Glow Plugs Market shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Glow plug (or glowplug) is a warming gadget used to help to turn over diesel motors. In a chilly climate, fast diesel motors can be hard to begin because the mass of the chamber square and chamber head ingest the warmth of pressure, forestalling start. When jolted, warms because of electrical obstruction and starts to discharge light in the visible spectrum. The enhanced visualization is like the warming component in a toaster. The fuel injector splash design at that point encroaches straightforwardly upon the hot tip of the sparkle plug during the infusion of fuel at the top dead center.
Glow Plugs Market Growth and Trends
Not only are cars getting popular, so are yachts and small boats for leisure and entertainment, expanding the glow plugs market even further. The demand for commercial vehicles is increasing too. The rising e commerce industry and extensive need for logistics has made the glow plugs market very attractive. The automotive industry is roaring and the revenue that comes from it largely goes into further innovative products. The need for personal vehicles has itself multiplied by many folds. The requirement for leading a comfortable life and a readily expendable income has made the automotive industry very lucrative and vehicles are being sold like hot cakes.
Glow Plugs Market Regional Analysis
Being a centric part of gasoline and diesel ignition system, rising demand for glow plugs are anticipated to accentuate on flourishing global market. The Asia Pacific region is expected to cover a major share in the market with fledgling demand for commercial vehicles and the logistics industry in the region. Europe is estimated to hold the next major share in the market with an increasing preference for pickup trucks and small vans and railway logistics. The Middle Eastern and African regions are expected to catapult the market growth with the growing demand for light-weight vehicle components to invest in the light commercial vehicle market in the region. The North American market is projected to grow at an advancing pace in the glow plugs market owing to stringent regulations mandating the light commercial vehicles to stay within the stipulated weight limit.Rapid technology developments in the glow plug market such as the incorporation of pressure sensor plugs have aided the market growth. Such products aid in providing a hassle free pressure detection system in the combustion chamber making new innovations easily acceptable thereby, helping the market achieve a significant growth and provide steady revenue.
Asia Pacific leads the revenue generation for glow plugs market owing to the raging high in automobile industry and an increase in the number of vehicles. China dominates the market for this region. As per North American region, the widespread use of gasoline based vehicles fuels the need for glow plugs market.
With the electric vehicle sector gaining extensive traction, the glow plugs market is expected to be affected quite a lot. There is a lot of noise around the elevated pollution levels because of fuel based vehicles making the shift rather quickly and strictly. The government back up support for a shift towards electric vehicles is further projected to restrict the growth. In addition, having a product, which is cost effective, ensures durability and is performance oriented is a major challenge for the industrial leaders.
Glow Plugs Market Share and Competition
Key companies operating in this industry are: Robert Bosch, Tenneco(Federal-Mogul), Denso, Borgwarner, Weichai Power, Valeo, ACDelco, NGK, Hyundai Mobis, Champion Auto Parts, Wellman and Autolite.
Glow Plugs Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2020 - 2027)
• Metal Glow Plugs
• Ceramic Glow Plugs
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Glow Plugs Market Companies
• Robert Bosch
• Weichai Power
• Hyundai Mobis
• Champion Auto Parts
United States Glow Plugs Market Research Report
Europe Glow Plugs Market Research Report
Asia Pacific Glow Plugs Market Research Report
India Glow Plugs Market Research Report