Automotive Lubricants Market Opportunity Analysis and Recent Developments by 2025 | Meticulous Research
The global automotive lubricants market study presents historical market data in terms of values and volume (2017 and 2018), estimated current data (2019), and forecasts for 2025 - by product (engine oil, transmission & hydraulic fluid, gear oil, grease, process oil), vehicle (passenger cars, light weight commercial vehicle, two/three-wheeler), type (mineral, synthetic, semi-synthetic), sales channel (aftermarket, OEMs), and geography. the study also evaluates industry competitors and analyzes the market at regional and country level.
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Based on product, the engine oil segment is estimated to account for the largest share of the overall automotive lubricants market in 2019. The large share of this segment is mainly attributed to the growing production of vehicles across the globe, rising consumer awareness regarding the use of oil, and huge demand from automobile aftermarket segment.
Based on vehicle type, the passenger cars segment is estimated to account for the largest share of the overall automotive lubricants market in 2019. However, light-weight commercial vehicles market is projected to grow at the fastest CAGR during the analysis period due to growing need for transportation of people, goods and services; growing penetration of light-weight commercial vehicle in rural and semi-urban areas; and stringent government regulations related to CO2 emission.
Based on type, the mineral oil lubricants segment is estimated to account for the largest share of the overall automotive lubricants market in 2019, mainly attributed to its low cost than other types of lubricants. However, synthetic lubricants segment is projected to grow at the fastest CAGR during the analysis period due to growing adoption of high-performance and advanced engines, their ability to provide high quality lubrication than other lubricant types, growing need for better fuel economy, and changes in the legislation to reduce vehicle emissions.
Based on sales channel, aftermarket segment accounted for the largest share of the overall automotive lubricants market in 2019 and is projected to grow at the fastest CAGR during the analysis period. The large share of this segment is mainly attributed to the increasing need for car ownership, especially in emerging economies; growing urbanization; and rising consumer awareness regarding the use of lubricants to maintain vehicle efficiency and achieve better fuel economy.
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This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, Russia, Italy, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Philippines, and RoAPAC), Latin America, Middle East, and Africa (Egypt, South Africa, Algeria, Nigeria, Morocco, and Rest of Africa). Asia-Pacific region is estimated to command the largest share of the global automotive lubricants market in 2019, followed by North America and Europe. In addition, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Growth in this market is expected to be driven by growing economy; increasing urbanization and disposable income; rapid growth in the automotive industry; growing transportation industry; stringent regulations on CO2 emissions; and strong support from the government to promote automotive industry. Moreover, the increasing presence of the key lubricants as well as auto manufacturers in the region further supports the growth of automotive lubricants market in the region.
The key players operating in the global automotive lubricants market are Shell International B.V., Exxon Mobil Corporation, FUCHS PETROLUB SE, Motul, Phillips 66 Company, Repsol S.A., SK lubricants Co., Ltd., China National Petroleum Corporation, Klüber Lubrication München SE & Co. KG, Amsoil Inc., Petróleo Brasileiro S.A., Valvoline, Inc., JXTG Nippon Oil & Energy Corporation, Chevron Corporation, and BP P.L.C. (CASTROL).
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Key questions answered in the report:
- Which are the high growth market segments in terms of product, vehicle, type, sales channel, and region/countries?
- What was the historical market for automotive lubricants across the globe?
- What are the market forecasts and estimates for the period 2019–2025?
- What are the major drivers, restraints, and opportunitiesin the global automotive lubricants market?
- Who are the major players in the global automotive lubricants market?
- How is the competitive landscape and who are the market leaders in the global automotive lubricants market?
- What are the recent developments in the global automotive lubricants market?
- What are the different strategies adopted by the major players in the global automotive lubricants market?
- What are the geographical trends and high growth regions/countries?
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