Spark Plug Market by Electrode Material and Application - Global Opportunity Analysis and Industry Forecast, 2014-2022

  • ID: 4612568
  • Report
  • Region: Global
  • 190 pages
  • Allied Analytics LLP
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Spark plug is an electrical device threaded into cylinder of spark ignition engine, which produces spark at the required time to ignite the combustible air-fuel mixture in the cylinder bore. The device comprises shell, resistance, electrodes, and insulator. During the engine operation, when high tension current flows through the center electrodes, it ionizes the gas present between the electrode gap, producing spark. The modern spark plug is designed to deliver a powerful ignition spark around 500-3,500 times per minute. Temperature at the tip of the spark plug is normally between 500°C and 800°C. Passenger cars and commercial vehicles such as heavy-duty trucks and buses integrate more than four spark plugs, depending on the number of cylinders, whereas two-wheelers, small boats petrol generator, mowers, and saws are generally integrated with single spark plug.

Numerous leading players in the market invest significantly in R&D to enhance their technical expertise and product portfolio. For instance, in November 2016, Federal-Mogul Corporation, a leading spark plug manufacturer, launched M18, a new industrial spark plug, combination of optimum materials and maximum electrode area, which provides increased resistance to spark erosion and chemical corrosion.

Increase in sales & production of gasoline powered vehicles globally and rise in number of petrol-based generators, small & recreational boats, and jet skis drive the market growth. However, technical advancements to downsize automotive engines and growth in penetration of electric vehicle & electrically powered working equipment such as mowers and saws hinder the growth of the spark plug market. Irrespective of these challenges, rising demand of natural gas based vehicle, and technological advancements, such as new electrode material, are expected to create numerous opportunities for the market players, thus supplementing the market growth.

The market segmentation is based on electrode material, application, and geography. Electrode material segment is divided into copper, platinum, and iridium. On the basis of application, the market is categorized into automobile, marine, industrial, and others (working equipment, brush cutters, scythes, mowers, saws). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is divided into the U.S., Canada, and Mexico, whereas Europe is classified into Germany, France, Italy, UK, and rest of Europe. Asia-Pacific is further segmented into China, Australia, Japan, India, and rest of Asia-Pacific. Latin America, Middle East, and Africa are considered under LAMEA.

The key players profiled in the report include NGK SPARK PLUG CO. LTD, Federal-Mogul Corporation, Denso Corporation, Robert Bosch Gmbh, FRAM Group IP LLC (Autolite), Enerpulse Technologie, Stitt Spark Plug, Acdelco Corporation, E3 Sparkplugs, Zhuzhou Torch Spark Plug, Weichai Power Co. Ltd., MSD Performance, Ford Motor Company, and Valeo.

KEY BENEFITS

The report includes an extensive analysis of the factors that drive as well as restrain the global spark plug market.
The market projections from 2014 to 2022 are included along with the affecting factors.
The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the situations prevailing in the market.
An in-depth analysis of key segments demonstrates stakeholders with different types of electrode material and application of spark plug.
Competitive intelligence highlights the business practices followed by leading market players across various geographies.

KEY MARKET SEGMENTS OF SPARK PLUG MARKET

BY ELECTRODE MATERIAL

Copper
Iridium
Platinum

BY APPLICATION

Automobile
Marine
Industrial
Others (working equipment, brush cutters, scythes, mowers, saws)

BY GEOGRAPHY

North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
UK
Rest of Europe
Asia-Pacific
China
Australia
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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CHAPTER 1 INTRODUCTION
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO Perspective

CHAPTER 3 MARKET OVERVIEW
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Winning Strategies
3.2.2. Top Investment Pockets
3.3. Porters Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Bargaining Power of Buyers
3.3.3. Threat of Substitutes
3.3.4. Threat of New Entrants
3.3.5. Intensity of Competitive Rivalry
3.4. Market Share Analysis, 2015
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Increae in Production and Sales of Vehicle Globally
3.5.1.2. Rise in Number of Gasoline or Natural Gas-Powered Generators, and Small & Recreational Boats
3.5.2. Restraints
3.5.2.1. Engine Downsizing to Reduce Vehicle Weight
3.5.2.2. Increasing Penetration of Electric Vehicle & Electrically Powered Working Equipment
3.5.3. Opportunities
3.5.3.1. Advancement in Technology
3.5.3.2. Growth in Demand for Natural Gas-Powered Vehicle

CHAPTER 4 GLOBAL SPARK PLUG MARKET, BY ELECTRODE MATERIAL
4.1. Overview
4.1.1. Market Size and Forecast
4.2. Copper
4.2.1. Market Size and Forecast
4.3. Iridium
4.3.1. Market Size and Forecast
4.4. Platinium
4.4.1. Market Size and Forecast

CHAPTER 5 GLOBAL SPARK PLUG MARKET, BY APPLICATION
5.1. Overview
5.1.1. Market Size and Forecast
5.2. Automobile
5.2.1. Key Market Trends
5.2.2. Growth Factors and Opportunities
5.2.3. Market Size and Forecast
5.3. Marine
5.3.1. Key Market Trends
5.3.2. Growth Factors and Opportunities
5.3.3. Market Size and Forecast
5.4. Industrial
5.4.1. Key Market Trends
5.4.2. Growth Factors and Opportunities
5.4.3. Market Size and Forecast
5.5. Others (Working Equipment, Brush Cutters, Scythes, Mowers, Saws)
5.5.1. Key Market Trends
5.5.2. Growth Factors and Opportunities
5.5.3. Market Size and Forecast

CHAPTER 6 GLOBAL SPARK PLUG MARKET, BY GEOGRAPHY
6.1. Overview
6.1.1. Market Size and Forecast
6.2. North America
6.2.1. Key Market Trends
6.2.2. Growth Factors and Opportunities
6.2.3. Market Size and Forecast
6.2.4. U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe
6.3.1. Key Market Trends
6.3.2. Growth Factors and Opportunities
6.3.3. Market Size and Forecast
6.3.4. U.K.
6.3.4.1. Market Size and Forecast
6.3.5. Germany
6.3.5.1. Market Size and Forecast
6.3.6. France
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Rest of Europe
6.3.8.1. Market Size and Forecast
6.4. Asia-Pacific
6.4.1. Key Market Trends
6.4.2. Growth Factors and Opportunities
6.4.3. Market Size and Forecast
6.4.4. China
6.4.4.1. Market Size and Forecast
6.4.5. Japan
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. Rest of Asia-Pacific
6.4.8.1. Market Size and Forecast
6.5. LAMEA
6.5.1. Key Market Trends
6.5.2. Growth Factors and Opportunities
6.5.3. Market Size and Forecast
6.5.4. Latin America
6.5.4.1. Market Size and Forecast
6.5.5. Middle East
6.5.5.1. Market Size and Forecast
6.5.6. Africa
6.5.6.1. Market Size and Forecast

CHAPTER 7 RELATED INDUSTRY INSIGHTS

CHAPTER 8 COMPANY PROFILES
8.1. Ngk Spark Plug Co., Ltd.
8.1.1. Company Overview
8.1.2. Operating Business Segments
8.1.3. Business Performance
8.1.4. Key Strategic Moves and Developments
8.2. Federal-Mogul Corporation
8.2.1. Company Overview
8.2.2. Operating Business Segments
8.2.3. Business Performance
8.2.4. Key Strategic Moves and Developments
8.3. Denso Corporation
8.3.1. Company Overview
8.3.2. Operating Business Segments
8.3.3. Business Performance
8.3.4. Key Strategic Moves and Developments
8.4. Robert Bosch GMBH
8.4.1. Company Overview
8.4.2. Operating Business Segments
8.4.3. Key Strategic Moves and Developments
8.5. Autolite
8.5.1. Company Overview
8.5.2. Operating Business Segments
8.5.3. Business Performance
8.5.4. Key Strategic Moves and Developments
8.6. Enerpulse Technologie
8.6.1. Company Overview
8.6.2. Operating Business Segments
8.6.3. Business Performance
8.6.4. Key Strategic Moves and Developments
8.7. Stitt Spark Plug
8.7.1. Company Overview
8.7.2. Operating Business Segments
8.7.3. Business Performance
8.7.4. Key Strategic Moves and Developments
8.8. Acdelco
8.8.1. Company Overview
8.8.2. Operating Business Segments
8.8.3. Key Strategic Moves and Developments
8.9. E3 Sparkplugs
8.9.1. Company Overview
8.9.2. Operating Business Segments
8.9.3. Business Performance
8.9.4. Key Strategic Moves and Developments
8.10. Zhuzhou Torch Spark Plug
8.10.1. Company Overview
8.10.2. Operating Business Segments
8.10.3. Business Performance
8.10.4. Key Strategic Moves and Developments
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Spark Plug Market Report, projects that the global spark plug market is estimated to reach $2,904 million by 2022, registering a CAGR of 4.2% during the period 2014-2022. Automobile segment is expected to maintain its domint position throughout the forecast period. Asia-Pacific accounted for the highest share of 46% in 2015, and is anticipated to maintain its domince throughout the forecast period.

Spark plug is an engine component, located at the top of cylinder, which delivers electric current during the combustion process to produce spark. Increase in production of gasoline and tural gas-based vehicle mostly two-wheeler and passenger cars drive the market growth. However, technical advancements to downsize automotive engines and growth in penetration of electric vehicle & electrically powered working equipment, such as mowers and saws, hinder the growth of the spark plug market. Irrespective of these challenges, increase in demand for tural gas-based vehicle and technological advancements, such as new electrode material, are expected to create numerous opportunity for the market players, thus fueling the market growth.

Electrode material segment is divided into copper, iridium, and platinum. In 2015, iridium spark plug accounted for the largest revenue among others. This is attributed to its benefits such as long service life, approximately five times greater than copper spark plug, and high ignitability due to fine tipped center electrode. However, copper spark plug is anticipated to witness decreased growth trend. Moreover, platinum spark plug is anticipated to witness the highest growth rate of 4.8% CAGR among others.

Spark plug finds its application across several verticals such as automobile, marine, industry, and others (working equipment, brush cutters, scythes, mowers, saws). In 2015, automobile segment accounted for the largest market share among others, and is anticipated maintain its domince due to increase in number of gasoline-based vehicle and rise in demand for tural gas vehicles. However, industrial segment is expected to witness the highest growth rate of 7.2% CAGR among others due to growth in urbanization and industrialization in developing countries, which further boosts the demand for petrol or tural gas generator.

Asia-Pacific accounted for the majority of revenue in 2015, and is expected to maintain its domince, followed by Europe and North America. This is attributed to the increase in sales and production of automobiles such as two-wheelers and passenger cars and LCV.

Spark plug is a type of lighter that ignites the compressed air-fuel mixture at the top of cylinder head. Spark plugs must be able to withstand at temperature of about 25000C and combustion pressure as high as 50 Kg/cm2. Centre electrode material is most important part of spark plug, as fuel economy and engine efficiency is based upon that. As per the key executive, one of the major spark plug manufacturer have tested around 2,000 electrode materials and over 25,000 insulator combition. Moreover, impending need of fuel efficient vehicles owing to increasing carbon footprint has fueled the demand of tural gas based vehicles eventually increasing the demand of spark plug. Among different applications of spark plug, automobile segment is anticipated to witness the robust growth rate owing to burgeoning number of sales and production of vehicle across the globe, states Eshan Hira, Research Associate, Automotive & transportation, Allied Market Research

Key findings of the Spark Plug Market:

In 2015, iridium spark plug led the overall spark plug market, and is projected to grow at a CAGR of 4.4% during the forecast period.
Platinum spark plug segment is expected to grow at a remarkable CAGR of 4.8% during the forecast period.
Automobile segment led the overall spark plug market in 2015, and is estimated to grow at a CAGR of 4.4%.
Industrial segment is expected to grow at a remarkable CAGR of 7.2%, owing to the increase in number of gasoline and tural gas-based generator mostly in developing countries such as Chi and India.
Asia-Pacific accounted for the largest market share among others in 2015, and is anticipated to grow at a remarkable CAGR of 4.6%.
Chi is the major shareholder, accounting for about half share of the Asia-Pacific spark plug market.

The key players in the spark plug market are focused to expand their business operations in the emerging countries with new product launches as a preferred strategy. The major players profiled in this report include NGK Spark Plug Co. Ltd, Federal-Mogul Corporation, Denso Corporation, Robert Bosch Gmbh, FRAM Group IP LLC (Autolite), Enerpulse Technologie, Stitt Spark Plug, Acdelco Corporation, E3 Sparkplugs, Zhuzhou Torch Spark Plug, Weichai Power Co. Ltd., MSD Performance, Ford Motor Company, and Valeo.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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