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(Transportation-News.com, May 25, 2018 ) Global Spark Plugs Market Information by Product type (Hot Spark Plug and Cold Spark Plug), by Material Type (Copper Spark Plug, Platinum Spark Plug, Iridium Spark Plug, and others), by Market (Original Equipment Market and Aftermarket), by Vehicle Type (Passenger Vehicle And Commercial Vehicle), and by Region - Forecast to 2022
NGK Spark Plug Co. Ltd, Federal-Mogul Corporation , Borgwarner Inc., Denso Corporation, Robert Bosch Gmbh, General Motors (Acdelco Corporation), Delphi Automotive, Valeo, Weichai Power Co. Ltd., and UCI-Fram Autobrands (Autolite) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Spark Plugs Market.
Spark Plugs Market– Overview
The spark from the spark plug triggers the combustion of the compressed fuel-air mixture during the compression cycle. The functional part of the spark plug is concealed within the engine’s combustion chamber; only a part of the insulator and connector are visible from outside. During operation, spark plugs have to deliver outstanding performance in all situations; they must produce a spark reliably, ensure correct cold starts, and prevent misfiring – even under extreme conditions – playing their part in ensuring optimum combustion with low emissions.
Manufacturers and suppliers enter into Long-term business contracts to reduce production costs and increase profit margin, which is further expected to fuel the growth of the market over the forecast period.
According to the International Organization of Motor Vehicle Manufacturers (OICA), the net sales of automobiles have increased from 82 million units in 2012 to 94 million units in 2016. Thus the growth of the automotive spark plugs market is expected to go hand in hand with the automotive industry.
The market is further expected to witness strong growth owing to the technological advancements in spark plugs such as plasma core, E3 high performance and ACIS (Advanced Corona Ignition System) in designing spark plugs.
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Spark Plugs Market– Competitive Analysis
The major manufacturers in the global spark plugs market are dragging their attention towards the development of better products to gain higher market penetration. Prominent players in the market such as Delphi Automotive (U.K.), Valeo S.A. (France), Weichai Power Co. Ltd (China) are focusing on business expansion and collaborating with technology providers, which is restricting the entry of new players in the market. The leading players in the market are adopting mergers and acquisitions as the key strategy. This leads to the creation of strong market players in the industry with wide product range.
Industry/ Innovation/ Related News:
October 2017- NGK Spark Plug Co., Ltd. announced that it will establish an additional production plant in India to strengthen production capability of automotive components. To meet large demand for spark plugs in aftermarket and also to meet more strict emission standards for oxygen sensors for motorcycles, the company decided to invest to the Indian facility. The cost for this capital investment will be approximately 1.7 billion yen, and we will consider further investment along with the demand expansion.
November 2016- Federal-Mogul Corporation developed a new spark plug for gasoline, high BMEP (Brake Mean Effective Pressure) stationary engines. A combination of optimum materials, unique ground electrode geometry and maximum electrode surface area gives the new ‘cold’ plug enhanced thermal characteristics. This resulted in improved electrode durability and increased service life compared with other technologies available in the market.
March 2015- DENSO announced a new product line of spark plugs which is engineered to last more than 100,000 miles on the road, and provide more power and better fuel economy than any other spark plug. The new spark plug possess unique Twin-Tip Technology and patented design, owing to which it delivers far less obstruction to the spark than standard plugs, allowing an omni-directional expansion of the ignition flame.
Spark Plugs Market– Segmentation
The Spark Plugs Market can be segmented in to 2 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Product type - Hot Spark Plug and Cold Spark Plug
Segmentation by Material Type - Copper Spark Plug, Platinum Spark Plug, Iridium Spark Plug, and others
Segmentation by Market - Original Equipment Market and Aftermarket
Segmentation by Vehicle Type- Passenger Vehicle and Commercial Vehicle
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Spark Plugs Market– Regional Analysis
Asia Pacific region is expected to grow the highest in the global spark plugs market. The growth is primarily driven by the growing automobile manufacturing industry, especially in countries, such as China, Korea, and India. The poor road conditions in the developing nations put excessive strain on aging vehicles, which makes major market for aftermarket parts such as spark plugs.
North America region is growing in the spark plugs market with the rise in the number of hybrid and electric cars in the region. The factors driving the growth of this region are increasing sales of new automobiles, gradual shift in the trend from light combustion vehicles to hybrid electric vehicles, technological advancements, and the changes in interest rates & oil prices.
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Table of Contents
REPORT PROLOGUE
INTRODUCTION
RESEARCH METHODOLOGY
MARKET DYNAMICS
SPARK PLUGS MARKET, BY PRODUCT TYPE
SPARK PLUGS MARKET, BY MATERIAL TYPE
SPARK PLUGS MARKET, BY MARKET
SPARK PLUGS MARKET, BY VEHICLE TYPE
SPARK PLUGS MARKET, BY REGION
COMPANY LANDSCAPE
COMPANY PROFILE
MRFR CONCLUSION
APPENDIX
Continued…….
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