Press release
Emerging Trends to Drive Automotive Glow Plug Market Growth at 3.6% CAGR Through 2029
Automotive Glow Plug
Automotive Glow Plug Market Size Growth Forecast: What to Expect by 2025?
The market size for automotive glow plugs has shown consistent growth in the past years. Forecasts predict that it will expand from a valuation of $3.98 billion in 2024 to $4.12 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 3.7%. Factors such as increased vehicle sales, strict emissions regulations, popularity of diesel engines, cold-weather regions, and aftermarket sales have contributed to its growth in the historical period.
How Will the Automotive Glow Plug Market Size Evolve and Grow by 2029?
The market size of automotive glow plugs is predicted to consistently expand in the upcoming years. The market is expected to reach a net worth of $4.75 billion by the year 2029, with a compound annual growth rate (CAGR) of 3.6%. Factors contributing to this growth through the projection period include ongoing emission regulations, the rise of electric vehicles, global economic patterns, urbanization, commercial fleets, and a focus on fuel efficiency. Key market trends during this forecast period involve higher emphasis on lightweight materials to improve fuel efficiency, the increasing appeal of cold-start systems in electric vehicles, the expansion of aftermarket sales channels, focus on sustainable and eco-friendly automotive components, and partnerships for advancing research and development in glow plug technology.
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What Drivers Are Propelling the Growth of Automotive Glow Plug Market Forward?
The anticipated increase in vehicle production paves the way for the expansion of the car glow plug market. The term "vehicle production" is used to described the creation of mass-produced identical car models that are legally allowed on public roads and available for public purchase. Glow plugs, heater devices in diesel engines, play a key role in starting the engine during cold weather by heating incoming fuel and air for effective fuel ignition in the engine. For example, the Board of Governors of the Federal Reserve System, a government agency based in the US, reported a significant increase in car production in the US in June 2023, with an upsurge from 10.91 million to 11.87 million units. Hence, the growth of the automotive glow plug market is largely propelled by the escalating production of vehicles.
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What Are the Key Trends Driving Automotive Glow Plug Market Growth?
In the automobile glow plug market, leading corporations like Nova Engines are investing in the creation of groundbreaking products such as Nova Glow Plug Turbo Offroad N.5 and Nova Glow Plug Turbo Offroad N.6. These products are focused on enhancing performance, longevity, and the dependability of engines. Two plugs are included in each package, exhibiting their performance and consistency features. In July 2022, Nova Engines, a competitive micro engines manufacturing and labour cooperative based in Italy, unveiled these glow plugs. Nova Glow Plug Turbo Offroad N.5, designed specifically for off-road usage, integrates controlled expansion materials and a new pressure-resistant filament. Similarly, Nova Glow Plug Turbo Offroad N.6, also tailored for off-road use, is built from superior materials to deliver a steady performance. Both variants feature an ensured airtight seal to facilitate efficient fuel combustion in the engine, thereby improving engine performance, particularly under cold weather conditions.
What Are the Key Segments in the Automotive Glow Plug Market?
The automotive glow plug market covered in this report is segmented -
1) By Type: Metal Glow Plug, Ceramic Glow Plug
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Metal Glow Plug: Standard Metal Glow Plug, Dual-Coil Metal Glow Plug
2) By Ceramic Glow Plug: High-Temperature Ceramic Glow Plug, Quick-Start Ceramic Glow Plug
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Who Are the Key Players Shaping the Automotive Glow Plug Market's Competitive Landscape?
Major companies operating in the automotive glow plug market report are Ford Motor Company, General Motors Company, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Hyundai Mobis Co. Ltd., DENSO Automotive Systems Australia Pty Ltd., Mitsubishi Electric Corporation, Valeo SA, Tenneco Inc., Kyocera Corporation, BorgWarner Inc., Marelli Holdings Co. Ltd., Federal-Mogul Corporation, Hella KGaA Hueck & Co., Niterra Co. Ltd., Ningbo Tianyu Auto Parts Co. Ltd., Yura Tech Co. Ltd., Hidria doo., Prenco Progress & Engineering Corporation, Ningbo Xingci Thermal Electric Appliances Co. Ltd., ACDelco, Cummins Inc., Autolite, Yanmar Co. Ltd., Dreik Auto-Parts Co. Ltd, Wenzhou Bolin Automobile Parts Co. Ltd., E3 Spark Plugs, Zenith Industries, Chongqing Le-Mark Technology Co. Ltd., China Ningbo Fushi Glowplug Co.Ltd.
What Geographic Markets Are Powering Growth in the Automotive Glow Plug Market?
Asia-Pacific was the largest region in the automotive glow plug market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive glow plug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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