Global Automotive Glow Plug Market Analysis Based on product type (Metal Glow Plugs and Ceramic Glow Plugs), Based on vehicle type (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), Based on sales channel, (OEMs (Original Equipment Manufacturers) and Aftermarket) & forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 267
- CATEGORY
- Automotive & Transportation
The global automotive glow plug market size was valued at around USD 2.9 billion in 2022 and expected to grow at a CAGR of 4.5% during the forecast period.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 2.9 Billion |
Market Forecast in 2032 | USD 3.6 Billion |
CAGR % 2023-2031 | 4.5% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2031 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | By Product type, By vehicle type, By Sales Channel |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | NGK Spark Plug Co., Ltd., Robert Bosch GmbH, Denso Corporation, Federal-Mogul LLC, BorgWarner Inc., ACDelco, Valeo, Delphi Technologies, Magneti Marelli S.p.A., Wells Vehicle Electronics |
Covid-19 Impact:
The global automotive industry, including the automotive glow plug market, has been significantly impacted by the COVID-19 pandemic. The pandemic has resulted in disruptions in the supply chain, workforce shortages, and reduced demand for new vehicles, among other challenges.
During the initial stages of the pandemic, many automotive production facilities were temporarily shut down due to government-mandated lockdowns and restrictions. This resulted in a significant decline in the production of vehicles, including diesel-powered vehicles that require automotive glow plugs.
The supply chain for automotive glow plugs was also affected by the pandemic, as many manufacturers of glow plugs faced difficulties in obtaining raw materials, components, and equipment due to disruptions in the supply chain.
Furthermore, the pandemic has led to reduced demand for new vehicles, as consumers have become more cautious with their spending and may delay purchases due to economic uncertainties. This has resulted in a decline in the demand for automotive glow plugs, as fewer diesel-powered vehicles are being sold.
Overall, the COVID-19 pandemic has had a significant impact on the global automotive glow plug market, with disruptions in the supply chain and reduced demand for new vehicles leading to a decline in sales and production. However, with the global vaccination drive gaining momentum and the easing of lockdown restrictions in many countries, the automotive industry is expected to gradually recover in the coming years.
Market Dynamics:
Drivers:
Growing demand for diesel engines: The increasing demand for diesel engines in the automotive industry is driving the demand for glow plugs. Glow plugs are essential for starting diesel engines in cold temperatures, and as diesel engine sales continue to grow globally, the demand for glow plugs is expected to increase.
Stringent emissions regulations: Stringent emissions regulations around the world are driving the adoption of technologies that improve fuel efficiency and reduce emissions. Glow plugs help to improve fuel efficiency and reduce emissions by ensuring that the engine starts quickly and efficiently, reducing the amount of unburned fuel.
Increasing demand for passenger and commercial vehicles: The growing demand for both passenger and commercial vehicles is driving the demand for automotive glow plugs. Glow plugs are essential components of diesel engines used in both passenger and commercial vehicles.
Growing demand for electric vehicles: While electric vehicles are not equipped with glow plugs, the growing demand for electric vehicles is driving innovation in the automotive industry. This innovation is likely to have a positive impact on the overall automotive industry, including the glow plug market.
Technological advancements: Technological advancements in the design and functionality of glow plugs are driving the growth of the market. Manufacturers are developing advanced glow plugs that offer better performance, durability, and reliability, which is expected to drive the demand for these products.
Restraints:
Technological advancements: The automotive industry is constantly evolving with the introduction of new and advanced technologies such as gasoline direct injection (GDI) engines and ceramic glow plugs. These new technologies are expected to replace traditional glow plugs in the future, which can hinder the growth of the global automotive glow plug market.
High replacement cost: Glow plugs are a critical component of the diesel engine system and require regular maintenance and replacement. However, the high replacement cost of glow plugs can deter vehicle owners from replacing them, which can affect the demand for automotive glow plugs.
Regional Analysis:
North America: The North American automotive glow plug market is expected to witness significant growth due to the increasing adoption of advanced diesel engines in the region, particularly in heavy-duty vehicles. Additionally, the presence of major automotive manufacturers and the growing demand for commercial vehicles in the region are driving the growth of the market.
Europe: The European automotive glow plug market is anticipated to grow owing to the increasing demand for diesel engines in the region, particularly in the heavy-duty vehicle segment. The presence of leading automotive manufacturers in the region and the growing adoption of advanced technologies in diesel engines are also expected to drive the growth of the market.
Asia Pacific: The Asia Pacific region is expected to witness substantial growth in the automotive glow plug market due to the increasing demand for commercial vehicles and the growing adoption of diesel engines in the region. The expanding automotive manufacturing industry and the presence of several leading automotive manufacturers in the region are also driving the growth of the market.
Latin America: The Latin American automotive glow plug market is expected to witness moderate growth due to the increasing demand for commercial vehicles in the region. The presence of key automotive manufacturers in the region and the growing adoption of diesel engines are also expected to drive the growth of the market.
Middle East and Africa: The Middle East and Africa automotive glow plug market is anticipated to witness moderate growth due to the increasing demand for diesel engines in the region, particularly in heavy-duty vehicles. The expanding automotive industry in the region and the presence of several leading automotive manufacturers are also driving the growth of the market.
Market Segmentation:
Based on product type, the market can be segmented into metal glow plugs and ceramic glow plugs.
Based on vehicle type, the market can be segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
Based on sales channel, the market can be segmented into OEMs (original equipment manufacturers) and aftermarket.
Geographically, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Competitive Landscape:
The global automotive glow plug market is highly competitive with the presence of several global and regional players.
NGK Spark Plug Co., Ltd.
Robert Bosch GmbH
Denso Corporation
Federal-Mogul LLC
BorgWarner Inc.
ACDelco
Valeo
Magneti Marelli S.p.A.
Wells Vehicle Electronics
These players are focusing on product innovation, expanding their product portfolio, and strategic collaborations and partnerships to strengthen their position in the market. Additionally, they are also investing in research and development to improve the efficiency and performance of automotive glow plugs.
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
• Company Share Analysis from 2018-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
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Business Solution
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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