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
Advancement in automation and cost reductions in spark plugs pressing system has aided in growth of the market
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 meagre contact of the cable generate unrespects hurdles, has boosted their adoption to maintain performance of the vehicle engine and lifespan. Such 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 considerable traction in the automotive aftermarket.
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.
Table of Contents
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.