The global automotivelubricants market is expected to reach USD 87.1 billion
by 2025, according to a new report by Grand View Research, Inc. High engine oil
demand in passenger cars, diesel trucks, and light-duty trucks is expected to
drive global automotive lubricants industry growth over the forecast
period.
Rise in middle class, urbanization, and
growing disposable income in developing countries have led to greater passenger
car sales. On a parallel level, economic growth in these regions has promoted
trade, leading to the growth of transportation sector. These factors combined
have led to increased lubricants consumption.
Engine oil segment is the largest
contributor to automotive lubricants market which was around USD 34 billion in
2016. Engine oil is widely used in passenger cars, diesel trucks, and
light-duty trucks. They help to maintain the viscosity, ensure dependability
and reduce engine wear. Increasing drain intervals and formulation of high
performance oils to impact their consumption, thereby growth.
Full research report on automotive lubricants market
analysis: http://www.grandviewresearch.com/industry-analysis/automotive-lubricants-market
Further key findings from the report suggest:
·
The global automotive lubricants market
size was worth USD 57.2 billion in 2014 and is expected to grow at a CAGR of
3.7% from 2017 to 2025
·
Brake fluids accounted for over 12% of the
overall volume in 2016, with the segment expected to be the fastest growing
from 2017 to 2025
·
Bio-based lubricants are gaining acceptance
due to their bio-based origin coupled with stable raw material prices and
availability. Favorable government regulations for the usage of bio-based
materials are further expected to influence the global industry growth
positively
·
Asia Pacific is the largest consumer with
the region characterized by high passenger car sales and a rapidly developing
aftermarket. The region is expected to grow at a CAGR of 3.5% from 2017 to 2025
·
The U.S. is a highly matured region for the
industry with its dynamics influenced by high level of product innovation,
concentration of global majors, and a well-established regulatory framework
·
Grease is projected to register the highest
price growth whereas coolants will witness slowest price growth during the
forecast period. Availability of advanced coolants and standard production
process are helping the prices to be maintained through the forecast
period
·
Major industry participants include
ExxonMobil, Royal Dutch Shell, Total SA and British Petroleum among others
View more reports
of this category by Grand View Research at: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the global automotive lubricants
market on the basis of product and region:
Product Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
·
Engine Oil
·
Gear Oil
·
Transmission Fluids
·
Brake Fluids
·
Coolants
·
Greases
Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
o
Russia
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
Saudi Arabia
o
UAE
o
South Africa
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-automotive-lubricants-market
https://www.grandviewresearch.com/press-release/global-automotive-lubricants-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
