Global Spark Plug Market is valued at USD 7.88 Billion in 2021 and is expected to reach USD 11.62 Billion by 2028 with a CAGR of 5.70% over the forecast period.
The spark plug is used to ignite the combustion of the compressed fuel-air mixture during the compression cycle in the spark ignition engine and it is the task of the spark plug to generate this spark. In the combustion chamber, a flame front spreads from the spark and fills the combustion chamber until the air-fuel mixture burns and the heat released increases the temperature inside of the combustion chamber, there is a rapid buildup of pressure in the cylinder and the piston is forced downwards. The movement is transferred via a connecting rod to the crankshaft; this drives the vehicle via the clutch, the gears, and the axles. The spark plug is widely used in the automotive, marine, and industrial sectors.
The rising demand and production of automobiles due to the growing population and increasing consumer disposable income has resulted in the growth of the spark plug market. Increased usage of fuel-based boats, other fuel-driven machinery, generators, and jets are also boosting the growth of the spark plug market. Increasing Government initiatives to reduce carbon emissions by using electric vehicles for public transport also augment the market growth for spark plugs. However, the increasing trend of engine downsizing coupled with the growing demand for electric vehicles may hinder the growth spark plug market within the forecast period. Despite that, technological advancements to improve performance and ignitability can provide opportunities for the growth of the spark plug market in the forecast period.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 7.88 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||5.70%|
|Market Size Expected in 2028:||USD 11.62 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Federal-Mogul Corporation, Denso Corporation, BorgWarner Inc., Robert Bosch Gmbh, ACDelco, Weichai Power Co. Ltd., Megenti Marelli S.p.A, NGK Spark Plug Co. Ltd, Valeo, MSD Performance, HELLA GmbH & Co. KGaA, Tenneco Inc., General Motors, Delphi Technologies, SELPLAN, YAMAHA Motor Pvt. Ltd., E3 Spark Plugs, and others.|
|Segments Covered||By Product Type, By Electrode Material, By Application Type, By Demand Category|
|Regional Analysis||North America, U.S., Canada, Europe, Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe, Asia-Pacific, South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC, Latin America, Mexico, Colombia, Brazil, Argentina, Peru, Rest of South America, Middle East and Africa, Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA|
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