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Spark Plug & Glow Plug Market Analysis | CMI

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Spark Plug & Glow Plug Market Analysis | CMI

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. SPARK PLUG & GLOW PLUG MARKET ANALYSIS • Global Spark Plug and Glow Plug Market - by Product Type (Hot Plug, Cold Plug, Metal Glow Plug, Ceramic Glow Plug) and by Geography - Industry Insights and Forecast till 2025

  3. Market Drivers: • Increasing vehicle sales is one of the major factors for growth of the Spark Plug and Glow Plug Market. According to International Organization of Motor Vehicle Manufacturers, in 2017, the sales of vehicles or registration of new vehicles was 96,804,390 units up from 93,905,634 units in 2016. According to Coherent Market Insights’ analysis, the sales or registration of new vehicles is expected to reach 141,303,730 units by 2025.

  4. Market Restraints • However, increasing sales of electric vehicles is one of the major factors, which is negatively impacting growth of the market. According to Coherent Market Insights’ analysis, in 2017, the global sales of electric vehicle was 962 thousand units.

  5. Segment Information • Spark plug segment held the dominant position in 2017 The spark plug segment held the dominant position in the global market and is projected to retain its dominance throughout the forecast period. In 2017, the spark plug segment was valued at US$ 2414.3 million and is expected to reach US$ 3801.3 million by 2025 with a CAGR of 5.8% over the forecast period. Increasing sales of passenger cars that run on gasoline is one of the major factors expected to aid in growth of the market over the forecast period. According to International Organization of Motor Vehicle Manufacturers, the sales of passenger vehicles was 70,849,466 units in 2016 up from 69,506,882 units in 2015.

  6. Figure. Global Spark plug and Glow Plug Market Share, by Region, 2017 (Mn)

  7. Asia pacific held the dominant position in spark plug and glow plug market in 2017 • On the basis of geography, the spark plug and glow plug market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific held the dominant position in the market in 2017 and is projected to retain its dominance throughout the forecast period. In 2017, the Asia Pacific market was valued at US$ 1542.6 million and is expected to reach US$ 2679.2 million by 2025 with a CAGR of 7.1%. • India, China, Japan and South Korea are some of the major countries in the spark plugs market in this region. High sales of passenger cars in the region is one of the major factors for the growth of the spark plug market in this region. For instance, according to International Organization of Motor Vehicle Manufacturers, in 2017, the new sales or registration of new passenger car in China was 24,961,948 units up from 24,376,902 units in 2016. Similarly, in 2017, the new passenger car sales or registration in India, Japan, and South Korea was 3,227,701 units, 4,391,100 units and 1,495,468 units, respectively. This is expected to be one of the major driving factors for growth of the market in Asia Pacific. In addition to this, advancement in technology in spark plug and glow plug such as pressure sensor glow plugs for diesel engines is also expected to support in growth of market.

  8. Key Players - Global Spark Plug and Glow Plug Market • The major players operating in the global spark plug and glow plug market include NGK Spark Plug Co. Ltd, Federal-Mogul Corporation, Borgwarner Inc., Denso Corporation, Robert Bosch Gmbh, General Motors (Acdelco Corporation), Delphi Automotive, Valeo, Weichai Power Co. Ltd., and UCI Fram Autobrands (Autolite)

  9. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Reference : https://www.coherentmarketinsights.com/market-insight/spark-plug-and-glow-plug-market-1474

  10. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  11. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

  12. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

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