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Global Automotive Spark and Glow Plugs Market, 2016 - 2022
Persistence Market Research
Global Automotive Spark & Glow Plugs Market is Expected to be Valued for US$ 6.6 Bn by 2022: Persistence Market Research
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Global Automotive Spark and Glow Plugs Market, 2016 - 2022 Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research ‘Global Market Study on Automotive Spark and Glow Plugs: Ceramic Glow Plugs to be the Dominant Segment during the Forecast Period 2016 - 2022, the global automotive spark & glow plugs market is estimated to be valued at US$ 5.6 Bn by 2016 end, and is expected to increase at a moderate CAGR during the forecast period (2016–2022).
The automotive spark plug is a device designed to fit in each cylinder of a gasoline-powered internal-combustion engine to produce the 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. Automotive spark & glow plugs are generally classified by type into hot spark plugs, cold spark plugs, metal glow plugs and ceramic glow plugs. On the basis of vehicle type, the market has been segmented into passenger cars, light commercial vehicles (LCV) and heavy commercial vehicle (HCV). The market is segmented into OEM (original equipment manufacturer) and aftermarket, on basis of the sales channel.
Increasing automotive production & vehicle parc, upcoming stringent fuel efficiency and emission norms are expected to emerge as major factors driving the growth of automotive spark & glow plugs market during the forecast period. Long-term business contracts of spark & glow plugs manufacturers with OEMs helps them reduce production costs and increase profit margins and also shield them from price fluctuations of raw material. Such factors are further expected to fuel the growth of the market over the forecast period. However, rising demand for electric vehicles due to increasing environmental awareness, fluctuating fuel prices and ongoing inclination towards engine downsizing are projected to impede the growth of the global automotive spark & glow plugs market during the forecast period. Global automotive spark & glow plugs demand is expected to increase to 893,437 thousand units by 2022 at a moderate CAGR during the forecast period.
In terms of market value, Asia-Pacific is expected to dominate the global automotive spark & glow plugs market over the forecast period. Europe is expected to be the second-largest market, accounting for revenue share of 22.0% of the global estimated market value by 2016 end. MEA automotive spark & glow plugs market is slated to expand at the highest CAGR in terms of value during the forecast period.
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Global Automotive Spark and Glow Plugs Market, 2016 - 2022
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On the basis of product type, the ceramic glow plug segment is expected to expand at a comparatively higher value CAGR during the forecast period. The growth of this segment is primarily driven by increasing demand for diesel engines in developing countries such as China, Mexico and Brazil. On the basis of vehicle type, revenue contribution of the passenger cars segment is expected increase at the CAGR of 2.3% during the forecast period. On the basis of sales channel, aftermarket segment is expected to have dominant revenue share over the forecast period.
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Expansion of existing manufacturing facilities and collaboration with technology providers are major trends observed among key manufacturers to increase their market presence and enhance their product portfolio. Prominent players in the global automotive spark & glow plugs market include 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. The global automotive spark & glow plugs market is segmented as follows: By Product Type
Hot Spark Plug
Cold Spark Plug
Metal Glow Plug
Ceramic Glow Plug
By Vehicle Type
Passenger Cars
LCV (Light Commercial Vehicle)
HCV (Heavy Commercial Vehicle)
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Global Automotive Spark and Glow Plugs Market, 2016 - 2022 By Sales Channel
OEM (Original Equipment Manufacturer)
Aftermarket
By Region
Asia Pacific
Europe
North America
Latin America
Middle East & Africa
Market History: The automotive spark plug is a device designed to fit into each cylinder of a gasolinepowered 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. 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 2.1% in terms of value over the forecast period (2016–2022), to reach a market value of US$ 6.6 Bn by 2022.
Automotive spark and glow plugs market growth is influenced by a number of factors such as increasing automotive production and vehicle parc, upcoming stringent emission norms and rising demand for high fuel efficiency. Long-term business contracts of spark & 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.
Persistence Market Research, in its latest report titled ‘Automotive Spark and Glow Plugs Market: Global Industry Analysis and Forecast, 2016–2022’, has segmented the global
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Global Automotive Spark and Glow Plugs Market, 2016 - 2022 automotive spark and glow plugs market into product type, vehicle type, sales channel and region. 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.
Amongst the aforementioned regions, MEA Automotive Spark and Glow Plugs market is expected to expand at the highest CAGR of 4.0%, in terms of volume during the forecast period. Asia-Pacific is expected to account for dominant market volume share of 47.2% by 2022 end in the global automotive spark & glow plugs market. In terms of market volume, Europe market is expected to depict slow growth during the forecast period. It is slated to account for a value share of 22.0% by the end of 2016. Revenue contribution of Latin America to the global automotive spark and glow plugs market is expected to increase at a CAGR of 3.0% over the forecast period.
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Global Automotive Spark and Glow Plugs Market, 2016 - 2022 About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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