PUBLISHER: The Business Research Company | PRODUCT CODE: 1455170
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455170
A glow plug in an automobile serves as a heating element utilized in diesel engines to preheat the air within the combustion chamber. This process ensures smoother cold starts by enhancing the efficiency of igniting the fuel-air mixture.
The primary types of automotive glow plugs exist, metal glow plugs and ceramic glow plugs. A metal glow plug is an electrically heated component employed in diesel engines to preheat the air in the combustion chamber. Its purpose is to facilitate cold starts and minimize emissions. These metal glow plugs find application in various vehicles, including passenger cars, light commercial vehicles, and heavy commercial vehicles. They are supplied by original equipment manufacturers (OEM) as well as the aftermarket.
The automotive glow plugs market research report is one of a series of new reports from The Business Research Company that provides automotive glow plugs market statistics, including automotive glow plugs industry global market size, regional shares, competitors with an automotive glow plugs market share, detailed automotive glow plugs market segments, market trends and opportunities, and any further data you may need to thrive in the automotive glow plugs industry. This automotive glow plugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive glow plug market size has grown strongly in recent years. It will grow from $3.77 billion in 2023 to $3.98 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The expansion observed during the historical period can be credited to factors such as the growth in vehicle sales, the imposition of rigorous emission standards, the prevalence of diesel engines, the demand in cold climate regions, and sales in the aftermarket.
The automotive glow plug market size is expected to see steady growth in the next few years. It will grow to $4.69 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The anticipated expansion in the forecast period can be linked to ongoing emission regulations, the increase in electric vehicles, global economic trends, urbanization, and the growth of commercial fleets, along with a focus on fuel efficiency. Key trends expected in the forecast period include a heightened emphasis on lightweight materials to enhance fuel efficiency, the growing popularity of cold-start systems in electric vehicles, the expansion of aftermarket sales channels, a focus on sustainable and eco-friendly automotive components, and collaborative efforts for research and development in glow plug technology.
The anticipated increase in vehicle production is expected to drive the growth of the automobile glow plug market in the future. Vehicle production involves the mass manufacturing of identical automobile models offered for public sale and legal use on public roads. Glow plugs serve as heating devices in diesel engines, assisting in cold weather engine starts by heating the incoming fuel and air to facilitate efficient fuel combustion. For example, data from the Board of Governors of the Federal Reserve System in August 2023 revealed a rise in car production in the United States to 11.87 million units in June 2023, up from 10.91 million units. Consequently, the upswing in vehicle production is poised to propel the automobile glow plug market.
The increasing emphasis on fuel efficiency is set to contribute to the growth of the automobile glow plug market. Fuel efficiency gauges how effectively a vehicle utilizes fuel to cover a specific distance, indicating the optimization of energy output while minimizing fuel consumption. Automobile glow plugs play a role in enhancing fuel efficiency by providing the initial heat boost necessary for efficient combustion, reducing the time spent in the less fuel-efficient rich fuel mixture phase. As per LendingTree's data in August 2023, the average fuel efficiency for all automobiles increased to 26.4 mpg in 2022, with car fuel economy reaching 33.3 mpg in the same year. This escalating demand for fuel efficiency acts as a driving force for the automobile glow plug market.
The major hindrance to the growth of the automotive glow plug market during the forecast period is the high cost of fuel. Elevated fuel costs directly impact the demand for diesel engines utilizing automotive glow plugs, as vehicle owners and fleet operators become more concerned about fuel efficiency. For instance, according to the Energy Information Administration in September 2023, the cost of diesel fuel was reported at $4.37 per gallon. This high fuel cost poses a significant obstacle to the growth of the automotive glow plug market.
Prominent players in the automobile glow plug market are actively innovating, introducing cutting-edge products such as Nova Glow Plug Turbo Offroad N.5 and Nova Glow Plug Turbo Offroad N.6 to enhance performance, durability, and safeguard engine reliability. These glow plugs are meticulously designed for optimal performance and consistency, conveniently packaged in sets of two plugs. For instance, in July 2022, Nova Engines, an Italy-based cooperative specializing in the production of competition micro engines, unveiled their latest glow plugs, including Nova Glow Plug Turbo Offroad N.5 and Nova Glow Plug Turbo Offroad N.6. Specifically tailored for off-road use, the Nova Glow Plug Turbo Offroad N.5 is crafted from controlled expansion materials, featuring a new filament resistant to pressure. Similarly, the Nova Glow Plug Turbo Offroad N.6, designed for off-road applications, boasts high-quality materials to ensure consistent performance. Both glow plugs guarantee an airtight seal, contributing to efficient fuel combustion in the engine. The utilization of these glow plugs proves beneficial in enhancing engine performance, particularly in cold weather conditions.
In July 2022, Niterra Co. Ltd., a Japan-based company specializing in the manufacturing of glow plugs, spark plugs, and NTK new ceramics, entered into a joint venture agreement with IMC International Metalworking Companies B.V. This collaboration holds the potential to enhance the automobile glow plug market by broadening Niterra's product range and increasing its market share. IMC International Metalworking Companies B.V., based in Israel, is a reputable manufacturer of metal cutting tools.
Major companies operating in the automotive glow plug market report are Automotive Ignition Market, Automotive Spark Plugs And Glow Plugs Market, Spark Plug And Glow Plug Market, Diesel Engine Market, Automotive Ignition Coil Market
Asia-Pacific was the largest region in the automotive glow plug market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive glow plug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automobile glow plug market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automobile glow plug market consists of sales of standard coil glow plugs, pencil glow plugs, fast start glow plugs, and ceramic glow plugs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Glow Plug Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive glow plug market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive glow plug ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive glow plug market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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