A new market study, titled “Discover Global Automotive lubricants Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
When it comes to expanding the life of the vehicle or any machines, engine oils or lubricant plays a significant role. High-quality automotive lubricants are essential, and the fundamental characteristics of the vehicle depend on it. Such characteristics are fuel efficiency, emissions, smooth running of engine and performance.
The lubricant’s primary task is to properly lubricate all the running parts and components of the engine which are always exposed to a high level of temperatures. Such pieces tend to wear and tear. However, with the engine oil helps in appropriate lubrication of parts. All most all the industries and vehicles need such lubricant.
The growing number of industries and vehicles has dramatically affected the growth of the Global Automotive Lubricants Market. It is now rising rapidly. In the year 2018, the market value was USD xx million. Looking at the current scenario, it is expected that the value will reach $ xx million by the end of 2025. On the other hand, the CAGR will be xx % from 2018 to 2025.
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Segmentation of Global Automotive lubricants or engine oil Market
The World Automotive Lubricants Market has been segmented by Type, Base Oil, Target Audiences and Region.
Under the Type, the lubricant market has split into Brake fluids, Engine oil, transmission fluids, Gear oil, and others, such as Grease and Coolants.
Coming to the segmentation by Base Oil, this includes Synthetic oil, Mineral oil and other, for example, Bio-based oils, Part synthetic oils, and Biobased oils.
Considering the target audiences, the global market has segmented into Product suppliers or buyers, Industry investors or investment bankers, Raw material suppliers and buyers, Research professionals, Education, and research institutes, Manufacturers and other emerging companies.
Geographical Market Segmentation
The geographical segmentation of Global Automotive Lubricants Market includes United States, Canada, Mexico, North America, Asia Pacific, India, China, Japan, Australia, South Korea, Singapore, Indonesia, Europe, Germany, France, UK, Rest of Asia-Pacific, Spain, Italy, Rest of Europe, Russia, Brazil, Central and South America.
Some other important regions or countries are Argentina, Rest of Europe, the Middle East, and Africa, Rest of South America, Turkey, Saudi Arabia and Rest of the Middle East and Africa.
It has been estimated that North America will dominate the global market as the region has witnessed a massive growth in the automotive industry. Besides, the number of vehicles is also increasing every year in this region. After North America, there is Europe and South America.
Key Players of Global Automotive lubricants Market =>
The top market players in this market are Idemitsu Kosan Company Ltd, Chevron Corp, Amsoil Inc., ExxonMobil, Petroliam Nasional Bhd, British Petroleum, Lukoil, Royal Dutch Shell, Fuchs Group, Sinopec, Valvoline, Total SA, and Petronas Lubricant International Sdn Bhd.
A leading supplier of high-quality lubricants and automotive services globally, Valvoline, in September 2019 announced its franchisee, Metrolubehas acquired a quick-lube location which now operates as VIOC – Valvoline Instant Oil ChangeSMservice center in Oklahoma’s Shawnee. The company is trying to boost the growth of the industry-leading quick-lube model, which is designed to offer a quick and reliable experience to all the customers. Metrolube operates one of the 11 VIOC quick-lube locations.
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