India Automotive Spark Plug Market By Vehicle Type (Passenger Car, Two-Wheeler & Three-Wheeler), By Type (Copper, Platinum & Iridium), By Demand Category (OEM Vs. Replacement), Competition Forecast and Opportunities, 2011-2021
Rising demand for automotive spark plugs in India can be attributed to growing automotive industry, continuously expanding petrol based vehicle fleet size, increasing passenger car and two-wheeler sales and rising purchasing power of consumers. According to the OICA, motorization rate in India increased from 20 per 1,000 inhabitants in 2013 to 22 per 1,000 inhabitants in 2014. Expanding fleet size of passenger cars, two-wheelers and three-wheelers is forecast to fuel demand for automotive spark plugs in the coming years. Moreover, continuous government support in the form of various initiatives such as National Automotive Testing and R&D Infrastructure Project (NATRiP), Focus Market Scheme (FMS), Automotive Mission Plan 2006-2016, National Electric Mobility Mission Plan (NEMMP) 2020, Make in India Program, etc., are anticipated to underpin growth in the country’s automotive spark plugs market in the ensuing years.
According to the TechSci Research report, “India Automotive Spark Plug Market By Vehicle Type, By Type, By Demand Category, Competition Forecast and Opportunities, 2011-2021, automotive spark plug market in India is forecast to grow at a CAGR of over 13% during 2016-2021, on account of rising automobile production and sales, and growing demand for petrol based vehicles. North India dominates India automotive spark plug market, followed by South India, due to strong demand for spark plugs from OEM and replacement segments in both the regions. Few of the leading companies operating in India automotive spark plug market include Bosch, Federal-Mogul, NGK and Denso. “India Automotive Spark Plug Market By Vehicle Type, By Type, By Demand Category, Competition Forecast and Opportunities, 2011-2021 report elaborates following aspects of automotive spark plug market in India:
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