A recent report published by Infinium Global Research on automotive lubricants market provides in-depth analysis of segments and sub-segments in global as well as regional automotive lubricants market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive lubricants market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive lubricants market. According to the report the global automotive lubricants market is projected to grow at a CAGR of 4.8% over the forecast period of 2018-2024.
Automotive lubricants are the material or substance that reduces the friction between the two surface components. Lubricants are widely used to inhibit corrosion, wear & tear and reduce friction in engines. In the case of lubricant, the property of reducing friction is called as lubricity.
The automotive production is rapidly growing over the globe particularly in Asia-Pacific due to the increasing number of vehicle ownership. The increasing automotive sales and growing demand for automotive products are the primary factors driving the growth of automotive lubricants market worldwide. In addition, the rapid development of transportation infrastructure in various countries is facilitating growth in this market. However, fluctuation in the crude oil raw material prices is likely to hamper the market growth.
The market is facing the fluctuations in crude oil prices, so manufacturers are focusing on the development of new and innovative refining sources & technologies. Nowadays, increasing demand for alternative raw material for lubricants manufacturing as bio-based materials including plant oils, hydrogenated polyolefin, fluorocarbons, and others are projected to create more opportunities for the automotive lubricants market.
According to geography, the Asia-Pacific is the largest and the fastest growing region in the automotive lubricants market, followed by Europe and North America. The growth in the Asia-Pacific region is mainly attributed, owing to the increasing number of light passenger vehicles and commercial vehicles coupled with rising disposable income. In addition, growth in a number of vehicle manufacturing facilities owing to, the presence of huge population base and low cost of production of automobiles in these countries are likely to boost the automotive lubricant market over the forecast period.
The various players in the automotive lubricants market are increasing their investments in the Research and development activity. The Chevron Corporation, Royal Dutch Shell and Exxon Mobil Corp. are some of the major players in the automotive lubricants market. Sinopec Corporation, BP plc, Total S.A, and Fuchs Lubricants are also important players in this market.
The report on global automotive lubricants market covers segments such as base oil, product, vehicle type, and end user. On the basis of base oil, the global automotive lubricants market is categorized into mineral oil, bio-based fluid, and synthetic oil. On the basis of product, the global automotive lubricants market is categorized into the engine oil, gear oil, transmission fluids, brake fluids, greases, and coolants. On the basis of vehicle type, the global automotive lubricants market is categorized into a passenger car (PC), light-weight commercial vehicle (LCV) and heavy-weight commercial vehicle (HCV). On the basis of the end user the global automotive lubricants market is categorized into an original equipment manufacturer (OEM) and aftermarket.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global automotive lubricants market such as ExxonMobil, Royal Dutch Shell, Sinopec Corporation, BP plc, Total S.A, Chevron Corporation, LUKOIL Oil Company, and Fuchs Lubricants.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive lubricants market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive lubricants market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive lubricants market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the automotive lubricants market to understand the present and future trends in this market and formulate their strategies accordingly.
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