Spark Plugs Market

Global glow plugs and spark plugs market in terms of value is projected to grow at a CAGR of 7.85% and 5.26% respectively over the period from 2014 to 2019. One of the major key factors driving the growth of this market is the increasing demand for vehicles across the globe. The rise in stringency of the government norms and regulations pertaining to the emissions and fuel efficiency is also a key contributor to the growth of spark & glow plugs. However, the increasing adoption of engine downsizing and transition towards electric vehicles are estimated to hinder the automotive spark and glow plugs market at a global level. Additionally, maintaining balance between low cost, high performance and durability of the spark and glow plugs is one of the common challenges for the market players to cope up with. As of 2014, global demand for hot spark plugs and metal glow plug is high owing to its large applicability in passenger cars. The hot spark plugs contribute around 57% of the global spark plugs market in terms of value, whereas metal glow plug contributes 55% of the global glow plug market in terms of value in 2014.

Global Automotive Spark and Glow Plugs Market, by Vehicle Type

Spark Plugs
Hot Spark Plugs
Cold Spark Plugs
Glow Plug
Metal Glow Plug
Ceramic Glow Plug

Global Automotive Spark and Glow Plugs Market, by Vehicle Type

Passenger Car
Light Commercial Vehicles (LCV)
Heavy Commercial Vehicles (HCV)

A spark plugs (in case of gasoline engines) or a glow plug (for diesel engines) a vital component that is essential for the functioning of a vehicle engine. These plugs play a key role in every vehicle that has an internal combustion engine. This validates the fact that the demand for spark and glow plugs is directly linked to the number of vehicles produced per year. Spark and glow plugs characteristically have a limited lifespan, owing to which they are in demand not only in the OE market, but in the aftermarket as well.

The global market value for spark plugs and glow plugs is projected to reach $ 2,804.83 Million and $1079.47 Million respectively by 2019. The market in terms of value for spark plugs is estimated to be the largest in the Asia-Oceania region, which holds a market share of about 46% in 2014. China is the major contributor to the growth of spark plugs in the Asia-Oceania region. The global demand for spark and glow plugs is propelled by the increasing number of vehicles across the globe, and the upcoming stringent fuel efficiency and emission norms. North America holds the second position in the market for spark plugs as this region has the majority of gasoline vehicles. The major contributor to the market in the North American region is the U.S., which has the largest production of gasoline LCVs. This justifies the huge demand for cold spark plugs that are used in high-performance engines. Europe is estimated to be the largest market for glow plugs, followed by Asia-Oceania. This is because the region has the second largest number of diesel vehicles in the world.

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