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Spark Plugs Market worth $1079.47 Million by 2019

The global glow plugs and spark plugs market in terms of value is projected to grow at a CAGR of 7.85% and 5.26% respectively over the period from 2014 to 2019. One of the major key factors driving the growth of this market is the increasing demand for vehicles across the globe. The rise in stringency of the government norms and regulations pertaining to the emissions and fuel efficiency is also a key contributor to the growth of spark & glow plugs. However, the increasing adoption of engine downsizing and transition towards electric vehicles are estimated to hinder the automotive spark and glow plugs market at a global level. Additionally, maintaining balance between low cost, high performance and durability of the spark and glow plugs is one of the common challenges for the market players to cope up with. As of 2014, global demand for hot spark plugs and metal glow plug is high owing to its large applicability in passenger cars. The hot spark plugs contribute around 57% of the global spark plugs market in terms of value, whereas metal glow plug contributes 55% of the global glow plug market in terms of value in 2014.

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Spark Plugs Market worth $1079.47 Million by 2019

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  1. The report “Spark Plugs Market by Product Type (Spark plugs-Hot & Cold, Glow plug-Metal & Ceramic), Engine Layout (L3, L4, L5, L6, V6, H6, V8, V10, V12), Market (OE & Aftermarket), Vehicle Type (Passenger Car, LCV & HCV), & Region - Trends & Forecast to 2019” classifies and defines the automotive spark and glow plugs market in terms of value and volume. The report highlights potential growth opportunities for the automotive spark and glow plugs market in the forthcoming years, and also includes a review of market drivers, restraints, opportunities, challenges, competitive landscape, and other key aspects related to the automotive spark and glow plugs market. Browse 82 market data tables and 55 figures spread through 137 pages and in-depth TOC on “Automotive Spark & Glow Plugs Market by Vehicle Type (Passenger Car, LCV & HCV), Product Type (Spark plug-Hot & Cold, Glow plug-Metal & Ceramic), Engine Cylinder Layout Type, Market (OE & Aftermarket) & Region - Industry Trends & Forecast to 2019” http://www.marketsandmarkets.com/Market-Reports/automotive-spark-plug-market-149591695.html Early buyers will receive 10% customization on reports. The global market value for spark plugs and glow plugs is projected to reach $ 2,804.83 Million and $1079.47 Million respectively by 2019. In terms of value, the automotive spark plugs market is anticipated to grow at a CAGR of 5.26% whereas the glow plugs market is estimated to grow at a CAGR of 7.85% from the period of 2014 to 2019. Asia-Oceania: Largest Market for Spark Plugs The key countries in the Asia-Oceania region include China, Japan, India, and South Korea. This region is estimated to be the largest market for spark plugs as it accounts for the largest share of passenger cars that run on gasoline. According to the study, Asia-Oceania is estimated to hold the largest share—approximately 46%—of the spark plugs market in 2019. China is likely to be the major revenue contributor in this region. Key players such as Denso Corporation (Japan), NGK Spark Plug Co., Ltd. (Japan), and Robert Bosch GmbH (Germany), have a strong presence in this region. Europe: Largest Market for Glow Plug The European region includes Germany, France, U.K., and Spain. Diesel vehicles are prevalent in this region, resulting in the maximum demand for glow plugs. Vehicle manufacturers, including Volkswagen AG (Germany), Daimler AG (Germany AG), and Renault S.A. (France), include diesel vehicles in their vehicle fleet specifically for the European region. To cater to this demand for glow plugs, Tier 1 glow plug suppliers such as Robert Bosch GmbH (Germany), Denso Corporation (Japan), NGK Spark Plug Co., Ltd. (Japan), BorgWarner Inc. (U.S.), and Federal Mogul Corp, (U.S.) have established a presence in this region. This report illustrates the market for spark and glow plugs in terms of both volume and value. The market size in terms of value from 2012 to 2019 is provided in terms of USD million ($Million), whereas the market size in terms of volume from 2012 to 2019 is provided in terms of thousand units (‘000 Units). With focus on the key countries, the report is broadly classified into geography (Asia-Oceania, Europe, North America and RoW), by type of spark plugs (hot and cold spark plugs), type of glow plugs (metal and ceramic glow plugs), and vehicle type (passenger car, LCVs, HCVs). The types of spark and glow plugs are further segmented on the basis of engine cylinder layout (L3, L4, L5, L6, V4, V6, V8, V10, and V12). The report provides a comprehensive review of market drivers, restraints, opportunities, challenges, and other related aspects in the automotive spark and glow plugs market. It also classifies and defines the automotive spark and glow plugs market in terms of value, providing qualitative as well as quantitative insights into spark and glow plugs. The key players in the market identified and profiled in this report are Denso Corporation (Japan), NGK Spark Plug Co., Ltd. (Japan), BorgWarner Inc. (U.S.), and Robert Bosch GmbH (Germany), among others.

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