Growing Vehicle Sales to Boost the Spark Plug & Glow Plug Market
Growing vehicle
fleet, increasing sales of vehicles and favourable government policies in Saudi
Arabia, to drive the Saudi Arabia Spark Plug & Glow Plug Market through 2023
According to TechSci Research report, “Saudi Arabia Automotive Spark-Plug and
Glow-Plug Market by Vehicle Type (Passenger Car,
Two-Wheeler, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle),
By Spark-Plug Type (Copper, Platinum & Iridium), By Glow-Plug Type (metal
and ceramic glow plugs) By Demand Category (OEM Vs. Replacement) Forecast &
Opportunities, 2023’’, Spark-Plug is a
device intended to fit in each cylinder of a gasoline-powered
internal-combustion engine to produce the electric spark for ignition while
glow plug is fitted into each cylinder of a diesel engine to heat incoming fuel
and to ensure efficient combustion when the engine is cold. Saudi Arabia
government is focusing on economic diversification to reduce the country’s
dependence on oil sector. The country aims at increasing the contribution of
non-oil exports in its non-oil GDP from 16% in 2015 to 50% by 2030.
Consequently, the government is announcing various initiatives directed towards
development of non-oil sectors in the country. This is expected to positively
impact the country’s automotive market which will increase the demand of
spark-plug and glow-plug market in the forecast period.
Moreover,
the growing two-wheeler and three-wheeler sales coupled with increasing
automobile fleet will is likely to have a positive impact on the Spark Plug as
well as Glow Plug Market due to the growing demand of replacement of spark
plugs. Moreover, the growing engine capacities will have a positive impact on the
growth of the Saudi Arabia Spark Plug & Glow Plug market during forecast
period. Additionally, the anticipated arrival of major automotive OEMs in the
region is expected to drive the growth of the market during forecast period.
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On the basis of spark plug type, the copper
segment leads the Saudi Arabia Spark Plug & Glow Plug market
whereas the iridium & platinum segmented are expected to dominate market by
2023, owing to its extended lifespan.
Denso Auto Parts, Robert Bosch GmbH, Autolite, ACDelco
Corporation, Borgwarner Inc, etc, are major companies operating in Spark Plug & Glow Plug in Saudi Arabia.
The Western Region leads the Spark Plug &
Glow Plug market in 2017 owing to the growing vehicle sales and increasing
automotive fleet. Moreover, the anticipatory arrival of automotive OEMs in the
region will ensure robust growth during the forecast period.
“The
increasing automotive sales in Saudi Arabia are likely to have a positive
impact on the growth of Spark Plug & Glow Plug Market as the increasing
automotive fleet will also increase the demand of replacement of automotive
plugs in the coming years. Moreover, the rising demand for Iridium Spark Plugs
due to its extended lifespan is expected to boost Spark
Plug & Glow Plug market through 2023.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based Saudi Arabia management
consulting firm.
“Saudi
Arabia Automotive
Spark-Plug and Glow-Plug Market by Vehicle Type (Passenger Car,
Two-Wheeler, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle),
By Spark-Plug Type (Copper, Platinum & Iridium), By Glow-Plug Type (metal
and ceramic glow plugs) By Demand Category (OEM Vs. Replacement) Forecast &
Opportunities, 2023”
has evaluated the future growth potential of Saudi Arabia Spark Plug & Glow
Plug market and provides statistics and information on market size, structure
and future market growth. The report offers decision makers superior market
intelligence, thereby enabling them conduct thorough investment appraisal.
Besides, the report also analyzes
the evolving market inclinations along with indispensable drivers, challenges
and opportunities in Saudi Arabia Spark Plug & Glow Plug Market.
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