NEW
YORK, May 17, 2024 /PRNewswire/ -- The
global automotive aftermarket for spark plugs
market size is estimated to grow by USD 136.57 mn from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
almost 1.85% during the forecast period.
For more insights on the forecast market size and
historic data (2018 - 2022) - Download Free sample
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Passenger
cars and Commercial vehicles), Type (Hot spark plugs and Cold spark
plugs), and Geography (APAC, North America, Europe, Middle East and
Africa, and South America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
BorgWarner Inc., E3
Spark Plugs, First Brands Group, Ford Motor Co., General Motors
Co., Marelli Holdings Co. Ltd., Niterra Co. Ltd., Robert Bosch
GmbH, Stellantis NV, Suzuki Motor Corp., Tenneco Inc., Valeo SA,
WeiChai Holding Group Co. Ltd., and DENSO Corp.
|
Key Market Trends Fueling Growth
The automotive aftermarket for spark plugs has seen a shift
towards platinum and iridium options due to their heat resistance
and efficiency. Once exclusive to luxury vehicles, these materials
are now used in mass-selling cars and light commercial vehicles.
Modern engines' high combustion temperatures necessitate durable
materials like platinum, iridium, and rhodium. Iridium plugs' low
voltage requirement reduces ignition system load, ensuring precise
sparks for efficient fuel combustion. This trend is observed in
gasoline and diesel engines for passenger cars, light commercial
vehicles, and heavy commercial vehicles. The need for engine
downsizing and increased fuel economy, coupled with stringent
emission norms, drives this market growth. The spark plug market
encompasses various technologies such as plasma jet ignition, tube
spurt ignition, and conventional automobiles. Urbanization and
economic development further fuel the demand for automotive
production and maintenance, including spark plug replacement
cycles. The aftermarket segment caters to hybrid vehicles and two
wheelers as well.
Market Challenges
- The automotive aftermarket for spark plugs is experiencing
significant change due to the evolving automotive industry. With
the rise of electric vehicles (EVs) and hybrid powertrains, the
demand for various spark plug types is increasing. Traditional
spark plugs are being phased out in favor of alternatives for EVs,
which don't require them. However, hybrids may still utilize them
less frequently. The use of spark plugs in EVs necessitates
knowledge of replacement schedules and specific requirements for
different vehicle types. Other factors influencing the market
include catalysts, ignition systems, plasma-assisted combustion,
and Pulstar Spark Plugs. Additionally, oil price volatility,
emission regulations, and functional issues in high-performance
engines, sedans, and conventional diesel engines impact the market.
The maritime sector, industrial applications, and OEM sales
channels also contribute to the spark plug market.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This automotive aftermarket for spark plugs market report
extensively covers market segmentation by
- Application
- 1.1 Passenger cars
- 1.2 Commercial vehicles
- Type
- 2.1 Hot spark plugs
- 2.2 Cold spark plugs
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Passenger cars- In the global automotive
industry, the application segment of the spark plugs and glow plugs
market primarily caters to vehicles powered by internal combustion
engines, including gasoline and diesel engines. With growing
concerns over emissions and fuel efficiency, there is a significant
shift towards gasoline engines in the passenger cars and light
commercial vehicles segment. Europe is leading this transition due to
stricter emission norms and the increasing dissatisfaction with
diesel cars' pollution. The internal combustion engine market,
comprising gasoline and diesel engines, is undergoing
transformations such as engine downsizing, fuel efficiency
improvements, and the adoption of advanced ignition systems like
plasma jet ignition and tube spurt ignition. Spark plugs and glow
plugs play a crucial role in these engines' performance and
durability. High-performance spark plugs and metal glow plugs are
essential components for maintaining optimal engine efficiency in
various vehicle applications. Gasoline engines typically require
hotter spark plugs than diesel engines due to their higher
compression ratios. The spark plugs' voltage and replacement cycles
are critical factors in ensuring consistent combustion chamber
performance. The automotive aftermarket segment, including spark
plugs and glow plugs, is expected to grow significantly as the
demand for maintenance and replacement increases. The shift towards
electric vehicles (EVs) and hybrid vehicles is also influencing the
market dynamics, with OEMs and aftermarket players focusing on
developing advanced ignition systems for these vehicles.
Urbanization, economic development, and stringent emission norms
are driving the automotive production growth, leading to increased
demand for spark plugs and glow plugs. The aftermarket segment for
two-wheelers and four-wheelers is also expected to witness
significant growth as vehicle owners prioritize regular maintenance
to ensure optimal engine performance. General Motors, along with
other automakers, is focusing on developing advanced ignition
systems and improving engine efficiency to meet the evolving
emission norms and consumer preferences. The spark plugs and glow
plugs market is poised for growth as the automotive industry
continues to adapt to the changing market landscape.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
In the automotive aftermarket, spark plugs and glow plugs
continue to play a crucial role in maintaining the performance and
durability of internal combustion engines in passenger cars, light
commercial vehicles, and heavy commercial vehicles. Vehicles with
high performance engines, including those in the e-commerce sector
and logistics industry, require optimal ignition system
performance. Spark plugs and glow plugs are essential components in
gasoline and diesel engines, ensuring efficient combustion and
reducing emissions. Engine downsizing and the increasing adoption
of electric vehicles have not diminished the demand for these
components. Functional issues in heavy materials transport and
commercial vehicles can often be traced back to faulty spark plugs
or glow plugs. Automotive Spark Plugs and Heavy materials transport
are interconnected, as the reliable operation of commercial
vehicles is essential for the smooth functioning of industries such
as construction.
Market Research Overview
The automotive aftermarket for spark plugs is a significant
segment within the broader automotive industry. Spark plugs play a
crucial role in the ignition system of internal combustion engines,
enabling efficient and reliable engine performance. The spark plug
market caters to the demand for replacement and high-performance
spark plugs from various vehicle makes and models. Factors driving
the growth of this market include increasing vehicle parc, rising
demand for fuel efficiency, and the adoption of advanced
technologies in spark plug design. Additionally, the market is
witnessing the emergence of electric vehicles, which presents both
opportunities and challenges for spark plug manufacturers. The
market landscape is diverse, with various types of spark plugs
available, including iridium, platinum, and copper plus. Overall,
the automotive aftermarket for spark plugs is a dynamic and
evolving market, driven by technological advancements and changing
consumer preferences.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Passenger Cars
- Commercial Vehicles
- Type
-
- Hot Spark Plugs
- Cold Spark Plugs
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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