Global Automotive Aftermarket Fuel Additive Market is segmented By Distribution Channel (Big Stores, 4S Stores, E-Commerce, Others), By Supply Mode (Third Party, OEMs), By Application (Diesel, Gasoline), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
Automotive Aftermarket Fuel Additive Market is estimated to grow at a 6.8% CAGR during the Period 2024-2031
Aftermarket additives are a unique product used for preemptive maintenance and to scale back fuel-related issues. These additives are employed to enhance the performance of gasoline and diesel oil. They are often used to resolve automotive problems faced by customers, such as engine performance, lost fuel economy, poor drivability, excessive emissions, and so on. Automotive aftermarket fuel additives are further utilized within the equipment and its supplements – the latter includes a selection of lubricants present within the vehicle like transmission fluid, engine oil, power-assisted steering fluid, and kit oil. Aftermarket products won’t clean the components during which the lubricant operates, to reinforce the performance of the lubricant itself.
Market Scope
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Metrics |
Details |
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Market CAGR |
6.8% |
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Segments Covered |
By Distribution Channel, By Supply Mode, By Application, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Market Dynamics
The automotive aftermarket fuel additives market has been majorly driven by diesel fuel additives and is predicted to expand its usage during the forecast period. This is often accelerating due to the extensive usage of diesel oil additives in several regions, especially the Asia Pacific and Europe. This, in turn, results in the rapidly rising demand for Ultra-Low Sulphur Diesel (ULSD), which contains heavy amounts of additives. Also, stringent environmental rules and regulations on vehicular emissions, thereby surge in automotive sales that further propel the market growth. However, the high R&D costs for man working hours, technologies, and materials hamper the market growth. Furthermore, the introduction of other Automatic Fuel Vehicles (AFVs), like electric cars, has led to pose a challenge on the fuel additives market.
Modification of norms by Environmental Protection Agency
In the global scenario, the Environmental Protection Agency (EPA) has been regularly initiating changes and enforcing various norms for the reduction of vehicular emissions and to further improve upon the prevalent quality and efficiency of the fuels used. These rules and regulations are helping to drive the demand for the automotive aftermarket fuel additives market. In addition, the global automotive aftermarket fuel additives market is likely to be fuelled by the rapid production of automobiles, due to the increase in per capita income of the people in developing countries over the estimated timeframe. As such, aftermarket fuel additives are gaining wide acceptance and implementation to improve the performance of vehicles by minimizing maintenance costs.
COVID-19 Impact Analysis on Market
COVID-19 affected the global economy in many forms, such as supply chain distraction, directly affecting demand and production and financial impact. COVID-19 pandemic has highly affected the global automotive aftermarket fuel additive market. With the outbreak of COVID-19, and the lockdown being implemented, the demand for fuel from various industries decreased drastically, which successively, hindered the consumption of fuel additives during the amount. International aviation and disruptions in economic activity often suspended the trade of automotive vehicluar components around the world, which have severely impacted the fuel additives market. Besides, the stoppage in transportation facilities is also one of the major reasons for the downfall in the global automotive aftermarket fuel additives market. While the post-pandemic situation will bring lucrative opportunities for this market to bring up its overall market growth.
Market Segment Analysis
Based on the distribution channel, the global automotive aftermarket fuel additive market has been classified as Big Stores, 4S Stores, E-Commerce and Others
Big Stores and 4S Stores accounted for the highest share in the market
The Big stores and 4S stores (spare parts, sale, service, and survey) are the well-recognized type segment in automotive aftermarket fuel additives. Recently, e-commerce is additionally gaining wide acceptance due to the speedy internet adoption among customers and it's estimated to have growing popularity during the forecast period. As such, Big stores and 4S stores are the most popular supply channels in North America and Europe, whereas the Asia Pacific favors 4S stores and gas stations.
Based on the application, the global automotive aftermarket fuel additive market has been classified as gasoline and diesel.
Gasoline is accounted for the highest share in the market
The gasoline application is accounted for the largest market share in terms of value and volume in the global market due to the high presence of a gasoline-based vehicle in developing economies. Multifunctional gasoline additive packages exhibit exceptional injector detergency, which is resulting in an enhancement in the fuel efficiency of vehicles. While the diesel application segment is predicted to witness a high growth rate during the forecast period.
Market Geographical Share
Based on geography, the study analyzes the global automotive aftermarket fuel additive market in the global market, including Europe, Asia-Pacific, North America, South America, and the Middle East & Africa.
North America is leading the global automotive aftermarket fuel additives market
North America is leading the global automotive aftermarket fuel additives market. The rising demand for automotive aftermarket fuel additives in this region is particularly driven by the adherence to strict environmental emission control regulations and the rise in automotive sales. Moreover, the Environmental Protection Agency (EPA) has been regularly making changes and implementing various norms in the reduction of vehicular emissions and to further increase the prevalent quality and efficiency of the fuels used. Whereas, Asia-Pacific is expected to register high CAGR during the forecast period, owing to the escalating demand for gasoline additives for light commercial vehicles and increasing base of automotive manufacturers in particular China and India.
Market Companies and Competitive Landscape
The global automotive aftermarket fuel additive market is highly competitive due to major key players. The key players in the global automotive aftermarket fuel additive market which are contributing to the growth of the global market include BG PRODUCTS, INC., Lucas Oil Products, Inc., Total S.A., Chevron Oronite, Afton Chemical Corporation, BASF SE, Innospec Specialty Chemicals, Ashland Inc., Lubrizol Corporation and Infineum International Ltd.
BG PRODUCTS, INC.
Overview: BG Products, Incorporated was founded in 1971. Its headquarters is located in Wichita, Kansas. It has more than 200 employees across all its locations in business operations. The company's product line includes a range of products, such as gasoline, kerosene, distillate fuel oils, residual fuel oils, and lubricants. Also, it offers various online apps to its sales reps, automotive professionals, and vehicle owners, such as BG Products App (for vehicle owners), BG Rep App (for BG Sales Representatives), BG Experience App (for automotive professionals), SmartOPS App (for automotive professionals), BG Tech App (for automotive technicians) and BG Advisor App (for automotive professionals).
Product Portfolio: BG PRODUCTS, INC. offers various services under its various categories such Gasoline fuel services, engine services, cooling systems, transmission, driver line, brakes, battery, diesel fuel services, diesel emissions services and others.
Why Purchase the Report?
- Visualize the global automotive aftermarket fuel additive market segmentation composition by distribution channel, supply mode, application and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the global automotive aftermarket fuel additive market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of global automotive aftermarket fuel additive market - level 3 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global automotive aftermarket fuel additive market report would provide access to an approx. 60 market data table, 54 figures and 180 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
