Spark Plug

Spark Plug

A spark plug also known as a sparking plug, is a tool that suits the cylinder head of an inner-combustion engine and contains two electrodes separated with the aid of an air gap, across which current from a high-tension ignition gadget discharges, to shape a spark for igniting the air–fuel mixture. The spark plug has two primary functions to ignite the air/fuel mixture and to remove heat from the combustion chamber.

The Spark Plug Market is expected to grow at a steady rate of around 4% owing to the increasing production and sales of cars. With the emergence of new technologies, engines are becoming more complex. The recent era is witnessing a sharp growth in urban life and the growth brought the need for high mobility and drastic changes in the transportation system. car engines are actually designed to be more efficient and effective, which means that they require superior technology to perform. As engine technology advances, the design of spark plugs must also evolve to meet these requirements. This has created a massive demand for spark plugs in the automotive industry. For instance, in May 2023, According to the report published by the Europen Automobile Manufacturers Association reported in 2022, 85.4 million motor vehicles were produced around the world, an increase of 5.7% compared to 2021.

Therefore, the increasing production and sales of the vehicles have upsurged the demand for the spark plug.

• Based on components, the market is segmented into insulators, central electrodes, ground electrodes, terminals, and metal shells. The insulators category is currently dominating the market and is expected to see the same trend in the forecast period. As it's one of the most regularly replaced components of the spark plug. Insulators are prone to put on and tear and can crack or damage, main to engine misfires. Spark plug producers, therefore, are cognizant of growing insulators that could withstand high warmth from engine combustion, pressure, and chemical reaction from gasoline, oil, and different engine fluids. To ensure the longevity of their product, sparking plug companies invest in innovative materials and designs that can resist high heat and pressure. For instance, NGK Insulators Ltd. recently developed an insulator made of alumina-zirconia composite, which can easily dissipate heat, increasing engine horsepower and lifespan.
• Based on material, the market is segmented into copper core, platinum, and iridium. The iridium segment is currently the leading segment and is expected to dominate the segment in the forecast period due to its superior performance, longevity, and efficiency. Iridium is a rare metal that is extremely tough and has a high melting point, making it an ideal material for spark plugs. Iridium spark plugs have a lifespan of as much as 100000 miles, which is extensively longer than the copper core and platinum spark plugs. Iridium spark plugs additionally offer higher fuel performance, more energy, and quicker acceleration than the copper core and platinum spark plugs. For instance, The 2021 Honda Civic Type R also comes standard with iridium spark plugs, which provide better performance and reliability than copper core or platinum spark plugs.
• On the basis of product type, the market is categorized into hot spark plugs and cold spark plugs. Among them, the cold spark plugs segment holds a significant share of the market in 2021. This is mainly due to its better fuel efficiency compared to the hot ones. whilst a spark plug maintains a high temperature, it means that it will require extra gasoline to function. This extra gasoline may additionally result in increased emissions and reduced fuel performance. therefore, cold spark plugs are an economical option, especially for drivers who want to keep on fuel prices. Moreover, modern engines are designed to be more compact and have higher compression ratios which mean that they generate extra warmth, which calls for a spark plug that may burn up warmness fast. Cold spark plugs are a better option for such engines as they make sure that the engine is working within the recommended temperature range.
• On the basis of the end-user industry, the market is categorized into automotive, marine, aviation, and industrial machines/engines. Among them, the automotive segment is the leading market in 2021. The primary reason for this can be attributed to the high urging for passenger cars and commercial vehicles which notably utilize gasoline and diesel engines for propulsion. The growing number of vehicles on the road worldwide creates an enormous demand for spark plugs. Moreover, improvements in automobile technology and the increasing preference for fuel-efficient and low-emission cars have caused a better demand for specialized spark plugs which can resist excessive conditions and decrease emissions from the engine. In the automotive industry, the majority of engines are gasoline or diesel engines. Thus, there is an enormous demand for spark plugs in the automotive sector.
• On the basis of sales channel, the market is bifurcated into OEM and aftermarket. Among them, the OEM segment holds a significant share of the market in 2021. This is mainly due to the OEM sales channel having the advantage of being the first supplier of spark plugs for a vehicle during the manufacturing process. The OEM segment is dominated by a few key players, including NGK Spark Plugs, and Denso Corporation. These corporations have a large market share, and this permits them to dictate the marketplace trends, including pricing and product innovation. The call for OEM spark plugs is typically strong and depends on the car production volumes. Moreover, The OEM segment is preferred by manufacturers because of the reliability of the components. The manufacturers have a rigorous testing process to ensure that the OEM spark plugs provided to their customers meet certain quality standards.
• For a better understanding of the market adoption of the spark plug industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Mexico, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. The Asia Pacific region is dominating the spark plug market because of numerous factors which include the growing demand for automobiles, the speedy urbanization, and the growth of the car industry in the place. Moreover, the region is going through a heavy automotive expanding industry with major big giants such as Hyundai, Tata Motors, Maruti, Toyota, and others that persistently develop technologically advanced vehicles to satisfy the market demand. For instance, according to the report published by the International Organization of Motor Vehicle Manufacturers, the total number of vehicles produced in the Asia Pacific region was 46,768,800 units in 2021, which increased to 50,020,793 units in 2022. To satisfy the market demand the major spark plug players in the region such as NGK Spark Plug Co., Ltd., and Denso Corporation have established their manufacturing plants.
• Some of the major players operating in the market include Niterra Group; Denso Corporation; Robert Bosch LLC; Tenneco Inc.; Valeo Service; E3 Spark Plugs; Ford Motor Company; Weichai Power Co., Ltd; MAGNETI MARELLI PARTS & SERVICES; and ACDelco.