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Automotive Part Cleaners & Degreasers Market Size
- Report ID: GMI3105
- Published Date: Jan 2019
- Report Format: PDF
Automotive Part Cleaners & Degreasers Market Size
Automotive Part Cleaners & Degreasers Market size was over USD 37.5 billion in 2017 and industry expects consumption at over 7 billion gallons by 2024.
Growing importance of vehicle maintenance and servicing is likely to stimulate automotive part cleaners & degreasers market growth. Global automobile maintenance & repair services market was valued at about USD 480 billion in 2017, which indicates tremendous growth opportunities. These products help restore the aesthetic quality of cars and improve life span which in turn increases their resale value. They help in removing dirt, and other residue which lowers the performance and market value of the vehicles. Booming construction sector, low production costs and availability of economic labor in China and India will further stimulate product demand.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| Automotive Part Cleaners & Degreasers Market Size in 2017: | 37.5 Billion (USD) |
| Forecast Period: | 2018 to 2024 |
| Forecast Period 2018 to 2024 CAGR: | 3.3% |
| 2024 Value Projection: | 47.5 Billion (USD) |
| Historical Data for: | 2013 to 2017 |
| No. of Pages: | 290 |
| Tables, Charts & Figures: | 455 |
| Segments covered: | Product, Type, Vehicle Type and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Rise in demand for clean, efficient and energy-saving engines primarily owing to emission-control regulations should promote automotive part cleaners & degreasers market growth. EU legislation aims to reduce greenhouse gas intensity of automobile fuels by 10% by 2020, which represents tremendous market growth potential. The gradual development of sludge, varnish and other residue build up affects normal vehicular operations, thus leading to poor performance, increased fuel consumption and decreasing vehicle lifespan. These products clean the entire lubrication system, improve vehicle efficiency and longevity which is likely to accelerate automotive part cleaners & degreasers market growth.
Automotive part cleaners often consist of various toxic solvents, powders and additives which are often carcinogenic in nature and present the risk of damaging the central nervous system. These products also contain corrosive acids and alkalis which can damage vehicle surfaces, create burn risks for workers and have adverse environmental effects which may hamper market growth.
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Automotive Part Cleaners & Degreasers Market Scope
