Dublin, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The "Automotive Glow Plugs Market by Type, Vehicle Type, Sales Channel, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive glow plugs market reached a substantial US$ 4.22 Billion in 2022, and it is expected to continue its growth trajectory, reaching US$ 5.36 Billion by 2028. This growth corresponds to a commendable Compound Annual Growth Rate (CAGR) of 3.71% during the forecast period from 2023 to 2028.
Automotive glow plugs are vital components in diesel engines, particularly in cold climates. They are small heating devices installed in the engine's combustion chamber, working to heat the air inside the cylinder before combustion.
This preheating process ensures a reliable engine start in cold weather conditions when the cylinder's air may be too cold to ignite diesel fuel without assistance. Glow plugs operate for a brief period, often less than 10 seconds, and automatically shut off once the engine is running. They play a crucial role in preventing engine damage from repeated cold starts.
Key Market Trends:
Several factors are driving the automotive glow plugs market:
- Growing Demand for Diesel Engines: Diesel engines are gaining popularity in both commercial and passenger vehicles, especially in regions with colder climates, where reliable cold starts are essential.
- Emissions Reduction and Fuel Efficiency: The focus on reducing emissions and enhancing fuel efficiency is contributing to market growth, as glow plugs play a role in optimizing engine performance.
- Technological Advancements: Ongoing technological advancements in glow plug materials and designs are improving performance and durability. Ceramic materials, for example, offer faster heating times and longer service life.
- Global Automotive Market Growth: The robust growth of the global automotive market, especially in developing regions like Asia Pacific and Latin America, is driving increased demand for glow plugs and other diesel engine components.
- Research and Development: Key industry players are investing in research and development to expand their customer base and enhance their product portfolios.
Key Market Segmentation:
The report provides detailed insights into key market segments:
Type Insights:
- Metal Glow Plug
- Ceramic Glow Plug
Metal glow plugs constitute the largest segment in the automotive glow plugs market.
Vehicle Type Insights:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Light commercial vehicles account for the largest market share in the automotive glow plugs segment.
Sales Channel Insights:
- OEM (Original Equipment Manufacturer)
- Aftermarket
The aftermarket segment represents the largest share in the automotive glow plugs market.
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others)
- Latin America (Brazil, Mexico, and others)
- Middle East and Africa
Asia Pacific stands as the largest market for automotive glow plugs, driven by factors such as increased internet utilization, 5G network adoption, and growing demand for advanced smartphones.
Competitive Landscape:
The report offers a comprehensive analysis of the competitive landscape in the global automotive glow plugs market, including market structure, key player market share, player positioning, top strategies, competitive dashboard, and company evaluation quadrant. Detailed profiles of major companies are included, featuring BorgWarner Inc., DENSO Corporation, Ford Motor Company, HKT Corporation, NGK Spark Plug Co. Ltd., Robert Bosch GmbH, Valeo S.A., YURA Corporation, and others. This list is not exhaustive; the complete list of companies can be found in the report.
Key Questions Answered in This Report:
- How has the global automotive glow plugs market performed, and what is its growth outlook for the coming years?
- What are the drivers, restraints, and opportunities in the global automotive glow plugs market?
- How do these factors impact the market's growth?
- Which regions offer the most attractive markets for automotive glow plugs?
- What are the key market segments, and which type, vehicle type, and sales channel are most attractive?
- Who are the key players in the global automotive glow plugs market, and what is the competitive landscape like?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4.22 Billion |
| Forecasted Market Value (USD) by 2028 | $5.36 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ldlavz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
