The sizes of the automotive coolant and lubricant markets, in terms of volume, are projected to grow at a CAGR of 6.73% and 8.10% respectively from 2014 to 2019 and reach 346.62 million gallon and 408.48 million gallon by 2019.
Dallas, TX -- (SBWIRE) -- 01/14/2015 -- The report "Automotive Coolant & Lubricant Market by Vehicle Type (Passenger Car, LCV, & HCV), Application (Coolant-Engine & HVAC, Lubricant-Engine, Brake, & Transmission), Region & Aftermarket - Global Trends & Forecast to 2019", defines and segments the automotive coolant and lubricant markets with analysis and forecast of the global volume and value. The global automotive coolant and lubricant markets are projected to grow at a CAGR of 6.73% and 8.10% respectively from 2014 to 2019 to reach a volume of 346.6 million gallon and 408.4 million gallon respectively by 2019.
Browse 80 market data tables and 48 figures spread through 230 pages and in-depth TOC on "Automotive Coolant & Lubricant Market - Global Trends & Forecast to 2019"
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Asia-Pacific: Growing market
The Asia-Pacific region comprises countries such as China, Japan, South Korea, and India. The region is dominated by developing countries such as India and China, wherein the automotive industry is growing at a significant rate. The growing demand for light passenger vehicles, the rise in the average lifespan of vehicles in operation, and the increasing number of vehicle manufacturing facilities owing to the low cost of production in these countries has led to an increased production capacity. The rising demand for light and heavy commercial vehicles is also driving the markets for automotive coolant and lubricant in these countries. The sizes of the automotive coolant and lubricant markets by volume in the Asia-Pacific region are projected to grow at a CAGR of 6.55% and 7.66% respectively from 2014 to 2019.
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Europe: Prospective Eastern European market
The coolant and lubricant industries in Europe are dominated by U.K., Germany, France and Italy, owing to the automobile production volume in these countries. However, the automotive industry has reached its maturity stage in Western Europe. As a result of this, OEMs are now shifting their focus towards Eastern European countries. Thus, many coolant and lubricant manufacturers are setting up blending plants and R&D centers in Eastern European countries such as the Netherlands and Russia. The sizes of the European automotive coolant and lubricant markets by volume are projected to grow at a CAGR of 5.68% and 6.51% respectively from 2014 to 2019.
North America: Growth opportunity in Mexico & Canada
The North America region comprises countries such as the U.S., Canada, and Mexico and is also a matured market for the automotive industry. It is however, also an automotive hub for many OEMs such as General Motors, Chrysler, and Ford Motors. OEMs are entering into partnerships with major lubricant and coolant manufacturers. Countries where the automotive industry is currently growing, like Mexico and Canada, would drive the demand for coolant and lubricant. The sizes of the North American automotive coolant and lubricant markets in terms of volume are projected to grow at a CAGR of 8.11% and 10.61% respectively from 2014 to 2019
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