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According to the latest market report published by Persistence Market Research titled "Global Market Study on Automotive Candles and Igniters: Ceramic Glow Candles Will Be the Dominant Segment During the Period forecast – 2022, the market for spark plugs and glow plugs is estimated at US $ 5.6 billion at the end of 2016 and is expected to increase at a moderate CAGR during the period forecast (2016-2022).
The automotive spark plug is a device designed to fit into each cylinder of a gasoline internal combustion engine to produce electric spark for ignition of the air-fuel mixture. The automobile glow plug is a device mounted in each cylinder of a diesel engine, with a heating element to heat fuel and air entering to ensure efficient combustion when the engine is cold. Automotive spark plugs and glow plugs are generally categorized by type in hot ignition candles, cold spark plugs, metal glow plugs and ceramic glow plugs. Based on the type of vehicle, the market was segmented into passenger cars, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). The market is segmented into OEM (original equipment manufacturer) and aftermarket, based on the sales channel.
The increase in automobile production and vehicle fleet, the stringent standards of energy efficiency and emissions are expected to emerge as engines of automotive growth. market for candles and glow plugs during the forecast period. Long-term commercial contracts from spark makers and glow plugs with OEMs help them reduce production costs and increase profit margins while protecting them from fluctuations in raw material prices. Such factors should further fuel market growth over the forecast period. However, rising demand for electric vehicles due to growing environmental awareness, fluctuating fuel prices and the current drive-down trend is expected to slow growth in the global spark and glow plug market. Global demand for automotive spark plugs and spark plugs is expected to increase to 893,437 units by 2022 at a moderate CAGR during the forecast period.
In terms of market value, the Asia-Pacific is expected to dominate the global market for candles and spark plugs during the forecast period. Europe is expected to be the second largest market, accounting for a 22.0% share of the estimated global market value at the end of 2016. The market for candles and candles 39, MEA's automotive ignition should extend to the highest CAGR in terms of value during the forecast period.
Based on the type of product, the ceramic glow plug segment should forecast period. The growth in this segment is mainly due to the growing demand for diesel engines in developing countries such as China, Mexico and Brazil. Based on the vehicle type, the revenue contribution of the passenger car segment is expected to increase by 2.5% over the forecast period. Based on the sales channel, the spare parts segment is expected to have a dominant share of revenues over the forecast period.
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L'expansion of existing manufacturing facilities and collaboration with technology providers are major trends among key manufacturers to increase their market presence and improve their product portfolio. The main players in the world market of automotive spark plugs and spark plugs are NGK Spark Plug Co. Ltd., Federal-Mogul Corporation, Denso Corporation, Robert Bosch GmbH, Borgwarner Inc., Weichai Power Co., Ltd., Valeo SA , ACDelco Corporation, Magneti Marelli Aftermarket NA
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