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Automotive Part Cleaners & Degreasers Market In UK To Witness Significant Growth Rate To 2024

Author : Ronak Bora | Published Date : 2019-05-15 

UK automotive part cleaners & degreasers market size regarding light commercial vehicles was valued at USD 28.5 million in 2017. These vehicles offer low operating & maintenance costs, fuel efficiency and are used on a larger scale.  These vehicles allow modification as per requirements and are witnessing significant demand on account of road infrastructure growth. The country is witnessing growing investment in R&D activities to increase vehicle lifespan, engine performance and ensure regulatory compliance which should lead to a significant demand for various automotive part cleaners and degreasers.

Rising importance of maintenance and servicing of vehicles will boost the automotive part cleaners & degreasers market growth. Auto cleaners restore the aesthetic quality of cars and improve the durability which in turn increases their resale value. Automotive part cleaners & degreasers remove dirt, grease and other residues which lower the performance and market value of vehicles. Rise in disposable income, growing sales in automobile industry and stringent environmental norms pertaining to emissions are likely to stimulate the product demand. Automotive Part Cleaners & Degreasers Market may exceed USD 7 billion by 2024; according to a new research report.

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Automotive part cleaners & degreasers market surpassed USD 22.5 billion in 2017 on account of increasing consumer safety, reduced VOC emission and improved engine performance. Automotive part cleaners & degreasers enhance the fuel performance, free up excess contamination around brakes for efficient working, clean the entire lubrication system for oil change and remove carbon build up which can cause emission of harmful gases in the air. These high-performance chemicals are used to improve shine and gloss of vehicles which is likely to increase the product demand in transportation sector.

 

China transmission degreaser market size is estimated to exceed USD 1 billion by 2024 pertaining to rising purchasing power and standard of living. This product breaks down varnish deposits and cleans internal transmission components to prevent damage and ensure passenger safety. They improve vehicle speed and maintain optimal gearbox condition. Increasing demand for vehicle longevity, performance, leakage elimination and periodic servicing should accelerate automotive part cleaners and degreasers market growth.

North America automotive part cleaners & degreasers market from light commercial vehicles should exceed USD 5.5 billion by 2024. LCV's have gained importance owing to their off-roading capabilities which make them viable for small scale business owners in the region. Technological advancement has enhanced safety features like antilock braking system which has resulted in increased vehicle sales. Rising economic growth and e-commerce should accelerate market growth.

Europe automotive part cleaners & degreasers market from passenger cars may register significant gains at over 2.5% up to 2024 owing to its clean production and strict environment regulations. These products have increased the engine performance, reduced VOC emissions and enhanced mobility in the region thereby increasing the passenger vehicle sales. Investment in R&D activities and energy saving effectiveness while manufacturing should boost the market growth.

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Major industry participants for automotive part cleaners & degreasers market include: GUNK, 3M, WD-40, Wurth Group, Bardahl Manufacturing Corporation and Valvoline. Prominent manufacturers are engaged in production capacity development to satisfy increasing consumer demand and research & development activities to recognize improved products which should boost automotive part cleaners & degreasers industry growth.

Global automotive part cleaners & degreasers market from HCV’s may register growth at over 2.5% by the end of forecast period. Government initiatives to invest in road construction, commercial and & non- commercial projects, and travel & tourism sector have increased the demand of for heavy commercial vehicles for the transportation of raw materials, thereby enhancing product demand.

Global automotive part cleaners market share is consolidated and less competitive with the key manufacturers being BASF, 3M Company, DowDupont, WD-40 and Valvoline Inc. Other manufacturers include Wurth USA, GUNK, Bardahl Manufacturing Corporation, and Engen Petroleum Ltd. Various manufacturers are indulging in strategic acquisitions to foster regional presence and improve product offering. Companies are engaging in strategic collaborations to develop innovative products and expand production range which should accelerate automotive part cleaners market growth.

 

Browse Full Report @ https://www.gminsights.com/industry-analysis/automotive-part-cleaners-and-degreasers-market

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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