USD 7.30 Billion
Automotive Coolants Market Size, Share, Growth Analysis, By Vehicle Type(passenger cars and commercial vehicles), By Chemical Type(ethylene glycol and propylene glycol), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2383 |
Region:
Global |
Published Date: February, 2024
Pages:
184
|Tables:
59
|Figures:
75
Automotive Coolants Market Insights
Automotive Coolants Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 0 Billion by 2032, growing at a CAGR of 4.3% during the forecast period (2025-2032).
Concerns about potential closures and declines hit the automotive cooling market. Moreover, registration of new vehicles is limited because mandatory closures have limited the number of vehicles on the roads. But now the automobile industry is recovering from the losses and paving the way for the introduction of quality products to meet the growing demands of consumers across the globe. The automotive industry has achieved a significant increase in production by 2022 and is expected to rise further during the forecast period. With the increasing number of vehicles on the road, the demand for refrigerators is expected to grow significantly during the forecast period. In the medium term, the expansion of this market is driven by the growing automotive industry worldwide. In recent years, the demand for passenger cars has increased, which has helped to expand the market. Furthermore, end-user adoption of reusable refrigerators has increased due to stringent regulations on the safe disposal and recycling of antifreeze.
Major automakers are still offering diesel and petrol models which have increased the demand for engine cooling worldwide. Mainstream coolant manufacturers provide non-resistant chemicals in the coolant to prevent corrosion of engine components. Moreover, with expected increased adoption, thus maintaining vehicle mileage, refrigeration also plays an important role in increasing the demand of automobiles and automotive manufacturers and continued investment in R&D for product development low cost, environmentally friendly, low toxicity with high lifetime. The automotive coolant market is likely to grow during the forecast period. Furthermore, various products such as ethylene glycol, propylene easy availability, and abundance of glycol and glycerin in developed countries help new entrants to manufacture such products and drive the automotive coolant market.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Passenger Cars
Fastest Growth
Passenger Cars
Growth Rate
4.3% CAGR
Global Automotive Coolant Market ($ Bn)
Country Share for North America Region (%)
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Automotive Coolants Market Segmental Analysis
The global Automotive Coolant market is segmented on the basis of vehicle type, chemical type, and region. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By chemical type, the market is segmented into ethylene glycol and propylene glycol. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Vehicle Type
The largest segment in terms of market share tends to be passenger cars. Due to the volume of production, and the increasing use of these vehicles across the globe, passenger cars form an important segment of the vehicle cooling market. Factors such as increasing urbanization, consumption increasing use, and increasing demand for private transport vehicles.
On the other hand, the commercial vehicle segment represents the fastest-growing segment within the automotive refrigeration market. This growth can be attributed to the expansion of logistics and transport driven by the growth of e-commerce, global trade, and increased industrial activity. Commercial vehicles including trucks, buses, and other heavy vehicles often operate in more complex environments It's growing. In addition, stringent emission standards and fuel economy requirements for commercial vehicles further support the use of advanced cooling technologies.
Analysis By chemical type
Ethylene glycol is traditionally the largest segment in terms of market share. It is widely used as a refrigerant due to its excellent heat transfer properties and low cost compared to propylene glycol. Ethylene glycol-based coolants are effective in preventing engine freezing and overheating, making them desirable for a wide range of vehicles. A large part of the segment’s dominance can be attributed to its long-term presence in the market, established performance characteristics, and cost effectiveness.
On the other hand, the propylene glycol segment represents the fastest growing segment in the automotive coolant market. Ethylene glycol-based refrigerators are gaining popularity due to their environmentally friendly and less toxic nature compared to ethylene glycol. This is especially important when it comes to environmental safety concerns are becoming increasingly evident in the automotive industry. Propylene glycol coolants are also preferred in some applications, such as electric vehicles and hybrids, where the possibility of accidental driving is a major consideration. When automotive operation continues to focus on sustainable technologies and green technologies, the demand for propylene glycol based refrigerants is expected to grow rapidly, which will be the fastest growing segment in the automotive refrigerant market.
Global Automotive Coolant Market By Vehicle Type
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Automotive Coolants Market Regional Insights
North America has the largest market share. The North American market accounts for 30% of the total. Thanks to non-road capacity and climate change, the region has seen an increase in automotive production and demand for large-engine vehicles and important regional companies are investing heavily in manufacturing, factory infrastructure innovation, and research and development. The aftermarket of automotive refrigerants is growing rapidly in North America, with major manufacturers such as BASF investing heavily in local manufacturing facilities such as BASF’s Cincinnati plant that manufactures refrigerants for both on-road and off-road vehicles. BASF has also partnered with Old World Industries (OWI), a refrigeration supplier in North America, to increase its market share by increasing its distribution channels.
Asia-Pacific is the most important shareholder of the global automotive coolant market and is expected to grow at a CAGR of 5.3% during the forecast period Asia-Pacific owing to the volume of vehicles manufactured in major countries such as India, China, and Japan, operations with lower prices and labor costs across the region. It led the automotive cooling market globally and is expected to witness significant growth owing to increasing automotive demand in India during the launch period. Furthermore, the availability of cheap labor and raw materials in the region, coupled with the expanding number of local workers is currently expected to fuel the growth of the Asia-Pacific market during the forecast period. India is the world’s sixth largest producer of passenger cars and the second largest manufacturer of commercial vehicles. Furthermore, rapidly advancing technologies have led to improved product development, which is expected to fuel the growth of the segment market. The growth of the small and medium-sized industries has increased the demand for light vehicles and heavy vehicles. Shell Lubricants said in August 2022 that it will sell electric car battery coolers in India. Shell Lubricants India has increased the capacity of its lubricating oil blending plant in Taloja, Maharashtra, and now expects to further expand a few more products related to India and South Asia. If refrigerant production is increased in the area, it can greatly help the refrigeration manufacturers to meet the growing demand of the country. This is expected to boost the vehicle refrigeration industry in the region in the coming years.
Global Automotive Coolant Market By Region
- Largest
- Fastest
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Automotive Coolants Market Dynamics
Drivers
Increasing Automotive Production and Expansion of The Vehicle Fleet
- A key driver driving the car cooling market is continued growth in car manufacturing and expanding fleets globally. The automotive industry as a major consumer of coolant relies heavily on efficient engine cooling systems to ensure performance well and long lasting. The growing middle class, urbanization, and increasing disposable income in emerging economies contribute significantly to the expansion of the automotive market. Due to the large number of consumers purchasing passenger and consumer vehicles market, the overall demand for car refrigerators will increase accordingly. In addition, advances in manufacturing technology and the introduction of more sophisticated engines often require the use of specialized coolants to meet the specific cooling needs of modern engines.
Restraints
Environmental complications and compliance
- The outstanding mandate affecting the automotive coolant market is the increased emphasis on environmental sustainability and the need to adhere to stringent regulatory standards Generally. Traditional refrigeration equipment contains ethylene glycol or propylene glycol, which can pose an environmental hazard if not handled and disposed of properly. Worldwide, regulatory bodies are implementing stringent guidelines and regulations to address environmental concerns related to automotive refrigeration. Thus, manufacturers in the automotive refrigerator market are forced to develop and supply products that are environmentally friendly, biodegradable, and pose no significant threat to the environment. In response to these challenges, there has been a marked shift to developing and adopting environmentally friendly options, such as natural water coolers or refrigerators that are less likely to comply with these regulations meeting these requirements to ensure optimum engine performance is a major challenge for refrigeration manufacturers, but this innovation, opportunities for sustainable solutions and growth.
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Automotive Coolants Market Competitive Landscape
The automotive refrigerator market faces a characterized competitive environment and those key players are trying to gain competitive advantage through innovation of products, strategies, and geographical expansion. Market-leading companies are actively engaged in R&D with advanced cooling systems that improve engine efficiency while complying with environmental regulations. These industry participants tend to focus on establishing strong distribution networks and collaborating with automakers to strengthen their market presence. Factors such as technological advances, product differentiation, and constant emphasis on meeting improving industry standards, all contribute to stiff competition in the market and lead to competition in automotive of the water cooling market.
Top Player’s Company Profile
- BASF SE (Germany)
- Exxon Mobil Corporation (USA)
- Royal Dutch Shell plc (Netherlands)
- Chevron Corporation (USA)
- TotalEnergies SE (France)
- BP plc (United Kingdom)
- Fuchs Petrolub SE (Germany)
- Prestone Products Corporation (USA)
- Valvoline Inc. (USA)
- Old World Industries, LLC (USA)
- KOST USA, Inc. (USA)
- Caltex Australia Limited (Australia)
- Motul (France)
- ROWE Mineralölwerk GmbH (Germany)
- Sinopec Lubricant Company (China)
- Petro-Canada Lubricants Inc. (Canada)
- Recochem Inc. (Canada)
- Gulf Oil International Group (United Arab Emirates)
- Peak Antifreeze & Coolant (USA)
- ROWE Motor Oil GmbH (Germany)
Automotive Coolants Key Market Trends
- The automotive coolant market has witnessed a distinct trend in the development and adoption of advanced, environmentally friendly refrigeration systems. This trend is mainly due to the construction of products with environmental sustainability and regulatory pressures with greater emphasis on reducing the impact of vehicle exhaust on the environment. In response to these concerns, there has been an increasing shift towards more environmentally friendly methods, such as propylene glycol-based refrigeration and organic acid technology (OAT) refrigeration. These chemicals improve biodegradability and reduce toxicity while retaining effective thermal stability and corrosion protection properties. Additionally, trends include the search for non-toxic additives and water-based solutions that reduce the environmental footprint of water coolers throughout their lifecycle size the automotive cooling market.
Automotive Coolants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Automotive Coolant market analysis, the market continues to grow, driven by the expanding global automotive industry and consumers recognizing the increasing importance of engine cooling for vehicle performance and longevity. The demand for effective engine cooling solutions such as automotive cooling remains challenging as vehicle production and sales increase globally, especially in emerging markets with environmental factors and stringent regulations promoting eco-friendly and non-toxic cooling are influencing the market growth. The transition to electric vehicles is quiet in cool traditional magadha, although cool innovations designed for the high-performance systems of high-end rail systems open the ways of automotive technology, the need for proper penance management was critical, and its execution was crucial to the process.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 7.30 Billion |
| Market size value in 2030 | USD 10.66 Billion |
| Growth Rate | 4.3% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Coolants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Coolants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Coolants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Coolants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Coolants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Coolants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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