Automotive Spark and Glow Plugs Market

Global Market Study on Automotive Spark and Glow Plugs: Rising Electric Vehicle Sales to Complement Market Expansion

Automotive Spark Glow Plugs Market Segmented By Hot Spark Plug, Cold Spark Plug, Metal Glow Plug, Ceramic Glow Plug in Passenger, Cars, LCV, HCV

  • August-2021
  • PMRREP4072
  • 199 Pages
  • Automotive
  • PPT, PDF, WORD, EXCEL

Market Snapshot

Global automotive spark and glow plugs market revenue amounted to US$ 5.5 Bn in 2021, and the industry saw stagnant growth over the past 5 years. According to this revised analysis by Persistence Market Research, the market is anticipated to expand sluggishly at a CAGR of 1.8% over the next ten years. By 2031, the market is expected to be 1.2X the value it enjoys currently.

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Companies

  • NGK Spark Plug Co. Ltd
  • Federal-Mogul Corporation
  • Denso Corporation
  • Robert Bosch GmbH
  • Borgwarner Inc.
  • Weichai Power Co., Ltd.
  • Valeo SA
  • ACDelco Corporation
  • Magneti Marelli Aftermarket N.A.
  • Other

Key Points Covered In Automotive Spark and Glow Plugs Industry Survey:

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, country-wise, and region-wise analysis
  • Competition mapping and benchmarking
  • Brand share and market share analysis
  • Key product innovations and regulatory climate
  • COVID-19 impact on sales of automotive spark and glow plugs and how to navigate
  • Recommendation on key winning strategies

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New Launches of Automotive Spark and Glow Plugs

The automotive industry has seen some major ups and downs in the past few years, and this is majorly attributed to the paradigm shift in the market toward electric vehicles and alternative energy vehicles. Demand for IC engine components is expected to see some major changes as the world heads toward the trend of electric vehicles.

Robert Bosch, LLC., a renowned name in the automotive industry, recently added more than 400 aftermarket automotive parts to its portfolio. Of those, it has also released its new EVO spark plugs that are aimed at ensuring reliable ignition throughout their long service life even under extreme conditions, and are built for modern engines. These plugs have high dielectric strength (>45 kV) and can withstand irregular combustion.

Similarly, Pulstar has also launched a new spark plug in 2020, which is an improved and upgraded product with better performance and is long-lasting. The new iridium-based plug is claimed to be 20,000 times more powerful than standard spark plugs. The plug also has a capacitor that stores energy from the vehicle’s battery so that when the ignition is turned on it provides a massive pulse, providing better performance and uses less gasoline.

automotive-spark-and-glow-plugs-market

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Market Overview

The global automotive spark and glow plugs market is set to grow at a slow but steady rate through 2031. Rise in demand and sale of commercial vehicles is estimated to boost market growth over the coming years. Platinum and Iridium are projected to gain preference over other materials for making automotive spark and glow plugs.

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What’s More?

An automotive spark plug is a device designed to fit into each cylinder of a gasoline-powered internal combustion engine to produce an electric spark for ignition of the air-fuel mixture. The automotive glow plug is a device fitted into each cylinder of a diesel engine, with a heating element to heat incoming fuel and air to ensure efficient combustion when the engine is cold.

Long-term business contracts of spark and glow plug manufacturers with suppliers to reduce production costs and increase profit margin is another factor expected to fuel the growth of the market over the forecast period.

Increasing replacement interval for spark plugs, engine downsizing and focus of prominent players on business expansion and collaboration with technology providers are some of the prominent trends observed in the market.

Region-wise Outlook

Owing to the rapid growth in the adoption of light-weight vehicles, the Asia Pacific is projected to attain a leading position on the market. Europe is surfacing as a lucrative market for the manufacturers with increasing preference for pick-up trucks and small vans over heavy vehicles.

Amongst the aforementioned regions, MEA automotive spark and glow plugs market is expected to expand at the highest CAGR, in terms of volume during the forecast period. Asia-Pacific is expected to account for dominant market volume share of nearly 1/2 by 2031 end in the global automotive spark & glow plugs market.

In terms of market volume, Europe’s market is expected to depict slow growth during the forecast period. It is slated to account for a value share of 2/10 by the end of 2021. Revenue contribution of Latin America to the global automotive spark and glow plugs market is expected to increase at a stagnant CAGR over the forecast period.

Automotive Spark and Glow Plug OEMs

Manufacturers are collaborating with suppliers to reduce the production cost. The market players are introducing new technologies in these plugs to attract consumers and stay at the forefront of the competition.

Established players in the global market include Robert Bosch GmbH, Magneti Marelli Aftermarket N.A., NGK Spark Plug Co. Ltd, Borgwarner Inc., Denso Corporation, ACDelco Corporation, and Valeo SA.

How is the Market Categorized?

Automotive spark & glow plugs are segmented on the basis of type into hot spark plugs, cold spark plugs, metal glow plugs and ceramic glow plugs. The global automotive spark and glow plugs market is expected to expand at a CAGR of 1.8% in terms of value over the forecast period (2021–2031), to reach a market value of US$ 6.6 Bn by 2031.

Automotive spark and glow plugs market growth is influenced by a number of factors such as increasing automotive production and vehicle parts, upcoming stringent emission norms and rising demand for high fuel efficiency.

On the basis of product type, the market is segmented into hot spark plug, cold spark plug, metal glow plug and ceramic glow plug. On the basis of vehicle type, the market is segmented into passenger cars, LCV and HCV. On the basis of sales channel, the market is segmented into OEM and aftermarket.

On the basis of geographic regions, the automotive spark and glow plugs market is segmented into Asia-Pacific, Europe, North America, Latin America and the Middle East & Africa.

Market Segmentation:

The subsequent sections analyze the automotive spark and glow plugs market on the basis of product type, vehicle type and sales channel and presents a forecast for the period 2021–2031.

Type of Spark & Glow

  • Hot Spark Plugs
  • Cold Spark Plugs
  • Metal Glow Plugs
  • Ceramic Glow Plugs

Vehicle Types

  • Passenger Cars
  • LCVs
  • HCVs

Sales Channels

  • OEMs
  • Aftermarket

Regions

  • Asia Pacific
  • Europe
  • North America
  • Latin America
  • The Middle East & Africa

- FAQs -

Increasing demand for hot spark plugs and rising vehicle production are majorly influencing demand growth of automotive spark and glow plugs.

Currently, the automotive spark and glow plugs market enjoys a valuation of US$ 5.5 Bn.

Rising replacement interval of spark plugs and growth of electric vehicles are major aspects that are guiding sales of automotive spark and glow plugs.

NGK Spark Plug, Robert Bosch, Denso Corporation, and DRiV Automotive collectively hold dominion over 70% of the global market share.

The automotive spark and glow plugs market is expected to increase at a sluggish CAGR of 1.8% over the next ten years, and amass a market worth of nearly US$ 6.6 Bn by 2031

The automotive spark and glow plugs market expanded at a slow CAGR of 2.3% over the past five years.

The U.S., China, Japan, Mexico, and Germany are leading the industry in terms of demand.

Sales of automotive spark and glow plugs are anticipated to register a volume CAGR of 1.6%.

The market in Germany is anticipated to register expansion at a sluggish CAGR of 1.4% in the European region.

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