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The Spark Plugs and Glow Plugs Market is segmented by Product Type (Hot Spark Plug, Cold Spark Plug, Metal Glow Plug, and Ceramic Glow Plug), Vehicle Type (Passenger Cars and Commercial Vehicles), Sales Channel (OEM and Aftermarket), and Geography.
Fastest Growing Market:
Greater Than 5.5 %
The Spark plugs and Glow Plugs market is anticipated to register a CAGR of over 5.5%, during the forecast period (2020 – 2025).
Automotive engines are commonly classified into two major categories - gasoline engines, and diesel engines. Spark plugs are installed in the cylinders of gasoline engines, while glow plugs are used in cylinders of diesel engines to ensure enough heating during the cold start, by a heating coil. The spark plugs and glow plugs market is segmented by Product type, Vehicle type, Sales channel, and Geography.
The scope of the report includes:
|Hot Spark Plug|
|Cold Spark Plug|
|Metal Glow Plug|
|Ceramic Glow Plug|
Report scope can be customized per your requirements. Click here.
The electric vehicle market has been witnessing a healthy growth in the recent years, with about 1.1 million units of battery electric vehicles (BEVs) sold during the first half of 2019 representing a 46% increase as compared to 2018.
As a result of the aforementioned reasons, the automakers have been continually working and focusing to increase their expenditure on the R&D of electric vehicles, which in turn, is aiding the OEMs to market electric vehicles in the future.
The governments across the world are pushing the EV envelope to reduce the rising pollution from fuel-powered vehicles.
The premium carmakers, like JLR and Volvo, have also decided to electrify all their vehicles by 2020. In addition, about 200 new EV model launches have been announced in 2019.
The push is coming from the other end too. A coalition called ‘EV100’ (of large MNCs, including Unilever, DHL, and Ikea,) wants to make electric transport more popular (and thereby, the new normal). It wants to use its collective power and influence to build its demand, cut costs for EVs, and send clear directional signals to automakers.
Thus, the rising trend of electrification of vehicles is expected to slightly hinder the factory fitted spark and glow plug’s market growth.
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According to Eurostat, about 75% of inland cargo transports within the European Union, which translates to about 1,750 billion metric ton-kilometer (tkm), takes place by road. In some European countries, this percentage goes as high as 90%, or more.
As a result, the demand for commercial vehicles and subsequently the glow plugs from OEM and aftermarket channels has been continually increasing in the region, owing to the growing logistics industry, as well as the increasing usage of light commercial vehicles, such as vans (for ride hailing services).
The underlying factor driving the growth of glow plugs for light commercial vehicle market in Europe is the increased preference for pickup trucks and small vans, over heavy-duty trucks and railways for logistics.
Thus, the demand for lightweight vehicle components to integrate into light commercial vehicles is expected to rise significantly during the forecast period.
With the regulations mandating the LCVs to stay within the stipulated weight limit, it has become critical for the OEMs to focus on making LCVs with lighter materials.
Additionally, the rapidly growing e-commerce in Europe represents a central pillar for the Digital Single market and reflects the advancements in the e-tailing sector (which is witnessing the expansion of well-organized retail spaces).
As the e-commerce industry continues to witness growth across Europe, the demand for a more advanced distribution network is increasing.
As the market continues to expand, the demand for pick-up vans, small trucks, and other LCVs is also likely to increase, as freight transportation (between 50 km and 1,999 km) accounted for 89.1% of the total freight transportation in 2017.
Apart from Europe, the Asia-Pacific region is also experiencing a boom in the sales of commercial vehicles, owing to the growing e-commerce resulting in the growth of the logistics, construction, and mining industries.
Thus, based on the aforementioned developments, the demand for glow plugs is expected to increase in the future.
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The Spark plugs and Glow plugs market is dominated by several players such as General Motors (AC Delco Corporation), DENSO Corporation, , NGK Spark Plug Co., Ltd, Robert Bosch GmbH, Tenneco Inc., BorgWarner Inc., WEICHAI POWER CO., LTD., These Companies are expanding their business by new innovative auto parts, so that they can have edge over their competitors.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Hot Spark Plug
5.1.2 Cold Spark Plug
5.1.3 Metal Glow Plug
5.1.4 Ceramic Glow Plug
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Sales Channel
5.4.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.4.4 South America
220.127.116.11 Rest of South America
5.4.5 Middle-East and Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 General Motors
6.2.2 DENSO Corporation
6.2.3 NGK Spark Plug Co., Ltd
6.2.4 Robert Bosch GmbH
6.2.5 BorgWarner Inc.
6.2.6 Autolite (Fram Group LLC)
6.2.7 Federal-Mogul Powertrain
6.2.8 ACDelco Corporation
6.2.9 KLG Spark Plugs
6.2.10 Wellman glow plugs Co.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS