Spark Plug Accessories Market: Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics and Segmentation

The Spark Plug Accessories Market was valued at US$ 1095 Mn. in 2021. Global Spark Plug Accessories Market size is expected to grow at a CAGR of 8.23 % through the forecast period.
Spark Plug Accessories Market Overview:
A spark plug is a device for delivering electric current from an ignition system to the combustion chamber of spark ignition engine to ignite the compressed fuel/air mixture by an electric spark while containing combustion pressure within the engine. A spark plug has a metal threaded shell electrically isolated from central electrode buy a ceramic insulator. A substantially insulated wire connects the centre electrode, which may contain a register, to the output terminal of an ignition coil or Magneto. The spark plug metal shell is electrically grounded and fastened into the engine cylinder head. Boots, com wires, caps, ignition coils, thumb nuts, and socket are examples of spark plug accessories. In most two-wheelers, only one spark is used in the engine, but as motorcycles with DTSI engine technology gain hold around the world, the demand for spark plug accessories is expected to rise significantly.



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Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis especially with the impact of lockdown by region.
Spark Plug Accessories Market Dynamics:
Market growth is due to the expansion of the automotive industry, particularly in emerging economies like as China & India. Furthermore, tight pollution & fuel economy laws and requirements promote market expansion. COVID19, on the other hand, has spread over the world, resulting in a blockade of most countries & the shutdown of companies and transportation activities in order to contain the virus's spread.

Due to pandemics, Chinese spark plug manufacturers have drastically reduced production, severely limiting market growth. Furthermore, the drop in sales of commercial vehicles & passenger automobiles owing to production delays is limiting the growth of the spark plug industry. The majority of Chinese enterprises have shifted their operations to other nations, which will have a huge impact on the Chinese market. China is the world's largest automaker's hub. Companies are expected to suffer hurdles as a result of the COVID19 blockage.

Major drivers of the Spark plug accessories market are:

Increase in number of automotive sales, sales of cars and motorcycles rose by 13% compared to 2020. Increase in number of cars and bikes will directly affect the sales of spark plugs positively. In bikes 1 or 2 spark plugs are used whereas in cars approximately 4 sparks plugs are used which leads to increased sales of spark plug in automotive industry.

Short operational life of spark plug, growing demand for passenger cars in several developing countries is estimated to propel the demand for spark plugs accessories during the forecast period. Spark plug accessories have a short operational life due to extreme conditions in which they operate. This plugs usually need to be replaced frequently as worn-out flux can cause high fuel consumption due to incomplete combustion of fuel, poor starting, & poor acceleration due to high-speed driving. There is no set time frame to change spark plug accessories. However recommended replacement time for conventional spark plug is at a mileage of every 30000 to 45000 miles. This in turn is estimated to fuel the demand for spark plug accessories in the aftermarket sales channel segment.

Strict Government rules, several regulations are introduced by countries across the globe to contain carbon emissions. Euro6 is introduced to reduce several different pollutants, such as carbon monoxide, hydrocarbons, & nitrogen oxides. Euro6 norms presented new carbon dioxides emissions targets for passenger cars that is 95g/km of CO2, and light commercial vehicle standards remain at 147 g/km of CO2 for 2020. In addition, nitrogen oxide emissions of diesel vehicles are 80 mg / km, & nitrogen oxide emissions of gasoline vehicles are 60 mg / km. Therefore, the introduction of strict standards for carbon emissions is one of the factors expected to contribute to the growth of the market.

The factors that hammer the spark plug accessories market are:

Increased market of electric cars, increased EV market affects the spark plug accessories market negatively. The Electronic vehicles do not use spark plugs but are used in hybrid cars which include both electric engine as well as combustion engine. The consist increase in the EV market will reduce the sales of the spark plug market.

Increased awareness to reduce carbon footprint, as spark plugs are used in the combustion vehicles and increased awareness about carbon footprint will help increase the market for EV which will reduce the spark plug accessories market.
Spark Plug Accessories Market Segment Analysis:
Based on Type, the Spark Plug Accessories Market is segmented into cold spark plugs & hot spark plugs. Hot spark plugs are found in many passenger vehicles, hot spark plug have more isolation to transfer the heat slowly which helps the temperature high enough to burn off carbon deposit & avoid premature fouling. This helps allow for more time between spark plug changes. The sale of hot spark plug is more than cold spark plug as it is mostly used in passenger car.

Based on end user, the end users are segmented into automotive, marine, aerospace and industry. The global automotive market size is expected to grow from USD 2.3 Bn in the year 2020 to USD 25.7 Bn by the end of 2025 at a CAGR 4.8%. The spark plug accessories are mostly used in the cars bikes & other commercial vehicles. Hence increase in the commercial market will also lead to increase in the spark plug accessories market.

Based in Type of material, the market is segmented into copper spark plugs, platinum spark plugs, nickel spark plugs & iridium spark plug the majority of spark plugs feature of copper core centre electrode. Excellent electric conductor better than any other type of material used in spark plug plugs & also transfers heat faster. Copper spark plugs run cooler and provide more power in performance driving situation. They are often installed as originally equipment’s in turbocharged engines and engines with higher compression ratios. Copper spark plug is also often used in older vehicles distributor best ignition system. Sale of copper spark plugs is the most among other type of materials.

Based on distribution channel, the distribution of sparks plugs is done in two ways that are original equipment manufacturer & aftermarket. Mostly the customers of spark plugs are owners of passenger vehicles and other commercial vehicles. Hence the sales are mostly seen in aftermarket from the retailers and service centers.


Spark Plug Accessories Market Regional Insights:
The Asia pacific dominates the global spark plug accessories market with increase in the number of passenger cars in China and India. Followed by Europe. The Europe region is expected to witness significant growth at a CAGR of 6.1% during the forecast period.

The objective of the report is to present a comprehensive analysis of the global Spark Plug Accessories Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Spark Plug Accessories Market dynamic, structure by analyzing the market segments and projecting the Spark Plug Accessories Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Spark Plug Accessories Market make the report investor’s guide.
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Global Spark Plug Accessories Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1010 Mn.


Forecast Period 2022 to 2027 CAGR:
8.23%
Market Size in 2027:
US $ 1900 Mn.


 Segments Covered:
by Type
• Cold spark plug
• Hot spark plug


by Material type
• Copper type
• Platinum type
• Nickle type
• Iridium type


by Distribution channel
• Original manufacturing market
• Aftermarket


by End-User
• Automotive
• Marine
• Aerospace
• Industry



Spark Plug Accessories Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Spark Plug Accessories Market Key Players
• Lectric limited
• ACDelco
• Federal-Mogul Auto parts
• Holley performance Products
• NGK Spark Plugs
• Pertronix Ignition products
• Tylor Cable products
• General Motors
• Tenneco
• Denso Corp
• Robert Bosch Group
• MSD Ignition
• Chongqing tiger CO.
• Schwaben Parts
• SELPLAN

Frequently Asked Questions:

1] What segments are covered in the Global Spark Plug Accessories Market report?
Ans. The segments covered in the Spark Plug Accessories Market report are based on Product Type, material type, distribution channel and End User.

2] Which region is expected to hold the highest share in the Global Spark Plug Accessories Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Spark Plug Accessories Market.

3] What is the market size of the Global Spark Plug Accessories Market by 2027?
Ans. The market size of the Spark Plug Accessories Market by 2027 is expected to reach US$ 1900 Mn.

4] What is the forecast period for the Global Spark Plug Accessories Market?
Ans. The forecast period for the Spark Plug Accessories Market is 2020-2027.

5] What was the market size of the Global Spark Plug Accessories Market in 2021?
Ans. The market size of the Spark Plug Accessories Market in 2020 was valued at US$ 1095 Mn.