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The automotive aftermarket for spark plugs market size is estimated to grow at a CAGR of 1.85% between 2023 and 2028. The market size is forecast to increase by USD 136.57 million. The growth of the market depends on several factors such as an increase in vehicle parc globally, demand for direct-injection engines spurring early replacement of spark plugs, and declining sales of diesel cars leading to more market opportunity for gasoline cars
This automotive aftermarket for spark plugs market report extensively covers market segmentation by application (passenger cars and commercial vehicles), type (hot spark plugs and cold spark plugs), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
An increase in vehicle parc globally is notably driving the market growth. There has been a continuous increase in vehicle parc (the number of vehicles in use at any given time) across all the regions. The major factor contributing to the rise in vehicle parc is the continuous rise in the number of new registrations, and the longer life of cars has led to a rise in vehicle parc across the world. In addition, OEMs have extended the warranties on their vehicle, which have also resulted in the scaling of car reliability.
Moreover, the average life of the car is relatively higher in this region. As a result, APAC will witness the maximum incremental growth in terms of sales of automotive aftermarket spark plugs. This, in turn, will drive the growth of the market in focus during the forecast period.
Growing preference for platinum and iridium spark plugs is an emerging trend shaping the market growth. There has been a growing preference among OEMs for spark plugs manufactured using platinum and iridium. The demand has also been witnessed in the lower segment vehicles. Earlier, platinum and iridium spark plugs were mainly used in the luxury segment; however, now they are being adopted in mass-selling vehicles, too. Modern automotive engines operate at high combustion temperatures, causing greater electrode wear. This has resulted in the need for more heat-resistant materials, such as platinum, iridium, and rhodium. Iridium spark plugs require a low voltage, unlike other spark plugs that reduce the load on the ignition system.
However, a precise spark delivered every time will result in efficient combustion, thus increasing fuel economy. Bosch has extended its spark plug series with its double iridium spark plug, having an average service life of up to four times that of standard copper plugs. Autolite is also focusing on more designated ignition. As a result, it launched an Iridium XP-enhanced alloy spark plug. Due to such developments, the market in focus is expected to grow during the forecast period.
Rapid advancements in automotive technology are a significant challenge hindering market growth. The rapid growth of automotive technology, notably the rising adoption of EVs and hybrid vehicles, poses a substantial challenge to the market in focus. Spark plugs have traditionally been a standardized component in internal combustion engine vehicles, but as the automotive landscape evolves toward electrification and more advanced hybrid powertrains, the need for a greater variety of spark plugs has arisen. EVs do not need spark plugs, although hybrids may utilize them less frequently. The use of spark plugs in EVs requires vehicle manufacturers and owners to have knowledge of when and where to change spark plugs, besides being familiar with the specific requirements of different vehicle types.
In addition, failure to handle this challenge appropriately may result in misdiagnosis, wrong installation, and potentially impaired vehicle performance and safety, which emphasizes the significance of continuous training and adaptability in the global automotive aftermarket for spark plugs. Owing to such factors, the market in focus is expected to witness challenges to its growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Aftermarket for Spark Plugs Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BorgWarner Inc. - The company offers automotive aftermarket spark plugs such as Delphi XS10390 Spark Plug Wire Set, and Delphi XS10241 Spark Plug Wire Set, under the brand, Delphi.
The research report also includes detailed analyses of the competitive landscape of the market and information about 14 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger cars segment is estimated to witness significant growth during the forecast period. Across all regions, the number of gasoline engines is higher than the number of diesel engines in the passenger cars segment. In terms of the increase in the penetration of gasoline engines, the maximum growth will come from Europe because there is a growing dissidence in the use of diesel cars due to the amount of pollution caused by them.
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The passenger cars segment was the largest segment and was valued at USD 1,304.30 million in 2018. The market is expected to witness a shift in favor of gasoline car sales because multiple real-time emission tests show diesel as a polluting fuel. The European Commission has imposed stringent emission control measures and taxation to limit the sales of diesel cars and reduce pollution. Thus, in Europe, the use of diesel engines in passenger cars will fall approximately to 38% by 2021. The sales volume of diesel engines in the passenger cars segment is witnessing a decline, as OEMs prefer to include gasoline engine cars or alternative fuel cars to improve the average fuel economy of their fleet, owing to stringent emission norms. This will drive the growth of the global automotive aftermarket for spark plugs during the forecast period.
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APAC is estimated to contribute 78% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The automotive aftermarket for spark plugs in APAC is expected to register one of the fastest growth rates during the forecast period. China is a major contributor and represents the largest market for automotive GDI engines in APAC. A primary factor for the growth of the market is the growing adoption of passenger cars and LCVs in China. Along with China, Japan and India are crucial contributors to the demand in the automotive aftermarket for spark plugs due to high-volume automobile production. Increasing income levels and the expanding middle-class population have resulted in a huge demand for automobiles in the emerging economies of APAC, such as India and Indonesia. The growing adoption of automobiles in these economies is driving the growth of the regional automotive aftermarket for spark plugs.
Additionally, most countries in the region follow stringent emission norms, which have been derived from the Euro VI norms. For instance, the Government of India introduced the BS-VI norms in April 2020, which are based on the Euro VI emission standards. This is driving the adoption of fuel-efficient technologies, such as spark plugs in automobiles, which will be a positive driver for the growth of the regional market during the forecast period.
The COVID-19 pandemic adversely affected the regional market in 2020. However, mass COVID-19 vaccination initiatives undertaken in 2021 led to a slow recovery. The regional market experienced a significant rebound as vaccination rates increased, economies reopened, and traffic and transportation activities resumed. Furthermore, as environmental concerns continue to influence the automotive industry, the regional market is expected to grow during the forecast period due to factors such as growing vehicle parc, the increasing adoption of electric vehicles (EVs) that still require spark plugs for some components, and technological advancements in spark plug design to enhance engine efficiency and reduce emissions. Overall, the regional market in focus is expected to witness growth during the forecast period.
The automotive aftermarket for spark plugs market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Automotive Aftermarket For Spark Plugs Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.85% |
Market Growth 2024-2028 |
USD 136.57 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
1.67 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 78% |
Key countries |
US, China, India, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
BorgWarner Inc., E3 Spark Plugs, First Brands Group, Ford Motor Co., General Motors Co., Marelli Holdings Co. Ltd., Niterra Co. Ltd., Robert Bosch GmbH, Stellantis NV, Suzuki Motor Corp., Tenneco Inc., Valeo SA, WeiChai Holding Group Co. Ltd., and DENSO Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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