Spark plug Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Spark Plugs Market
The spark plugs market size was valued at USD 1.76 billion in 2023, and the market is now projected to grow from USD 1.82 billion in 2024 to USD 2.18 billion by 2032, exhibiting a CAGR of 2.6% during the forecast period of 2024-2032.
Pandemic appreciably impacted the automotive marketplace, decreasing demand for peripherals like spark and glow plugs. Social distancing norms and lockdowns caused manufacturing deficiency and raw material scarcity, slowed the market financial system, and impacted international supply chains. Travel regulations, decreased production, and lockdown measures further impacted income of car spark plugs. The monetary downturn and financial stress on suppliers impacted their capability to put money into research and development, doubtlessly inflicting delays in technological advancements.
Spark plugs and glow plugs are critical for green fuel combustion in vehicles. The automotive industry's boom, urbanization, and economic improvement power demand for extremely good plugs. Modern engine kinds and strict emission guidelines additionally make contributions to spark plugs market growth. Advances in spark plug generation enhance engine efficiency and reduce emissions, in the main pushed by using the evolution of the automotive enterprise and increasing demand for those additives.
The demand for long-lasting products has brought about the development of latest substances like iridium and platinum. The upward push in hybrid cars calls for distinctive spark plugs, and automakers are that specialize in cleaner-burning engines. Transient Plasma Technology (TPS) launched its Transient Plasma Ignition System in January 2023, that can boom engine efficiency with the aid of 20% and decrease NOx emissions. Plasma-jet ignition, a key automotive innovation, is a key innovation. The aftermarket demand for merchandise has grown as the worldwide fleet increases and the replacement market for older vehicles expands.
Comprehensive Analysis of Spark Plugs Market
The global spark plugs market is primarily composed of spark plugs and glow plugs, with the spark plugs segment holding the largest share in 2022. Modern automobiles primarily use petrol, making spark plugs a significant market presence. The growth of the glow plugs segment is linked to the prevalence of diesel engines in heavy-duty automotive and industrial sectors. The electrode material in the market is divided into copper, platinum, and iridium, with copper dominating due to its high conductiveness, short lifespans, and cost-effectiveness. Iridium is expected to grow at the highest CAGR due to its hardness, high melting point, and excellent durability. The marketplace is split into OEM and aftermarket income channels, with the aftermarket segment experiencing the fastest growth fee due to the want for regular protection and replacement. The -wheeler section, which include motorcycles, scooters, and mopeds, has consistently grown due to manufacturers' cognizance on producing fuel-efficient and environmentally pleasant fashions.
The Asia Pacific region lead the spark plugs market share by benefitting a market size of USD 0.80 billion in 2023 due to robust auto sector in emerging economies like India, Japan, and China, which is primarily driven by the demand for new vehicles and replacement parts.
The main manufacturer is gaining a competitive role within the market through studies and improvement, high-quality production tactics, and meeting evolving needs of automobile producers and purchasers. Key corporations profiled encompass NGK Sparkplug Co. Ltd, BorgWarner Inc., Denso Corporation, Robert Bosch, Federal-Mogul Corporation, General Motors, Autolite, KLG Spark Plugs, Salplan, and Weichai Power Co. Ltd.
MAN Engines added pre-chamber spark plugs for turbocharged natural gas engines in July 2023, enhancing hydrogen admixture efficiency with the aid of up to 20% with the aid of quantity. These plugs are available as an alternative for the MAN E3262, E3268, E0836, and E0834 series, and mandatory for the MAN E3872.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 2.6% from 2023 to 2030
Unit Value (USD Billion)
Segmentation
By Product Type
Spark plugs
Glow plugs
By Electrode Material
Copper
Platinum
Iridium
By Sales Channel
OEM
Aftermarket
By Application
Two Wheelers
Four Wheelers
Passenger Cars
Commercial Vehicles
By Region
North America (By Product Type, By Electrode Material, By Sales Channel, and By Application)
U.S. (By Application)
Canada (By Application)
Mexico (By Application)
Europe (By Product Type, By Electrode Material, By Sales Channel, and By Application)
UK (By Application)
Germany (By Application)
France (By Application)
Rest of Europe (By Application)
Asia Pacific (By Product Type, By Electrode Material, By Sales Channel, and By Application)
China (By Application)
Japan (By Application)
India (By Application)
South Korea (By Application)
Rest of the Asia Pacific (By Application)
Rest of the World (By Product Type, By Electrode Material, By Sales Channel, and By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments – Mergers, Acquisitions and Partnerships
- 4.2. Latest Technological Trend
- 4.3. Porters Five Forces Analysis
- 4.4. COVID-19 Impact
- 5. Global Spark Plugs Market Analysis, Insights and Forecast, 2017-2030
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Product Type
- 5.2.1. Spark plugs
- 5.2.2. Glow plugs
- 5.3. Market Analysis, Insights and Forecast – By Electrode Material
- 5.3.1. Copper
- 5.3.2. Platinum
- 5.3.3. Iridium
- 5.4. Market Analysis, Insights and Forecast – By Sales Channel
- 5.4.1. OEM
- 5.4.2. Aftermarket
- 5.5. Market Analysis, Insights and Forecast – By Application
- 5.5.1. Two Wheelers
- 5.5.2. Four Wheelers
- 5.5.2.1. Passenger Cars
- 5.5.2.2. Commercial Vehicles
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia-pacific
- 5.6.4. Rest of the world
- 6. North America Spark Plugs Market Analysis, Insights and Forecast, 2017-2030
- 6.1. Market Analysis, Insights and Forecast – By Product Type
- 6.1.1. Spark plugs
- 6.1.2. Glow plugs
- 6.2. Market Analysis, Insights and Forecast – By Electrode Material
- 6.2.1. Copper
- 6.2.2. Platinum
- 6.2.3. Iridium
- 6.3. Market Analysis, Insights and Forecast – By Sales Channel
- 6.3.1. OEM
- 6.3.2. Aftermarket
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Two Wheelers
- 6.4.2. Four Wheelers
- 6.4.2.1. Passenger Cars
- 6.4.2.2. Commercial Vehicles
- 6.5. Market Analysis – By Country
- 6.5.1.
- 6.5.1.1.
- 6.5.1.1.1. 6.5.1 U.S.
- 6.5.1.1.1.1.
- 6.5.1.1.1.1.1. 6.5.1.1 – By Application
- 6.5.1.1.2. 6.5.2 Canada
- 6.5.1.1.2.1.
- 6.5.1.1.2.1.1. 6.5.2.1 – By Application
- 6.5.1.1.3. 6.5.3 Mexico
- 6.5.1.1.3.1.
- 6.5.1.1.3.1.1. 6.5.3.1 – By Application
- 7. Europe Spark Plugs Market Analysis, Insights and Forecast, 2017-2030
- 7.1. Market Analysis, Insights and Forecast – By Product Type
- 7.1.1. Spark plugs
- 7.1.2. Glow plugs
- 7.2. Market Analysis, Insights and Forecast – By Electrode Material
- 7.2.1. Copper
- 7.2.2. Platinum
- 7.2.3. Iridium
- 7.3. Market Analysis, Insights and Forecast – By Sales Channel
- 7.3.1. OEM
- 7.3.2. Aftermarket
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Two Wheelers
- 7.4.2. Four Wheelers
- 7.4.2.1. Passenger Cars
- 7.4.2.2. Commercial Vehicles
- 7.5. Market Analysis – By Country
- 7.5.1.
- 7.5.1.1.
- 7.5.1.1.1. 7.5.1 U.K.
- 7.5.1.1.1.1.
- 7.5.1.1.1.1.1. 7.5.1.1 – By Application
- 7.5.1.1.2. 7.5.2 Germany
- 7.5.1.1.2.1.
- 7.5.1.1.2.1.1. 7.5.2.1 – By Application
- 7.5.1.1.3. 7.5.3 France
- 7.5.1.1.3.1.
- 7.5.1.1.3.1.1. 7.5.3.1 – By Application
- 7.5.1.1.4. 7.5.5 Rest of Europe
- 7.5.1.1.4.1.
- 7.5.1.1.4.1.1. 7.5.5.1 – By Application
- 8. Asia Pacific Spark Plugs Market Analysis, Insights and Forecast, 2017-2030
- 8.1. Market Analysis, Insights and Forecast – By Product Type
- 8.1.1. Spark plugs
- 8.1.2. Glow plugs
- 8.2. Market Analysis, Insights and Forecast – By Electrode Material
- 8.2.1. Copper
- 8.2.2. Platinum
- 8.2.3. Iridium
- 8.3. Market Analysis, Insights and Forecast – By Sales Channel
- 8.3.1. OEM
- 8.3.2. Aftermarket
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Two Wheelers
- 8.4.2. Four Wheelers
- 8.4.2.1. Passenger Cars
- 8.4.2.2. Commercial Vehicles
- 8.5. Market Analysis – By Country
- 8.5.1.
- 8.5.1.1.
- 8.5.1.1.1. 8.5.1 China
- 8.5.1.1.1.1.
- 8.5.1.1.1.1.1. 8.5.1.1 – By Application
- 8.5.1.1.2. 8.5.2 Japan
- 8.5.1.1.2.1.
- 8.5.1.1.2.1.1. 8.5.2.1 – By Application
- 8.5.1.1.3. 8.5.3 India
- 8.5.1.1.3.1.
- 8.5.1.1.3.1.1. 8.5.3.1 – By Application
- 8.5.1.1.4. 8.5.4 South Korea
- 8.5.1.1.4.1.
- 8.5.1.1.4.1.1. 8.5.4.1 – By Application
- 8.5.1.1.5. 8.5.5 Rest of Asia Pacific
- 8.5.1.1.5.1.
- 8.5.1.1.5.1.1. 8.5.5.1 – By Application
- 9. Rest of the World Spark Plugs Market Analysis, Insights and Forecast, 2017-2030
- 9.1. Market Analysis, Insights and Forecast – By Product Type
- 9.1.1. Spark plugs
- 9.1.2. Glow plugs
- 9.2. Market Analysis, Insights and Forecast – By Electrode Material
- 9.2.1. Copper
- 9.2.2. Platinum
- 9.2.3. Iridium
- 9.3. Market Analysis, Insights and Forecast – By Sales Channel
- 9.3.1. OEM
- 9.3.2. Aftermarket
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Two Wheelers
- 9.4.2. Four Wheelers
- 9.4.2.1. Passenger Cars
- 9.4.2.2. Commercial Vehicles
- 10. Competitive Analysis
- 10.1. Key Industry Development
- 10.2. Global Market Ranking Analysis (2022)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.5.1. NGK Spark plug Co. Ltd (Japan)
- 10.5.1.1. Overview
- 10.5.1.2. Models & services
- 10.5.1.3. SWOT analysis
- 10.5.1.4. recent developments
- 10.5.1.5. strategies
- 10.5.1.6. financials (based on availability)
- 10.5.2. BorgWarner Inc (U.S.)
- 10.5.2.1. Overview
- 10.5.2.2. Models & services
- 10.5.2.3. SWOT analysis
- 10.5.2.4. recent developments
- 10.5.2.5. strategies
- 10.5.2.6. financials (based on availability)
- 10.5.3. Denso Corporation (Japan)
- 10.5.3.1. Overview
- 10.5.3.2. Models & services
- 10.5.3.3. SWOT analysis
- 10.5.3.4. recent developments
- 10.5.3.5. strategies
- 10.5.3.6. financials (based on availability)
- 10.5.4. Robert Bosch (Germany)
- 10.5.4.1. Overview
- 10.5.4.2. Models & services
- 10.5.4.3. SWOT analysis
- 10.5.4.4. recent developments
- 10.5.4.5. strategies
- 10.5.4.6. financials (based on availability)
- 10.5.5. Federal-Mogul Corporation (U.S.)
- 10.5.5.1. Overview
- 10.5.5.2. Models & services
- 10.5.5.3. SWOT analysis
- 10.5.5.4. recent developments
- 10.5.5.5. strategies
- 10.5.5.6. financials (based on availability)
- 10.5.6. General Motors (A.C. Delco) (U.S.)
- 10.5.6.1. Overview
- 10.5.6.2. Models & services
- 10.5.6.3. SWOT analysis
- 10.5.6.4. recent developments
- 10.5.6.5. strategies
- 10.5.6.6. financials (based on availability)
- 10.5.7. Autolite (U.S.)
- 10.5.7.1. Overview
- 10.5.7.2. Models & services
- 10.5.7.3. SWOT analysis
- 10.5.7.4. recent developments
- 10.5.7.5. strategies
- 10.5.7.6. financials (based on availability)
- 10.5.8. KLG Spark Plugs (U.S.)
- 10.5.8.1. Overview
- 10.5.8.2. Models & services
- 10.5.8.3. SWOT analysis
- 10.5.8.4. recent developments
- 10.5.8.5. strategies
- 10.5.8.6. financials (based on availability)
- 10.5.9. Salplan. (India)
- 10.5.9.1. Overview
- 10.5.9.2. Models & services
- 10.5.9.3. SWOT analysis
- 10.5.9.4. recent developments
- 10.5.9.5. strategies
- 10.5.9.6. financials (based on availability)
- 10.5.10. Weichai Power Co. Ltd. (China)
- 10.5.10.1. Overview
- 10.5.10.2. Models & services
- 10.5.10.3. SWOT analysis
- 10.5.10.4. recent developments
- 10.5.10.5. strategies
- 10.5.10.6. financials (based on availability)
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