31-Jul-2020 | Zion Market Research
As per analysts from Zion Market Research, the global automotive part cleaners & degreasers market size was valued more than USD 50 billion during 2019 and is expected to reach over 9 billion gallons by the end of 2026. The rising significance of vehicle servicing and maintenance is likely to spur automotive part cleaners & degreasers market progress. The global automobile repair & maintenance services market was capitalized at around USD 479 billion during 2017, which displays remarkable growth opportunities. These products aid in restoring the artistic quality of cars and advance life span which in return amplifies their resale value. They aid in removing dirt and residues that reduce the market value & performance of the vehicles. The surging construction sector, availability of economic labor across China & India, and low production costs will in the coming years stimulate product demand.
Some of the key companies in the market are DowDuPont, 3M, BASF SE, Fuchs Group, Wurth USA Inc., GUNK, Zep, Inc., The Claire Manufacturing Company, Penray, ABRO Industries, Inc., ICER BRAKES S.A., Airosol Company, Inc., Wynn’s, Bardahl Manufacturing Company, PETRA OIL COMPANY INC., ENGEN PETROLEUM LTD, Valvoline, The B'laster Corporation, and HOSHO Co. Ltd.
Rising Car Sales Projected To Spur The Global Automotive Part Cleaners & Degreasers Market
The worldwide automotive part degreasers and cleaners market is facilitated by numerous growth aspects. One of the major reasons aiding the progress in the market is the surge in the sales of the automotive sector worldwide. A study stated that about 54.8 million new cars hit the road during 2015 while in 2018, the number stood at 79 million. This is an indication of the mounting purchasing power and augmenting interest amongst consumers across the globe. The increasing car sales in the global automotive part cleaners and degreasers market is expected to boost growth in the future.
The global automotive part cleaners & degreasers market is divided based on the type, product, application, and geographical analysis. Based on the product, the market is segmented into cleaners and degreasers. Based on the type, the market is segmented into water-based and solvent-based. Based on the application, the market is segmented into light commercial vehicles, passenger cars, heavy commercial vehicles, and two wheelers.
North America Region Estimated To Witness Major Growth In The Global Automotive Part Cleaners & Degreasers Market
Based on the geological analysis, the global automotive part cleaners & degreasers market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The market across the North America region, driven by the U.S. and Canada, is expected to exceed USD 8.9 billion by 2025 due to the surging utilization of GDI engines (gasoline direct injection) in plug-in hybrid electric vehicles. The products make sure the removal of deposits in GDI engines, which form smooth & regular airflow, thus avoiding uneven idling. The development in charging infrastructure, the advanced availability of rapid-charging stations, and stringent emission norms is anticipated to stimulate GDI engine use and consequently enhance product demand.
Browse the full “Automotive Part Cleaners & Degreasers Market - By Type (Water-Based and Solvent-Based), By Product (Cleaners and Degreasers), By Application (Light Commercial Vehicles, Passenger Cars, Heavy Commercial Vehicles, and Two Wheelers), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/automotive-part-cleaners-degreasers-market
The global automotive part cleaners & degreasers market is segmented as follows:
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