The global automotive
lubricants 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.
Browse full research report on Automotive Lubricants Market: https://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
Browse more reports of this category
by Grand View Research: 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
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
- Saudi Arabia
- UAE
- South Africa
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.
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