Rising Demand for Lightweight Auto components to Expand Spark Plug Market 2021 | Business Trends, COVID – 19 Impact Analysis, Emerging Technologies, Size, Industry Profit Growth, Top Key Players and Regional Study 2025

Market Synopsis:

Spark plugs refer to auto components that deliver electric current from ignition chamber to combustion chamber. It facilitates the lighting of compressed fuel mixture which helps in moving the vehicle. Thus, it is one of the key components of automobiles is likely to witness rising sales in the upcoming years. According to the observation offered by Market Research Future (MRFR), the global spark plug market is presumed to expand at 5% CAGR over the forecast period 2018 to 2025. It also highlights that the revenues earned by the market are likely to touch USD 6.5 Bn mark by the close of the review period.

The spark plug market is supposed to witness rising demand over the next few years. This rise in demand can be attributed to the rising demand for automobiles in developed and developing regions. Economic development and rising standards of living have led to a drastic increase in the sales of passenger cars. This, in turn, has been assessed to drive the augmentation of the spark plug market in the foreseeable future.  The governments are also investing in the expansion of public transportation systems. These factors are prognosticated to lead the market proliferation in the coming years. Thus, the development of the automotive industry is anticipated to influence the expansion of the spark plug market positively.

Innovations are being introduced in product lines to cater to the need for fuel-efficient technologies. Governments all over the world have implemented stringent regulations regarding carbon emissions. These factors have paved the way for the development of efficient products that fit in the dynamic changes being introduced in the automotive industry. This, in turn, is projected to influence the growth of the spark plug market in the coming years. In addition, the shift towards lightweight auto components is also anticipated to contribute to the development of the spark plug market in the years to come. Electric cars resonate huge opportunities and its rising demand is expected to catapult the spark plug market on upward trajectory.

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Market Segmentation:

On the basis of product type, the spark plug market has been bifurcated into hot spark plug and cold spark plug.

On the basis of material, the spark plug market has been segmented into platinum, copper, and iridium spark plug.

On the basis of sales channel, the spark plug market has been divided into OEM and aftermarket.

On the basis of application, the spark plug market has been segmented into marine, industrial, automotive, and others.

Regional Analysis:

The regional assessment of the global spark plug market is covered in the report for the following segments – North America, Europe, Asia Pacific, and the Rest of the World (RoW). These regions are also studied on the basis of country-level markets. Asia Pacific is the highest earning segment of the global market. The presence of a developing automotive industry in the region is projected to influence the regional spark plug market positively. Europe is also expected to earn considerable profits due to the advancements in the automotive industry infrastructure. Country-level markets such as the U.K. and Germany are poised to act as growth catalysts of the regional market.

Competitive Dashboard:

NGK Spark Plug Co. Ltd (Japan), Borgwarner Inc. (US), Federal-Mogul Corporation (US), Denso Corporation (Japan), General Motors (US), Robert Bosch Gmbh (Germany), Delphi Automotive (Ireland), Weichai Power Co. Ltd (China), Valeo (France), and FRAM GROUP IP LLC. (US) are few of the key players of the global spark plug market. These players are investing in the latest technologies to gain edge over other competitors.

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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