The Automotive Lubricants Market report discusses the primary market growth drivers and challenges that
the vendors and the market as a whole face and provides an overview of the key
trends emerging in the market. It also talks about the market size of different
segments and their growth aspects along with key leading countries in Americas,
Asia-Pacific, Europe, the Middle East, and Africa regions.
Market
Tidbits:
The global Automotive Lubricants
Market size was projected at US$ 57.2 billion in 2014. It is expected to
reach US$ 87.1 billion by 2025 with a CAGR of 3.7% during the forecast period.
This could be attributed to increase in the number of vehicles on road. The
usage of vehicles, in turn, gets boosted by high dependence on private
transport and growing affordability of consumers. Use of lubricants has
increased the vehicles’ age to 11 years.
OEMs do recommend
using quality lubricants like semi-synthetic/synthetic oil due to the fat that
they make way for better lubrication as compare to mineral oil. This is another
factor bolstering the automotive lubricants market. Besides, government bodies
are into establishment of performance standards with respect to lubricants for
controlling the ever-increasing emissions.
Download Free Sample Report Now @ https://www.millioninsights.com/industry-reports/automotive-lubricants-market/request-sample
Some of the
major objectives of this report:
1. To provide
detailed analysis of the market structure along with forecast of the various
segments and sub-segments of the global Automotive Lubricants Market.
2. To provide
insights about factors affecting the market growth. To analyze the Automotive
Lubricants Market based on various factors- price analysis, supply chain
analysis, porter five force analysis etc.
3. To provide
historical and forecast revenue of the Automotive Lubricants Market segments
and sub-segments with respect to four main geographies and their countries-
North America, Europe, Asia, and Rest of the World.
4. Country
level analysis of the market with respect to the current market size and future
prospective.
5. To provide
country level analysis of the market for segment by application, product type
and sub-segments.
6. To provide
strategic profiling of key players in the market, comprehensively analyzing
their core competencies, and drawing a competitive landscape for the market.
7. Track and
analyze competitive developments such as joint ventures, strategic alliances,
mergers and acquisitions, new product developments, and research and
developments in the global Automotive Lubricants Market.
Restraints:
Increasing
sales on the part of electric vehicles are expected to put a check on usage of
automotive lubricants. Battery-driven electric vehicles do eliminate
requirement of engine oil as IC engine is not present therein. Plus, electric
vehicles are subject to lesser number of reciprocating parts.
Market
Segmentation:
The automotive
lubricants industry is segmented on the basis of base oil, product type, and
geography. By type of product, the segmentation goes like bio-based oil,
semi-synthetic/synthetic oil, and mineral oil. Semi-synthetic/synthetic oil
holds the largest market share; thanks to its splendid performance. By base
oil, the market spans manual transmission fluid, automatic transmission fluid,
and engine oil. By geography, the market constitutes North America, LATAM, Asia
Pacific, Europe, and MEA.
Asia Pacific
is expected to witness the fastest growth due to increase in consumption of
vehicles in economies like India. LATAM is fast catching up due to Brazil
witnessing tremendous growth in sales of heavy and light vehicles.
The players
contributing to the automotive lubricants market include Chevron Corporation,
Sinopec Corporation, ExxonMobil Corporation, Royal Dutch Shell plc, LUKOIL,
Valvoline LLC, JKTG Nippon Oil & Energy Corporation, Indian Oil Corporation
Limited, Morris Lubricants, Petrobras, Bharat Petroleum Corporation Limited,
and Total S.A.
Know
More Insights @ https://newsonmarketblog.wordpress.com
No comments:
Post a Comment