According to Coherent Market Insights' analysis, around 77 million units of passenger cars were
sold in 2017 and the number is expected to increase to around 83 million units by 2018.
However, constant maintenance requirements for spark plug wires is expected to hamper the
market growth. Furthermore, defective wiring of spark plug can affect the engine performance,
which in turn will affect the mileage capabilities of a vehicle. Therefore, high dependence of
vehicle performance on spark plug wires is expected to offer lucrative growth opportunities for
major players over the forecast period.
Technological advancements in automation and cost-effective spark plug pressing
system is driving market growth
Advancements in the design and cost reduction in the pressing of the spark plug wires through
automation by maintaining defined standards to eliminate quality defects such as meager
contact of the cable generate unexpected hurdles has increased their adoption to maintain
performance of the vehicle engine and lifespan. Therefore, continuous improvements in the
design, as well as methodologies such as automation to press spark plug wires in the engine, has
led to growth of the spark plug wiring industry. Moreover, enhanced characteristics of high-
quality spark plug wires such as wire length, use of heat-resistant materials such as silicone,
EPDM rubber, etc. on outer insulation, rubber boots on end terminals, and use of high quality
conductors (copper, compressed carbon powder, steel, etc.) has gained significant traction in the
automotive market.
Applications of spark plug wires across various types of vehicles
Spark plugs are a crucial part of vehicle engine, which ignites the spark to start an engine. Spark
plug wiring helps to conduct the electricity from one terminal to another to effectively carry out
the aforementioned process. Growth in disposable income especially across emerging economies
and growing aftermarket for automotive industry is driving growth of the spark plug wire market.
For instance, according to the data provided by World Economic Forum, Indian household savings
virtually tripled from 2005 till 2014, due to increased disposable income. Furthermore, according
to Coherent Market Insights' analysis, the aftermarket for automotive is expected to exhibit a
CAGR of 4.8% during the forecast period of 2018-2026, owing to growing demand for automotive
components from emerging economies such as China, India, Vietnam, and others.
The use of innovative technologies such as Internet of Things (IoT) embedded to spark plug wires
has helped to create a direct communication channel between user and producer. For instance,
Moxa launched the IIOT (Industrial Internet of Things) Gateway Starter Kit in October 2017 that
includes built-in support for Amazon Web Services (AWS) to allow faster deployments.
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