Saudi Arabia Automotive Coolant Market to Reach Around $ 200 Million by 2023
Rising vehicle sales coupled with expanding
automobile fleet size to boost automotive coolant market in Saudi Arabia
through 2023
According to TechSci Research report, “Saudi Arabia Automotive Coolant Market By Vehicle Type, By Product Type, By Technology, Competition Forecast and
Opportunities, 2013-2023”, automotive coolant market in Saudi Arabia is projected to reach
around USD200 million by 2023, on account of strong domestic
automobile demand and continuously expanding automobile fleet. Central and Western regions of the country
account for majority of the automotive coolant demand in the country. Fuchs Alhamrani,
Petromin, TOTAL S.A. (Saudi Arabia), Castrol, and Chevron Albakri Lubricants are few of the leading players in Saudi
Arabia automotive coolant market.
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Coolant Market"
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In 2017, Saudi
Arabia automotive coolant market was dominated by the passenger car segment,
followed by commercial vehicle and OTR vehicle segments. The passenger car
segment is expected to continue its dominance with the segment’s market share
expected to further increase during the forecast period. In terms of product
type, Ethylene Glycol holds around two-thirds of the market share, with
Propylene Glycol being a distant second and Glycerol grabbing the smallest pie
of the market. This trend is expected to continue in the coming years and the
market shares of Ethylene Glycol and Propylene Glycol are anticipated to further
increase through 2023.
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“More than 95% of the coolant demand in Saudi Arabia emanates from the
replacement market. With increasing R&D efforts on new coolant
formulations, the lifetime of coolants is witnessing a continuing increase,
which is affecting the demand for coolants. Consequently, it is anticipated
that due to increasing automobile sales in the country, the demand for coolants
from the OEM segment, which accounts for a very small market share, would increase
during the forecast period”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Saudi Arabia Automotive
Coolant Market By Vehicle Type, By Product Type, By Technology,
Competition Forecast and Opportunities, 2013-2023” has analyzed the future growth
potential of Saudi Arabia automotive coolant market and provides statistics and
information on market size, consumer behavior and trends. The report intends to
provide cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes the emerging
trends along with essential drivers, challenges and opportunities in Saudi
Arabia automotive coolant market.
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