The Global Automotive Lubricants Market Was Valued At $64,716 Million In 2015, And Is Projected To Reach $89,585 Million By 2022, Growing At A Cagr Of 4.8% From 2016 To 2022. Automotive Lubricants Are Fluids That Are Used To Reduce The Wear & Tear Of Vehicle Parts And Thus The Overall Friction. Their Primary Function Is To Avoid Metal-To-Metal Contact Among Engine And Other Vehicle Parts. Automotive Lubricants Exhibit Excellent Demulsibility And Corrosion Protection Properties, And Extend The Overall Vehicle Life, Improve Efficiency Of The Vehicle, And Aid In Achieving Higher Productivity. The Selection Of Lubricants For A Particular Vehicle Depends On A Wide Range Of Factors, Such As Exposure To Temperature And Harsh Environmental Conditions.
The Market Has Witnessed Significant Growth Opportunities Globally, Owing To Increase In The Production And Demand For Automobiles, And Growth In Demand For Advanced Technologies And Better Quality Products. Furthermore, Rise In Per Capita Disposable Income, Overall Economic Growth, And Upsurge In Number Of Vehicles Demanding Servicing And Reconditioning Are Further Anticipated To Boost The Market Growth During The Forecast Period. Moreover, Rise In Demand For Repair, Maintenance, And Renovation Of Old Vehicles; And Increase In Consumption Of Synthetic Lubricants, Owing To Its Superior Characteristic Properties, Such As Low Emissions Of Volatile Compounds And Relatively Thicker Layer As Compared To Traditional Mineral Oil Lubricants, Are Anticipated To Supplement The Global Market. However, Volatile Prices Of Raw Materials And Difficulty In Sourcing These Raw Materials Are Expected To Hamper This Growth.
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The Global Automotive Lubricants Market Is Categorized On The Basis Of Base Oil, Application, Vehicle Type, And Geography. The Base Oil Segment Consists Of Mineral Oil, Synthetic, Semisynthetic, And Bio-Based Lubricants. Based On Application, The Market Is Broadly Classified Into Engine Oil, Gear & Brake Oil, Transmission Fluids, Greases, And Others. By Vehicle Type, It Is Divided Into Passenger Cars, Light Commercial Vehicles (Lcvs), Heavy Commercial Vehicles (Hcvs), And Others. Geographically, The Market Is Analyzed Across North America, Latin America, Europe, Asia-Pacific, And Lamea.
The Key Players In The Global Automotive Lubricants Market Have Adopted Various Market Penetration And Growth Strategies, Such As Mergers & Acquisitions, With The Local And Established Players. They Have Focused On Developing New Products, Such As Lighter And Relatively Thicker Lubricants, To Avoid Extra Weight And To Reduce The Overall Costs.
The Key Players Profiled in the Report Include:
Royal Dutch Shell Plc.
Exxon Mobil Corporation
Petrochina Company Limited
Indian Oil Corporation Ltd.
Key Benefits for Stakeholders
The Report Provides Extensive Qualitative And Quantitative Analyses Of The Current Trends And Future Estimations Of The Global Automotive Lubricants Market From 2014 To 2022 To Determine The Prevailing.
Comprehensive Analysis Of Factors That Drive And Restrict The Growth Of The Market Is Provided.
Market Estimations And Forecast Of The Industry Are Based On Factors Impacting The Market Growth, In Terms Of Value And Volume.
Competitive Intelligence Of Leading Producers And Suppliers Of Automotive Lubricants Assists To Understand The Competitive Scenario Globally.
The Report Provides Extensive Qualitative Insights On The Significant Segments And Regions Exhibiting Favorable Market Growth.
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Name: Sameer Joshi
Email: [email protected]
Organization: Premium Market Insights
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