In 2023, the US imported spark plugs valued at approximately $813 million. The forecast for 2024 to 2028 shows a steady year-on-year growth in import value, with percentages increasing from 1.5% in 2024 to a similar trend into 2028. The five-year compound annual growth rate (CAGR) from 2024 to 2028 is projected to be around 1.8%, reflecting consistent demand within the market.
Trends to watch for in the future include:
- Technological advancements in spark plug efficiency and design.
- Increases in electric vehicle adoption impacting traditional spark plug demand.
- Global supply chain factors and their influence on import costs and volumes.
