Global Automotive Spark and Glow Plugs Market, 2016 - 2022

Transcription

Persistence Market Research
Global Automotive Spark & Glow Plugs
Market is Expected to be Valued for US$ 6.6
Bn by 2022: Persistence Market Research
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Persistence Market Research Released New Market Report According to a new market report
published by Persistence Market Research ‘Global Market Study on Automotive Spark
and Glow Plugs: Ceramic Glow Plugs to be the Dominant Segment during the
Forecast Period 2016 - 2022, the global automotive spark & glow plugs market is
estimated to be valued at US$ 5.6 Bn by 2016 end, and is expected to increase at a
moderate CAGR during the forecast period (2016–2022).
The automotive spark plug is a device designed to fit in each cylinder of a gasoline-powered
internal-combustion engine to produce the electric spark for ignition of the air-fuel mixture.
The automotive glow plug is a device fitted into each cylinder of a diesel engine, with a
heating element to heat incoming fuel and air to ensure efficient combustion when the
engine is cold. Automotive spark & glow plugs are generally classified by type into hot spark
plugs, cold spark plugs, metal glow plugs and ceramic glow plugs. On the basis of vehicle
type, the market has been segmented into passenger cars, light commercial vehicles (LCV)
and heavy commercial vehicle (HCV). The market is segmented into OEM (original
equipment manufacturer) and aftermarket, on basis of the sales channel.
Increasing automotive production & vehicle parc, upcoming stringent fuel efficiency and
emission norms are expected to emerge as major factors driving the growth of automotive
spark & glow plugs market during the forecast period. Long-term business contracts of spark
& glow plugs manufacturers with OEMs helps them reduce production costs and increase
profit margins and also shield them from price fluctuations of raw material. Such factors are
further expected to fuel the growth of the market over the forecast period. However, rising
demand for electric vehicles due to increasing environmental awareness, fluctuating fuel
prices and ongoing inclination towards engine downsizing are projected to impede the
growth of the global automotive spark & glow plugs market during the forecast period.
Global automotive spark & glow plugs demand is expected to increase to 893,437 thousand
units by 2022 at a moderate CAGR during the forecast period.
In terms of market value, Asia-Pacific is expected to dominate the global automotive spark &
glow plugs market over the forecast period. Europe is expected to be the second-largest
market, accounting for revenue share of 22.0% of the global estimated market value by
2016 end. MEA automotive spark & glow plugs market is slated to expand at the highest
CAGR in terms of value during the forecast period.
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On the basis of product type, the ceramic glow plug segment is expected to expand at a
comparatively higher value CAGR during the forecast period. The growth of this segment is
primarily driven by increasing demand for diesel engines in developing countries such as
China, Mexico and Brazil. On the basis of vehicle type, revenue contribution of the passenger
cars segment is expected increase at the CAGR of 2.3% during the forecast period. On the
basis of sales channel, aftermarket segment is expected to have dominant revenue share
over the forecast period.
View Detail Report With TOC: http://www.persistencemarketresearch.com/marketresearch/automotive-spark-glow-plugs-market.asp
Expansion of existing manufacturing facilities and collaboration with technology providers
are major trends observed among key manufacturers to increase their market presence and
enhance their product portfolio. Prominent players in the global automotive spark & glow
plugs market include NGK Spark Plug Co. Ltd, Federal-Mogul Corporation, Denso Corporation,
Robert Bosch GmbH, Borgwarner Inc., Weichai Power Co., Ltd, Valeo SA, ACDelco
Corporation, Magneti Marelli Aftermarket N.A.
The global automotive spark & glow plugs market is segmented as follows:
By Product Type

Hot Spark Plug

Cold Spark Plug

Metal Glow Plug

Ceramic Glow Plug
By Vehicle Type

Passenger Cars

LCV (Light Commercial Vehicle)

HCV (Heavy Commercial Vehicle)
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By Sales Channel

OEM (Original Equipment Manufacturer)

Aftermarket
By Region

Asia Pacific

Europe

North America

Latin America

Middle East & Africa
Market History:
The automotive spark plug is a device designed to fit into each cylinder of a gasolinepowered internal combustion engine to produce an electric spark for ignition of the air-fuel
mixture. The automotive glow plug is a device fitted into each cylinder of a diesel engine,
with a heating element to heat incoming fuel and air to ensure efficient combustion when
the engine is cold. Automotive spark & glow plugs are segmented on the basis of type into
hot spark plugs, cold spark plugs, metal glow plugs and ceramic glow plugs. The global
automotive spark and glow plugs market is expected to expand at a CAGR of 2.1% in terms
of value over the forecast period (2016–2022), to reach a market value of US$ 6.6 Bn by
2022.
Automotive spark and glow plugs market growth is influenced by a number of factors such
as increasing automotive production and vehicle parc, upcoming stringent emission norms
and rising demand for high fuel efficiency. Long-term business contracts of spark & glow
plug manufacturers with suppliers to reduce production costs and increase profit margin is
another factor expected to fuel the growth of the market over the forecast period. Increasing
replacement interval for spark plugs, engine downsizing and focus of prominent players on
business expansion and collaboration with technology providers are some of the prominent
trends observed in the market.
Persistence Market Research, in its latest report titled ‘Automotive Spark and Glow Plugs
Market: Global Industry Analysis and Forecast, 2016–2022’, has segmented the global
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automotive spark and glow plugs market into product type, vehicle type, sales channel and
region. On the basis of product type, the market is segmented into hot spark plug, cold
spark plug, metal glow plug and ceramic glow plug. On the basis of vehicle type, the market
is segmented into passenger cars, LCV and HCV. On the basis of sales channel, the market is
segmented into OEM and aftermarket. On the basis of geographic regions, the automotive
spark and glow plugs market is segmented into Asia-Pacific, Europe, North America, Latin
America and the Middle East & Africa.
Amongst the aforementioned regions, MEA Automotive Spark and Glow Plugs market is
expected to expand at the highest CAGR of 4.0%, in terms of volume during the forecast
period. Asia-Pacific is expected to account for dominant market volume share of 47.2% by
2022 end in the global automotive spark & glow plugs market. In terms of market volume,
Europe market is expected to depict slow growth during the forecast period. It is slated to
account for a value share of 22.0% by the end of 2016. Revenue contribution of Latin
America to the global automotive spark and glow plugs market is expected to increase at a
CAGR of 3.0% over the forecast period.
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About Us:
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated
research, custom research, and consulting services. PMR boasts market research expertise across the
Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages,
Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The
company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data
that precisely corresponds to clients’ business needs.
Contact Us:
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7th Floor, New York City,
NY 10007, United States,
USA - Canada Toll Free: 800-961-0353
Email: [email protected]
Web: http://www.persistencemarketresearch.com
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Global Automotive Spark and Glow Plugs Market, 2016 - 2022

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