotive, marine, and others. As per the sales channel, the market is segmented into original equipment manufacturer and aftermarket. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
This study presents the analytical depiction of the global spark plug market analysis along with the current trends and future estimations to depict imminent investment pockets.
The overall spark plug market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global spark plug market with a detailed impact analysis.
The current spark plug market is quantitatively analyzed from 2021 to 2030 to benchmark financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Type
Hot Spark Plug
Cold Spark Plug
By Material
Copper
Platinum
Iridium
Others
By End-Use
Marine
Others
Automotive
By Sales Channel
Original Equipment Manufacturer
Aftermarket
By Region
North America
U.S.
Canada
Mexico
Europe
United Kingdom
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Denso Corporation
E3 Spark Plugs
Ford Motor Company
General Motors Company
Marelli Holdings Co., Ltd.
NGK Spark Plug Co., Ltd.
Robert Bosch GmbH
Tenneco Inc.
Valeo S.A.
Weichai Power Co., Ltd.
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