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Automotive Part Cleaners & Degreasers Market with Geographic Segmentation, Statistical Forecast and Competitive Analysis Report to 2024

Author : Ronak Bora | Published Date : 2019-05-27 

High performance & low emission engine demand and rising importance of servicing & maintenance operations should promote automotive part cleaners & degreasers market growth. These products promote removal of engine contaminants prior to oil change which improves fuel efficiency. There is an increasing trend for online sale of automotive part & repair accessories to enhance the performance and efficiency of engines. Rising heavy and commercial vehicle demand owing to booming construction and e-commerce industries are expected to further increase automotive part cleaners and degreasers market demand. 

 

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. Automotive Part Cleaners & Degreasers Market may exceed USD 7 billion by 2024; according to a new research report.

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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.

Engine flush cleaner market is anticipated to witness commendable gains by 2024

Today’s high-performance vehicle engines require clean, uncontaminated and uninhibited motor oil for smoother operation. However, with time, engines irrefutably develop deposits such as gums, varnishes and sludge due to conditions like high temperatures, pressures, fuel dilution and combustion gasses, making it essential for service stations to use engine flush oil for rectifying the issue. The product efficiently removes performance affecting deposits from engines offering a much-improved driving experience and fuel economy to vehicle owners.

The growing focus towards vehicle maintenance and emission, particularly in strict, emission conscious countries like the UK where vehicles need to pass mandatory MOT tests to meet legal standards, will boost the use of engine flush oils. The U.S. is also known to be rather stringent regarding the deployment of these products, that would majorly push U.S. automotive cleaner & degreaser industry from engine flush cleaners. In fact, since these products increase the longevity and efficiency of the engine, U.S. automotive part cleaners & degreasers market size from engine flush cleaners is slated to register a CAGR of 2.5% over 2018-2024.

The expanding truck freight sector of the U.S. is another major driving force for the regional automotive cleaner & degreaser market. Indeed, the U.S. trucking industry is tagged to be the lifeblood of the country’s economy. According to the U.S. Bureau of Labor Statistics, the trucking industry is anticipated to offer over 1.7 million jobs to the country. With long distance deliveries, it becomes essential for drivers to maintain engine conditions to avoid unwanted breakdowns especially in remote locations and avoid delivery delays. The rising number of truck sales thus indicate that the U.S. is a thriving market for the automotive cleaner & degreaser industry. The NADA (National Automobile Dealers Association) even estimates that sales of new cars and light trucks in the U.S. will increase to 16.8 million in 2019, providing further growth prospects for the expansion of the regional industry.

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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.

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 cleaner & degreaser 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.

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.  

 

About Global Market Insights:

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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