DUBLIN, Jan. 22, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/xlcl6b/automotive_spark) has announced the addition of the "Automotive Spark & Glow Plugs Market by Vehicle Type, Product Type, Engine Cylinder Layout Type, Market & Region - Industry Trends & Forecast to 2019" report to their offering.
In terms of value, the automotive spark plugs market is anticipated to grow at a CAGR of 5.29% whereas the glow plugs market is estimated to grow at a CAGR of 7.81% from the period of 2014 to 2019.
A spark plug (in case of gasoline engines) or a glow plug (for diesel engines) a vital component that is essential for the functioning of a vehicle engine. These plugs play a key role in every vehicle that has an internal combustion engine. This validates the fact that the demand for spark and glow plugs is directly linked to the number of vehicles produced per year. Spark and glow plugs characteristically have a limited lifespan, owing to which they are in demand not only in the OE market, but in the aftermarket as well.
The global market value for spark plugs and glow plugs is projected to reach $2,765.12 million and $1092.69 million respectively by 2019. The market for spark plugs is estimated to be the largest in the Asia-Oceania region, which holds a market share of about 52% in 2014. China is the major contributor to the growth of spark plugs in the Asia-Oceania region.
The global demand for spark and glow plugs is propelled by the increasing number of vehicles across the globe, and the upcoming stringent fuel efficiency and emission norms. North America holds the second position in the market for spark plugs as this region has the majority of gasoline vehicles. The major contributor to the market in the North American region is the U.S., which has the largest production of gasoline LCVs.
This justifies the huge demand for cold spark plugs that are used in high-performance engines. Europe is estimated to be the largest market for glow plugs, followed by Asia-Oceania. This is because the region has the second largest number of diesel vehicles in the world.
In terms of the spark and glow plugs market by vehicle types, the passenger cars segment accounts for the maximum share, followed by light commercial vehicles and heavy commercial vehicles. In the passenger car segment, hot spark plugs are estimated to lead the market in coming years, as the demand for small and medium powered passenger cars is increasing.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Automotive Spark and Glow Plugs Market, By Region
8 Automotive Spark and Glow Plugs Market, By Type
9 Automotive Spark and Glow Plugs Market, By Vehicle Type
10 Competitive Landscape
11 Company Profiles
- Borgwarner Inc.
- Delphi Automotive
- Denso Corporation
- Federal-Mogul Corporation
- General Motors (Acdelco Corporation)
- NGK Spark Plug Co. Ltd.
- Robert Bosch GMBH
- UCI-Fram Autobrands (Autolite)
- Weichai Power Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/xlcl6b/automotive_spark
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SOURCE Research and Markets