Global Automotive Engine Oil Coolant Market By Type (Organic , Synthetic), By Vehicle Type (Passenger Car, Commercial Vehicle), By Distribution Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032
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- 1 Automotive Engine Oil Coolant Market Overview:
- 2 Global Automotive Engine Oil Coolant Market Scope:
- 3 Key Market Segments
- 4 Market Dynamics:
- 5 Regional Analysis
- 6 Market Share & Key Players Analysis:
Automotive Engine Oil Coolant Market Overview:
The global automotive engine oil coolant market is expected to be valued at USD 4.85 billion in 2022, with a CAGR of 4.5% projected to reach USD 7.53 billion in 2032. One of the forces influencing market growth is the surge in demand for fuel-efficient vehicles. Engine oil lubricates the vehicle’s internal parts so they run smoothly, and cooling is intended to prevent an engine from overheating while it is running.
The addition of oil coolant to a machine, typically to remove excess heat from an internal combustion engine, is referred to as oil cooling. The hot engine transfers heat to the oil, passing through a heat exchanger and an oil cooler radiator. Oil-based cooling is more lubricating than water-based coolant.
Because heat is generated by friction between moving parts, reducing friction will reduce heat. Lubricant and coolant form a fundamental part of any vehicle. This market report gives a detailed analysis of the automotive engine oil coolant industry size, share, growth, key trends, and other key factors.
Global Automotive Engine Oil Coolant Market Scope:
The target product is divided into three types: organic, synthetic, and hybrid coolants. The synthetic oil cooling segment is anticipated to expand the fastest of the three types. This is because these coolants improve the driving experience of high-performance vehicles.
In terms of affordability and ease of access, the hybrid variety is the most desired because it combines the properties of both types. The hybrid variety’s organic component helps prevent metal component corrosion, whereas the synthetic combination helps improve performance.
Vehicle Type Analysis
Due to an increase in demand for utility vehicles in densely populated countries like The US, India, China, Brazil, etc., the passenger car segment is expected to hold a major Automotive Engine Oil Coolant market share by the end of the forecast period. Automobile manufacturers are launching newer brands and products to provide customers with customized coolant and lubricant solutions, thereby increasing the automotive coolant market share.
Global OEMs invest in the country through a partnership with established market players or direct investments after FDI norms have been met to set up production units or expand their sales and dealership networks across the country.
Distribution Channel Analysis
Automotive aftermarket and Original Equipment Manufacturer (OEM) are the two segments of the distribution channel. The automotive aftermarket sector held more than 65% of the market in 2022. Several commercial vehicles and passenger cars are present for transportation globally, and most of them required after-sales servicing in terms of maintenance.
Key Market Segments
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Distribution Channel
- Automotive Aftermarket
- Original Equipment Manufacturer (OEM)
The automotive coolant industry has gained significant traction due to the robust growth of the automotive aftermarket industry in Asia Pacific and North America. Furthermore, surging sales of various commercial vehicles in Asia Pacific, America, and Europe, which account for more than 80% of the global Automotive Engine Oil Coolant market, may boost the demand for automotive coolants during the forecast period.
There is a rising demand for light and heavy-duty passenger cars and a longer average life span. These are all factors that drive the demand for lubricant and coolant. Most fleet operators, such as cab service providers, logistics agents, ambulances, and other fleet maintainers, prefer automotive engine oil coolers where vehicles are operational for extended periods of time.
This is because more prolonged vehicle operation will almost certainly necessitate installing an oil cooling system to guarantee a minimal loss in operational processes. This can be viewed as a driving force in the automotive engine oil coolant market. The surging awareness among vehicle owners has impacted them to implement an oil cooling system, a new trend in the engine oil market.
The market is expected to expand as end-user requirements for new oil coolers rises. Automotive coolants are frequently subjected to technical innovations in terms of material composition due to the increasing number of research activities within the chemical industry. Because of the growing demand, the market size has increased.
Also, several companies have successfully developed coolants using technologies like Hybrid Organic Acid Technology (HOAT), Inorganic Acid Technology (IAT), and Organic Acid Technology (OAT), which will increase the market value.
China, Mexico, Turkey, Brazil, Argentina, India, etc., have a presence of several industry players, which creates lucrative opportunities for the target product. These rapidly developing countries have a thriving automotive sector.
This is supported by an expanding population, improving socioeconomic status, a burgeoning e-commerce sector, developing infrastructure, and increasing vehicle fleets. Volatile or unpredictable crude oil prices hurt petrochemical production, affecting propylene glycol and ethylene glycol production.
As a result, fluctuating raw material prices could pose a significant obstacle in the global automotive coolant industry over the forecast period. Additionally, vehicle sales and production growth have created a market for lubricant- and coolant manufacturers.
Turbochargers are commonly used in racing cars as well as high-performance vehicles. A lot of heat is produced inside the internal combustion engines because turbocharging includes the recirculation of exhaust air. This heat must be dissipated, and the racing vehicles must achieve optimal thermal balance to perform well.
As a result, an engine oil cooler assists in maintaining optimal oil temperature for the turbocharger and engine. In a racing application, the design of engine coolants and fluid profiles can be optimized based on the driver’s requirements. As a result, the Automotive Engine Oil Coolant market growth will be driven during the forecast period.
In 2022, the Asia Pacific region dominated the market with a share of 42.5%. The APAC market is expected to grow at the fastest CAGR of around 5% in the coming years, owing to the booming automotive industry, particularly in developing nations such as India.
India is the world’s sixth-largest producer of passenger vehicles and the world’s second-largest developer of commercial vehicles. The Automotive Engine Oil Coolant market in Asia Pacific has seen growth in bigger and more powerful vehicles. The US is the major contributor to this market in the North American region, which has the highest production of vehicles in this region.
Rapid industrialization has resulted in improved infrastructure, and an increase in small and medium-sized businesses has increased the country’s demand for heavy-duty trucks and light passenger vehicles. Government policies such as Auto Mission 2006-2016 and NATRiP have also contributed significantly to the growth of the Indian automotive sector, which has ultimately fueled the strong demand for auto coolants in OEM and aftermarket segments.
Some of the most prominent manufacturers in the United States, including Ford Motor Company, General Motors, Detroit Diesel, and Cummins, have accredited auto coolant equipment and stringent recycled antifreeze standards. This factor has benefited the North American market, owing to surging consumer awareness of the benefits of recycled resources and sustainability.
Key Regions and Countries Covered in The Report:
The regional analysis is given according to country level in North America, Europe, Asia Pacific, South America, and Middle East Africa.
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
Expanding manufacturing capacity is another important competitive strategy businesses use to establish themselves in the Automotive Engine Oil Coolant market further. Most renowned global automotive engine oil coolant manufacturers invest significantly in rigorous research and development activities to develop advanced auto coolants with improved qualities to facilitate higher efficiency and performance. These players introduce high-efficiency products to meet the growing demand for excellence in end-use industries.
Automotive Engine Oil Coolant Маrkеt Key Рlауеrѕ:
- Valvoline LLC
- BASF SE
- Exxon Mobil Corporation
- Chevron Corporation
- Prestone Products Corporation
- Royal Dutch Shell plc
- Sinclair Oil Corporation
- Sinope Corporation
- Ashland Corporation
- Other Key Players
These are the major players in the global automotive engine oil coolant market. Apart from this, the report also lists the most successful automotive coolant manufacturers and the strategies they use to stay relevant in the industry.
For the Automotive Engine Oil Cooler Market research study, the following years have been considered to estimate the market size:
Attribute Report Details
Market Size in 2022
USD 4.85 billion
Forecast Value in 2032
USD 7.53 billion
Short Term Projection Year
Long Term Projection Year
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
North America, Europe, Asia-Pacific, South America, Middle East & Africa
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)
What will be the market size for Automotive Engine Oil Coolant Market in 2032?
In 2032, the Automotive Engine Oil Coolant Market will reach USD 7.53 billion.
What CAGR is projected for the Automotive Engine Oil Coolant market?
The Automotive Engine Oil Coolant market is expected to grow at 4.5% CAGR (2023-2032).
Name the major industry players in the Automotive Engine Oil Coolant market.
Valvoline LLC, BASF SE, Exxon Mobil Corporation, Chevron Corporation, Prestone Products Corporation, and Other Key Players are the main vendors in Automotive Engine Oil Coolant.
List the segments encompassed in this report on the Automotive Engine Oil Coolant market?
Market.US has segmented the Automotive Engine Oil Coolant market by geographic (North America, Europe, APAC, South America, and MEA). By Type, market has been segmented into Organic, Synthetic and Hybrid. By Vehicla Type, the market has been further divided into, Passenger Car and Commercial Vehicle.
What are the main business areas for the Automotive Engine Oil Coolant market?
APAC and North America are the largest market share in Automotive Engine Oil Coolant Market operates.
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