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     485  0 Kommentare Spark Plug Market to Reach $2,904 Million by 2022, Globally - Allied Market Research

    PORTLAND, Oregon and PUNE, India, January 23, 2017 /PRNewswire/ --

    A new report published by Allied Market Research, titled, "Spark Plug Market by Electrode Material and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022", projects that the global spark plug market is estimated to reach $2,904 million by 2022. Automobile segment is expected to maintain its dominant position throughout the forecast period. Asia-Pacific accounted for the highest share of 46% in 2015, and is anticipated to maintain its dominance throughout the forecast period.

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    Summary of the Spark Plug Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/spark-plug-market

    Spark plug is an engine component, located at the top of cylinder, which delivers electric current during the combustion process to produce spark. Increase in production of gasoline and natural gas-based vehicle mostly two-wheeler and passenger cars drive the market growth. However, technical advancements to downsize automotive engines and growth in penetration of electric vehicle & electrically powered working equipment, such as mowers and saws, hinder the growth of the spark plug market. Irrespective of these challenges, increase in demand for natural gas-based vehicle and technological advancements, such as new electrode material, are expected to create numerous opportunity for the market players, thus fueling the market growth.

    Electrode material segment is divided into copper, iridium, and platinum. In 2015, iridium spark plug accounted for the largest revenue among others. This is attributed to its benefits such as long service life, approximately five times greater than copper spark plug, and high ignitability due to fine tipped center electrode. However, copper spark plug is anticipated to witness decreased growth trend. Moreover, platinum spark plug is anticipated to witness the highest growth rate of 4.8% CAGR among others.

    Spark plug finds its application across several verticals such as automobile, marine, industry, and others (working equipment, brush cutters, scythes, mowers, saws). In 2015, automobile segment accounted for the largest market share among others, and is anticipated maintain its dominance due to increase in number of gasoline-based vehicle and rise in demand for natural gas vehicles. However, industrial segment is expected to witness the highest growth rate of 7.2% CAGR among others due to growth in urbanization and industrialization in developing countries, which further boosts the demand for petrol or natural gas generator.

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    Spark Plug Market to Reach $2,904 Million by 2022, Globally - Allied Market Research PORTLAND, Oregon and PUNE, India, January 23, 2017 /PRNewswire/ - A new report published by Allied Market Research, titled, "Spark Plug Market by Electrode Material and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022", …