The Spark Plug Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Spark Plug Market:
https://www.thebusinessresearchcompany.com/report/spark-plug-global-market-report
According to The Business Research Company’s Spark Plug Global Market Report 2024, The spark plug market size is expected to see strong growth in the next few years. It will grow to $5.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to the shift towards electric vehicles reducing traditional spark plug demand, increasing adoption of turbocharged engines, increasing interest and growth of the electric vehicles, growth in the automotive aftermarket, and expansion of automotive production in emerging markets. Major trends in the forecast period include improved durability and performance, development of spark plugs for hybrid and electric vehicles, adoption of multi-electrode spark plugs for enhanced combustion, growth in demand for iridium and platinum spark plugs, and technological advancements.
Increasing automotive production is expected to propel the growth of the spark plug market going forward. Automotive production is growing due to increasing global demand for vehicles driven by economic growth, urbanization, and rising consumer purchasing power. Spark plugs are used in automotive production to ignite the air-fuel mixture within the engine’s combustion chamber, which is essential for starting and running gasoline-powered internal combustion engines. For instance, in June 2024, according to a report published by Statistics Canada, a Canada-based national statistical organization, in 2022, the total number of registered road motor vehicles in Canada reached 26.3 million, showing a slight increase of 0.3% compared to 2021. Therefore, increasing automotive production is driving the growth of the spark plug market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=17260&type=smp
The spark plug market covered in this report is segmented –
1) By Product Type: Hot Spark Plug, Cold Spark Plug
2) By Material Type: Copper, Iridium, Platinum, Other Material Types
3) By Application: Automotive, Marine, Aerospace, Other Applications
4) By Distribution Channels: Original Equipment Manufacturer (OEM), Aftermarket
Major companies operating in the spark plug market are focused on developing innovative products, such as the durable spark plug, to enhance durability and performance. A durable spark plug refers to a component designed to withstand prolonged use and harsh conditions without significant degradation in performance or lifespan, ensuring reliable ignition and operational efficiency over an extended period. For instance, in January 2021, Robert Bosch GmbH, a Germany-based engineering and technology company, introduced an EVO spark plug, specifically designed for the extreme demands of turbocharged gasoline direct injection (GDI) engines. The EVO spark plug is engineered to ensure reliable ignition performance throughout its long service life, even under extreme conditions in modern engines. The plug is designed to withstand irregular combustion, known as mega knocking, which can occur in modern, technologically advanced engines. The spark plug features a laser-welded iridium alloy pin on the center electrode and a platinum-iridium alloy plate on the ground electrode, ensuring long service life and high wear resistance.
The spark plug market report table of contents includes:
- Executive Summary
- Spark Plug Market Characteristics
- Spark Plug Market Trends And Strategies
- Spark Plug Market – Macro Economic Scenario
- Global Spark Plug Market Size and Growth
………….
- Global Spark Plug Market Competitive Dashboard
- Key Mergers And Acquisitions In The Spark Plug Market
- Spark Plug Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Spark Plug Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Spark Plug Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Spark Plug Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………
Table 75: Robert Bosch GmbH Financial Performance
Table 76: Hitachi Ltd. Financial Performance
Table 77: Denso Corporation Financial Performance
Table 78: Weichai Power Co. Ltd. Financial Performance
Table 79: Valeo SA Financial Performance
Read Related Reports:
https://goodprnews.com/railway-rolling-stock-market-size/
https://topprnews.com/mucolipidosis-ii-market-share/
Learn About Us:
The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
