Press Release

India Automotive Spark Plug Market to Cross $ 375 Million by FY2023

Growing automotive industry, expanding petrol-based vehicle fleet size and favorable government initiatives to fuel India automotive spark plug market through FY2023

According to TechSci Research report, India Automotive Spark Plug Market By Product Type, By Vehicle Type, By Demand Category, Competition Forecast & Opportunities, FY2013 – FY2023”, the automotive spark plug market across the country is projected to reach $ 376 million by FY2023. Anticipated growth in the market can be attributed to strong domestic demand for automobiles, favorable government policies, planned capacity expansions by major automobile OEMs and expanding automobile fleet in the country. Moreover, rising sales of petrol cars owing to the government’s decision to deregulate diesel prices in order to curb pollution is anticipated to positively influence the automotive spark plug market in India during the forecast period. 

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As of FY2017, two-wheeler spark plug segment dominated India automotive spark plug market, on account of growing production and sales of two-wheelers in the country. Over the years, conventional copper-based spark plugs accounted for the largest market share; however, with increasing awareness about the extended lifespan of iridium and platinum-based spark plugs in comparison to copper-based spark plugs, demand for the former from OEM and replacement segments is anticipated to increase in the coming years. Bosch Limited, NGK Spark Plugs (India) Pvt. Ltd, Federal-Mogul Goetze (India) Limited and Denso India Limited are few of the leading players operating in India automotive spark plug market.

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“North India is the largest consumer of spark plugs, owing to the presence of huge vehicle fleet as well as several renowned OEMs such as Ford, BMW, Mitsubishi, Maruti Suzuki, TVS Motors, Hero MotoCorp, etc., operating in the region. Moreover, with increasing number of Micro Small & Medium Enterprises (MSMEs) in the region, demand for load carrier three-wheelers is growing, which in turn is driving demand for automotive spark plugs.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Automotive Spark Plug Market By Product Type, By Vehicle Type, By Demand Category, Competition Forecast & Opportunities, FY2013 – FY2023 has analyzed the potential of automotive spark plug market, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the market.

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