Automotive Engine Oil Coolant Market Overview:
The Automotive Engine Oil Coolant
Market is
likely to grow at an 11% CAGR in the forecast period 2024- 2032, according to
the latest Market Research Future (MRFR) analysis. Automotive engine coolant is
primarily used for keeping temperatures in control and thus avoiding
overheating of the engine and eventually engine seize. This coolant absorbs
heat from the engine eventually dissipating it to the engine radiator. It also
helps to protect the inner surfaces of the different metal components that are
exposed continuously to heat and friction, from corrosion or rusting. Thus the
engine oil coolant serves that dual purpose of rust protection and cooling the
engine.
Various
factors are fuelling the global automotive Automotive Engine Oil Coolant Market
share. As per the recent MRFR market estimates, such factors include the rapid
increase in sales of cars in developing countries, development of
infrastructure, growing need for light passenger vehicles and heavy-duty
vehicles, rising average lifespan of cars in operation, the demand for IC
engines, and growing need for fuel efficient cars.
On the
contrary, the impact of the COVID-19 pandemic may limit the global automotive Automotive
Engine Oil Coolant Market growth over the forecast period.
Automotive
Engine Oil Coolant Market Key Players
- MAHLE GmbH (Germany)
- Dana Incorporated (U.S.)
- Castrol (U.K.)
- Fluidyne Control Systems (P)
Ltd (India)
- Titanx Engine Cooling Inc.
(U.S.)
- PWR Holdings (Australia)
- Setrab (U.S.)
- Amsoil Inc. (U.S.)
- Blue Star Lubrication
Technology LLC
- Valvoline (U.S.)
- Royal Dutch Shell (U.K.)
- Chevron Corporation (U.S.)
Automotive
Engine Oil Coolant Market Segmentation
The MRFR
report throws light on an inclusive segmental analysis of the global automotive
Automotive Engine Oil Coolant Market based on type, cooling mechanism,
function, end market, and vehicle type.
·
By type,
the global automotive Automotive Engine Oil Coolant Market is segmented into
hybrid engine oil coolant, organic engine oil coolant, and synthetic engine oil
coolant. Of these, the synthetic engine oil coolant segment will lead the
market over the forecast period.
·
By
cooling mechanism, the global automotive Automotive Engine Oil Coolant Market
is segmented into liquid cooled, water cooled, and air cooled. Of these, the
liquid cooled segment will dominate the market over the forecast period.
·
By
function, the global automotive Automotive Engine Oil Coolant Market is
segmented into engine corrosion prevention and engine cooling. Of these, the
engine cooling segment will spearhead the market over the forecast
period.
·
By end
market, the global automotive Automotive Engine Oil Coolant Market is segmented
into after market and OEM (original equipment manufacturers). Of these, the
after market segment will have the lions share in the market over the forecast
period.
·
By
vehicle type, the automotive Automotive Engine Oil Coolant Market is segmented
into commercial car and passenger car. Of these, the passenger car segment will
have the largest share in the market over the forecast period.
Automotive
Engine Oil Coolant Market Regional Analysis
By
region, the global automotive Automotive Engine Oil Coolant Market covers the
recent trends and growth opportunity across North America, Europe, the Asia
Pacific (APAC), and Rest of the World (RoW). Of these, North America will lead
the market over the forecast period. The trend to own an automobile per
individual in Canada and the US and the trend to own sedans and large SUVs are
adding to the global automotive Automotive Engine Oil Coolant Market growth in
the region.
In the
APAC region, the global automotive Automotive Engine Oil Coolant Market is
predicted to grow at a fast pace over the forecast period. The rise in demand
for bigger and powerful vehicles, high demand for engine oil coolant as these
countries fall in the hot climatic conditions/tropical region, increasing
production of cars, strong presence of key car manufacturers in South Korea,
Japan, and China, and shift of focus of several manufacturers to hybrid engine
coolants from conventional engine coolants are adding to the global automotive Automotive
Engine Oil Coolant Market growth in the region.
In
Europe, the global automotive Automotive Engine Oil Coolant Market is predicted
to have healthy growth over the forecast period. This region is home to the
most powerful and trendiest automakers in the world. The high torque that these
cars produce makes it essential for kicking in a system such as the engine oil
coolant for utmost vehicle performance.
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