According to the latest report of IMARC Group entitled "Spark Plug Market: Global Industry Trends, Share, Scale, Growth, Opportunities and Forecasts 2021-2026", the global spark plug market will show XX growth from 2015 to 2020. Spark plugs represent electrical devices used to generate sparks to ignite the compressed fuel-air mixture present in the cylinder bores of the engine. It consists of a metal threaded shell, ribs, hexagons, insulators, resistors, etc. When a high-voltage current flows through the center electrode of the device, the gas in the electrode gap is ionized to produce sparks. Some common variants of these devices include hot spark plugs and cold spark plugs with platinum, dual platinum, copper and iridium electrodes. These spark plugs are widely used in multiple industries, including automobiles, ships, aerospace, and more.
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The global expansion of the automotive industry, coupled with the increasing use of spark plugs in electrical, marine and aerospace applications, has mainly promoted the development of the spark plug market. In addition, their increasing use in gasoline-based passenger cars, gasoline and natural gas powered generators, motor boats, etc. has also promoted product demand. In addition, cold variants based on platinum and iridium are becoming more and more popular in high-performance engines to minimize carbon emissions. In addition, the development of plasma cores and advanced corona ignition system (ACIS) variants helps reduce diesel engine vibration, noise, smoke emissions, etc., thereby providing better driving performance in severe weather conditions. In addition, the continued adoption of micro-engines is expected to further promote the market growth of spark plugs during the forecast period. Looking ahead, IMARC Group predicts that the market will grow at a compound annual growth rate of XX% from 2021 to 2026.
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