Global spark plug market was valued at US$ 3369.3 million in 2017 up from US$ 3164.9 million by 2016. By 2025 spark plug and glow plug market is projected to reach US$ 5678.9 million with a CAGR of 6.7% over the forecast period, A spark plug is an electronic device, which when integrated with cylinder head in the vehicle engine, produces electric spark to burn petrol. Similarly, a glow plug—electrically heating devices—when integrated on the cylinder head of the diesel engine, helps to start the diesel engine in cold conditions. China is one of the major growth engines in the spark plug and glow plug market in Asia Pacific. Growth of the spark plug and glow plug market is directly proportional to increasing numbers of vehicles, globally.
Market Dynamics:
North America held the second-largest position in the spark plug market after Asia Pacific in 2016. The U.S. is the major growth engine in the market in this region. The region is expected to exhibit high growth, owing to high presence of major automotive companies in the U.S. VW Group, Toyota Group, GM Group, Renault-Nissan Alliance, Hyundai Kia Automotive Group, Ford Group, Honda, FCA, Daimler Group, BMW Group, Mazda, and Subaru are some of the major automotive companies in the U.S. According to Coherent Market Insights, Toyota Group held the largest share in the passenger car sales, in terms of units, in the U.S. in 2016. Furthermore, Europe holds the largest share in the glow plug market. This is due to high presence of diesel engine vehicles in the region and this is one of the major driving factors for growth of glow plugs market in this region. Germany, the U.K., Italy, France, Spain, and Russia are some of the major countries, in this region. According to Coherent Market Insights’ analysis, in Germany 46% of the new passenger cars sales had diesel engine, in 2016. Similarly, in France, 52% of the new passenger car had diesel engines, in 2016
Key features of the study:
This report provides in-depth analysis of spark plug and glow plug market, market size (US$ Million), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global spark plug and glow plug market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, spark plug and glow plug market capital, key developments, strategies, and future plans.
Companies covered as part of this study include NGK Spark Plug Co. Ltd, Federal-Mogul Corporation, Borgwarner Inc., Denso Corporation, Robert Bosch Gmbh, General Motors (Acdelco Corporation), Delphi Automotive, Valeo, Weichai Power Co. Ltd., and UCI Fram Autobrands (Autolite)
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics
The global spark plug and glow plug market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global spark plug and glow plug market
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