Spark plugs play a major role in the maintenance of cars and other automobile. As a component, spark plugs are attuned with the ignition of combustion engines. Rapidly growing number of cars being manufactured in the world attest that fact the future of global spark plugs market is anticipated to be promising. Since spark plugs perform a key function (ignition) in the working of an automobile engines, manufacturers of automotive components will continue to increase their production capacity, and with it, improve the quality of spark plug products being offered.
Global Spark Plug Market: Drivers & Restraints
Spark plugs are an integral part of combustion engines, which is why their demand will continue to surge in parallel with the number of automobiles being manufactured globally. The global demand for spark plugs is also driven by increasing production of high-performance automotive components in the world. Worn out spark plugs need to be replaced over time, which further adds to their global sales. Also, manufacturers of automobile components are extending their product portfolio by offering spark plugs engineered with advanced technologies, which incidentally favours the growth of global spark plug market. Such enhanced spark plugs are gaining popularity for their improved functioning in flexible temperature/heat range.
A key challenge for the growth of global spark plug market is volatile prices of core materials. Undulating prices of copper, iridium, platinum and other noble metals across several regions in the world is inhibiting an overall expansion of global spark plugs market. Additionally, the presence of spark plugs as key automotive components is at risk on the account of growing use of alternatives such as laser igniters and plasma-based ignition plugs.
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Key Segmentation of Global Spark Plug Market
The global market for spark plugs is segmented on the basis of product types, materials, distribution channels and applications.
Product-wise, the global spark plug market can be bifurcated into:
- Hot spark plug
- Cold spark plug
Global spark plug market is also segmented on the basis of materials such as,
- Others (e.g. nickel-iron, chromium and other noble metals)
Based on the distribution channels, the global spark plug market is segmented into:
- Original Equipment Manufacturers (OEMs)
- Aftermarket distributors
Based on the application, the global spark plug market is segmented into:
- Passenger Cars
- Commercial Vehicles
Global Spark Plug Market: Regional Overlook
Geographically, growth of the global market for spark plug can be segmented into five key regions, viz., North America, Latin America, Europe Asia-Pacific (APAC), and the Middle East & Africa (MEA).
- North America (U.S., Canada)
- Latin America (Brazil and Mexico)
- Europe (U.K., France, Germany, and rest of Europe)
- Asia-Pacific (China, South Korea, Japan, Taiwan, and rest of APAC)
- Middle East and Africa (GCC members, Levant countries, and rest of MEA)
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Prominent Manufacturers of Spark Plugs
NGK Spark Plugs Co. Ltd. is one of the leading manufacturer of spark plugs in the world. Other key players in the global spark plug market include, ACDelco (owned by General Motors), Auto-Lite (FRAM Group, LLC), BERU Group, BorgWarner Inc., Robert Bosch GmbH, Denso Corporation, and Federal-Mogul Corporation.
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