Engine Oil Coolant Market Analysis
The automotive engine oil coolant market is likely to grow at an 11% CAGR in the forecast period 2022- 2030, 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 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 engine oil coolant market growth over the forecast period.
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Engine Oil Coolant Market Segmentation
The MRFR report throws light on 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, the synthetic engine oil coolant segment will lead 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 dominate the market over the forecast period.
By function, the global 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 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 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.
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Engine Oil Coolant Market Regional Analysis
By region, the global 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 engine oil coolant market growth in the region.
In the APAC region, the global 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 engine oil coolant market growth in the region.
In Europe, the global 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.
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.)
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