United States/WA: The global Spark Plug and Glow Plug market is estimated to account for US$ 5678.9 Million by 2025
Report Pages:[133 Pages]
Top Company Players:- NGK Spark Plug Co. Ltd, Federal-Mogul Corporation, Borgwarner Inc., Denso Corporation, Robert Bosch Gmbh, General Motors (Acdelco Corporation), Delphi Automotive, Valeo, Weichai Power Co. Ltd., and UCI Fram Autobrands (Autolite)
The Spark Plug & Glow Plug segment held the dominant position in the global market and is projected to keep its dominance all through the forecast length. In 2017, the spark plug phase become worth US$ 2414.3 million and is predicted to reach US$ 3801.three million by means of 2025 with a CAGR of five.eight% over the forecast period. growing sales of passenger automobiles that run on fuel is one of the essential elements anticipated to resource in increase of the marketplace over the forecast duration. in step with global organization of Motor car manufacturers, the sales of passenger motors become 70,849,466 gadgets in 2016 up from 69,506,882 units in 2015.
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On the idea of geography, the spark plug and glow plug market is segmented into North america, Europe, Asia Pacific, Latin the us, middle East, and Africa. Asia Pacific held the dominant role within the market in 2017 and is projected to maintain its dominance throughout the forecast period. In 2017, the Asia Pacific market become worth US$ 1542.6 million and is predicted to reach US$ 2679.2 million via 2025 with a CAGR of seven.1%. India, China, Japan and South Korea are a number of the main countries within the spark plugs marketplace on this place. excessive sales of passenger automobiles in the place is one of the main factors for the boom of the spark plug marketplace in this location. for instance, according to international agency of Motor vehicle manufacturers, in 2017, the brand new sales or registration of latest passenger car in China became 24,961,948 devices up from 24,376,902 units in 2016. in addition, in 2017, the new passenger vehicle income or registration in India, Japan, and South Korea was three,227,701 devices, 4,391,one hundred gadgets and 1,495,468 units, respectively. this is predicted to be one of the predominant using elements for increase of the market in Asia Pacific. similarly to this, development in technology in spark plug and glow plug including pressure sensor glow plugs for diesel engines is likewise expected to support in growth of market.
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