Automotive Spark Plugs And Glow Plugs Market Size

Statistics for the 2023 & 2024 Automotive Spark Plugs And Glow Plugs market size, created by Mordor Intelligence™ Industry Reports. Automotive Spark Plugs And Glow Plugs size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Automotive Spark Plugs And Glow Plugs Industry

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Automotive Spark Plugs And Glow Plugs Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.50 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Automotive Spark Plugs And Glow Plugs Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Automotive Spark Plugs And Glow Plugs Market Analysis

The Automotive Spark Plugs and Glow Plugs market is valued at USD 7.50 billion in the current year. It is anticipated to grow to USD 9.77 billion by the next five years, registering a CAGR of 4.5% in terms of revenue during the forecast period.

Over the medium term, with the increased need for personal and individual mobility, both new and aftermarket sales are set to improve drastically, consequently improving the market economics after the pandemic. The expected increase in demand for heavy materials transport is bound to improve new and aftermarket sales of spark plugs and glow plugs.

One of the major factors driving the growth of the market studied is the increasing demand and sales of commercial vehicles (owing to the rise in the e-commerce sector, resulting in growth in the logistics industry and construction sector). However, factors such as growing penetration and demand for electric vehicles, as well as functional issues, may hinder the growth of the market studied.

According to the Eurostat, about 75% of inland cargo transports within the European Union, which translates to about 1,750 billion metric ton-kilometers (t km), 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 is continually increasing in the region. It is owing to the growing logistics industry, as well as the increasing usage of light commercial vehicles, such as vans (for ride-hailing services).

Platinum and Iridium-based spark plugs are the widely used varieties of which iridium-based cold-type spark plugs are majorly used in high-performance engines. On the other hand, the demand for factory-fitted glow plugs is observing a decline in the sales of sedans, owing to the transformation to down-sized gasoline engines from conventional diesel engines.

Spark Plugs and Glow Plugs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)