Global Spark Plug and Glow Plug Market Trends, Analysis, Growth, and Forecast: 2017 to 2026

Global Spark Plug and Glow Plug Market Overview:

“The global Spark Plug and Glow Plug Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global spark plug and glow plug market report has been segmented on the basis of plug type and region.

Spark plug produces electric spark to burn petrol in the vehicle while engine starts and runs. Also, the glow plug generates heat to burn diesel in the vehicle to start the engine in cold environment. Spark plugs are integrated in cylinders of petrol engine while, glow plugs are integrated on cylinder head of the diesel engine.

Increasing demand for fuel efficient vehicles across the globe and stringent government regulations regarding environmental pollution are the major factors driving growth of the global spark plug and glow plug market.

Moreover, increasing focus on new product development by leading players in the market and technological advancements in spark plug and glow plug such as integration of E3 high-performance, plasma core, and ACIS (Advanced Corona Ignition System) in designing of spark plug are expected to support growth of the target market in the near future.

Also, increasing sales of vehicle across the globe and high demand for fuel efficient vehicle owing to continuous increasing fuel prices in emerging countries such as India are the other factors expected to propel growth of the global spark plug and glow plug market.

However, increasing electric vehicle development, market penetration and government support for electric vehicle penetration are the major factors expected to restrain growth of the global spark plug and glow plug market.

Asia Pacific market dominates the global spark plug and glow plug market in terms of revenue contribution as compared to that of markets in other regions. This is mainly attributed to availability of large number of manufacturers as well as high sale of vehicles in countries in the region. Europe accounts for second-largest revenue share contribution to the global spark plug and glow plug market, followed by markets in the North America, Latin America, and the Middle East & Africa respectively.

The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years, owing to increasing new vehicle launches and increasing sales of passenger vehicles in countries in the region.

Global Spark Plug and Glow Plug Market Segmentation:

Global spark plug and glow plug market segmentation, by plug type:

• Spark Plug
  • Hot Plug
  • Cold Plug
• Glow Plug
  • Metal Glow Plug
  • Ceramic Glow Plug

Global spark plug and glow plug market segmentation, by region:

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