Global Spark Plug Market Size, Share, Growth Analysis, By Product(Spark Plugs and Glow Plugs), By Electrode Material(Copper, Platinum), By Sales Channel(OEM and Aftermarket), By Application(Two Wheelers and Four Wheelers) - Industry Forecast 2024-2031

Report ID: SQMIG45J2220 | Region: Global | Published Date: March, 2024
Pages: 190 | Tables: 111 | Figures: 75

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Global Spark Plug Market size was valued at USD 1,592.60 Million in 2022 and is poised to grow from USD 1,672.64 Million in 2023 to USD 2,949.39 Million by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).

The competitive environment of the global Spark Plug Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. The global market is highly competitive with many key players trying to maintain their market position through innovation, partnerships, mergers and acquisitions, geographical expansion etc., Denso Company, BorgWarner Inc., Federal-Mogul Company, Valeo SA, Delphi Technology, Weichai Power Company Limited, is ACDelco Company, and Champion Automotive Parts. These companies focus research and development activities to introduce advanced spark plug technologies to meet the evolving needs of automakers and end users. 'Semiconductor Components Industries, LLC', 'NXP Semiconductors', 'Texas Instruments Incorporated', 'Microchip Technology', 'STMicroelectronics', 'Toshiba India Pvt. Ltd', 'Renesas Electronics Corporation', 'Visionics Sweden HB', 'Labexports', 'NXP Semiconductors', 'STMicroelectronics', 'Mouser Electronics, Inc.', 'JaincoLab, SES INSTRUMENTS PVT. LTD', 'SINGHLA SCIENTIFIC INDUSTRIES', 'Jameco', 'Springer Nature Switzerland AG', 'Clamorworld, EKRAFT STUDIO Company', 'Nexperia'

Increasing Vehicle Sales and Production in Each Region to Boost Market Expansion

Increasing Demand for More Efficient Fuel-efficient Materials

Asia-Pacific dominated the market in 2022 and is set to rule with the fastest CAGR during the forecast period. The strong automotive industry in emerging Asia Pacific countries such as India, Japan and China support regional expansion and the need for new vehicles and replacement parts, including materials, is the key about progress. Asia-Pacific is expected to capture the largest share of the market due to rapid expansion of automobile industry and major presence of major automakers from countries such as India and China Vehicle emissions can be reduced while potentially deteriorating - It can prevent strikes, which are directly linked to increased carbon dioxide emissions.

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Global Spark Plug Market Size, Share, Growth Analysis, By Product(Spark Plugs and Glow Plugs), By Electrode Material(Copper, Platinum), By Sales Channel(OEM and Aftermarket), By Application(Two Wheelers and Four Wheelers) - Industry Forecast 2024-2031

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