05 Dec 2020
The spark plug is used to ignite the combustion of the compressed fuel-air mixture during the compression cycle in spark ignition engine and it is the task of the spark plug to generate this spark. In combustion chamber, a flame front spreads from the spark and fills the combustion chamber until the air fuel mixture burned 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 connecting rod to the crankshaft; this drives the vehicle via the clutch, the gears and the axles. The spark plug is widely used in automotive, marine and industrial sector.
Spark Plug Market is valued at USD 6678.1 Million in 2018 and expected to reach USD 9779.1 Million by 2025 with a CAGR of 5.6% over the forecast period.
The rising demand and production of automobiles due to the growing population and increasing consumer disposable income has resulted in the growth of spark plug market. Increased usage of fuel-based boats, other fuel driven machinery, generators and jets is also boosting the growth of spark plug market. Increasing Government initiatives to reduce carbon emission by using electric vehicle for public transport is 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. In spite of that, technological advancements to improve the performance and ignitability can provide opportunities for the growth of spark plug market in the forecast period.
Top Spark Plug Manufactures in Global Market
Federal-Mogul Corporation is an American developer established in 1899 and headquartered in Southfield, Michigan, United States. Specialties in Power Cylinder Components, Thermal and Abrasion Protective Sleeves, Valvetrain Components, Engine Bearings, Engine Seals and Gaskets, and Vehicle and Industrial Ignition. Federal-Mogul Canada has 200 employees and a Revenue of $39 Million.
DENSO Corporation is a global automotive components manufacturer established in 1947 and headquartered in Kariya, Japan. Specialties in Climate Control, Head-up Display, Automotive Aftermarket, Human Machine Interface, Electric/Hybrid Components, Safety, Robotics, V2X (Connected Vehicle) Technology, Wireless Charging, Mobility, Electrification, and Connected Cars. Denso Corporation has 170,932 Employees and a Revenue of $49 Billion.
BorgWarner Inc. is an American worldwide automotive industry established in 1928 and headquartered in Auburn Hills, Michigan, United States. Specialties in Key technologies for all types of propulsion systems, including combustion, hybrid, and electric. Borgwarner has 2900 employees and a revenue of $10 Billion.
Robert Bosch GmbH, or Bosch, is a German multinational engineering and technology company established in 1886 and headquartered in Gerlingen-Schillerhöhe, Baden-Wuerttemberg. Specialties in Mobility Solutions, Industrial Technology, Consumer Goods, Energy and Building Technology, Connected Industries, Internet of Things, Automated Driving, and Smart Home. Bosch has 398,150 Employees and a revenue of $92 Billion.
ACDelco is an American automotive parts brand owned by General Motors established in 1899 and headquartered in Grand Blanc, Michigan, United States. Specialties in Automotive parts, Batteries, Oil, Filtration, Clutches, Spark Plugs, Wiping, Braking, and Lighting. ACdelco has 1155 employees and a revenue of $230 Million.
Weichai Power Co., Ltd is a Chinese state-owned listed company established in 1946 and headquartered in Weifang, Shandong. Specialties in automobile manufacturing, equipment manufacturing, machinery industry, vehicle machine, powertrain, yacht, Heavy Industries, engine, hydraulic. Weichai Power Co Ltd has 76,800 Employees and a revenue of $22 Billion.
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