Growing sales of passenger vehicles, increasing demand from mining sector and growth in construction activities in the country to drive Australia automotive coolant market through 2025
According to ChemAnalyst report, “Australia Automotive Coolant Market By Vehicle Type (Passenger Car, Commercial Vehicle, Two-Wheeler and OTR), By Product Type (Ethylene glycol, Propylene glycol and glycerol), By Technology (Inorganic acid technology, Organic acid technology and Hybrid organic acid technology), By Demand Category (OEM Vs. Replacement) and By Region, Forecast & Opportunities, 2025”, Australia automotive coolant market was valued USD 267.06 Million in 2019 and is forecast to grow at CAGR of over 9% in the next five years to reach USD 340.61 Million by 2025. Over the years, mining and construction industry has been a vital driver of Australia’s economy. These two industries have been the leading contributors to the country’s GDP. Construction industry generates demand from both the public and private sectors, across residential, commercial and institutional markets, creating opportunities for commercial and OTR vehicles market. Australia’s export sector is largely dependent on the country’s natural resources. Growing mining activities across the country and expansion of the construction industry has been significantly aiding the growth of Australia automotive coolant market.
Browse 34 market Figures and 4 Table spread through 89 Pages and an in-depth TOC on "Australia Automotive Coolant Market"
Australia automotive coolant market is segmented based on vehicle type, product type, technology, demand category and region. Based on vehicle type, the market can be segmented into passenger car, commercial vehicle, two-wheeler and OTR. Based on vehicle type, passenger car led the market with share of 47.63% in 2019 and the trend is likely to continue through 2025 due to growing sales of passenger car and increasing disposable income. In terms of product type, market can be segmented into ethylene glycol, propylene glycol and glycerol. Ethylene glycol is expected to hold major share during the forecast period, on account of low price, availability and demand in the market, so the majority of lubricant manufacturer prefer to use ethylene glycol for manufacturing of automotive lubricants.
Regionally, Australia automotive coolant market has been segmented into regions including New South Wales, Victoria & Tasmania, Queensland, Western Australia and Northern Territory & Southern Australia. New South Wales is expected to hold major share in the market owing to major provinces and attracting an increasing number of people to migrate to this region.
Some of the major players operating in Australia Automotive Coolant market are Royal Dutch Shell Plc, Castrol Australia Pty Ltd, Chevron Australia Downstream Pty. Ltd., Penrite Oil Co Pty Ltd., Valvoline Australia Pty Ltd, Caltex Australia Ltd., Total Oil Australia Pty Ltd, Nulon Products Australia Pty Ltd, Exxon Mobil Corporation Ltd, Fuchs Lubricants (Australasia) Pty Ltd, etc.
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“North South Wales is expected to dominate the automotive coolant market during the forecast period, owing to increase in shift of people in the region for better opportunity and livelihood. Moreover, with growing economy and rising transport requirements, the automotive sector will boom in the region in the coming years. Furthermore, the automotive industry is focusing on setting up on new manufacturing and assembly lines in Australia to supress the dependency on import of passenger vehicles from other Asian countries. The decision to reduce the import of passenger vehicles in Australia and setting up their manufacturing base in the country creating lucrative opportunities for the growth of market over the next few years.” said Mr. Karan Chechi, Research Director with ChemAnalyst, a research based global management consulting firm.
“Australia Automotive Coolant Market By Vehicle Type (Passenger Car, Commercial Vehicle, Two-Wheeler and OTR), By Product Type (Ethylene glycol, Propylene glycol and glycerol), By Technology (Inorganic acid technology, Organic acid technology and Hybrid organic acid technology), By Demand Category (OEM Vs. Replacement) and By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of automotive coolant and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia Automotive Coolant Market.
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Source : ChemAnalyst