Global automotive part cleaner & degreasers market is expected to reach USD 48.08 Billion by 2026, at a CAGR of 1.97% from 2019 to 2026. The global rise in the number vehicles, the increasing average age of vehicles, the growing emphasis on engine performance, fuel efficiency, and emission reduction, as well as growing demand for gasoline direct injection (GDI) engine, are driving the global automotive part cleaner & degreasers market.
Regular cleaning and degreasing are vital part of automobile maintenance regimes. It is an integral part of looking after critical automobile components as well as maintaining a safe and healthy working of automobile engines. Degreasers are chemical products that remove grease. Degreasers often also contain other ingredients like a petroleum-based solvent or a natural solvent like citrus to further aid in breaking down grease. Whereas automobile cleaners are chemical compounds that useful in cleaning vehicle surfaces that are dusty or lightly soiled, or that require a general (non-greasy) cleaning. Growing global focus on reducing the greenhouse gas emissions, Global increase in the automobile sales coupled with rising adoption of periodic maintenance services of vehicles in the developing economies around the world are anticipated to propel the global automotive part cleaner & degreasers market over the forecast period.
- The base year for the study has been considered 2018, historic year 2016 and 2017 and, the forecast period considered is from 2019 to 2026. The global Automotive Part Cleaner & Degreasers market is analysed on the basis of value (USD Billion) volume (Million Gallons), consumption (Million Gallons), imports (Million Gallons) and exports (Million Gallons).
- The study delivers a comprehensive analysis of global automotive part cleaner & degreasers market by product, type, supply, service, vehicle type and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global automotive part cleaner & degreasers market. This report incorporates the industry analysis which is focused on providing an extensive view of the Automotive Part Cleaner & Degreasers market.
- The study also includes attractiveness analysis of product, type, supply, service, vehicle type and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the automotive part cleaner & degreasers market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Growing emphasis on fuel efficiency and optimum engine performance
- Growth of the transportation industry
- Increasing demand for the gasoline direct injection (GDI) engines
- Advent of electric vehicles
- Technological advancements in the engine coating technologies
- Growing investment on research and development activities
- Growing adoption of hybrid degreasers
- Health related concerns associated with use of cleaners and degreasers
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region emerged as the global leader in the demand for the automotive part cleaner & degreasers with a 16.37 billion revenue in 2018. Whereas, The Asia Pacific region is expected to grow at the fastest CAGR of 4.10% over the forecast period.
Key players in the global automotive part cleaner & degreasers market areBASF SE, The 3M Company, WD-40, The DOW Chemical Company., among others.
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