Antifreeze Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is expected to account for largest revenue share of 47% by 2035. This expansion will be noticed due to the increasing production of electric vehicles in this region. Furthermore, China goes on to control the generation and sales of electric (and fuel cell) trucks and buses. In 2022, 54 000 latest electric buses and a calculated 52 000 electric medium- and heavy-duty trucks were marketed in China, showcasing 18% and 4% of complete sales in China and around 80% and 85% of international sales, individually. Additionally, a lot of the buses and trucks being marketed in Latin America, North America, and Europe are Chinese brands.
North American Market Insights
The antifreeze market in the North America region will also encounter massive growth and will hold second position in the global revenue share. This dominance will be noticed due to the existence of a well-settled automotive industry. Over and above, North America's automotive industry recently produced more than USD 500 billion in yearly sales and employs more than 1.7 million people, in line with the National Automobile Dealers Association (NADA). In terms of generation, North America stays a major player, with more than 17 million vehicles generated yearly.
