Automotive Spark And Glow Plugs Market
Global automotive spark and glow plugs market is estimated to be valued at US$ 8.42 Bn in 2024, exhibiting a CAGR of 1.9% over the forecast period (2024-2031). Spark plugs and glow plugs play a crucial role in the ignition of gasoline and diesel engines respectively. Spark plugs create electric sparks to ignite air-fuel mixture in gasoline engines, while glow plugs heat up engine's combustion chamber to assist ignition in diesel engines during cold starts. Growing automotive manufacturing and rising demand for vehicles with efficient ignition systems will propel the need for spark and glow plugs. Moreover, stricter emission regulations will also necessitate frequent replacement and upgrading of these plugs to improve engine performance. Technological advancements in plug design catering to new fuel types will further support market expansion over the coming years.
Market Dynamics:
Global automotive spark and glow plugs market is expected to grow at a healthy pace during the forecast period, driven by factors such as increasing vehicle production and sales worldwide. Growing automotive manufacturing, especially in the Asia Pacific region supported by low-cost manufacturing and rising disposable incomes in countries like India and China, will bolster the plug demand. Furthermore, stringent emission regulations mandating periodic plug replacement and upgrade are prompting manufacturers to develop advanced ignition solutions, thereby creating growth opportunities. However, the development of hybrid and electric vehicles which do not require spark or glow plugs can hamper the market growth to some extent. Ongoing R&D towards more efficient plugs catering to alternate fuel engines, such as LPG and CNG, present new prospective opportunities.
Key Features of the Study:
- This report provides in-depth analysis of the global automotive spark and glow plugs market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global automotive spark and glow plugs market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include NGK Spark Plug Co., Ltd., Denso Corporation, Robert Bosch GmbH, Federal-Mogul Corporation (Tenneco), BorgWarner Inc., Autolite (FRAM Group), Delphi Technologies, ACDelco (General Motors), Valeo, and Magneti Marelli
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global automotive spark and glow plugs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automotive spark and glow plugs market
Market Segmentation
Table of Contents
*Browse 32 market data tables* and 28 figures* on 'Global Automotive Spark and Glow Plugs Market' - Global forecast to 2031
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