Automotive Fluid Reservoir Market: Introduction
Automotive fluid reservoir is a type of tank or reservoir which is used to store the oil or other type of fluid in a vehicle for different type of operations. Various type of fluid reservoir are present in a vehicle including Washer Fluid Reservoir, Brake Fluid Reservoir, Power Steering Fluid Reservoir, Transmission Fluid Reservoir, Coolant Fluid Reservoir and Recovery Tank. These fluid reservoir store the fluid which prevent the component from corrosion & dust and also helps the component in proper functioning. Most of the automotive fluid reservoir are made using injection molding process and they are also welded using mirror welding, friction welding or hot gas welding in order to manufacture durable and reliable products. In current scenario, manufacturers of automotive fluid reservoir are focusing on developing light weight and durable products that can reduce the weight of the vehicle and increase the fuel efficiency.
Automotive Fluid Reservoir Market: Dynamics
Growth of automotive fluid reservoir market is on upward scale due to increasing sales and production of automobiles across the globe owing to increasing per capita income and rising living standard of the middle class population. This factor is coupled with increasing automobile fleet which is estimated to propel the demand for automotive fluid reservoir in the aftermarket. Moreover, growing average life of the vehicle in the developed regions such as North America, is also one of the key factor for the growth of aftermarket which will directly effect on the growth of automotive fluid reservoir market. Automotive fluid reservoir has several benefits as they provide proper functioning of the components and also reduces the maintenance of the vehicle. Furthermore, easy financing option for purchasing the car or commercial vehicle is also another factor that affirmatively effect on the growth of automotive fluid reservoir market over the forecast period.
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Automotive Fluid Reservoir Market: Segmentation
Automotive Fluid Reservoir market can be segmented by product type, vehicle type and sales channel
On the basis of product type, Automotive Fluid Reservoir can be segmented as:-
- Washer Fluid Reservoir
- Brake Fluid Reservoir
- Power Steering Fluid Reservoir
- Transmission Fluid Reservoir
- Coolant Fluid Reservoir
- Recovery Tank
On the basis of vehicle type Automotive Fluid Reservoir can be segmented as:-
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- Electric Vehicles
On the basis of sales channel Automotive Fluid Reservoir can be segmented as:-
- OEM (Original Equipment Manufacturer)
Automotive Fluid Reservoir Market: Regional Overview
Growth of the automotive fluid reservoir market is directly correlated with the growth of automotive industry. With the increasing demand for passenger car across the globe, the sales and production of automobiles are also increasing which is expected to positively affect the growth of automotive fluid reservoir market. Among all the regions, East Asia is expected to hold prominent share in the global automotive fluid reservoir market owing to being largest manufacturers of automotive across the globe. In East Asia, China is expected to drive the growth of the automotive fluid reservoir market. Moreover, developed region such as North America and Western Europe is also estimated to accounts significant share in the global automotive fluid reservoir market due to presence of numerous automobile manufactures across the regions. Emerging regions including Latin America, Eastern Europe and the Middle East & Africa are expected to grow with relatively high growth rate as compared with developed regions due to increasing purchasing power of middle class population which increases the demand for passenger cars and positively affect the growth of the automotive fluid reservoir market.
Automotive Fluid Reservoir Market: Market Players
Examples of some of the market participants in the global Automotive Fluid Reservoir market identified across the value chain includes: Performance Bodies, FRÖHLICH PLASTICS GROUP, Gemini Group, Inc., Doga, Sortech Autoparts LLC and Hangzhou Calwin Auto Technical Ltd, among others.
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