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Published by linker 5
Posted on February 26, 2021
The automotive coolant aftermarket is anticipated to grow at a steady 4% CAGR throughout the assessment period (2020-2030). The global outbreak of the coronavirus has had a significant impact on the global automotive coolant aftermarket. In terms of the overall automotive industry, the automotive coolant aftermarket has remained largely resilient to the threat of recession.
High passenger and commercial parc and the associated requirement for maintenance activity sustains a steady demand for automotive coolant products. On the other hand, drop in sales of new vehicles, and disruptions to supply chains have impacted the production and demand for automotive coolants. Market performance is expected to remain slow through the pandemic, with recovery likely once government restrictions are relaxed.
“The growth of the overall automotive aftermarket and higher consumer awareness associated with engine efficiency and automotive maintenance are influencing factors for industry growth. Higher demand for low-emission vehicles will also aid adoption. Modern coolant products are characterized by low viscosity, superior thermal capacity, anti-corrosive, chemically inert, and non-hazardous materials that increase scope of HVAC applications. These trends will enable a strong recovery post the end of the pandemic,” says the FMI analyst.
Request a sample of the report to gain detailed aftermarket insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-11693
Automotive Coolant Aftermarket – Primary Takeaways
Automotive Coolant Aftermarket – Growth Factors
Automotive Coolant Aftermarket – Major Constraints
The Projected Impact of COVID-19
The coronavirus outbreak has had a substantial impact on the global economic landscape. Concerns about potential business closures and recession are hitting the automotive coolant market. Registrations of new vehicles are on the decline. In addition, lockdown orders have restricted the number of vehicles running on roads. These factors will restrict the growth of the automotive coolant aftermarket through the end of the pandemic.
On the other hand, analysts are positive about the rate of recovery for the aftermarket once the pandemic is brought under control. Also, automotive coolant manufacturers are pushing governments to designate their business as essential, which will help in partially mitigating losses during the crisis period.
Explore the automotive coolant aftermarket report comprising 129 figures, 28 tables and the table of contents. You can also find a comprehensive aftermarket segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11693
Competition Landscape
The automotive coolant aftermarket comprises players including but not limited to BP plc, ExxonMobil Corp., Valvoline Inc., and Royal Dutch Shell plc. Aftermarket players are seeking better product differentiation with improvements in performance parameters in new formulations. In addition manufacturers are also focusing on optimizing promotional and marketing strategies.
For instance, Castrol has unveiled a new program to provide free coolant to consumers in the industrial sector, as a COVID-19 strategy. On a similar note, Valvoline entered into a partnership with Sevilla FC as a part of its brand promotional campaign.
More About the Study
The FMI study provides detailed insights on automotive coolant aftermarket. The market is broken down in terms of product type (organic, inorganic, and hybrid), vehicle type (on-road vehicles and off-road vehicles ), and sales channel (vehicle service stations, independent garages, authorized dealers, multi-brand dealers, and online sales), across six key regions (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).
Table Of Content
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4.1. Services Adoption / Usage Analysis
4.2. Services USPs / Features
4.3. Strategic Promotional Strategies
5.1. Historical Market Volume Analysis, 2015-2019
5.2. Future Market Volume Projections, 2020-2030
Download Complete TOC Of this Report @ https://www.futuremarketinsights.com/toc/rep-gb- 11693
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About Future Market Insights
Expert analysis, actionable insights, and strategic recommendations of the experienced research team at FMI helps clients from across the globe with their unique business intelligence requirements. With a repository of more than thousand reports and 1 million+ data points, the team has studied the automotive and transportation sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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