New York, United States, March 19, 2024 (GLOBE NEWSWIRE) -- The Global Spark Plug Market Size is to Grow from USD 5.12 Billion in 2023 to USD 8.18 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.80% during projected period.
Get a Sample PDF Brochure: https://www.sphericalinsights.com/request-sample/3852
An internal combustion engine's cylinder head is fitted with a spark plug to ignite the air-fuel mixture and remove heat from the ignition chamber. This ignition mechanism is necessary for the engine to operate properly. Spark plugs, despite their simple appearance, are essential to engine performance. By creating a spark between its two electrodes, which are separated by an air gap, a spark plug ignites an air-fuel mixture. In addition to saving gasoline, an effective spark plug promotes a smooth engine start. In addition, spark plugs contain iridium, copper, nickel, and platinum. Vehicles, motorbikes, lawnmowers, boats, light airplanes, pumps, snowmobiles, generators, chainsaws, and farm equipment all need spark plugs. During the projection period, increasing vehicle sales and production in each area will support the global spark plug market expansion. The more cars that are made and driven on the road, the greater the demand is for the product. Population growth, increasing urbanization, and global economic development all contribute to this rise. However, the shift towards electric vehicles (EVs) is expected to decrease spark plug demand, impacting the automotive industry and affecting the demand for conventional combustion engines.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Spark Plug Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Spark plugs, Glow plugs), By Electrode Material (Copper, Platinum, Iridium), By Sales Channel (OEM, Aftermarket), By Application (Automobile, Marine, Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
Buy Now Full Report: https://www.sphericalinsights.com/checkout/3852
The spark plugs segment is anticipated to hold the greatest share of the global spark plug market during the projected timeframe.
On the basis of product type, the global spark plug market is divided into spark plugs and glow plugs. Among these, the spark plugs segment is anticipated to hold the greatest share of the global spark plug market during the projected timeframe. This is because of emission rules, most modern cars run on gasoline, which has led to a large global market for plugs for gasoline-powered vehicles.
The copper segment is anticipated to hold the greatest share of the global spark plug market during the projected timeframe.
On the basis of electrode material, the global spark plug market is divided into copper, platinum, and iridium. Among these, the copper segment is anticipated to hold the greatest share of the global spark plug market during the projected timeframe. The segmental growth can be attributed to the traditional use of copper materials for the electrodes.
The OEM segment is predicted to hold the greatest share of the global spark plug market during the estimated period.
On the basis of sales channel, the global spark plug market is divided into OEM and aftermarket. Among these, the OEM segment is predicted to hold the greatest share of the global spark plug market during the estimated period. The OEM has created modern, highly effective spark plugs that are small and efficient in response to boost the segmental growth of the spark plug market during the forecast period.
The automobile segment is predicted to hold the greatest share of the global spark plug market during the estimated period.
On the basis of application, the global spark plug market is divided into automobile, marine, and industrial. Among these, the automobile segment is predicted to hold the greatest share of the global spark plug market during the estimated period. The segmental growth can be attributed to the stringent government pollution rules and the growing demand for fuel-efficient cars.
Inquire Before Buying This Research Report: https://www.sphericalinsights.com/inquiry-before-buying/3852
Asia-Pacific is expected to hold the largest share of the global spark plug market over the forecast period.
Asia-Pacific is expected to hold the largest share of the global spark plug market over the forecast period. Asia Pacific leads the world's spark plug market because it is a hub for manufacturing, including the creation of non-automotive devices like lawnmowers and generators that also need spark plugs. The region's growing urbanization and industrialization, which has fuelled the growth of several industries, manufacturing, and transportation, has significantly raised demand for spark plugs.
Europe is predicted to grow at the fastest pace in the global spark plug market during the projected timeframe. Europe's focus on clean technology, especially emissions control and fuel efficiency, has impacted the demand for advanced and environmentally friendly products and encouraged prosperity in the region. The need for British-made commercial vehicle engines is predicted to expand, and new emission rules will likely boost the growth of the spark plug market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Spark Plug Market include Denso Corporation, General Motors Company, Marelli Holdings Co., Ltd., BorgWarner Inc., E3 Spark Plugs, Ford Motor Company, Valeo S.A., Federal-Mogul Corporation, Robert Bosch GmbH, KLG Spark Plugs, Salplan, NGK Spark Plug Co., Ltd., Autolite, Tenneco Inc., Weichai Power Co., Ltd., Others.
Get Discount At @ https://www.sphericalinsights.com/request-discount/3852
Recent Developments
- In July 2023, Denso ceramic products, including air-fuel ratio sensors, O2 sensors, and spark plugs, were first acquired by NGK. Denso will take over the development, production, and sales of exhaust sensors and spark plugs for internal combustion engines in Japan and other countries.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global spark plug market based on the below-mentioned segments:
Global Spark Plug Market, Product Type
- Spark plugs
- Glow plugs
Global Spark Plug Market, By Electrode Material
- Copper
- Platinum
- Iridium
Global Spark Plug Market, By Sales Channel
- OEM
- Aftermarket
Global Spark Plug Market, By Application
- Automobile
- Marine
- Industrial
Global Spark Plug Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
Browse Related Reports
Global Automotive Adhesive Market Size, Share, and COVID-19 Impact Analysis, By Adhesive Type (Threadlocks & Retainers, Structural, Tapes & Films, Liquid Gaskets), By Technology (Solvent-Based, Hot-Melt, Water-Based), By Application (Powertrain, Paint Shop, Body-In-White, Assembly, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
Global Truck Axle Market Size, Share, and COVID-19 Impact Analysis, By Type (Rigid Axles, Drive Steer Axles, Non-Drive Steer Axles), By Application (Front Axle, Rear Axle), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
Global Motorcycle Exhaust System Market Size, Share, and COVID-19 Impact Analysis, By Application (OEMs, Aftermarket), By Type (Single Exhaust System, Dual Exhaust System), By Sales Channel (Online, Offline), By Vehicle Type (Cruiser, Sport, Touring, Standard, Dirt Bike, Scooter), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
Global Engine Cooling System Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Two Wheelers, Passenger Vehicles, Commercial Vehicles), By Engine Type (Air-Cooled Engine, Liquid-Cooled Engine), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Follow Us: LinkedIn | Facebook | Twitter
