Pune, 9, Dec 2022: According to Maximize Market Research’s Automotive Glow Plug Market the market is expected to grow from USD 2.9 billion in 2021 to USD 4.03 billion in 2029, at a CAGR of 4.2 percent from 2022 to 2029. The global automotive glow plug market is being driven by an increase in demand for commercial vehicles and an increase in vehicle production internationally.
Automotive Glow Plug Market Scope and Research Methodology
The research report highly depends on both primary and secondary data sources. The research process involves the investigation of various factors affecting the industry, such as government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries, as well as market risks, opportunities, market barriers, and challenges. All conceivable elements influencing the markets included in this research study have been considered, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the impact of inflation, economic downturns, regulatory & policy changes, and other variables is factored into the market forecast. This data is combined and added with detailed inputs and analysis, and presented in the report
Automotive Glow Plug Market Overview
The glow plug is an important automotive component for diesel engines. The glow plug is an essential component of diesel engines. To start the engine, it ignites the air-fuel mixture in the combustion chamber. It consists of a heating coil filled with ceramic powder in a metal tube with one end closed. The cylinder head’s closed-end projects into the combustion chamber. When electrically energized, this part of the tube rapidly reaches temperatures in excess of 1000 degrees Celsius. The injector sprays the air-fuel combination towards the glow plug, which sparks the combustion.
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Automotive Glow Plug Market Dynamics
The global automotive market has grown significantly as a result of rising new and used vehicle sales and an increase in average vehicle age. The growing number of automobiles in use and operation, as well as the rising need for aftermarket automotive parts and components, are the primary drivers of the aftermarket glow plug market. The used vehicle market significantly contributes to aftermarket demand for parts and components, which is likely to drive the market throughout the forecast period, as dealers replace major elements that boost vehicle performance, particularly engine performance, before selling the automobiles.
Large manufacturers in the country are investing to strengthen their manufacturing skills. For example, in April 2021, FAW Jiefang Automotive Co. Ltd. (FAW Jiefang) began building of a commercial vehicle production facilitsy in the Sichuan Province city of Guanghan. The 552,000-square-meter structure is most likely a manufacturing factory, with the capacity to produce 100,000 commercial cars each year. The first phase of the project, which will cost CNY 1.6 billion, will have a 50,000-unit annual capacity. The J6-series cars are planned to be constructed during the site’s initial operating phase.
Automotive Glow Plug Market Regional Insights
In 2021, Asia Pacific dominated the market with a 49% share. China is a prominent vehicle manufacturer in the globe. During the eight-year period from 2008 to 2019, China’s share of global car output increased from 13% in 2008 to 28% in 2019. During this period, China’s automotive sales increased dramatically, with the annual growth rate fluctuating and peaking at 45% in 2009. However, it has been contracting since 2018. The COVID-19 pandemic’s impact on the Chinese automobile market was reduced by economic stimulus, with a 1.9% drop in sales recorded in 2020.
Automotive Glow Plug Market Segmentation
By Vehicle Type:
- Passenger Car
- Commercial vehicles
By Seals Channel:
- OMEs
- Aftermarket
By Plug Type:
- Metal glow plugs
- Ceramic glow plug
Automotive Glow Plug Market Key Competitors:
- Bosch
- Borgwarner
- NGK
- Denso
- Federal-Mogul
- Hyundai Mobis
- Delphi
- Magneti Marelli
- Valeo
- FRAMÂGroupÂ
- Kyocera
- Hidria
- YURA TECH
- Acdelco
- Ningbo Tianyu
- Ningbo Glow Plug
- Ningbo Xingci
- Fuzhou Dreik
- Wenzhou Bolin.
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Key questions answered in the Automotive Glow Plug Market are:
- What is Automotive Glow Plug?
- What is the growth rate of Automotive Glow Plug Market for the next five years?
- What is the nature of competition in Automotive Glow Plug industry in developed economies and developing economies?
- Who are the key players in the Automotive Glow Plug Market?
- Who are the market leaders in Automotive Glow Plug in Europe
- Who are the market leaders in Automotive Glow Plug in USA and Canada
- Who are the market leaders in Automotive Glow Plug in India, China, Japan and South Korea?
- What are the factors affecting growth in the Automotive Glow Plug Market?
- Who held the largest market share in Automotive Glow Plug Market?
- What are the factors for the growth of Asia-Pacific region in Automotive Glow Plug Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Vehicle Type, plug Type, and seals type and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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