The global Spark Plug market, which was estimated at about 798 (USD Million) in 2017 and is predicted to accrue earnings worth 1,498 (USD Million) by 2025, is set to record a CAGR of nearly about 8.23% over 2019-2025.
The global Spark Plug market, which was estimated at about 798 (USD Million) in 2017 and is predicted to accrue earnings worth 1,498 (USD Million) by 2025, is set to record a CAGR of nearly about 8.23% over 2019-2025. The report offers valuation and analysis of Spark Plug market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Million).
Introduction
Spark plug is the equipment supplying power from ignition system to combustion chamber of a spark ignition engine to kindle the compressed air composition through electric spark. In addition to this, spark plug possesses a metal threaded shell, electrically isolated from a central electrode through a ceramic insulator. Apart from supplying electricity, the electronic device can also be utilized in Saab Direct Ignition and also used for measuring cylinder ionization. Apparently, spark plugs finds plethora of uses in furnace as flame igniters.
Market Growth Dynamics
The expansion of spark plug industry over the assessment period can be credited to escalating demand for automobiles. In addition to this, strict laws imposed by government for reducing the GHG emissions will further contribute towards overall market size in the years ahead. Breakthroughs resulting in performance improvement and ignitability will produce new growth avenues for spark plug market over the forecast timeline. Nevertheless, growing engine downsizing pattern and massive popularity of electric vehicles can pose a threat to the expansion of spark plug industry over the assessment period.
Furthermore, oscillating need for gasoline and diesel engines in passenger cars can proliferate the expansion of spark plug industry over the forecast timeline. Apart from this, surge in the number of petrol-based generators, jet skins, and small & recreational boats will prompt the business growth over the anticipated timeframe. Additionally, escalating commercial vehicle demand and need for enhancing the car performance in developing regions will pave a way for the expansion of spark plug industry in the years to come.
Asia Pacific Market To Grow Exponentially During 2019-2025
The expansion of spark plug market in Asia Pacific over the forecast timeline is due to rise in the vehicle on roads across the countries like India, Japan, and China. In addition to this, the accentuated growth in the sub-continent can be attributed to the region being the largest producer & exporter of natural gas as well as gasoline. Apart from this, increase in the use of gas-powered passenger cars in the emerging economies of the Asia Pacific will reinforce the industry growth in the foreseeable future. Countries including Singapore and Thailand are also likely to drive the regional market growth in the upcoming years.
Key participants profiled in the report include Federal-Mogul Corporation, Weichai Power Co. Ltd., NGK Spark Plug Co. Ltd., Robert Bosch Gmbh, Megenti Marelli S.p.A, Denso Corporation, ACDelco, MSD Performance, HELLA GmbH & Co. KGaA, and Valeo.
The global spark plug market is segmented as follows:
By Product Type
By Electrode Material
By Application Type
By Distribution Channel
By Region
The expansion of spark plug industry over the assessment period can be credited to escalating demand for automobiles. In addition to this, strict laws enforced by government for reducing the GHG emissions will further contribute towards overall market size in the years ahead. Breakthroughs resulting in performance improvement and ignitability will produce new growth avenues for spark plug market over the forecast timeline. Furthermore, oscillating need for gasoline and diesel engines in passenger cars can proliferate the expansion of spark plug industry over the forecast timeline. Apart from this, surge in the number of petrol-based generators, jet skins, and small & recreational boats will prompt the business growth over the anticipated timeframe.
According to Zion Market Research report, the global Spark Plug market, which was estimated at about 798 (USD Million) in 2017 and is predicted to accrue earnings worth 1,498 (USD Million) by 2025, is set to record a CAGR of nearly about 8.23% over 2019-2025.
Asia Pacific is likely to make noteworthy contributions towards overall Spark Plug Market revenue over 2019-2025. The growth of the market in the region over estimated timespan can be ascribed to rise in the vehicle on roads across the countries like India, Japan, and China. In addition to this, the accentuated growth in the sub-continent can be attributed to the region being the largest producer & exporter of natural gas as well as gasoline. Apart from this, increase in the use of gas-powered passenger cars in the emerging economies of the Asia Pacific will reinforce the industry growth in the foreseeable future. Countries including Singapore and Thailand are also likely to drive the regional market growth in the upcoming years.
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