Automotive Aftermarket For Spark Plugs Market size is set to grow by USD 136.57 mn from 2024-2028, increase in vehicle parc globally to boost the market growth, Technavio

NEW YORK, May 17, 2024 /PRNewswire/ -- The global automotive aftermarket for spark plugs market  size is estimated to grow by USD 136.57 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 1.85%  during the forecast period. 

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Key Market Trends Fueling Growth

The automotive aftermarket for spark plugs has seen a shift towards platinum and iridium options due to their heat resistance and efficiency. Once exclusive to luxury vehicles, these materials are now used in mass-selling cars and light commercial vehicles. Modern engines' high combustion temperatures necessitate durable materials like platinum, iridium, and rhodium. Iridium plugs' low voltage requirement reduces ignition system load, ensuring precise sparks for efficient fuel combustion. This trend is observed in gasoline and diesel engines for passenger cars, light commercial vehicles, and heavy commercial vehicles. The need for engine downsizing and increased fuel economy, coupled with stringent emission norms, drives this market growth. The spark plug market encompasses various technologies such as plasma jet ignition, tube spurt ignition, and conventional automobiles. Urbanization and economic development further fuel the demand for automotive production and maintenance, including spark plug replacement cycles. The aftermarket segment caters to hybrid vehicles and two wheelers as well. 

Market Challenges

• The automotive aftermarket for spark plugs is experiencing significant change due to the evolving automotive industry. With the rise of electric vehicles (EVs) and hybrid powertrains, the demand for various spark plug types is increasing. Traditional spark plugs are being phased out in favor of alternatives for EVs, which don't require them. However, hybrids may still utilize them less frequently. The use of spark plugs in EVs necessitates knowledge of replacement schedules and specific requirements for different vehicle types. Other factors influencing the market include catalysts, ignition systems, plasma-assisted combustion, and Pulstar Spark Plugs. Additionally, oil price volatility, emission regulations, and functional issues in high-performance engines, sedans, and conventional diesel engines impact the market. The maritime sector, industrial applications, and OEM sales channels also contribute to the spark plug market.

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Segment Overview 

This automotive aftermarket for spark plugs market report extensively covers market segmentation by

1. Application 
• 1.1 Passenger cars
• 1.2 Commercial vehicles
2. Type 
• 2.1 Hot spark plugs
• 2.2 Cold spark plugs
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Passenger cars-  In the global automotive industry, the application segment of the spark plugs and glow plugs market primarily caters to vehicles powered by internal combustion engines, including gasoline and diesel engines. With growing concerns over emissions and fuel efficiency, there is a significant shift towards gasoline engines in the passenger cars and light commercial vehicles segment. Europe is leading this transition due to stricter emission norms and the increasing dissatisfaction with diesel cars' pollution. The internal combustion engine market, comprising gasoline and diesel engines, is undergoing transformations such as engine downsizing, fuel efficiency improvements, and the adoption of advanced ignition systems like plasma jet ignition and tube spurt ignition. Spark plugs and glow plugs play a crucial role in these engines' performance and durability. High-performance spark plugs and metal glow plugs are essential components for maintaining optimal engine efficiency in various vehicle applications. Gasoline engines typically require hotter spark plugs than diesel engines due to their higher compression ratios. The spark plugs' voltage and replacement cycles are critical factors in ensuring consistent combustion chamber performance. The automotive aftermarket segment, including spark plugs and glow plugs, is expected to grow significantly as the demand for maintenance and replacement increases. The shift towards electric vehicles (EVs) and hybrid vehicles is also influencing the market dynamics, with OEMs and aftermarket players focusing on developing advanced ignition systems for these vehicles. Urbanization, economic development, and stringent emission norms are driving the automotive production growth, leading to increased demand for spark plugs and glow plugs. The aftermarket segment for two-wheelers and four-wheelers is also expected to witness significant growth as vehicle owners prioritize regular maintenance to ensure optimal engine performance. General Motors, along with other automakers, is focusing on developing advanced ignition systems and improving engine efficiency to meet the evolving emission norms and consumer preferences. The spark plugs and glow plugs market is poised for growth as the automotive industry continues to adapt to the changing market landscape.

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Research Analysis

In the automotive aftermarket, spark plugs and glow plugs continue to play a crucial role in maintaining the performance and durability of internal combustion engines in passenger cars, light commercial vehicles, and heavy commercial vehicles. Vehicles with high performance engines, including those in the e-commerce sector and logistics industry, require optimal ignition system performance. Spark plugs and glow plugs are essential components in gasoline and diesel engines, ensuring efficient combustion and reducing emissions. Engine downsizing and the increasing adoption of electric vehicles have not diminished the demand for these components. Functional issues in heavy materials transport and commercial vehicles can often be traced back to faulty spark plugs or glow plugs. Automotive Spark Plugs and Heavy materials transport are interconnected, as the reliable operation of commercial vehicles is essential for the smooth functioning of industries such as construction.

Market Research Overview

The automotive aftermarket for spark plugs is a significant segment within the broader automotive industry. Spark plugs play a crucial role in the ignition system of internal combustion engines, enabling efficient and reliable engine performance. The spark plug market caters to the demand for replacement and high-performance spark plugs from various vehicle makes and models. Factors driving the growth of this market include increasing vehicle parc, rising demand for fuel efficiency, and the adoption of advanced technologies in spark plug design. Additionally, the market is witnessing the emergence of electric vehicles, which presents both opportunities and challenges for spark plug manufacturers. The market landscape is diverse, with various types of spark plugs available, including iridium, platinum, and copper plus. Overall, the automotive aftermarket for spark plugs is a dynamic and evolving market, driven by technological advancements and changing consumer preferences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Passenger Cars
• Commercial Vehicles
• Type
• Hot Spark Plugs
• Cold Spark Plugs
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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