Transparency Market Research in its new report titled, “Automotive Coolant Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the automotive coolant market. The TMR report anticipates that the extensive usage of vehicles and the consumption of automotive coolants depends on the distance travelled by the vehicle will drive the automotive coolant market during the forecast period i.e, 2018-2026. Rising production of vehicles is another major factor fueling the consumption of automotive coolants at significant pace. Rising adoption of electric vehicles is possible threat to the currently used coolant into different kind, as different coolants are employed in electric vehicles in order to manage the temperature of the powertrain of an electric vehicle, says the report.
The TMR report has segregated the global automotive coolant market in terms of coolant type, sales channel, vehicle, and region. In terms of coolant type, organic acid technology is expected to be a leading segment, owing to its high service life as compared to the other segments. The organic acid technology segment is anticipated to expand significantly during the forecast period. On the basis of sales channel, aftermarket segment is anticipated to be a leading segment owing to the replacement of coolant oil throughout the life of the vehicle. Automotive coolants are changed after several miles travelled by the vehicle, the distance travelled factor varies according to the type of coolant used in the vehicle.
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Based on vehicle, the passenger vehicle segment is expected to hold a major share of the market owing to the high number of on-road passenger vehicles as compared to commercial vehicles. However, the commercial vehicle segment holds a significant share of the market owing to continuous application of commercial vehicles coupled with the high consumption of coolants by commercial vehicles. In terms of region, Asia Pacific is anticipated to hold a major share of the global automotive coolant market, as the region witnesses a significantly high number of vehicles on road and is still a prominent producer among all regions.
Higher number of manufacturing facilities in Asia Pacific, due to availability of the basic resources such as labor and raw materials, has boosted the automotive industry in the region. Therefore, the region is likely to hold a leading share of the global automotive coolant market, followed by Europe. Europe is a significant market, after Asia Pacific, owing to the high production coupled with high application of vehicles in the region. Some of the major players operating in the global automotive coolant market are profiled in this report to give a better competitive analysis of the market and these include BlueStar Lubrication Technology, Exxon Mobil, Amsoil Inc., Castrol, Valvoline,Royal Dutch Shell, Chevron Corporation, and Total S.A.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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