SPARK PLUG WIRE MARKET ANALYSIS

Spark Plug Wire MarketSize and Trends

Global spark plug wires market is expected to witness moderate growth during the forecast period. The market growth is majorly attributed to increasing demand for spark plugs and other ignition systems in various types of vehicles. Furthermore, high dependency of vehicle performance and mileage capabilities on smart plug wirings has increased their importance in the automotive industry. Spark plug wires are crucial parts of an automotive aftermarket, which is expected to witness considerable growth during the forecast period. This is owing to changing government regulations to support emission-free environment and improve efficiency of vehicles.

Technological advancements in automation and cost-effective spark plug pressing system is driving market growth

Advancements in the design and cost reduction in the pressing of the spark plug wires through automation by maintaining defined standards to eliminate quality defects such as meager contact of the cable generate unexpected hurdles has increased their adoption to maintain performance of the vehicle engine and lifespan. Therefore, continuous improvements in the design, as well as methodologies such as automation to press spark plug wires in the engine, has led to growth of the spark plug wiring industry. Moreover, enhanced characteristics of high-quality spark plug wires such as wire length, use of heat-resistant materials such as silicone, EPDM rubber, etc. on outer insulation, rubber boots on end terminals, and use of high quality conductors (copper, compressed carbon powder, steel, etc.) has gained significant traction in the automotive market.

Figure 2: Global Spark Plug Wire Market (US$ Mn) Analysis and Forecast, 2017 - 2030

Global spark plug wire market was valued at US$ 532.19 Mn in 2021 and is expected to reach US$ 1,033.36 Mn by 2030, growing at a CAGR of 7.8% between 2022 and 2030.

Figure 1: Global Spark Plug Wire Market Share (%), By Region, 2021

Asia Pacific held a dominant position in the global spark plug wire market in 2021 and is expected to maintain its dominance during the forecast period. Countries such as China, India, and South Korea are fast-growing economies and the population of these countries is also rising significantly. Increased population is creating demand for efficient mobility. This rising demand for efficient mobility is increasing demand for commercial vehicles, cars, and other vehicles in the Asia Pacific region. The spark plug wires play key role in igniting the vehicle engines and are in high demand in automotive sector. Hence the spark plug wire market is expected to show significant growth during the forecast period.

The use of innovative technologies such as Internet of Things (IoT) embedded to spark plug wires has helped to create a direct communication channel between user and producer. For instance, Moxa launched the IIOT (Industrial Internet of Things) Gateway Starter Kit in October 2017 that includes built-in support for Amazon Web Services (AWS) to allow faster deployments.

Furthermore, stringent standards and regulations regarding spark plugs are expected to boost sales of spark plug wires market during the forecast period. Example includes that of ISO 28741:2013, which is specific to properties and dimensions of the spark plugs including the terminals and the measurements of their cylinder head housings to be used in the spark-ignition engines. Because of high pressure, the spark plug has to endure, the insulator material is expected to possess high electrical resistance, sufficient mechanical strength, and good thermal conductivity.