19 February 2019:
Spark
Plug Market was million US$ in 2018 and is expected to million
US$ by the end of 2024, growing at a CAGR of between 2019 and 2024.This report
studies the Spark Plug market size (value and volume) by players, regions,
product types and end industries, history data 2014-2018 and forecast data
2019-2024; This report also studies the global Spark Plug market competition
landscape, market drivers and trends, opportunities and challenges, risks and
entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Global Spark Plug Market is estimated to grow significantly
in the forecast period owing to the rising use of iridium material in new
engine models. Spark plugs are the devices that deliver electric current from
ignition system to combustion compartment in the car. Being a small electrical
component, it is directly linked to the engine. They survive extreme pressure
and heat within the car cylinders and efficiently burn off deposits from fuel
additions to other pollutants.
Read the full report:
https://www.millioninsights.com/industry-reports/spark-plug-market/request-sample
The factors driving the market are comprise a fleet of automobiles
due to significant demand for automobiles worldwide and promising government
policies. In addition, increasing demand for LPG/CNG and petrol automobiles is
impelling the demand for spark plugs, thereby boosting the market growth.
However, increasing consumers’ inclination for electric vehicles is expected to
hamper the growth of market in the years to come. The increased demand for
spark plugs by OEMs in different regions of the world is on the rise. This
trend is expected to grow in future as well.
The market is categorized on the basis of product type,
sales channel, application, and geography. On the basis of product type, market
is divided into cold spark plug and hot spark plug. Hot spark plug is expected
to hold larger share of market owing to its extensive use. Cold spark plug is
anticipated to grow at a comparatively steady rate in the years to come.
Based on sales channel, market is divided into aftermarket
and (OEM) original equipment manufacturer. Original equipment manufacturer is
predicted to grow substantially as compared to aftermarket channel owing to
cheaper rates offered by different enterprises. In terms of application, market
is split into marine, automotive, and industrial among others. Automotive
segment is predicted to lead the spark plug market due to wide application of
spark plug in automobiles.
The key players in the spark plug market are General Motors
(Acdelco Corporation), Federal-Mogul Corporation, NGK Spark Plug Co. Ltd,
UCI-Fram Autobrands (Autolite), Borgwarner Inc., Denso Corporation, Delphi
Automotive, Valeo, Weichai Power Co. Ltd., and Robert Bosch Gmbh.
For detailed
Information of Market Dynamics, Size, Trends, Visit our report at: https://www.millioninsights.com/industry-reports/spark-plug-market
Spark Plug Market by
Geographical Regions:-
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Key Vendors
•
NGK Spark Plugs
•
Bosch
•
Federal-Mogul
•
Denso
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