The automotive glow plug is a device fitted into each cylinder block of a diesel engine, with a heating system element to heat arriving fuel and air to make sure efficient combustion when the engine is cold. Stringent government regulations related to emissions and fuel efficiency are also key factors in the growth of spark plugs and glow plugs. The Government of India implemented BS-VI norms for automobiles to be sold after April 1, 2020. Glow plug manufacturers are launching the latest products to meet regulatory requirements to stay ahead of their peers and gain market share. For instance, in February 2020, NGK Spark Plugs India Private Limited launched a new range of BS-6 Ready and BS-6 compliant glow plugs for diesel vehicles in the country. The company is a leading supplier of spark plugs, glow plugs, and oxygen sensors to leading 2-wheeler and 4-wheeler OEMs in India. But, the increasing adoption of engine downsizing and transition to electric vehicles is expected to hinder the automotive glow plug market at a worldwide level. In addition, maintaining a balance between the low cost, high performance and durability of glow plugs is one of the common challenges that market participants need to deal with. Manufacturers are working with suppliers to reduce production costs. The market players are introducing new technologies in these plugs to attract consumers and stay at the forefront of the competition.
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COVID-19 Impact analysis –
The COVID-19, has hit the automotive glow plug market more quickly and severely. It started as a domestic supply crisis in China, thereby rapidly turning into the biggest ever drop in global aftermarket demand. As the governments all over the world have declared lockdowns over the past few months, the demand and supply cycle of many automotive glow plug manufacturers is vulnerable. Majority of automotive glow plug manufacturers are facing major issues such as closure of factories and unavailability of workforce due to the lockdowns which further affects the production of cars as well. Pandemic halted vehicle production and sales activities in the majority of the countries. However, the demand for commercial vehicles is likely to resume its growth post FY21.
Top Impacting Factor –
Long-term business contracts of glow plug manufacturers with suppliers, rise in commercial vehicle fleet, and upcoming stringent emission norms are driving the growth of the market.
Increasing electric vehicle development, market penetration and government support for electric vehicle penetration is expected to hamper the growth of the market.
Increasing replacement interval for glow plugs, rising demand for high fuel efficiency, and rise in aftermarket sale can be seen as an opportunity for the market investments.
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Automotive Glow Plug Market Report Highlights –
By Region –
North America (U.S., Canada, Mexico)Europe (UK, Germany, France, Russia, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa, Rest of LAMEA)
Key Market Players –
Bosch, Magneti Marelli, Denso, Borgwarner, Delphi, NGK, FRAM Group, Hyundai Mobis, Tenneco(Federal-Mogul), Valeo.
Key benefits of the report:
This study presents the analytical depiction of the automotive glow plug market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive glow plug market.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the automotive glow plug market growth scenario.
The report provides a detailed automotive glow plug market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the automotive glow plug market research report:
Which are the leading market players active in the automotive glow plug market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the automotive glow plug market?
What are the projections for the future that would help in taking further strategic steps?
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