The automotive engine oil coolant industry
will develop at an 11% CAGR between 2017- 2023, according to the new Market Research Future (MRFR) analysis. An automotive engine coolant has three essential functions- maintain a minimum level temperature of the engine and stop freezing when the car is unused for long, prevent corrosion of metal machinery, and cool engine parts to prevent overheating when the car is in use.
Various factors are propelling the global automotive engine oil coolant sales. As per the MRFR report such factors include the rapid rise in the sales of cars especially in developing countries, developed infrastructure, burgeoning demand for heavy-duty and passenger cars, rise in conventional fuel price, increase in the lifespan of cars in operation, growing adoption of bio-based lubricants to reduce harmful environmental impact, and need for fuel-efficiency.
On the flip side, the current COVID-19 pandemic may limit the global automotive engine oil coolant market growth during the forecast period.
Key contenders profiled in the global automotive lubricant and coolant market report include Chevron Corporation (U.S.), Royal Dutch Shell (U.K.), Valvoline (U.S.), Blue Star Lubrication Technology LLC (U.S.), Amsoil Inc. (U.S.), Setrab (U.S.), PWR Holdings (Australia), Titanx Engine Cooling, Inc. (U.S.), Fluidyne Control Systems (P) Ltd (India), Castrol (U.K.), Dana Incorporated (U.S.), and MAHLE GmbH (Germany).
The Market Research Future Report highlights an inclusive segmental analysis of the global automotive engine oil coolant market based on type, cooling mechanism, function, end market, and vehicle type.
By type, the global automotive engine oil coolant market is segmented into hybrid engine oil coolant, organic engine oil coolant, and synthetic engine oil coolant. Of these, synthetic engine oil coolant will stay at the forefront in the market over the forecast period.
By cooling mechanism, the global automotive engine oil coolant market is segmented into liquid cooled, water cooled, and air cooled. Of these, the liquid cooled segment will lead the market over the forecast period.
By function, the global automotive engine oil coolant market is segmented into engine corrosion prevention and engine cooling.
By end market, the global automotive engine oil coolant market is segmented into aftermarket and OEM (original equipment manufacturers). Of these, the aftermarket segment will dominate the market over the forecast period.
Forecast by vehicle type, the global automotive engine oil coolant market is segmented into commercial car and passenger car. Of these, the passenger cars will spearhead the market over the forecast period.
By region, the global automotive engine oil coolant market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), the Rest of the World (RoW). Among these, North America will lead the market over the forecast period. Preference for large road plying trucks which travel from coast to coast to transport all forms of materials and goods, preference for large personalized cars like SUVs and mini trucks, largest vehicle production in the US, do it yourself culture, booming automotive aftermarket, and a huge number of cars and their vibrant country/intercity road connectivity are adding to the global automotive engine oil coolant market growth in this region. The United States has the utmost share in the market.
In the APAC region, the global automotive engine oil coolant market is predicted to have sound growth over the forecast period. The rising problem of engine heating, rising number of cars, upcoming government regulations, the rising average lifespan of cars, demand for goods carriers from SMEs and micro-enterprises, rising mobility owing to the development of satellite townships near megacities, growing inspiration to own private cars, developing surface transportation infrastructure, rising disposable income, and growing middle-class population are adding to the global automotive engine oil coolant market growth in the region, car engine coolant oil
. China holds the utmost share in the market.
In Europe, the global automotive engine oil coolant market is predicted to have healthy growth over the forecast period. Manufacturers shifting focus to hybrid engine coolants from conventional engine coolants, production of high-end automobiles, and consistent sales of cars are adding to the global automotive engine oil coolant market growth in the region.
In the Rest of the World, the global automotive engine oil coolant market is predicted to have steady growth over the forecast period.
Table Of Content
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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