The global automotive aftermarket for spark plugs is projected to increase by $136.57 million from 2024 to 2028. According to Technavio, the market is expected to grow at a CAGR of nearly 1.85% during this period.
The shift towards platinum and iridium spark plugs, known for their heat resistance and efficiency, is a significant trend driving market growth. Previously exclusive to luxury vehicles, these materials are now used in mass-market cars and light commercial vehicles. Modern engines' high combustion temperatures necessitate durable materials like platinum, iridium, and rhodium. Iridium plugs' low voltage requirement reduces ignition system load, ensuring precise sparks for efficient fuel combustion.
This trend spans gasoline and diesel engines in passenger cars, light commercial vehicles, and heavy commercial vehicles. The need for engine downsizing, increased fuel economy, and stringent emission norms further drives market growth. The spark plug market includes various technologies such as plasma jet ignition and tube spurt ignition. Urbanisation and economic development also fuel the demand for automotive production and maintenance, including spark plug replacement cycles. The aftermarket segment caters to hybrid vehicles and two-wheelers as well.
Challenges
The rise of electric vehicles (EVs) and hybrid powertrains is reshaping the automotive aftermarket for spark plugs. Traditional spark plugs are being phased out in favour of alternatives for EVs, which do not require them, although hybrids may still use them less frequently. The use of spark plugs in hybrids necessitates knowledge of replacement schedules and specific requirements for different vehicle types. Other factors influencing the market include catalysts, ignition systems, plasma-assisted combustion, and Pulstar Spark Plugs. Additionally, oil price volatility, emission regulations, and functional issues in high-performance engines, sedans, and conventional diesel engines impact the market. The maritime sector, industrial applications, and OEM sales channels also contribute to the spark plug market.
Passenger Cars
In the global automotive industry, the application segment of the spark plugs and glow plugs market primarily caters to vehicles powered by internal combustion engines, including gasoline and diesel engines. With growing concerns over emissions and fuel efficiency, there is a significant shift towards gasoline engines in passenger cars and light commercial vehicles. Europe is leading this transition due to stricter emission norms and increasing dissatisfaction with diesel cars' pollution.
The internal combustion engine market is undergoing transformations such as engine downsizing, fuel efficiency improvements, and the adoption of advanced ignition systems like plasma jet ignition and tube spurt ignition. Spark plugs and glow plugs play a crucial role in these engines' performance and durability. High-performance spark plugs and metal glow plugs are essential components for maintaining optimal engine efficiency in various vehicle applications.
The automotive aftermarket segment for spark plugs and glow plugs is expected to grow significantly as the demand for maintenance and replacement increases. The shift towards electric vehicles (EVs) and hybrid vehicles is also influencing the market dynamics, with OEMs and aftermarket players focusing on developing advanced ignition systems for these vehicles.
Courtesy: Technavio. Photo is representational: courtesy: Bosch.
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