Automotive Spark Plug Market is an essential component of a vehicle meant for delivering electric current from the ignition system to the combustion chamber in the engine. Spark plug ignites the mixture of air and fuel inside the combustion chamber with an electric spark when the pressure within the chamber is at an optimal level. A spark plug has a porcelain insulator, which separates it from a central electrode. In addition, it has a metal threaded shell. There are four different types of spark plug such as copper spark plug, platinum spark plug, double platinum spark plug and iridium spark plug.
Copper spark plugs are standard spark plugs, which are low in cost having the least longevity compared to other spark plugs because of copper’s characteristic of getting eroded away fast. However, copper is a good conductor of electricity and therefore, copper spark plugs run much cooler compared to other spark plugs and deliver better performance, without reaching overheated temperatures. Platinum spark plugs are completely opposite to copper plugs. They are less conductive to electricity, expensive and get overheated easily under normal driving conditions. However, platinum spark plugs are very long lasting as compared their copper counter-parts, which is why they are preferred by some of the automobile manufacturers. Double platinum spark plugs exhibit more or less the same properties of platinum spark plugs but it ensures a slightly higher performance compared to platinum spark plugs. The tip and the ground electrodes of double platinum spark plugs are made up of platinum for which it is able to provide superior performance compared to platinum spark plugs. However, it is more expensive compared to the platinum spark plugs. Iridium tipped spark plugs ensures better power and combustion, which leads to the superior performance of engine. In addition, it has a longer life span than copper spark plugs and can even match the longevity of some platinum spark plugs. Iridium spark plugs are the highest in cost among all the different types of Automotive Spark Plug Market.
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The automotive spark plug market can be classified by type, by application and by geography. The type segment can be classified into copper spark plug, platinum spark plug, double platinum spark plug and iridium spark plug. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Stringent emission norms and demand for fuel efficient vehicles are the key factors influencing growth of automotive spark plug market. In addition, economic reforms in developing countries, growth in the global automotive sector and rising private equity investments in automotive spark plug manufacturing companies across the world is set to influence the growth of this market positively. Moreover, increasing production of vehicles is also set to bolster the growth of this market globally. In terms of market revenue share, Asia Pacific is expected to hold the largest share by the end of forecast period followed by Europe, North America, Latin America and, Middle East and Africa.
The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive spark plug market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: NGK Spark Plug Co., Ltd. (Japan), Denso Corporation (Japan), BorgWarner Inc. (U.S.), and Robert Bosch GmbH (Germany) among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.