Spark Plug Wire Market Analysis
Spark Plug Wire Market, by Wire Type (Distributed Resistance Wires, MAG (Magnetic Resistance) Wires, Fixed Resistor Wires, and Others), and by Region - Size, Share, Trends, and Forecast to 2026
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Spark Plug Wires Market - Insights
Global spark plug wires market is expected to witness moderate growth during the forecast period. The market growth is majorly attributed to increasing demand for spark plugs and other ignition systems in various types of vehicles. Furthermore, high dependency of vehicle performance and mileage capabilities on smart plug wirings has increased their importance in the automotive industry. Spark plug wires are crucial parts of an automotive aftermarket, which is expected to witness considerable growth during the forecast period. This is owing to changing government regulations to support emission-free environment and improve efficiency of vehicles.
A high-quality spark plug wire can boost vehicle’s performance drastically, as these connector systems perform an important role of communication between engine ignition systems. A low quality spark plug wire is less capable of efficiently carrying electricity, which deteriorates engine’s performance and condition. This can lead to increase in maintenance costs and higher risks of engine breakdown. High-quality spark plug wires witnessed significant demand in the recent past, owing to their ability of avoiding possible issues such as engine failure.
Figure 1. Global Spark Plug Wires Market Share (%), by Region, 2017
Technological advancements in automation and cost-effective spark plug pressing system is driving market growth
Advancements in the design and cost reduction in the pressing of the spark plug wires through automation by maintaining defined standards to eliminate quality defects such as meager contact of the cable generate unexpected hurdles has increased their adoption to maintain performance of the vehicle engine and lifespan. Therefore, continuous improvements in the design, as well as methodologies such as automation to press spark plug wires in the engine, has led to growth of the spark plug wiring industry. Moreover, enhanced characteristics of high-quality spark plug wires such as wire length, use of heat-resistant materials such as silicone, EPDM rubber, etc. on outer insulation, rubber boots on end terminals, and use of high quality conductors (copper, compressed carbon powder, steel, etc.) has gained significant traction in the automotive market.
High maintenance cost in case of defective wiring hampers the adoption of spark plug wires
Changing a spark plug is a regular maintenance task for vehicle owners and requires higher-precision. Even after deployment of spark plugs, it is important to replace the spark plug wires to avoid possible impairment of engine performance and mileage capability of the vehicle. These regular replacements get more frequent in case of a faulty spark plug wiring, which adds up to the existing maintenance cost of the vehicles, and this is expected to be major factor for low adoption of these wires. Moreover, increasing demand and adoption of electric vehicles is expected to hamper adoption of spark plug wirings across the globe.
Applications of spark plug wires across various types of vehicles
Spark plugs are a crucial part of vehicle engine, which ignites the spark to start an engine. Spark plug wiring helps to conduct the electricity from one terminal to another to effectively carry out the aforementioned process. Growth in disposable income especially across emerging economies and growing aftermarket for automotive industry is driving growth of the spark plug wire market. For instance, according to the data provided by World Economic Forum, Indian household savings virtually tripled from 2005 till 2014, due to increased disposable income. Furthermore, according to Coherent Market Insights' analysis, the aftermarket for automotive is expected to exhibit a CAGR of 4.8% during the forecast period of 2018-2026, owing to growing demand for automotive components from emerging economies such as China, India, Vietnam, and others.
The use of innovative technologies such as Internet of Things (IoT) embedded to spark plug wires has helped to create a direct communication channel between user and producer. For instance, Moxa launched the IIOT (Industrial Internet of Things) Gateway Starter Kit in October 2017 that includes built-in support for Amazon Web Services (AWS) to allow faster deployments.
Furthermore, stringent standards and regulations regarding spark plugs are expected to boost sales of spark plug wires market during the forecast period. Example includes that of ISO 28741:2013, which is specific to properties and dimensions of the spark plugs including the terminals and the measurements of their cylinder head housings to be used in the spark-ignition engines. Because of high pressure, the spark plug has to endure, the insulator material is expected to possess high electrical resistance, sufficient mechanical strength, and good thermal conductivity.
Some of the key players operating in the global spark plug wire industry include Mitsubishi, Carquest, Denso, NKG, MSD Ignition, Beck/Arnley, ACDelco, Bosch, SeaStar Solutions, Taylor Cable, Motorcraft, and others.
The adoption of spark plug wires has increased, owing to its materials, design, and other factors that has improved capabilities such as enhanced mechanical strength and high electrical resistance of spark plug wires, which are also known as high tension cables. Increasing demand for spark plug wires, owing to significant boost in vehicle sales across the globe is expected to drive growth of global spark plug wire market. Moreover, direct dependency of mileage capacity and noise reduction of a vehicle on spark plug wiring has further enhanced its importance in the automotive industry.
The development of digital twin spark ignition system has boosted growth of spark plug wire market, owing to rising demand for spark plug cables. Moreover, stringent government norms and regulations regarding fuel efficiency and emissions from vehicles and increasing demand for vehicles across the globe are factors driving growth of spark plug wire market. In Canada, the Canadian Environmental Protection Act, 1999 (CEPA 1999) offers the legislative authority for regulating emissions from on-road vehicles and engines to maintain the clean surroundings. According to Coherent Market Insights' analysis, around 77 million units of passenger cars were sold in 2017 and the number is expected to increase to around 83 million units by 2018. However, constant maintenance requirements for spark plug wires is expected to hamper the market growth. Furthermore, defective wiring of spark plug can affect the engine performance, which in turn will affect the mileage capabilities of a vehicle. Therefore, high dependence of vehicle performance on spark plug wires is expected to offer lucrative growth opportunities for major players over the forecast period.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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