Spark Plug and Glow Plug Market Analysis of Rising Business
Opportunities with Prominent Investment Ratio by 2026
Spark Plug and Glow Plug Market research provides industry
analysis by type, manufacturer, application along with key factors
influencing the growth of the market which include growth drivers,
restraints, opportunities and challenges, strategically profile key
players and comprehensively analyze their market share and core
competencies.
A spark plug is an electronic device, which was integrated with cylinder head in the vehicle
engine that produces electric spark to burn petrol. Similarly, a glow plug is an electrically heating
device, which is integrated on the cylinder head of the diesel engine, which helps to start the
diesel engine in a cold condition. Increasing vehicle sales is one of the major factors for growth of
the spark plug and glow plug market. According to International Organization of Motor Vehicle
Manufacturers, in 2017, the sales of vehicles or registration of new vehicles was 96,804,390 units
up from 93,905,634 units in 2016. According to Coherent Market Insights’ analysis, the sales or
registration of new vehicles is expected to reach 141,303,730 units by 2025.
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Spark plug segment held the dominant position in 2017
The spark plug segment held the dominant position in the global market and is projected to
retain its dominance throughout the forecast period. In 2017, the spark plug segment was valued
at US$ 2414.3 million and is expected to reach US$ 3801.3 million by 2025 with a CAGR of 5.8%
over the forecast period. Increasing sales of passenger cars that run on gasoline is one of the
major factors expected to aid in growth of the market over the forecast period. According to