Techno World Spark-Plug-and-Glow-Plug-Market | Page 2

International Organization of Motor Vehicle Manufacturers, the sales of passenger vehicles was
70,849,466 units in 2016 up from 69,506,882 units in 2015.
Asia pacific held the dominant position in spark plug and glow plug market in 2017
On the basis of geography, the spark plug and glow plug market is segmented into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific held the
dominant position in the market in 2017 and is projected to retain its dominance throughout the
forecast period. In 2017, the Asia Pacific market was valued at US$ 1542.6 million and is
expected to reach US$ 2679.2 million by 2025 with a CAGR of 7.1%. India, China, Japan and
South Korea are some of the major countries in the spark plugs market in this region. High sales
of passenger cars in the region is one of the major factors for the growth of the spark plug
market
in
this
region.
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For instance, according to International Organization of Motor Vehicle Manufacturers, in 2017,
the new sales or registration of new passenger car in China was 24,961,948 units up from
24,376,902 units in 2016. Similarly, in 2017, the new passenger car sales or registration in India,
Japan, and South Korea was 3,227,701 units, 4,391,100 units and 1,495,468 units, respectively.
This is expected to be one of the major driving factors for growth of the market in Asia Pacific. In
addition to this, advancement in technology in spark plug and glow plug such as pressure sensor
glow plugs for diesel engines is also expected to support in growth of market.
Key Players - Global Spark Plug and Glow Plug Market
The major players operating in the global spark plug and glow plug market include NGK Spark
Plug Co. Ltd, Federal-Mogul Corporation, Borgwarner Inc., Denso Corporation, Robert Bosch
Gmbh, General Motors (Acdelco Corporation), Delphi Automotive, Valeo, Weichai Power Co. Ltd.,
and
UCI
Fram
Autobrands
(Autolite)
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