Market Size – USD 74.98 Billion in 2019, Market Growth – CAGR of 4.65%, Market Trends – The expanding petrochemicals sector
The global automotive lubricants market is expected to be valued at USD 112.20 Billion in 2027 from USD 74.98 Billion in 2019, registering a CAGR of 4.65% through the forecast period. Revenue from the global automotive lubricants market is predicted to register a significantly high growth rate over the forecast years, owing to various growth-influencing factors. The pivotal factors accelerating the global automotive lubricants market growth include the growing sales of passenger cars, rising demand for engine oils, the surging adoption of high-performance and lightweight vehicles, and a rise in people’s disposable incomes, especially in developed economies.
The leading market competitors include Chevron Corporation (U.S.), Valvoline (U.S.)., ExxonMobil Corporation(U.S.), Total S.A. (France), Fuchs Lubricants Co. (U.S.), ConocoPhillips Corporation (U.S.), IDEMITSU Kosan Co. Ltd. (Japan), LUKOIL Oil Company (Russia), Royal Dutch Shell plc (Netherlands), and Castrol (U.K.).
Automotive lubricants are lubricating oils used in motorized vehicles. These lubricants are used to reduce the friction and wear occurring in the vehicle’s components. They maximize the vehicle’s overall efficiency by preventing the engine from rusting and cooling the pistons. Moreover, these lubricants aid in the vehicle’s temperature control as they absorb the heat generated and transfer it to the sump. Engine and gear oils, greases, synthetic oils, and mineral oils are the most widely used automotive lubricants. The global automotive lubricants market is further accredited to the growing sales of light and heavy commercial vehicles, rising costs of conventional fuels, higher demand for automotive fuel-efficiency, and the surging adoption of bio-based automotive lubricants in compliance with stringent environmental regulations. Increasing investments in R&D activities to develop high-performance, superior quality synthetic, and semi-synthetic oils create further growth avenues for the global automotive lubricants market. However, the rapid shift from conventional automobiles to electric vehicles (EVs) and the intensifying government focus on curbing CO2 emissions are expected to restrict the market growth in the years to come.
To Get Sample Copy of Report visit: https://www.reportsanddata.com/sample-enquiry-form/1064
For the purpose of this report, the global automotive lubricants market has been segmented on the basis of base oil, vehicle type, application, and region:
By Base Oil (Volume Kilo Tons, Revenue, USD Million; 2017-2027)
- Synthetic Oil
- Semi-synthetic Oil
- Mineral Oil
- Bio-based Lubricants
By Vehicle Type (Volume Kilo Tons, Revenue, USD Million; 2017-2027)
- Passenger Cars
- Heavy Commercial Vehicles
- Light Commercial Vehicles
By Application (Volume Kilo Tons, Revenue, USD Million; 2017-2027)
- Engine Oils
- Transmission Fluids
- Gear Oils
- Brake Fluids
Regional Outlook (Volume Kilo Tons, Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Browse the comprehensive TOC and data tables @ https://www.reportsanddata.com/report-detail/automotive-lubricants-market
Key findings of the report:
- Among the vehicle types, the passenger cars segment is projected to attain the leading market position over the estimated period, exhibiting a robust CAGR of 4.9%. The consistently rising demand for passenger cars, rise in ownership of vehicles, and the surging disposable incomes of people, especially in developed countries around the world, are the key parameters contributing to the growth of this segment.
- Based on application, the engine oils segment is touted as the most dominant in the global automotive lubricants market in terms of market share. Rising production and sales of automobiles, growing consumption of engine oils, and a surge in R&D programs to develop low-cost, energy-efficient engine oils are the key factors spurring this segment’s growth. Due to their reduced wear, low viscosity, and corrosion-resistance, engine oils are extensively used in passenger cars, light-duty trucks, and diesel trucks.
- Among the leading regional markets, Asia Pacific is poised to emerge as the most dominant region in the automotive lubricants market globally, registering a CAGR of 41% over the forecast timeframe. A significant rise in the adoption of advanced automotive fuels, increasing sales of automobiles, rapid urbanization, and higher purchasing power of individuals in the region are likely to bolster the Asia Pacific market growth.
- In October 2020, the leading American tire manufacturing company, Goodyear, tapped into India’s automotive lubricants market with the launch of its new range of engine oils, in collaboration with Assurance International. The new product line comprises greases, transmission oils, brake fluids, hydraulic oils, and diesel exhaust fluids.
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2017-2027
Chapter 3. Indicative Metrics
Chapter 4. Automotive Lubricants Market Segmentation & Impact Analysis
4.1. Automotive Lubricants Segmentation Analysis
4.2. Regulatory Framework
4.3. Technological Insights
4.4. Automotive Lubricants Market Impact Analysis
4.4.1. Market driver analysis
188.8.131.52. Increase in mobility of population on account of urbanization, growing per capita income, and growing aspirations of possessing a vehicle
Find more research reports on Lubricants and Greases Industry, by Reports And Data:
Bio Lubricants Market Size, Share & Analysis, By Raw Material (Vegetable Oil, Animal Fats), By Ester (TMP, PE, NPG), By End-User (Industrial, Commercial Transport, Consumer Automobile), By Application, By Region, Forecast To 2027
Lubricating Oil Additives Market Size, Share & Analysis, By Function (Dispersants, Detergents, Anti-oxidants, Anti-wear agents, Extreme Pressure additives, Viscosity Index Improvers) By Application (Engine, Gear, Process, Industrial, Hydraulics Fluid, Metal Working Fluid) By Sector Type (Automotive, Industrial), Forecasts To 2027
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Company Name: Reports and Data
Contact Person: John Watson
Email: Send Email
Address:40 Wall St. 28th floor
City: New York City
State: NY 10005
Country: United States