Lucintel’s latest market report analyzed that spark plug provides attractive opportunities in the automobile, marine, and industrial applications. The spark plug market is expected to reach $4.1 billion by 2028 with a CAGR of 4.6%. In this market, iridium is the largest segment by electrode material, whereas automobile is largest by application.
Based on electrode material, the spark plug market is segmented into copper, iridium, and platinum. The iridium segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the increasing use of these iridium-based plugs in the maritime industry, which provides maximum power and combustion to improve engine performance.
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The Spark Plug Market is marked by the presence of several big and small players. Some of the prominent players offering spark plug include Ngk Spark Plug, Valeo, Denso, Robert Bosch, Autolite, and Enerpulse Technologies.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link firstname.lastname@example.org.
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