Global spark plugs market is segmented according to distribution channels

The industry spark plugs market has been divided into electrode materials, type and end use. This report provides detailed insights on the market and helps industry consultants, equipment manufacturers and other stakeholders align their strategies. The report also covers the regional market for this product. Its analysis covers the North America, Europe and Asia Pacific regions. This report covers the key aspects that determine the market size and growth prospects. The study also identifies the key companies in the market.

Global spark plugs market is segmented according to distribution channels: OEM and aftermarket. Aftermarket spark plugs segment is expected to witness the CAGR over the coming years, while the OEM segment is projected to remain the large market. This segment is expected to generate enormous revenues for automotive component manufacturers. These companies are continuously focusing on the aftermarket segment as it generates high profit margins. 

Global spark plug market size is expected to increase by approximately 3% a year. This growth is attributed to a combination of factors: growing middle-class population, increasing sales of automotive vehicles, and stringent government regulations. Rising automotive sales have also led to more advanced spark plug technology. Furthermore, increased production of commercial vehicles is driving demand in this market. Further, the spark plug industry is expected to continue growing in the coming years, as more cars are purchased in many countries around the world. 

The overall industry spark plugs market is expected to grow by approximately 5% over the next five years. The growth is expected to continue to be driven by technological advancements and increased consumer spending power. Fuel-efficient vehicles are the primary driver of this industry. This trend is expected to continue over the next several years, with the growth of the industry accelerating in the coming years. The market is segmented by region, with Europe, North America, and Asia Pacific accounting for the large share.

Various types of industrial spark plugs can be used for different applications. The cold spark plug firing end does not transfer heat as rapidly as the hot one, and the hot spark plug firing end transfers heat much more efficiently. These spark plugs are classified by electrode material, including platinum, copper, iridium, and iridium. Copper electrode material is expected to dominate the automotive spark plug market during the forecast period. This is due to its better conductivity and reduced cost.