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Global Automotive Part Cleaners & Degreasers Market 2021: By Product (Brake cleaners, Carburetor cleaners, Engine degreasers), By Type (Water-based, Solvent-based), By Vehicle Type (Passenger cars, Two-wheelers)Global Automotive Part Cleaners & Degreasers Market is the title of an upcoming market research report by Trusted Business Insights. Critical factors have been analyzed and studied comprehensively to present vital data and information in a well-planned format. In addition to the revenue shares of each segment, region/country, revenue growth driving factors, restraints, as well as opportunities in untapped regions and economies are included. The company profiles of key players comprise detailed information, recent developments, strategies, acquisitions & mergers, etc. The global automotive part cleaners & degreasers market is segmented by product, type, vehicle type, regions/countries.Request Covid - 19 Impact The Global Automotive Part Cleaners & Degreasers market size was valued at USD $23.15 Billion in 2020, USD $23.51 Billion in 2021, forecasted to reach USD $23.86 Billion in 2022, and is projected to reach USD $27.96 Billion by 2030, and is anticipated to expand at a CAGR of 1.52% over the forecast period from 2020 to 2030.
OverviewAutomotive part cleaners and degreasers are used to remove dirt, oil, and grease from the engine, brakes and various other parts of a car. In doing so, they help brakes last longer and enhance the overall efficiency of the vehicle.
DynamicsDrivers: The increasing demand for vehicle maintenance & servicing is one of the key factors contributing to the growth of the global automotive part cleaners & degreasers market over the coming years. These products are helpful in maintaining the appearance of the car and enhancing its lifespan, which, in turn, increases its resale value. Booming construction sectors, low costs of production and the availability of cheap labor in countries such as China and India will provide growth opportunities for the global market. Stringent government regulations promoting the use of clean, efficient and energy-saving engines to control emissions are expected to support market growth. These products help in emission control by cleaning the lubrication system, thereby, improving the efficiency and longevity of the vehicle. Restraints: Automotive part cleaners contain toxic solvents, powders, and additives that are capable of harming the central nervous system of end-users. Elements such as alkalis and corrosive acids are also present in these products which are capable of damaging surfaces of the vehicle along with posing harmful effects to the environment.
Segment AnalysisBy Product: The brake cleaners segment is projected to register a fast growth rate over the coming years. The growth is attributed to the increasing use of brake cleaners due to their efficiency in enhancing brake performance by eliminating brake fluid and increasing the longevity of brakes. Other factors such as growing disposable incomes among consumers will also lead to this segments growth. By Type: The water-based segment is expected to account for high revenue growth over the next 10 years. Stringent environmental regulations adopted by governments to control pollution is a factor that is contributing to this segments growth. These products remove a wide range of contaminants and ensure a chemical-free substrate for subsequent processes. By Vehicle Type: The passenger car segment is projected to account for the highest revenue share when compared to other vehicle type segments. The demand for these vehicles is increasing among consumers as these vehicles have a longer life span and low maintenance costs. Increasing disposable incomes, rapid urbanization and the development of road infrastructure are key factors contributing to the growth of this segment.
Regional Analysis:The market in North America is expected to account for the majority revenue share over the foreseeable future. The markets in Canada and the US are major revenue contributors in the region. This can be attributed to the increasing usage of plug-in hybrid electric vehicles. Part cleaners and degreasers help to eliminate deposits, which allows smooth airflow in the engine. The market in Europe is expected to account for significant growth over the next 10 years. Major revenue contributing markets in the region are that of the UK, Italy, Germany, Spain and France. Stringent regulations pertaining to air pollution adopted by several governments as well as robust competition between various vehicle parts and component sectors are among key factors contributing to market growth in the region. The Asia Pacific market is projected to index the fastest Compounded Annual Growth Rate(CAGR) in the coming years. This growth is accredited to the prolonged usage of cars and the lower proportion of cars discarded than bought in the region. Growing awareness about car maintenance, the increase in the sale of small cars supported by increasing disposable incomes among consumers will fuel market growth in the region.
Below are the leading companies profiled in this Automotive Part Cleaners & Degreasers Market Report:
Chapter 1 Methodology and Scope