Market Research Report

India Spark & Glow Plugs Market Research Report: Forecast (2024-2030)

India Spark & Glow Plugs Market Report - By Type (Spark Plug, (Hot Spark Plug, (Cold Spark Plug), (Glow Plug (Metal Glow Plug, Ceramic Glow Plug)), By Material (Copper, Iridium, Pl...atinum, Others (Nickel Alloy, Silver, etc.)), By Vehicle Type (Two-wheeler, Passenger Cars, Commercial Vehicles, (Heavy Commercial Vehicles (HCV) Light Commercial Vehicles (LCV))), By Demand Category (OEM, Aftermarket), and Others Read more

  • Automotive
  • Feb 2024
  • 164
  • AT10223

Market Definition

A spark plug is an electrical device used in an internal combustion engine to produce a spark that ignites the air-fuel mixture in the combustion chamber. As part of the engine's ignition system, the spark plug receives high-voltage electricity (generated by an ignition coil in modern engines and transmitted via a spark plug wire), which it uses to generate a spark in the small gap between the positive & negative electrodes. On the other hand, a glow plug is a device predominantly used in diesel engines to aid in the starting process, particularly in cold weather conditions.

Market Insights & Analysis: India Spark & Glow Plugs Market (2024-30):

The India Spark & Glow Plugs Market size is estimated to grow at a CAGR of around 5.5% during the forecast period, i.e., 2024-30. The market is anticipated to experience growth driven by an increase in automotive production worldwide. The direct correlation between sales of these plugs & automotive production is evident, particularly with the automotive industry's significant growth, even amid economic instability. Emerging economies, characterized by rising urbanization and stable economic conditions, are expected to contribute more to automotive production than developed economies.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 5.5%
Region Covered North, South, East, West, North East
Key Companies Profiled Robert Bosch GmbH, Niterra India Pvt. Ltd., Denso India Pvt. Ltd., Weichai Power Co. Ltd., E3 Spark Plugs, Other Local Players (Vishvam Automobiles, Umax Auto Spares Opc Pvt. Ltd., etc.)
Unit Denominations USD Million/Billion

 

Additionally, stringent fuel emission regulations are poised to be a key factor propelling market growth. Spark plugs play a crucial role in ensuring smooth ignition and engine operation, leading to lower emissions, while glow plugs enhance the performance of diesel engines. This has led to an increased adoption of advanced spark plugs and glow plugs by automakers to comply with stringent emission norms. The expanding vehicle population is a primary driver in the India Spark & Glow Plugs Market, fueled by the increasing middle class & rising disposable incomes. The continuous demand for various types of vehicles, including two-wheelers, commercial vehicles, and passenger cars, is evident. The market's growth is further accentuated by the shift towards stricter emission norms & fuel efficiency standards mandated by Indian regulatory authorities. As emission standards are raised, manufacturers are compelled to integrate advanced spark plug technologies to enhance combustion efficiency & reduce emissions.


India Spark & Glow Plugs Market Research Report: Forecast (2024-2030)

Notably, an emerging trend in the Indian market is the innovation in spark plug technology, with manufacturers focusing on developing plugs that improve engine performance, fuel efficiency, and durability. Moreover, spark plugs made of materials like iridium & platinum, known for their ability to withstand high temperatures and provide consistent ignition over extended lifespans, are gaining traction, thus instigating the market share in the forthcoming years.

India Spark & Glow Plugs Market Driver:

Increasing Vehicle Production & Ownership Boosting Demand for Spark & Glow Plugs – The India Spark & Glow Plugs Market has experienced a significant boost, propelled by the notable surge in the country's vehicular population, spanning two-wheelers, passenger cars, commercial vehicles, and off-road vehicles. The robust growth in both the production & sales of vehicles is directly linked to an increased demand for spark plugs. This heightened demand is attributable to the expanding middle-class demographic accompanied by a concurrent rise in disposable incomes. This demographic shift has been a key driver in fostering a substantial increase in vehicle ownership, a trend prominently observed in urban and semi-urban areas across the nation. For instance:

  • In 2022, data from the Society of Indian Automobile Manufacturers revealed that new vehicle sales in India reached approximately 4.25 million units, showcasing an uptick from nearly 4 million units recorded in 2021.

This socio-economic transition, marked by a growing number of individuals in these regions opting for vehicle ownership plays a pivotal role in driving the Spark & Glow Plugs Market.

India Spark & Glow Plugs Market Challenge:

Popularity of Electric Vehicles to Hamper the Spark & Glow Plugs Market – The increasing popularity of electric vehicles (EVs) & hybrid vehicles on a global scale poses a notable challenge to the India Spark & Glow Plugs Market, which has long been associated with internal combustion engine vehicles. While internal combustion engine vehicles still dominate the automotive market, the growing trend towards sustainable & eco-friendly transportation options, such as electric & hybrid vehicles, signifies a shift in consumer preferences.

As more consumers embrace EVs, the demand for traditional spark plugs diminishes, creating a potential impact on the overall market share of spark plug manufacturers. This paradigm shifts urges manufacturers to anticipate and adapt their strategies to align with the evolving automotive landscape. Moreover, diversification into alternative technologies or the development of specialized spark plugs for hybrid applications may become essential for manufacturers to remain competitive in the automotive industry.

India Spark & Glow Plugs Market Trend:

Advancements in Ignition Technology to be a Trending Aspect for the Market Expansion – Environmental regulations have fueled the development of modern, compact, and efficient gasoline engines, necessitating innovative ignition systems. The market witnessed a surge in demand for spark plugs due to the design of long, slender plugs that fit small engine spaces. The introduction of iridium spark plugs, known for longevity & performance in harsh conditions, is set to boost market demand. Concurrently, Indian companies are entering the market with advanced ignition plug technologies, adapting to changing engine designs. For instance:

  • In 2023, Niterra India Pvt. Ltd. launched the K-Plug and Kamaboko MR7C-9N for Maruti K-Series and Honda HET engines, respectively, emphasizing improved performance.

The evolution of modern, fuel-efficient gasoline engines and the introduction of advanced ignition technologies, such as iridium spark plugs, are driving a significant transformation in the India Spark & Glow Plugs Market. The proactive entry of Indian companies with innovative solutions further underscores the industry's commitment to adapting to changing engine dynamics, highlighting a promising future for growth.

India Spark & Glow Plugs Market (2024-30): Segmentation Analysis

The India Spark & Glow Plugs Market study by MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the regional level. In accordance to the analysis, the market has been further classified as:

Based on the Type:

  • Spark Plug
    • Hot Spark Plug
    • Cold Spark Plug
  • Glow Plug
    • Metal Glow Plug
    • Ceramic Glow Plug

The Spark Plug is a prominent player in the India Spark & Glow Plugs Market, and has established its dominance by capturing the largest market share. A key advantage lies in its affordability, rendering accessibility to a broad spectrum of vehicle owners nationwide. Its adaptability to the prevalent tropical climate in most Indian regions distinguishes it from competitors, ensuring optimal performance in warmer conditions.

Particularly adapting ignition & maintaining reliable engine operation during the intense Indian summers, the Spark Plug has become the preferred choice for numerous vehicle owners seeking consistent & efficient spark generation. Furthermore, its widespread availability and compatibility across a diverse range of vehicles contribute significantly to its market dominance, making it one of the popular choices among Indian drivers.

Based on Material:

  • Copper
  • Iridium
  • Platinum
  • Others (Nickel Alloy, Silver, etc.)

Copper spark plugs are favorable in performance-oriented applications & modified engines, offering improved combustion & power delivery. With its strong presence, this segment is poised to grasp a potential share of the India Sparks & Glow Plugs Market during the projected years. Being widely available & cost-effective, they are commonly recommended for older vehicles & vintage models, as well as utilized in some high-performance cars.

However, it is crucial to adhere to the vehicle manufacturer's recommendations or seek advice from a trustworthy mechanic to determine the suitable spark plug type & replacement interval based on the specific vehicle model & driving conditions. Moreover, different engines & applications may have distinct requirements for optimal performance and durability. These spark plugs, characterized by a center electrode made of copper, a highly conductive metal, are commonly employed in internal combustion engines, thus infusing their demand.

Gain a Competitive Edge with Our India Spark & Glow Plugs Market Report

  • India Spark & Glow Plugs Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • India Spark & Glow Plugs Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The India Spark & Glow Plugs Market is expected to grow at a compound annual growth rate (CAGR) of around 5.5% from 2024 to 2030.

   A. The increasing vehicle production & ownership boosting demand for spark & glow plugs to support the market growth during 2024-30.

   A. Robert Bosch Limited, Niterra India Pvt. Ltd., Stitt Spark Plug, Denso India Pvt. Ltd., E3 Spark Plugs, Weichai Power Co. Ltd., and others Local Players (Vishvam Automobiles, Umax Auto Spares Opc Pvt. Ltd., etc.), are the top companies in the India Spark & Glow Plugs Market.

   A. The Copper segment held the largest share of the India Spark & Glow Plugs Market.

   A. The advancements in ignition technology to be a key trend shaping the India Spark & Glow Plugs Market.

  1. Market Segmentation
  2. Introduction
    1. Research Process
    2. Assumption
    3. Market Definition
  3. Executive Summary
  4. India Spark & Glow Plug Market Trends & Insights
  5. India Spark & Glow Plug Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. India Spark & Glow Plug Market Hotspot & Opportunities
  7. India Spark & Glow Plug Market Pricing Analysis
  8. India Spark & Glow Plug Market Supply Chain Analysis
  9. India Spark & Glow Plug Market Regulations, Policies & Standards
  10. India Spark & Glow Plug Market Outlook, 2019- 2030F
    1. Market Size and Analysis
      1. By Revenues (USD Million)
    2. Market Share and Analysis
      1. By Type
        1. Spark Plug- Market Size & Forecast 2019-2030F, (USD Million)
          1. Hot Spark Plug
          2. Cold Spark Plug
        2. Glow Plug- Market Size & Forecast 2019-2030F, (USD Million)
          1. Metal Glow Plug
          2. Ceramic Glow Plug
      2. By Material
        1. Copper- Market Size & Forecast 2019-2030F, (USD Million)
        2. Iridium- Market Size & Forecast 2019-2030F, (USD Million)
        3. Platinum- Market Size & Forecast 2019-2030F, (USD Million)
        4. Others (Nickel Alloy, Silver, etc.)- Market Size & Forecast 2019-2030F, (USD Million)
      3. By Vehicle Type
        1. Two-wheeler- Market Size & Forecast 2019-2030F, (USD Million)
        2. Passenger Cars- Market Size & Forecast 2019-2030F, (USD Million)
        3. Commercial Vehicles- Market Size & Forecast 2019-2030F, (USD Million)
          1. Heavy Commercial Vehicles (HCV)- Market Size & Forecast 2019-2030F, (USD Million)
          2. Light Commercial Vehicles (LCV)- Market Size & Forecast 2019-2030F, (USD Million)
      4. By Demand Category
        1. OEM- Market Size & Forecast 2019-2030F, (USD Million)
        2. Aftermarket- Market Size & Forecast 2019-2030F, (USD Million)
      5. By Region
        1. North
        2. East
        3. West
        4. South
      6. By Company
        1. Competition Characteristics
        2. Revenue Shares & Analysis
  11. India Spark Plug Market Outlook, 2019- 2030F
    1. Market Size and Analysis
      1. By Revenues (USD Million)
    2. Market Share and Analysis
      1. By Type
        1. Hot Spark Plug- Market Size & Forecast 2019-2030F, (USD Million)
        2. Cold Spark Plug- Market Size & Forecast 2019-2030F, (USD Million)
      2. By Material- Market Size & Forecast 2019-2030F, (USD Million)
      3. By Vehicle Type- Market Size & Forecast 2019-2030F, (USD Million)
      4. By Demand Category- Market Size & Forecast 2019-2030F, (USD Million)
  12. India Glow Plug Market Outlook, 2019- 2030F
    1. Market Size and Analysis
      1. By Revenues (USD Million)
    2. Market Share and Analysis
      1. By Type
        1. Metal Glow Plug - Market Size & Forecast 2019-2030F, (USD Million)
        2. Cold Spark Plug - Market Size & Forecast 2019-2030F, (USD Million)
      2. By Material- Market Size & Forecast 2019-2030F, (USD Million)
      3. By Vehicle Type- Market Size & Forecast 2019-2030F, (USD Million)
      4. By Demand Category- Market Size & Forecast 2019-2030F, (USD Million)
  13. India Spark & Glow Plug Market Key Strategic Imperatives for Success and Growth
  14. Competitive Outlook
    1. Company Profiles
      1. Robert Bosch GmbH
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Niterra India Pvt. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Denso India Pvt. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Weichai Power Co. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. E3 Spark Plugs
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Other Local Players (Vishvam Automobiles, Umax Auto Spares Opc Pvt. Ltd., etc.)
  15. Disclaimer


India Spark & Glow Plugs Market