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Spark Plug Market

Spark Plug Market was valued at US$ 800Mn in 2017 and is expected to reach US$ 1560Mn by 2026, at a CAGR of 8.71% during a forecast period.

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Spark Plug Market

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  1. Spark Plug Market was valued at US$ 800Mn in 2017 and is expected to reach US$ 1560Mn by 2026, at a CAGR of 8.71% during a forecast period. The ultimate plug is to meet the demands of racing teams across the world. The plugs for racing cars that maximize the strength of the engines – are playing an important role to create demand in automotive industries for other vehicle too. Growing acceptance is supporting the manufacturers to develop and meet the demand for efficient spark plugs. Based on the Vehicle Type, Two-Wheeler segment is expected to hold the largest share in the market during the forecast period. Rising 2 wheeler sales and lowering maintenance costs. Two wheeler are getting better acceleration as the combustion efficiency is improved, for the same reason the pollution levels also go down. Spark plug helps in two wheeler to improve in mileage due to better and improved combustion of fuel. Manufacturer are designing special plugs for special engines. In Electrode Material, Platinum is also expected to lead the market growth. The report provides details list of drivers and restraints of the market, which are influencing the market growth. Major driving factors of the Spark Plug market are High rates of fuel have forced competition among the companies to focus on delivering performance-oriented products. Spark plug has revolutionized the automotive industry by lowering the emission, resolving the cold starting problems while boosting the performance of the vehicles. Growing automobile production and sales coupled with increasing preference for dual-fuel option Passenger Vehicles and various ongoing and upcoming technological advancements are expected to boost the sales of automotive spark plugs at global market over the coming years. Increasing R&D activities by major players for development of cost effective product is expected to create new opportunities. Growth in electric vehicle and electrically powered working equipment will act as a restraint to the market.

  2. In terms of region, Asia is a huge market for automobile industries. It has a great demand for 2 wheeler and cheap 2 wheeler vehicles. However, longer term Asia is seen maintaining its position as the fastest- growing region, with China and India leading the charge. Energy and fuel efficiency continue to be the drivers for growth. Environmental awareness in China and economic transformation in India are creating the market opportunity in Asia. Asia Pacific is projected to lead global growth through forecasted period, driven by automotive production and sales in the region with an increase in revenue of 15.4%, though different countries will have different drivers. The Southeast Asia region will be the third-fastest growing market after India and China through 2019. In 2013, NGK Spark Co. Ltd (Japan) held the leading position in the global spark and glow plugs market. The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis. For More Information Visit@ https://www.maximizemarketresearch.com/market-report/global-spark-plug-market/23937/ Scope of the Report for Spark Plug Market Global Spark Plug Market, by Product Type • Hot Spark Plug • Cold Spark Plug Global Spark Plug Market, by Vehicle Type • Two-Wheeler • Passenger Vehicle • Three-Wheeler Global Spark Plug Market, by Electrode Material • Copper • Iridium • Platinum • Others

  3. Global Spark Plug Market, by Sales Channel • Original Equipment Manufacturers (OEM) • Aftermarket Global Spark Plug Market, by Region • North America • Europe • Asia Pacific • Middle East & Africa • South America Key Players Operating in Spark Plug Market • General Motors • NGK Spark Plug Co. Ltd. • Borgwarner Inc. • Robert Bosch GmbH. • Federal-Mogul Corporation • Denso Corporation • UCI-Fram Autobrands • Delphi Automotive • Weichai Power Co. Ltd. • Valeo • Renault S.A • Daimler AG • Volkswagen AG • Nanjing Huade Spark Plug Co., Ltd. • Brisk Spark Plugs

  4. This Report Is Submitted By @Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Name: Lumawant Godage Organization: MAXIMIZE MARKET RESEARCH PVT. LTD. Email: sales@maximizemarketresearch.com Address:Omkar Heights, Sinhagad Road, Manik Baug, Vadgaon Bk,Pune, Maharashtra 411051, India. Contact: +919607195908

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