Spark Plug Market Growth, Trends, Share by Companies and Forecast 2023

IMARC Group, a leading market research company, has recently released a report titled "Spark Plug Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global spark plug market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Spark Plug Market?

Global spark plug market size reached US$ 4.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.85% during 2023-2028.

What is Spark Plug?

A spark plug represents an electrical device used to produce a spark for igniting the compressed fuel-air mixture present in the cylinder bore of an engine. It is made of a metal-threaded shell, ribs, hex, insulators, resistance, etc. When a high-tension current flow through the central electrodes of the device, the gas within the electrode gap is ionized to generate a spark. Some commonly found variants of these devices include hot and cold spark plugs with platinum, double platinum, copper, and iridium electrodes, which are widely utilized in several industries, including automotive, marine, aerospace, etc.

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What are the Growth Prospects and Trends in the Spark Plug Industry?

The expanding automotive industry across the globe, coupled with the increasing use of spark plugs for electrical, marine, and aerospace applications, is primarily fueling the spark plug market. Moreover, their growing utilization in petrol-based passenger vehicles, gasoline and natural gas powered-generators, jet skis, etc., is also catalyzing the product demand.

Additionally, the platinum and iridium-based cold variants are gaining traction in high-performance engines for minimizing carbon emissions. Furthermore, the development of plasma core and Advanced Corona Ignition System (ACIS) variants is helping in reducing diesel engine vibrations, noises, smoke emissions, etc., for better drivability in harsh weather conditions. Besides this, the escalating adoption of miniaturized engines is further anticipated to drive the market growth for spark plugs over the forecasted period.

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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Who are the Key Players Operating in the Spark Plug Market?

The competitive landscape of the industry has also been examined along with the profiles of the key players.

What is Included in Market Segmentation?

The report has categorized the market based on material, product type, application and distribution channel.

Breakup by Material:

Breakup by Product Type:

Breakup by Application:

Breakup by Distribution Channel:

Breakup by Region:

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Key Highlights of the Report:

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