Automotive Coolant & Lubricant Market
passenger cars have created ample opportunities for coolant and lubricant manufacturers. Rising consumer awareness about engine efficiency and automobile maintenance is an influential factor for industry growth.
Global Automotive Coolant & Lubricant Market: Segmentation
The global automotive coolant & lubricant market is fragmented based on the application as transmission lubricant, engine coolant, brake lubricant, HVAC coolant, and engine lubricant. Based on types, the global market is categorized as a light commercial vehicle, passenger car, and heavy commercial vehicle. Of these, the passenger car is the dominating type segment across the world, which accounted for the maximum share. Further, the global market is bifurcated based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Global Automotive Coolant & Lubricant Market: Regional Analysis
Asia Pacific is anticipated to be the largest market for automotive coolant & lubricant and it is anticipated to grow at a higher rate in future. Additionally, emerging economies such as India, China, and Japan are major contributors to the growth of the automotive coolant & lubricant in Asia Pacific. North America contributed for the largest market chunk in the coming years due to increased production of vehicles. However, to cater to the huge demand for automotive coolant & lubricant in this region, many original equipment manufacturers are expanding their market boosting the global automotive coolant & lubricant market in a positive way.