Global Spark Plugs Market 2015-2019
About Spark Plug
A spark plug is an integral component in an engine, and it performs an important function of producing sparks that are necessary to ignite the mixture of air and fuel in the engine. A spark plug is an initiator of the combustion process, which provides the energy to run a vehicle. The primary function of a spark plug is to provide the spark, and its secondary function is to dissipate heat. There are different type of spark plugs, such as platinum spark plugs, iridium spark plug, and copper spark plug, are available in the market. On the basis of temperature, spark plugs can also be classified as hot spark plugs and cold spark plugs. Cold spark plugs have less insulation and transfer more heat away from the combustion chamber to the outside of an engine and are usually found in high-compression engines. Hot spark plugs have more insulation and are found in the majority of standard engines. Many technological changes are being carried out in spark plug to improve their function ability as it affects the engine efficiency.
TechNavio's analysts forecast the Global Spark Plugs market to grow at a CAGR of 5.01 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Spark Plugs market for the period 2015-2019. In terms of geography, the market is segmented into three: the Americas, and the EMEA and APAC regions.
TechNavio's report, the Global Spark Plugs Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Spark Plugs market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Global Spark Plugs Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Spark Plugs Market: Autolite, Bosch Group, Denso Corp., Federal-Mogul Corp., NGK Spark Plug Co Ltd.
Other Prominent Vendors in the market are: E3 Spark Plugs, Enerpulse Technologies, MSD Spark Plugs, Stitt Spark Plug and Zhuzhou Torch Spark Plug.
Commenting on the report, an analyst from TechNavio’s team said: “An important trend of concerns over fuel economy is being witnessed in the market. The demand for fuel-efficient vehicles is the need of the hour. An efficient transmission and powertrain system optimizes the engine’s output and thus ensures better fuel efficiency. This increase in demand for fuel-efficient vehicles has led to an increase in R&D to ensure improved fuel efficiency in engines.”
According to the report, increase in demand for passenger cars is one of the major drivers of the market. The cost benefits associated with gasoline-powered cars acts as a key driver in the Global Spark Plugs market. The demand is coming mostly from emerging economies such as China and India. China has emerged as the biggest market for automobiles in the world and is expected to grow during the forecast period of 2014-2019.
Further, the report states that one of the key challenges in the market is the availability of cheap spark plugs. There are many low-quality spark plugs available in the market that imitates big brands such as NGK. Manufacturers are trying to tackle the problem of counterfeit spark plugs as it tarnishes the image of genuine spark plug manufacturers. It is also harmful to the engine of a vehicle.
Autolite , Bosch Group, Denso , Federal-Mogul , NGK Spark Plug , E3 Sparkplugs, Enerpulse Technologies, MSD , Stitt Spark Plug , Zhuzhou Torch Spark Plug