Spark Plug Market Report 2024

The spark plug market size has grown strongly in recent years. It will grow from $3.96 billion in 2023 to $4.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth during the historic period can be attributed to several factors, including the global increase in vehicle production, growing demand for high-performance engines, advancements in engine technology aimed at enhancing efficiency, rising adoption of gasoline direct injection engines, and overall growth in automotive manufacturing activities worldwide.

The spark plug market size is expected to see strong growth in the next few years. It will grow to $5.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to several factors, including the shift towards electric vehicles leading to a reduction in traditional spark plug demand, increased adoption of turbocharged engines in both conventional and hybrid vehicles, the expanding interest and growth of electric vehicles, growth in the automotive aftermarket sector, and the expansion of automotive production in emerging markets. Major trends expected during this period include advancements focused on improving durability and performance of spark plugs, development of specialized spark plugs for hybrid and electric vehicles, adoption of multi-electrode spark plugs for more efficient combustion, increasing demand for high-performance materials such as iridium and platinum in spark plugs, and ongoing technological innovations in spark plug design and manufacturing.

The spark plug market is poised for growth driven by increasing automotive production worldwide. This growth is spurred by rising global demand for vehicles, fueled by economic expansion, urbanization, and higher consumer purchasing power. Spark plugs play a crucial role in automotive production by igniting the air-fuel mixture within the combustion chamber of gasoline-powered internal combustion engines, essential for their operation. For example, Statistics Canada reported in June 2024 that Canada saw a slight 0.3% increase in registered road motor vehicles in 2022, totaling 26.3 million vehicles, highlighting the steady rise in automotive production and thereby boosting demand for spark plugs.

Leading companies in the spark plug market are concentrating on developing innovative products, such as durable spark plugs, aimed at enhancing longevity and performance. A durable spark plug is engineered to withstand prolonged usage and harsh operating conditions without significant degradation in performance or lifespan, ensuring consistent ignition and operational efficiency over extended periods. For instance, in January 2021, Robert Bosch GmbH introduced the EVO spark plug, tailored for the rigorous demands of turbocharged gasoline direct injection (GDI) engines. The EVO spark plug is designed to deliver reliable ignition performance throughout its extended service life, even under extreme conditions encountered in modern engines. Featuring a laser-welded iridium alloy pin on the center electrode and a platinum-iridium alloy plate on the ground electrode, this spark plug offers exceptional durability and wear resistance.

In August 2022, Steelbird, a prominent automotive filter manufacturer in India, collaborated with Hella to launch a new line of spark plugs and horns targeting the two-wheeler segment in India. This partnership combines Steelbird's extensive marketing and distribution network in India with Hella's expertise in premium spark plugs and horns, expanding beyond filters and rubber parts to strengthen its presence in the automotive components sector. Hella Inc., based in Germany, is renowned for its high-quality spark plugs and other automotive components.

Major companies operating in the spark plug market are Robert Bosch GmbH, Hitachi Ltd., Denso Corporation, Weichai Power Co. Ltd., Valeo SA, Tenneco Inc., BorgWarner Inc., NGK Spark Plug Co. Ltd., Enerplus Corporation, Delphi Automotive LLP, Zhuzhou Torch Spark Plug Co. Ltd., Magneti Marelli SPA, ACDelco, Autolite (India) Limited, Motorcraft, Pulstar Inc., Stitt Spark Plug Company, E3 Sparkplugs, Brisk Co., Champion Industrial Contractors Inc., KLG Spark Plugs.

Asia-Pacific was the largest region in the spark plug market in 2023. The regions covered in the spark plug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the spark plug market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A spark plug is a critical component that transfers electric current from the ignition system to the combustion chamber of an internal combustion engine. It generates a spark to ignite the air-fuel mixture, initiating the combustion process essential for starting and maintaining efficient engine operation.

The main types of spark plugs include hot spark plugs and cold spark plugs. Hot spark plugs have a higher heat range, designed to dissipate heat slowly and maintain a higher operating temperature. Materials used for spark plugs range from copper to iridium, platinum, and others. Spark plugs find applications across automotive, marine, aerospace, and other industries, and are distributed through channels such as original equipment manufacturers (OEMs) and the aftermarket.

The spark plug market research report is one of a series of new reports that provides spark plug market statistics, including the spark plug industry's global market size, regional shares, competitors with a spark plug market share, detailed spark plug market segments, market trends and opportunities, and any further data you may need to thrive in the spark plug industry. This spark plug market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The spark plug market consists of sales of platinum spark plugs, silver spark plugs, and surface discharge spark plugs. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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