Spark plug is an
engine component and it delivers electric current during the combustion process
to produce spark. It is an electric device threaded into the cylinder of spark
ignition engine. When the engine is operated there is a high tension current
flow through the center electrodes, it ionizes the gas present between the
electrode gaps, hence the spark generates. Centre electrode is the most
important part of the spark plug, as fuel economy and engine efficiency is
based upon that.
Market size and forecast
Spark plug
market is expected to expand at a CAGR of 4.1% over the forecast period i.e.
2017-2024. Moreover, the spark plugs market is anticipated to reach USD 2,900
Million by 2024. Increasing automotive production, upcoming stringent
government regulation (related to carbon emission) and rising demand for fuel
efficiency is expected to propel the growth of spark plug market during the
forecast period. Hot spark plug segment contributed the largest share in terms
of revenue by product type in the global spark plug market in 2016.
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Asia-Pacific
is estimated to be the largest spark plug market due to the dominance of
automotive industry in the region. China and India are the major contributors
in Asia-Pacific region over the past few years. To cater to the massive demand,
many Original Equipment Manufacturers (OEMs) are expanding to this region. Due
to rapid pace in industrialization and urbanization in developing countries
such as China, India, Thailand and Singapore, these countries are anticipated
to observe a robust growth in spark plug market
in the next few years. Europe is the second largest market of spark plugs
globally, followed by it; North America is anticipated to grow at a significant
pace over the forecast period.
Market Segmentation
Our
in-depth analysis segmented the spark plug market in the following segments:
By
Electrode Material
·
Copper
·
Iridium
·
Platinum
By
Application
·
Automobile
·
Marine
·
Industrial
·
Working
Equipments
o Brush cutters
o Mowers
o Saws
By Product
·
Hot
spark plug
·
Cold
spark plug
By
Distribution Channel
·
OEMs
·
Aftermarket
Growth Drivers and Challenges
The factor
heightening the demand for spark plugs is their need in automobile industry, as
spark plugs are an integral part of the combustion engine. The global demand
for spark plugs is also driven by increasing production of high performance
automotive components. It has been notified that industrial sector is also
influencing the spark plug market growth, owing to increase in number of gasoline
and natural gas based generators. Moreover, increase in demand for natural gas
powered vehicles, along with technological advancement, are expected to drive
the growth of spark plug market.
Key Players
The key
players of spark plug market are as follows:
·
NGK
Spark plug co. Ltd
·
Federal-Mogul
Corporation
·
Denso
Corporation
·
Robert
Bosch GmbH
·
Ford
Motor Company
·
Valeo
·
MSD
Ignition
·
Enerpulse
Technologies
·
Roush
Performance
·
Mopar
·
Microcraft
·
Megenti
Marelli
Scope and Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
spark plug market is segmented as follows:
·
By
electrode material Market Size & Y-O-Y Growth Analysis
·
By
Application Market Size & Y-O-Y Growth Analysis
·
By
Product Market Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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