Automotive Lubricants Market Poised to grow at a CAGR of 4.8%% by 2024
Infinium Global Research has added a new report on Automotive
Lubricants Market. The report presents analysis of global as well as
regional markets of automotive lubricants market over the period of 2016 to
Automotive lubricants is 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 increasing number of vehicle ownership. The
increasing automotive sales and growing demand of automotive products are the
primary factors driving the growth of automotive lubricants market worldwide.
In addition, 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. Now-a-days, increasing demand of alternative raw
material for lubricants manufacturing as bio–based materials including plant
oils, hydrogenated polyolefin, fluorocarbons and others are projected to create
the more opportunities for the automotive lubricants market.
According to the 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 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 number of vehicle manufacturing facilities owing to, presence of huge
population base and low cost of production of automobiles in these countries is
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.
Moreover, the growth matrix presented by Infinium Global
Research identifies the key investment markets in the near future, this will
not only help the companies to understand the competitive position in the
global automotive lubricants market but also make strategic decisions to
capture the most lucrative markets in the near future.
The market size is presented in terms of value for the historic
year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that Asia Pacific dominated the
global automotive lubricants market over the last couple of years, while
emerging markets of Asia-Pacific and Latin America are anticipated to
contribute significantly to the growth in the automotive lubricants market
The report segments the global automotive lubricants market on
the basis of Base oil, Product, Vehicle type and end user.
Global Automotive Lubricants Market by Base Oil
Global Automotive Lubricants Market by Product
Global Automotive Lubricants Market by Vehicle
Passenger Car (PC)
Light-weight Commercial Vehicle (LCV)
Heavy-weight Commercial Vehicle (HCV)
Global Automotive Lubricants Market by End User
Original Equipment Manufacturer (OEM)
Companies Profiled in the Report
Royal Dutch Shell
LUKOIL Oil Company
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