Verizon News|Automotive Aftermarket For Spark Plugs to Show Inferior Growth Due to the Increase in the COVID-19 Spread | Technavio
LONDON--Technavio has been monitoring the automotive aftermarket for spark plugs and it is poised to grow by USD 115.00 million during 2021-2025, progressing at a CAGR of almost 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive aftermarket for spark plugs. The market growth in 2021 is likely to increase compared to market growth in 2019.
Frequently Asked Questions:
- Based on segmentation by the application, which is the leading segment in the market?
The passenger cars are the leading segment in the market.
- What are the major trends in the market?
The development of better-designed spark plugs for GDI engines is the major trend in the market.
- At what rate is the market projected to grow?
The market is projected to accelerate at a CAGR of almost 2%.
- Who are the top players in the market?
Delphi Technologies Plc, DENSO Corp., Fram Group, General Motors Co., HELLA GmbH & Co. KGaA, Magneti Marelli After Market Parts and Services Spa, NGK SPARK PLUG Co. Ltd., Robert Bosch GmbH, Valeo SA, WeiChai Holding Group Co. Ltd. are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by the increase in parc vehicles. However, the development of super-efficient engines without spark plugs will challenge growth.
- How big is the APAC market?
78% of the market’s growth will originate from APAC during the forecast period.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Delphi Technologies Plc, DENSO Corp., Fram Group, General Motors Co., HELLA GmbH & Co. KGaA, Magneti Marelli After Market Parts and Services Spa, NGK SPARK PLUG Co. Ltd., Robert Bosch GmbH, Valeo SA, and WeiChai Holding Group Co. Ltd. are some of the major market participants. Although the increase in the parc vehicles will offer immense growth opportunities, the development of super-efficient engines without spark plugs is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this automotive aftermarket for spark plugs forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Automotive Aftermarket for Spark Plugs 2021-2025: Segmentation
The automotive aftermarket for spark plugs is segmented as below:
- Passenger Cars
- Commercial Vehicles
- North America
- South America
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Automotive Aftermarket for Spark Plugs 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive aftermarket for spark plugs report covers the following areas:
- Automotive Aftermarket for Spark Plugs Size
- Automotive Aftermarket for Spark Plugs Trends
- Automotive Aftermarket for Spark Plugs Industry Analysis
This study identifies the development of better-designed spark plugs for GDI engines as one of the prime reasons driving the automotive aftermarket for spark plugs growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automotive Aftermarket for Spark Plugs 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist automotive aftermarket for spark plugs growth during the next five years
- Estimation of the automotive aftermarket for spark plugs size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive aftermarket for spark plugs
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive aftermarket for spark plugs vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five force summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Passenger cars - Market size and forecast 2020-2025
- Commercial vehicles - Market size and forecast 2020-2025
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Delphi Technologies Plc
- DENSO Corp.
- Fram Group
- General Motors Co.
- HELLA GmbH & Co. KGaA
- Magneti Marelli After Market Parts and Services Spa
- NGK SPARK PLUG Co. Ltd.
- Robert Bosch GmbH
- Valeo SA
- WeiChai Holding Group Co. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.