Global Automotive Coolant Market 2017-2021
About Automotive Coolant
A coolant is used to dissipate excess heat from an internal combustion engine (ICE). It also protects the engine against corrosion. In general, an engine converts nearly one-third of the energy generated through the combustion of fuel into work, which runs a vehicle. The other two-thirds of the energy is converted into heat, of which one-third of the heat is expelled with the exhaust gases; the rest remains in the engine block, which creates the need for the coolant to absorb the excess heat, thereby enabling the engine to operate efficiently. Automotive coolant is composed of different elements.
Technavio’s analysts forecast the global automotive coolant market to grow at a CAGR of 4.79% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive coolant market for 2017-2021. To calculate the market size, the report considers the new installations/shipments/sales/volume. The replacement/aftermarket volume has not been considered in the report.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Coolant Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive coolant marke: Shell, Exxon Mobil, and British Petroleum.
Other Prominent Vendors in the market are: BASF, Chevron, Indian Oil, Kost USA, LUKOIL, Motul, Prestone, Sinopec, and TOTAL.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increase in adoption of electric coolant pump to regulate flow of coolant. Recently, OEMs have implemented electric coolant pump in their vehicles for the proper circulation of the coolant in the engine cooling system. The major reason for the increased inclusion of electric coolant pump is to increase the fuel economy benefits and to reduce carbon emission. In 2006, BMW was the first OEM to use electric coolant pump in its N47 engine that had a capacity of 3L.”
According to the report, one of the major drivers for this market is Heavy dependence on IC engines for mobility in emerging countries. Emerging countries such as India and China are witnessing an increase in the preference for mobility through roadways. In 2016, IC engines held a market share of more than 95% of the total vehicles sold globally. Therefore, these vehicles played a crucial role for mobility. In the commercial vehicle segment, there is hardly any vehicle that runs on battery or on alternate fuels. Therefore, the reliance on ICEs for transportation is high. All IC engines require engine coolants to dissipate the excess heat from the engine compartment. Even the coolant capacity in the M&HCVs is more than other vehicles. In APAC, on an average, the coolant capacity is 29L, whereas, in the Americas and Europe, the coolant capacity is 42L and 38L respectively for heavy-duty trucks.
Further, the report states that one of the major factors hindering the growth of this market is Rise in demand for battery electric vehicles poses a threat for automotive coolants. The sales of the battery electric vehicles started peaking since 2014. In 2016, there were multiple factors influencing the sales of battery electric vehicles. The most important factor was the intent of the government to promote sales of battery electric vehicles. The battery electric vehicles market is nurtured by the governments globally to curb carbon emission.
Shell, Exxon Mobil, and British Petroleum. BASF, Chevron, Indian Oil, Kost USA, LUKOIL, Motul, Prestone, Sinopec, and TOTAL.