Spark Plug Market by Type, by Material, by End-Use, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2020-2030

PORTLAND, OR, UNITED STATES, October 10, 2023 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global spark plug market was accounted for $3.17 billion in 2020, and is estimated to reach $5.13 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/1873

Covid-19 scenario:

The Covid-19 outbreak created uncertainty in the automotive and spark plug industry. The prolonged lockdown resulted in disruption of the supply chain and a fall in business confidence.
Due to lockdown and restrictions on travel, the demand for automotive and sales of passenger cars decreased. This, in turn, hampered the sales of spark plugs.
However, the growth in sales of commercial vehicles post-pandemic would open new opportunities in the automotive and spark plug industries.
The report divides the global spark plug market on the basis of type, electrode material, end use, sales channel, and region.

Based on type, the hot spark plug segment held the largest share in 2020, accounting for nearly two-thirds of the market. However, the cold spark plug segment is projected to manifest the highest CAGR of 5.9% during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/spark-plug-market/purchase-options

On the basis of end use, the automotive segment held the lion’s share in 2020, contributing to nearly four-fifths of the market. However, the marine segment is estimated to portray the highest CAGR of 7.3% from 2021 to 2030.

The global spark plug market share is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2020, accounting for more than two-fifths of the market. However, the market across Europe is anticipated to showcase the highest CAGR of 6.1% during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/1873

The global spark plug market includes an in-depth analysis of the prime market players such as Denso Corporation, E3 Spark Plugs, Ford Motor Company, General Motors Company, Marelli Holdings Co., Ltd., NGK Spark Plug Co., Ltd., Robert Bosch GmbH, Tenneco Inc., Valeo S.A., and Weichai Power Co., Ltd.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

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David Correa
Allied Market Research
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