As per this study the Global Spark Plug Market was valued USD XX.X MN (by revenue) in 2019 and is anticipated to reach USD XX.X MN by 2026 with a CAGR of X.X%.
Spark plug is the device used to ignite the combustion engine by producing an electric spark to make the fuel burn. Structurally, it is threaded into the cylinder of spark ignition engine that produces the spark to ignite the combustible air-fuel mixture. It encompasses of center electrode, insulator, metal casing and a side electrode that ignites the spark inside the combustion chamber. It is extensively used in trucks, boats, aircraft, industrial and oil field engines, burners, power mowers and chain saws.
Growing demand and production of the automotive vehicles is driving the market growth. Rising usage of fuel-based generators, jets, boats and other fuel driven machinery is fueling the market growth. Stringent regulation imposed by governments and regulatory authorities regarding emissions is again boosting the market growth. Ongoing advancement leading to improvement in the performance and ignitability is expected to foster the market in the following years. However, the rising trend of engine downsizing coupled with growing demand for electric vehicles may hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of spark plug.
The broad spark plug market has been sub-grouped into type, electrode material, application type and distribution channel. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Electrode Material
- Hot Spark Plug
- Cold Spark Plug
By Application Type
By Distribution Channel
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for spark plug in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Spark Plug Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the spark plug market include ACDelco, Denso Corporation, Federal-Mogul Corporation, HELLA GmbH & Co. KGaA, Megenti Marelli S.p.A, MSD Performance, NGK Spark Plug Co. Ltd, Robert Bosch Gmbh, Valeo and Weichai Power Co. Ltd. among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.