The spark plug accessories market is likely to record a strong CAGR of 8.23% during the forecast period. The spark plug accessories market is currently valued at US$ 1185.06 Mn in 2022 and is likely to reach US$ 2605.83 Mn by 2032.
| Report Attribute | Details |
| Estimated Base Year Value (2022) | US$ 1185.06 Mn |
| Anticipated Forecast Value (2032) | US$ 2605.83 Mn |
| Projected Growth Rate (2022-2032) | 8.23% CAGR |
Sales of spark plug accessories have risen as it is the necessary component for all gasoline driven vehicles used in the fuel ignition system.
Increased automotive production and fleet are also projected to contribute to the growth of the spark plug accessories market share.
The report sheds light on the factors improving the sales of spark plug accessories, and, in turn, the opportunities for market players. However, the spark plug accessories market also faces some challenges, which might limit the spark plug accessories market share from reaching its potential.
Some of the key spark plug accessories market trends promoting the demand for spark plug accessories are motorcycles with DTSI (Digital Twin Spark Ignition) engine technology are gaining significant traction across the globe.
The sales of spark plug accessories are directly or indirectly dependent on the production and fleet of automotive and motorcycles.
Growing demand for passenger cars in several developing countries is estimated to propel the demand for spark plug accessories during the forecast period.
Spark plug accessories have a short operational life due to the extreme conditions in which they operate. These plugs usually need to be replaced frequently, as worn-out plugs can cause high fuel consumption due to incomplete combustion of fuel, poor starting, and poor acceleration during high-speed driving.
There is no set time frame for replacement of spark plug accessories. However, the recommended replacement time for conventional spark plug is at a mileage of every 30,000 to 45,000 miles. This in turn is estimated to fuel the demand for spark plug accessories in the after-market sales channel segment.
Increasing urban population, incentives for electric vehicles, decreasing battery prices, strengthening transportation infrastructure is estimated to be few factors for the growing traction towards electric vehicles particularly in the developed countries in Europe and North America.
As spark plug accessories are not used in electric cars, this acts as a significant restraint for the spark plug accessories market.
The ongoing trend gaining momentum in the global sales of spark plug accessories is the use of iridium and other high performance electrode material in the spark plugs, owing to its better efficiency and higher heat and electrical conductivity.
Iridium spark plugs are being used in new model engines of automotive and motorbikes. Increased sales of automobiles and two wheelers are anticipated to fuel the demand for iridium spark plugs during the forecast period.
Spark plug accessories market depends upon the performance and sales of end use applications such as passenger cars, light commercial vehicles, heavy commercial vehicle and two wheelers across all the regions, Asia Pacific, North America and Western Europe owing to have significant production rate for automotive industry, will draw the major spark plug accessories market share in the current and upcoming years.
The potential of the market in the Middle East and Africa, Latin America and Eastern Europe region will be on the slowest side of all the other regions due to low manufacturing activities in the automotive sector and lack of a reliable, robust supply chain.
The key players of thespark plug accessoriesmarket are focusing on enhancing and adopting strategies like enhancing the durability, sizes and its use to thrive business. This is driving the sales of spark plug accessories.
These market players are anticipated to drive the grille guardmarket by introducing new products and expanding geographically.
| Report Attribute | Details |
| Growth Rate | CAGR of 8.23% from 2022 to 2032 |
| Base year for estimation | 2022 |
| Historical data | 2015 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Product Type, Vehicle Type, Sales Channel, End Use Industries, Region |
| Regional scope | North America; Latin America; Europe; Middle East and; Africa (MEA); East Asia; South Asia; Oceania |
| Country scope | U.S., Canada, Mexico, Brazil, Argentina, Germany, Italy, France, U.K, Spain, Russia, India, Indonesia, Thailand, China, Japan, South Korea, Australia & New Zealand, GCC Countries, South Africa, North Africa |
| Key companies profiled | Lectric Limited, ACDelco, Federal-Mogul Motorparts LLC (Champions Auto Parts), Holley Performance Products, NGK Spark Plugs, Pertronix Ignition Products, Taylor Cable Products, Inc. |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
North America, Europe, and Asia Pacific are likely to hold significant market share.
The spark plug accessories market is anticipated to reach a valuation of US$ 2605.83 Mn by 2032.
The spark plug accessories market is currently valued at US$ 1185.06 Mn.
Lectric Limited, ACDelco, Federal-Mogul Motorparts LLC (Champions Auto Parts), Holley Performance Products, NGK Spark Plugs, Pertronix Ignition Products, & Taylor Cable Products, Inc. are some players in the market.
The spark plug accessories market is likely to record a CAGR of 8.23% through 2032.
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