Press release
Global Spark Plug Market will multiply at an impressive CAGR of 5.7% By 2024 & Top Key Players Robert Bosch Gmbh, ACDelco, Weichai Power Co. Ltd., Megenti Marelli S.p.A, NGK Spark Plug Co. Ltd, Valeo, MSD Performance and HELLA GmbH & Co. KGaA.
Based on electrode material, the global spark plug market is segmented into copper, iridium, platinum and other material, out of which, iridium segment with 53.1% market share is anticipated to have largest share by the end of 2024. Further, global iridium spark plug market is anticipated to reach USD 4,921.4 Million by the end of 2024 from USD 2,953.1 Million in 2016. In addition to this, global iridium spark plug market is expected to achieve Y-o-Y growth rate of 7.6% in 2024 as compared to previous year. Further, the increase in production of passenger car vehicles in the world and rising utilization of natural gas equipment is envisioned to strengthen the growth of global spark plug market.
The Global Spark Plug Market is expected to grow at a CAGR of 5.7 % over the period 2017-2024. Worldwide sales of spark plugs are anticipated to generate USD 9,267.2 Million in revenue by the end of 2024 as compared to USD 6,012.9 Million in 2016. Factors such as rising awareness about fuel efficiency combined with growing affluent middle class population are believed to fuel the growth of automotive market and are further anticipated for a boom in global spark plug market.
Request Report Sample @ https://www.researchnester.com/sample-request/2/rep-id-297
In regional segment, Asia Pacific was the largest region in the global spark plug market in year 2016 with the highest share of 58.7%. In terms of revenue, the Asia-Pacific Market is estimated to have the largest regional market share of global spark plugs by the end of forecast period. With an increase in automotive industries, Asia Pacific is anticipated to grow at highest pace in overall spark plug market, expanding at a CAGR of 6.6%. Followed by Asia Pacific, North America and Europe are anticipated to expand at a moderate CAGR during forecast period.
Urbanization to Flourish the Market
Global Automotive Industry is booming on the account of urbanization and increasing disposable income. This massive growth of automotive industry is widening the demand for spark plug. Further, this rising sale of automobiles among affluent middle class population in developing regions as well as across the globe is paving the way for the growth of the global spark plug market.
Request for TOC Here @ https://www.researchnester.com/toc-request/1/rep-id-297
Automotive Component Aftermarket Reflects Significant Opportunities
Rising sale of automotive vehicles has led the manufacturers of spark plug to work aggressively on the expansion of their aftermarket business. Further, various spark plug manufacturers such as NGK spark plugs companies are emphasizing more on aftermarket business to consolidate their presence and preserve their market share. This factor is expected to garner the growth of the overall spark plug market during the forecast period. However, availability of low cost spark plugs by local vendors and high number of local manufacturers in regions such as China, Russia and India among others are anticipated to deter the growth of the global spark plug market.
The report titled “Global Spark Plug Market Outlook: Industry Analysis & Opportunity Evaluation 2016-2024” delivers detailed overview of the global spark plug market in terms of product type, by electrode material, by application type, by distribution channel and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
For more details visit @ https://bit.ly/2zJ4SVy
This report also provides the existing competitive scenario of some of the key players of the global spark plug market which includes company profiling of Federal-Mogul Corporation, Denso Corporation, Robert Bosch Gmbh, ACDelco, Weichai Power Co. Ltd., Megenti Marelli S.p.A, NGK Spark Plug Co. Ltd, Valeo, MSD Performance and HELLA GmbH & Co. KGaA. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global spark plug market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Buy This Premium Reports Now @ https://www.researchnester.com/payment/rep-id-297
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Ajay Daniel
Email: ajay.daniel@researchnester.com
U.S. Phone: +1 646 586 9123
U.K. Phone: +44 203 608 5919
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Spark Plug Market will multiply at an impressive CAGR of 5.7% By 2024 & Top Key Players Robert Bosch Gmbh, ACDelco, Weichai Power Co. Ltd., Megenti Marelli S.p.A, NGK Spark Plug Co. Ltd, Valeo, MSD Performance and HELLA GmbH & Co. KGaA. here
News-ID: 1131192 • Views: …
More Releases from Research Nester Pvt Ltd
Chemical Fertilizers Market Outlook By Industry Size, Share, Revenue, Regions An …
The chemical fertilizers market has been segmented into macronutrients, micronutrients, application and forms. Based on macronutrients, the market has been segmented into nitrogen based fertilizers, phosphate based fertilizers and potash based fertilizers.
Among these segments, the nitrogen based fertilizers are estimated to dominate the market by holding the largest share of approximately 50%. This can be attributed to the absorption of nitrogen by plants. In 2013, the demand for nitrogen…
Glass Coating Market Overview By Share, Size, Industry Players, Revenue And Prod …
The global glass coating market is segmented by coating type into pyrolytic coating, magnetic sputtering coating and sol-gel coating; by technology into liquid glass coating and nano glass coating; by application into construction, paints & coating, automotive, aviation and others and by regions.
According to Federal Reserve Bank of Chicago represents increase in sales of light vehicle in China by 2.1%, Latin America by 6.2%, Europe by 2.6%, and Rest…
Insect Repellent Market Outlook By Industry Size, Share, Revenue, Regions And To …
The global insect repellent market is segmented by repellent type into coils, liquid vaporizers, sprays/aerosol, mats, cream and oil; by ingredient into natural and synthetic; by sales channel into online and offline and by regions. The insect repellent market is anticipated to mask a CAGR of 8.3% during the forecast period i.e. 2019-2027.
The rising penetration of insect repellents in untapped rural markets across the developing countries as well as…
Waterproofing Chemicals Market 2017 Share Growing Rapidly With Latest Trends, De …
The global waterproofing market is segmented on the basis of type, application and end-use. The market is segmented on the basis of type, it is segmented into Bitumen, PVC, TPO and EPDM. Bitumen leads the product segment in 2017 on the account of superior properties which include high viscosity, resistance to UV light and better binding nature. On the basis of application, it is segmented into Roofing and Walls, Flooring,…
More Releases for Spark
Spark Plug Market to Reach $2,904 Million,by 2022| Key Player -Enerpulse Technol …
Spark Plug Market Report, published by Allied Market Research, projects that the global spark plug market is estimated to reach $2,904 million by 2022, registering a CAGR of 4.2% during the period 2014-2022. Automobile segment is expected to maintain its dominant position throughout the forecast period. Asia-Pacific accounted for the highest share of 46% in 2015, and is anticipated to maintain its dominance throughout the forecast period.
Spark plug is an…
Korea & China Spark Plug Market Expected to Reach $947 Million, by 2023 | Key Pl …
According to a new report by Allied Market Research, titled, Korea & China Spark Plug Market by Electrode Material and Application: Opportunity Analysis and Industry Forecast, 2017-2023, the Korea & China park plug market was valued at $670 million in 2016, and is projected to reach at $947 million by 2023, growing at a CAGR of 5.2% from 2017 to 2023.
Download Report Sample (PDF with Insights, Charts, Tables, Figures) at:…
Spark Plug Market Analysis with top key player like Robert Bosch GMBH, Denso Cor …
Global Info Reports has discharged a most recent report in view of exhaustive research on Spark Plug market. This top to bottom report talks about this current industry's market in types of review/definition, application, order, expectations relating quality and volume, and future forecasts. It likewise noticeably qualities the present circumstance and viewpoints with modern and monetary perspective. Besides, it contains current occasions, most recent market patterns, schematic portrayal of the…
Spark Plug Market 2018 Analysis The Major Eminent Players: Federal-Mogul Corpora …
The Spark Plug Market was worth USD 2.07 billion in 2014 and is expected to reach approximately USD 3.04 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.36% during the forecast period. Start plug is an electrical device strung into the cylinder of spark ignition engine, which creates spark at the expected time to touch off the ignitable air-fuel blend in the cylinder bore.…
Global Spark Plug Future Market 2018-2023 Denso, NGK Spark Plugs, Autolite, Bosc …
The research report “Spark Plug Market Report 2018-2023” offers comprehensive knowledge on the Spark Plug market. It analyses the important factors of the Spark Plug based on present industry situations, Spark Plug demands, business strategies utilized by Spark Plug players and the future prospects from various angles in detail.
Industry analysis is a market assessment tool used by business and analysts to understand the complexity of an industry. Optical Pulse…
Spark Plug Market Trends with Major Eminent Vendors: Federal-Mogul Corporation, …
The Spark Plug Market was worth USD 2.07 billion in 2014 and is expected to reach approximately USD 3.04 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.36% during the forecast period.
Spark Plug Market - Competitive Insights:
The leading players in the market are Federal-Mogul Corporation, Ngk Spark Plug Co Ltd, Enerpulse Technologie, Autolite, Denso Corporation, Zhuzhou Torch Spark Plug, Stitt Spark Plug, Acdelco and…
