Spark Plug Market Demand, Insight, Analysis, Opportunities, Segmentation bY 2022

Global spark plug market is expected to reach $2,904 million by 2022, growing at a CAGR of 4.2% during the forecast period 2014 - 2022. Spark plug is an electrical device threaded into the cylinder of spark ignition engine, which produces spark at the required time to ignite the combustible air-fuel mixture in the cylinder bore. The device comprises shell, resistance, electrodes, and insulator. During the engine operation, when high tension current flows through the center electrodes, it ionizes the gas present between the electrode gap, producing spark. The modern spark plug is designed to deliver a powerful ignition spark around 500-3,500 times per minute. Temperature at the tip of the spark plug is normally between 500C and 800C.

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The market segmentation is based on electrode material, application, and geography. Electrode material segment is divided into copper, platinum, and iridium. On the basis of application, the market is categorized into automobile, marine, industrial, and others (working equipment, brush cutters, scythes, mowers, saws). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is divided into the U.S., Canada, and Mexico, whereas Europe is classified into Germany, France, Italy, UK, and rest of Europe. Asia-Pacific is further segmented into China, Australia, Japan, India, and rest of Asia-Pacific. Latin America, Middle East, and Africa are considered under LAMEA.

Increase in sales and production of gasoline powered vehicles globally and rise in number of petrol-based generators, small & recreational boats, and jet skis drive the market growth. However, technical advancements to downsize automotive engines and growth in penetration of electric vehicle & electrically powered working equipment such as mowers and saws hinder the growth of the spark plug market. Irrespective of these challenges, increase in demand for natural gas-powered vehicles, technological advancements, such as new electrode material, are expected to create numerous opportunities for the market players, thus boosting the market growth.

Major Market Players:
• NGK Spark Plug Co. Ltd
• Federal-Mogul Corporation
• Denso Corporation
• Robert Bosch Gmbh
• FRAM Group IP LLC (Autolite)
• Enerpulse Technologie
• Stitt Spark Plug
• Acdelco Corporation
• E3 Sparkplugs
• Zhuzhou Torch Spark Plug
• Weichai Power Co. Ltd.
• MSD Performance
• Ford Motor Company and Valeo

Key Market Segments
• By Application
o Automobile
o Marine
o Industrial
o Others (Working Equipment, Brush Cutters, Scythes, Mowers, Saws)
• By Electrode Material
o Copper
o Iridium
o Platinum

By distribution channel segment, the market is segmented into original equipment manufacturer (OEM) and aftermarket. Aftermarket segment accounted for the highest market share in 2016, and is anticipated to continue this trend. Rise in average life span of vehicles, due to the advancement in technology and launch of new advanced tubeless tires in market, is driving the aftermarket tubeless tire market. Moreover, original equipment manufacturer (OEM) segment is expected to grow with lucrative growth rate as compared to aftermarket, due to rise in production of vehicles and increasing number of manufacturing facility of automotive OEM in developing region.

Key Benefits of the Report
• The report includes an extensive analysis of the factors that drive as well as restrain the global spark plug market.
• The market projections from 2014 to 2022 are included along with the affecting factors.
• The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the situations prevailing in the market.
• An in-depth analysis of key segments demonstrates stakeholders with different types of electrode material and application of spark plug.
• Competitive intelligence highlights the business practices followed by leading market players across various geographies.

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