Spark Plug Market : Size, Share, Competitive Landscape, and Trend Analysis Report 2021-2030

As per the report published by Allied Market Research, 𝐓𝐡𝐞 𝐬𝐩𝐚𝐫𝐤 𝐩𝐥𝐮𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟑.𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟎, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟓.𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟏% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟑𝟎.

𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐝𝐢𝐯𝐢𝐝𝐞𝐬 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐩𝐚𝐫𝐤 𝐩𝐥𝐮𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐭𝐲𝐩𝐞, 𝐞𝐥𝐞𝐜𝐭𝐫𝐨𝐝𝐞 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥, 𝐞𝐧𝐝 𝐮𝐬𝐞, 𝐬𝐚𝐥𝐞𝐬 𝐜𝐡𝐚𝐧𝐧𝐞𝐥, 𝐚𝐧𝐝 𝐫𝐞𝐠𝐢𝐨𝐧 :

On the basis of end use, the automotive segment held the lion's share in 2020, contributing to nearly four-fifths of the market. However, the marine segment is estimated to portray the highest CAGR of 7.3% from 2021 to 2030.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/1873

Based on type, the hot spark plug segment held the largest share in 2020, accounting for nearly two-thirds of the market. However, the cold spark plug segment is projected to manifest the highest CAGR of 5.9% during the forecast period.

The global spark plug market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion's share in 2020, accounting for more than two-fifths of the market. However, the market across Europe is anticipated to showcase the highest CAGR of 6.1% during the forecast period.

Significant factors impacting the growth of the spark plug market comprises rise in demand for fuel efficient vehicles, introduction of stringent norms regarding carbon emissions, increase in demand for passenger vehicles in developing nations, and rise in demand for leisure boats & personal watercraft from marine sector. Moreover, factors such as rise in adoption of electric vehicles and engine downsizing to reduce weight of vehicles are expected to be hinder the market growth. Furthermore, increase in adoption of natural gas-powered vehicles and technological advancements are expected to create new growth opportunities for spark plug market during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/spark-plug-market/purchase-options

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID-19 crisis created uncertainty in the spark plug industry, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. Governments of different regions announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales.

The impact of the COVID-19 pandemic resulted in supply-chain disruptions causing low sales of passenger cars across the globe, which, in turn, reduced the demand for peripherals, such as spark plugs. Several automobile manufacturers faced shortage of components and materials leading to delay in production of vehicles.

However, growth in sales of commercial vehicles is observed, which, in turn is anticipated to be contributing in the growth of the market post pandemic. Various countries have introduced initiatives to revive the automobile industry in their region during the COVID-19 pandemic.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/1873

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Denso Corporation,
E3 Spark Plugs,
Ford Motor Company,
General Motors Company,
Marelli Holdings Co., Ltd.,
NGK Spark Plug Co., Ltd.,
Robert Bosch GmbH,
Tenneco Inc.,
Valeo S.A.,
Weichai Power Co., Ltd.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐒𝐞𝐦𝐢𝐜𝐨𝐧𝐝𝐮𝐜𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 -
https://www.prnewswire.com/news-releases/automotive-semiconductor-market-to-reach-113-94-billion-globally-by-2030-at-11-8-cagr-allied-market-research-301434802.html

𝐅𝐥𝐞𝐱 𝐅𝐮𝐞𝐥 𝐄𝐧𝐠𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 -
https://www.prnewswire.com/news-releases/flex-fuel-engine-market-to-garner-105-11-billion-globally-by-2030-at-5-6-cagr-allied-market-research-301439341.html

𝐑𝐚𝐢𝐥𝐰𝐚𝐲 𝐓𝐫𝐚𝐜𝐭𝐢𝐨𝐧 𝐌𝐨𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 -
https://www.prnewswire.com/news-releases/railway-traction-motor-market-to-hit-48-72-billion-globally-by-2030-at-4-4-cagr-allied-market-research-301468317.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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