Global Spark Plug Market Size, Share & Industry Trends Analysis Report By Type (Hot and Cold), By Material (Copper, Platinum, Iridium), By Sales Channel, By End-Use (Automotive, Marine), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Spark Plug Market
Market Report Description
The Global Spark Plug Market size is expected to reach $4.4 billion by 2028, rising at a market growth of 5.2% CAGR during the forecast period.
A spark plug is a device that generates the spark at the proper time when the combustion of the air-fuel mixture in the cylinder bore has to be ignited. A spark-ignition engine's cylinder is threaded with it. If the voltage being supplied to the plug is high enough, electrical energy sent through the spark plug during engine operation can jump the gap in the plug's firing end.
Although they can reach as high as 45,000 volts, spark plugs typically require 12,000–25,000 volts. A high ignition spark can be generated by the spark plug 500 to 3,500 times per minute. Typically, the spark plug tip's temperature ranges from 500 to 800 degrees Celsius. Spark plugs generally consist of electrodes. The two electrodes in a spark plug are parted by an air pocket and used to create a spark that ignites an air-fuel mixture.
An engine will start smoothly and use less fuel with a good spark plug. It can also be formed of nickel, platinum, copper, and iridium. Given that it transmits electrical energy to the engine during engine operation, the spark plug is regarded as a vital component of a car. The shell, insulator, and central conductor make up a spark plug. It penetrates the combustion chamber's wall, therefore it must also protect the chamber from high temperatures and pressures without degrading during prolonged use and longer periods.
Size, thread type (nut or taper), sealing type (crush washer or washer taper), and spark gap are all used to specify spark plugs. Sintered alumina, an extremely hard ceramic substance with great dielectric strength, is commonly used to make the insulator's main component. The manufacturer's logo and other identifying marks are written on the material, and it is then glazed to increase resistance to contact spark tracking. It is primary duties include supplying the core electrode with mechanical support, electrical insulation, and a longer spark channel for flashover prevention.
COVID-19 Impact Analysis
The complete lockdown and the partial shutdown of industries proclaimed by governments in several locations had a negative impact on overall production and sales. The COVID-19 pandemic had a negative influence on passenger car sales due to supply chain interruptions, which in turn decreased the market for accessories like spark plugs. Many automakers had component and material shortages, which slowed down vehicle manufacturing. However, post-pandemic commercial vehicle sales have increased, which in turn helped the spark plug sector flourish.
Market Growth Factors
Increase In Vehicle Production And Rising Demand For Fuel-Efficient Vehicles
The use of the spark plug is projected to be boosted by the rise in passenger car production and the expansion of the use of natural gas equipment. Consumer demand for reliable, high-performance cars is rising, which is causing the automotive industry to expand more quickly. Cold spark plugs made of platinum and iridium are used in high-performance engines to produce very little carbon emissions. To comply with some requirements, automakers are trying to increase fuel efficiency and cut back on harmful emissions.
Strict Regulations Addressing Carbon Emissions Leading To Shift In Spark Plug Innovations
The implementation of strict environmental regulations and emission standards to minimize carbon footprint and combat global warming has spurred positive changes in the spark plug industry as well. Modern gasoline engines can deliver high mileage and low pollution without compromising performance as a result of strict laws. To ignite the air-fuel mixture in the engine's combustion chamber, spark plugs are used. It facilitates smooth ignition and helps cut down on emissions.
Market Restraining Factors
Rising Adoption Of Electric Vehicles Over Fuel-Based Ones
According to the International Energy Agency, despite the COVID-19 pandemic, and supply chain issues including semiconductor chip shortages, 2021 nonetheless saw record-high levels of electric vehicle sales. In 2012, over 120 000 electric vehicles were sold globally. That much was sold within a week in 2021. Additionally, the production of automotive batteries increased by 33% to 160 GWh in 2020. In 2020, there were 10 million electric cars in use worldwide, with battery electric vehicles (BEVs) making up two-thirds of the total.
Based on type, the spark plug market is bifurcated into hot spark plug and cold spark plug. The hot spark plug segment dominated the spark plug market with the highest revenue share in 2021. When a spark plug's tip retains more heat due to improved heat insulation, it is considered to be "hot." The combustion chamber has an impact on the spark plug because it is located there.
On the basis of material, the spark plug market is divided into copper, platinum, iridium, and others. The platinum segment procured a substantial revenue share in the spark plug market in 2021. Because platinum is tougher than other materials, it can maintain its cutting edge for more miles than a typical spark plug. One major benefit of platinum spark plugs is their longevity. Another benefit of platinum spark plugs is that they operate at a little higher temperature, which helps to better burn off deposits and reduce fouling.
End Use Outlook
Based on end use, the spark plug market is categorized into marine, automotive, and others. The marine segment garnered a significant revenue share in the spark plug market in 2021. Marine spark plugs, a crucial part of the boat's engine, receive high voltage energy at one end and start a spark at the other. The combustion that propels the boat is caused by the spark that ignites the fuel and air mixture inside the engine. Most marine mobiles utilize spark plugs for starting the vehicle.
Sales Channel Outlook
On the basis of sales channel, the spark plug market is segmented into original equipment manufacturer and aftermarket. The original equipment manufacturer (OEM) segment acquired the highest revenue share in the spark plug market in 2021. OEMs have developed advanced spark plugs that are highly efficient and compact in response to consumers' increasing preference for automobiles with reliable ignition systems that operate in harsh situations. Most conventional fuel-based vehicles make use of spark plugs for starting the engines.
|Market size value in 2021||USD 3.1 Billion|
|Market size forecast in 2028||USD 4.4 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 5.2% from 2022 to 2028|
|Number of Pages||228|
|Number of Tables||430|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Material, Sales Channel, End-use, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on region, the spark plug market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific region dominated the spark plug market with the largest revenue share in 2021. This is attributable to growth in commercial vehicle sales brought on by the expansion of e-commerce in the region. Due to ongoing urbanization and industrialization, the number of gasoline- or natural gas-powered generators and the manufacturing of passenger cars are both increasing.
Free Valuable Insights: Global Spark Plug Market size to reach USD 4.4 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Denso Corporation, Valeo SA, Marelli, General Motor Co., Ford Motor Company, E3 Spark Plugs, Weichai Power Co. Ltd., Tenneco, Inc., and NGK Spark Plug Co., Ltd.
Strategies deployed in Spark Plug Market
- Aug-2022: Tenneco unveiled a range of new Champion industrial spark plugs. These spark plugs are known for their reliability, strong performance, and robust durability in industrial applications. The newly designed ignition offerings represent an economical double Iridium solution that rounds out Tenneco's Champion aftermarket value plug portfolio.
- May-2022: NGK Spark Plug unveiled three new spark plugs namely ILTR5E11, ILKAR7G9, and IZTR5B11. The three new laser iridium spark plugs boosted NGK's already comprehensive marine and 4-wheel aftermarket. The double precious metal references in these spark plugs are pioneering in the aftermarket and follow the OE business, with outstanding quality, high ignition performance, and ignitability as well as high resistance to wear.
- Jan-2021: Robert Bosch launched the EVO spark plug. EVO spark plug is engineered to ensure reliable ignition throughout its long service life even under extreme conditions in modern engines. The product was launched to meet the needs of modern turbocharged gasoline direct-injection engines which placed high demands on spark plugs.
- May-2020: Tenneco introduced a range of new GOETZE branded industrial spark plugs, designed for industrial gas engines. The four new GOETZE industrial spark plugs are designated: G-6001, G-6002, G-6003, and G-6004. These are suitable for power generation applications, including natural gas, biogas, landfill gas, and mine gas. With proven durability for these applications, GOETZE plugs are designed and manufactured for robust, reliable service.
- Feb-2020: NGK Spark Plugs introduced a new range of BS-6 Ready and BS-6 compliant spark plugs and glow plugs for petrol and diesel vehicles in India. The company aimed at optimizing its global production efficiency along with the enhancement of production capacity through this launch. NGK Group would consider the Indian market as one of the most important markets in its medium-term business plans.
- Jul-2019: E3 Spark Plugs partnered with NHRA, a drag racing governing body, which sets rules in drag racing and hosts events all over the United States and Canada. From this partnership, E3 utilized the opportunity to incorporate the company's official logo in advertising, promotions, point-of-purchase materials, and on packaging for each designated product.
Scope of the Study
Market Segments Covered in the Report:
By Sales Channel
- Original Equipment Manufacturer
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Robert Bosch GmbH
- Denso Corporation
- Valeo SA
- General Motor Co.
- Ford Motor Company
- E3 Spark Plugs
- Weichai Power Co. Ltd.
- Tenneco, Inc.
- NGK Spark Plug Co., Ltd.
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