July 08, 2022
According to the research report titled ‘Global Spark Plug Accessories Market Size study, by Product (Spark Plug Boot, Spark Plug Wire, Spark Plug Cap), by Vehicle (Automotive Spark Plug Accessories, Passenger Cars, Compact Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Two Wheelers Spark Plug Accessories, Motorcycles, Scooters) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global spark plug accessories market is anticipated to showcase decent growth during 2022-2028.
Report findings suggest that rising sales of passenger cars and light & commercial vehicles is the major growth stimulant for global spark plug accessories market.
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For the unversed, spark plugs are employed in gasoline-powered vehicles to ignite the mixture of fuel and air in the combustion chamber.
Increasing investments in the automotive sector, and rising R&D efforts are expected to bolster the market outlook in the coming years. However, shifting consumer focus toward green mobility solutions, and widespread acceptance of electric vehicles may pose as threat for the marketplace during the stipulated timeframe.
Based on product terrain, the market is divided into spark plug cap, spark plug wire, and spark plug boot. In terms of vehicle, the industry is branched into scooters, motorcycles, two wheelers spark plug accessories, heavy commercial vehicles, light commercial vehicles, compact cars, passenger cars, and automotive spark plug accessories.
Regionally, Asia Pacific spark plug accessories market accounts for a notable revenue share at present and is slated to grow at a modest CAGR over the analysis timeframe, due to the growing use of cars, two-wheelers, and commercial vehicles, as well as increasing population, and high disposable income of individuals in the region.
Whereas North America industry is poised to grow decently over the forecast duration, owing to strict government regulations, expanding automobile sector spending, rising technical innovation, and soaring R&D activities in the region.
Coming to competitive landscape, ACDelco, Federal-Mogul Motorparts LLC, Holley Performance Products Inc., Taylor Cable Products Inc., PerTronix Inc., NGK Spark Plug Co. Ltd., Tenneco, General Motors Company, and Lectric Ltd. are the leading players in worldwide spark plug accessories market.