Automotive Engine Oil Coolant Market Synopsis and Highlights, Key Findings, Majo
Posted by Market Research Future on December 21st, 2020
Automotive engine oil coolant keeps the vehicles engines cool during long journeys. Controlling the engine temperatures and maintaining it to low helps to avoid the overheating of the engines. These coolants also help in protecting the inner surfaces of various metal components in the engine that are hugely exposed to friction, heat, rusting, and corrosion.
Over the past few years, the Automotive Engine Oil Coolant Market has been observing a significant growth; majorly due to the increasing production of automobiles. Auto manufacturers are developing new manufacturing technologies of oil coolants that can improve the engine efficiencies. Moreover, factors such as stringent environmental regulations against vehicular emissions are escalating the market on the global platform.
According to Market Research Future (MRFR), the global Automotive Engine Oil Coolant Market would grow significantly by 2023, posting over 11% CAGR throughout the forecast period (2017 – 2023). Low carbon emission, improved fuel efficiency, and a smooth hassle-free ride are the other factors that drive the Automotive Engine Oil Coolant Market.
Additionally, factors such as the increasing Market of the passenger as well as commercial vehicles and the improving economic conditions that are enhancing the purchasing power of consumers, are bolstering the growth of the market.
On the flipside, fluctuating prices and the demand-supply gap in raw materials required for the production of engine oil coolants are some of the factors that are impeding the growth of the market. Nevertheless, ecological concerns and rising carbon footprints, worldwide are expected to support the growth of the market, attracting many investors to the market.
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Automotive Engine Oil Coolant Market - Segmentation
The report segments the market into six key dynamics to widen the scope of understanding,
By Type : Synthetic, Organic, and Hybrid.
By Cooling Mechanism : Air-cooled and Liquid-cooled.
By Function : Engine Cooling and Corrosion Prevention.
By End-market : OEM, Aftermarket
By Vehicle Type : Passenger, LCV, HCV
By Regions : Asia Pacific,North America, Europe, and the Rest-of-the-World.
Automotive Engine Oil Coolant Market - Regional Analysis
North America would remain the largest region in the global Automotive Engine Oil Coolant Market. The presence of a large number of vehicles in the region, alongside, the well-spread awareness towards the benefits that engine oil coolants offer, drives the growth of the regional market. In North America, especially in the US and Canada, there is a considerable inclination towards owning large SUVs and sedans, which, in turn, creates high market demand.
The Automotive Engine Oil Coolant Market in the Asia Pacific region is witnessing a massive rise due to the increasing Market in bigger and powerful vehicles. Increase in demand for electric cars alongside, the overall increase in the Market of cars in the rapidly developing countries such as Japan, India, and China aresome of the major driving forces behind the growth of the regional market. Also, due to its geospatial topology, the APAC region generally has hot climatic conditions; as a result, the engine oil coolant in these markets is very high.
The European Automotive Engine Oil Coolant Market has emerged as a promising market, globally. The region is home to a few of the trendiest and the most influential automakers in the world which produce high torque making it imperative for kicking in a system like an engine oil coolant for optimum vehicle performance.
Automotive Engine Oil Coolant Market - Competitive Analysis
Highly competitive, the Automotive Engine Oil Coolant Market appears to be fragmented due to the presence of several large and small-scale players. Strategic initiatives such as acquisition, collaboration, expansion, and product & technology are adopted by matured players to gain a competitive advantage in this market. Players are expected to bring innovations to the market relentlessly, increasingly focusing on geographical expansion and new product development.
Players leading the global Automotive Engine Oil Coolant Market include Dana Incorporated (US), MAHLE GmbH (Germany), Castrol (UK), Titanx Engine Cooling, Inc. (US), Fluidyne Control Systems (P) Ltd (India), Setrab (US), PWR Holdings (Australia), Blue Star Lubrication Technology LLC (US), Amsoil Inc. (US), Valvoline (US), Chevron Corporation (US), and Royal Dutch Shell (UK), among others.
Industry/ Innovation/ Related News
April 04, 2019 --- Castrol (the UK), a leading global lubricant manufacturer, announced the expansion of its reach, forming two new distributor relationships in the Northeast Region. These two companies are global providers of fuel, lubricants, and chemicals, Pilot Thomas Logistics LLC. (the US), and Northeast Lubricants, Ltd. (the US). According to the dealership deals, Pilot Thomas Logistics and Northeast Lubricants would provide Castrol's customers with access to a range of high-quality Castrol automotive products. Further helping them to join a network of national distributors focused on providing unparalleled support for customers.
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Joined: March 2nd, 2020
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