GITNUX MARKETDATA REPORT 2024

Spark Plug Industry Statistics

The Spark Plug Industry is expected to grow steadily over the forecast period due to increasing vehicle production and demand for efficient fuel consumption.

Statistic 1

"The global spark plug market size was valued at $2.5 billion in 2019."

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Statistic 2

"The spark plug market is projected to grow at a CAGR of 5.4% from 2020 to 2027."

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Statistic 3

"Asia-Pacific dominated the market, contributing to more than half of the total market share in 2019."

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Statistic 4

"By product type, the hot spark plug segment represented more than half of the total market in 2019."

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Statistic 5

"The automotive spark plug market is forecast to reach $3.4 billion by 2025."

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Statistic 6

"The increase in vehicle production and the growth in the number of passenger cars are driving the demand for spark plugs."

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Statistic 7

"The iridium spark plug segment is projected to grow at the highest CAGR during the forecast period."

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Statistic 8

"Online retail is expected to be the fastest growing sales channel for spark plugs, with a CAGR of 18.2% from 2020 to 2027."

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Statistic 9

"In Europe, the spark plug market is expected to reach a volume of 763.2 million units by 2027."

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Statistic 10

"The cold spark plug product segment is expected to register the fastest CAGR of 5.0% from 2020 to 2027."

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Statistic 11

"The platinum spark plugs accounted for a market share of 25% in 2019."

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Statistic 12

"The global spark plugs market was valued at USD 802 million in 2018."

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Statistic 13

"The demand for iridium spark plugs in North America is likely to witness a CAGR of 3.74% during 2021-2026."

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Statistic 14

"In China, more than 28 million vehicles were produced in 2019 which leads to a high demand for spark plugs."

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Statistic 15

"By 2026, the value of the spark plug market is expected to reach $3.36 billion."

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Statistic 16

"Motorcycle spark plug market is projected to exhibit a CAGR of around 6% during 2021-2026."

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Statistic 17

"Spark plugs market in India forecasted to cross $15.6 million by 2025."

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Statistic 18

"The OEM segment dominated the India spark plugs market in value terms, accounting for around 68% share in 2019."

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