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レポート概要
| 本調査レポートは、点火プラグ及びグロープラグの世界市場について調査・分析した資料で、点火プラグ及びグロープラグの市場概要、動向、セグメント別市場規模、地域別分析、競争状況、企業情報、市場機会分析などで構成されています。 |
The Spark plugs and Glow Plugs market is anticipated to register a CAGR of over 5.5%, during the forecast period (2020 – 2025).
– Spark plugs and Glow plugs are integral part of gasoline and diesel ignition systems. Despite, a slight decline in global vehicle production number in 2019, the demand for spark and glow plugs is anticipated to continue till the forecasted period as the aftermarket channel is consistently active in firm’s sales.
– One of the major factors driving the growth of the market is increasing demand for, and sales of, commercial vehicles (owing to rise in the e-commerce sector, resulting in growth in the logistics industry and construction sector). However, factors, such as growing penetration of, and demand for, electric vehicles, as well as functional issues, may hinder the growth of the market.
– Platinum and Iridium based spark plugs are the widely used varieties of which Iridium based cold type spark plugs are majorly used in high performance engines. On the other hand, demand for factory fitted glow plugs is observing a decline in sedans owing to the transformation to down sized gasoline engines from conventional diesel engines.
– Some of the major companies that dominate the market studied are NGK Spark Plug Co., Ltd., Robert Bosch GmbH, Denso Corp., and BorgWarner, among others.
Key Market Trends
Increasing demand for Electric Vehicles Hindering the Growth of the Market
The electric vehicle market has been witnessing a healthy growth in the recent years, with about 1.1 million units of battery electric vehicles (BEVs) sold during the first half of 2019 representing a 46% increase as compared to 2018.
– This spike in sales has been the result of an increase in regulatory norms by various organizations and governments to control emission levels and to propagate zero-emission vehicles.
As a result of the aforementioned reasons, the automakers have been continually working and focusing to increase their expenditure on the R&D of electric vehicles, which in turn, is aiding the OEMs to market electric vehicles in the future.
– This strategy had a strong impact on people, as there was a considerable change in the purchase pattern from conventional IC engine vehicles to electric vehicles.
– The change has not decreased the sales of IC engine vehicles, but rather created a promising market for electric vehicles in the recent times, as well as during the forecast period.
The governments across the world are pushing the EV envelope to reduce the rising pollution from fuel-powered vehicles.
– For instance, France and the United Kingdom have set a deadline for the automakers to go fully electric by 2040.
– China, which sold half a million EVs in 2016, has set out its own roadmap to completely make its transportation electric by 2030.
– Last year, Germany, which is home to major automakers, such as Volkswagen, BMW, and Mercedes, decided to ban IC engines by 2030.
The premium carmakers, like JLR and Volvo, have also decided to electrify all their vehicles by 2020. In addition, about 200 new EV model launches have been announced in 2019.
The push is coming from the other end too. A coalition called ‘EV100’ (of large MNCs, including Unilever, DHL, and Ikea,) wants to make electric transport more popular (and thereby, the new normal). It wants to use its collective power and influence to build its demand, cut costs for EVs, and send clear directional signals to automakers.
Thus, the rising trend of electrification of vehicles is expected to slightly hinder the factory fitted spark and glow plug’s market growth.
Asia-Pacific and Europe to Witness Significant share during the Forecast Period
According to Eurostat, about 75% of inland cargo transports within the European Union, which translates to about 1,750 billion metric ton-kilometer (tkm), takes place by road. In some European countries, this percentage goes as high as 90%, or more.
As a result, the demand for commercial vehicles and subsequently the glow plugs from OEM and aftermarket channels has been continually increasing in the region, owing to the growing logistics industry, as well as the increasing usage of light commercial vehicles, such as vans (for ride hailing services).
The underlying factor driving the growth of glow plugs for light commercial vehicle market in Europe is the increased preference for pickup trucks and small vans, over heavy-duty trucks and railways for logistics.
Thus, the demand for lightweight vehicle components to integrate into light commercial vehicles is expected to rise significantly during the forecast period.
With the regulations mandating the LCVs to stay within the stipulated weight limit, it has become critical for the OEMs to focus on making LCVs with lighter materials.
Additionally, the rapidly growing e-commerce in Europe represents a central pillar for the Digital Single market and reflects the advancements in the e-tailing sector (which is witnessing the expansion of well-organized retail spaces).
As the e-commerce industry continues to witness growth across Europe, the demand for a more advanced distribution network is increasing.
As the market continues to expand, the demand for pick-up vans, small trucks, and other LCVs is also likely to increase, as freight transportation (between 50 km and 1,999 km) accounted for 89.1% of the total freight transportation in 2017.
Apart from Europe, the Asia-Pacific region is also experiencing a boom in the sales of commercial vehicles, owing to the growing e-commerce resulting in the growth of the logistics, construction, and mining industries.
Thus, based on the aforementioned developments, the demand for glow plugs is expected to increase in the future.
Competitive Landscape
The Spark plugs and Glow plugs market is dominated by several players such as General Motors (AC Delco Corporation), DENSO Corporation, , NGK Spark Plug Co., Ltd, Robert Bosch GmbH, Tenneco Inc., BorgWarner Inc., WEICHAI POWER CO., LTD., These Companies are expanding their business by new innovative auto parts, so that they can have edge over their competitors.
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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Hot Spark Plug
5.1.2 Cold Spark Plug
5.1.3 Metal Glow Plug
5.1.4 Ceramic Glow Plug
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Sales Channel
5.3.1 OEM
5.3.2 Aftermarket
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 General Motors
6.2.2 DENSO Corporation
6.2.3 NGK Spark Plug Co., Ltd
6.2.4 Robert Bosch GmbH
6.2.5 BorgWarner Inc.
6.2.6 Autolite (Fram Group LLC)
6.2.7 Federal-Mogul Powertrain
6.2.8 ACDelco Corporation
6.2.9 KLG Spark Plugs
6.2.10 Wellman glow plugs Co.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS