Global Automotive Lubricants Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Lubricant is a substance used to reduce the friction between the two surfaces in mutual contact. In addition to this, it also reduces the heat generated between the contacting surfaces. Automotive lubricants reduce the friction between two machine parts such as piston rings and cylinder walls. Lubricants with different types of oil bases are used in automotive applications which include mineral oil, synthetic oil, semisynthetic oil, and bio-based lubricants. Additives are added in these base oils in order to improve the properties of the blended lubricant mixture. Use of the lubricating oil in the automotive provides reduction of friction, provides protection against corrosion and oxidation, prevent the sludge build-up in the internal surfaces, and increases the performance and life of the engine. These lubricants are used in all types of vehicles including passenger cars, light commercial vehicles, and heavy commercial vehicles. With the growing automotive sector demand of the automotive lubricant is also expected to grow rapidly. The market accounted 81454.39 USD million in 2020, and is expected to reach 126496.176 USD million by 2030, with a CAGR 4.5% during the forecast period.
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Market Dynamics and Factors:
The necessity of lubricating oil in the automotive system to prevent overheating and friction between various parts is one of the major driving factors of the market. In addition to this, it also improves the life of the moving parts of the engine which are very expensive. Hence further increases the use of the lubricant. Growing automotive sector across the world. Combined with the increasing disposable income among the populace are the factors which further boosts the market within the upcoming years. However, Growing demand for electric vehicles could hinder the growth of the market. Advancement in lubricants will create new opportunities in the future.
Market Segmentation:
Global Automotive Lubricants Market – By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Others
Global Automotive Lubricants Market – By Base Oil
Mineral Oil
Synthetic
Semisynthetic
Bio-Based Lubricants
Global Automotive Lubricants Market – By Application
Engine Oil
Gear & Brake Oil
Transmission Fluids
Global Automotive Lubricants Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Asia Pacific has dominated the market and expected to continue its supremacy during the upcoming years. Asian automotive market is growing rapidly and developed lifestyle which leads to increased disposable income all these factors support the growth of the market. Europe and North America are also expected to grow with significant growth with the advancement in automotive technology. An increase in disposable income and a growing demand for the luxurious and premium vehicles during the years to come the Middle East and Africa will also grow with the growing popularity of the popularity of high-end premium vehicles within the populace.
Competitive Scenario:
Key players in the automotive lubricant market include Chevron Corporation, Oryx Energies, KMG Chemicals, KenolKobil, Pennzoil-Quaker State, Equilon, Oil Libya, Sinopec, Burmah Castrol, Lukoil, and Idemitsu.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Automotive Lubricants industry, although key threats, opportunities and disruptive technologies that could shape the Global Automotive Lubricants Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Automotive Lubricants Market most.
The data analysis present in the Global Automotive Lubricants Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Automotive Lubricants Market business.
The 2021 Annual Global Automotive Lubricants Market offers:
100+ charts exploring and analysing the Global Automotive Lubricants Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Automotive Lubricants Market type
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