The report is a comprehensive presentation of trends, forecast and dollar values of global automotive lubricants market. According to report the global automotive lubricants market is projected to grow at a CAGR of 4.8% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 10/29/2018 -- We have produced a new premium report Automotive Lubricants Market. The report covers the analysis of global as well as regional markets of Automotive Lubricants. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Automotive Lubricants Market by base oil (mineral oil, bio-based fluid and synthetic oil), product (engine oil, gear oil, transmission fluids, brake fluids, greases and coolants), vehicle type (passenger car (PC), light-weight commercial vehicle (LCV) and heavy-weight commercial vehicle (HCV)) and end user (original equipment manufacturer (OEM) and aftermarket) through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Automotive Lubricants Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Automotive Lubricants Market are ExxonMobil, Royal Dutch Shell, Sinopec Corporation, BP plc, Total S.A, Chevron Corporation, LUKOIL Oil Company and Fuchs Lubricants.
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Growing demand of automotive products to promote growth in the automotive lubricants market
Automotive lubricants is the material or substance that reduces the friction between the two surface components. Lubricants are widely used to inhibit corrosion, wear & tear and reduce friction in engines. In the case of lubricant, the property of reducing friction is called as lubricity.
The automotive production is rapidly growing over the globe particularly in Asia-pacific due to increasing number of vehicle ownership. The increasing automotive sales and growing demand of automotive products are the primary factors driving the growth of automotive lubricants market worldwide. In addition, rapid development of transportation infrastructure in various countries is facilitating growth in this market. However, fluctuation in the crude oil raw material prices is likely to hamper the market growth.
The market is facing the fluctuations in crude oil prices, so manufacturers are focusing on the development of new and innovative refining sources & technologies. Now-a-days, increasing demand of alternative raw material for lubricants manufacturing as bio–based materials including plant oils, hydrogenated polyolefin, fluorocarbons and others are projected to create the more opportunities for the automotive lubricants market.
Asia Pacific region to contribute to growth in the global automotive lubricants market
According to the geography, the Asia-Pacific is the largest and the fastest growing region in the automotive lubricants market, followed by Europe and North America. The growth in Asia-pacific region is mainly attributed, owing to the increasing number of light passenger vehicles and commercial vehicles coupled with rising disposable income. In addition, growth in number of vehicle manufacturing facilities owing to, presence of huge population base and low cost of production of automobiles in these countries is likely to boost the automotive lubricant market over the forecast period.
Organic and inorganic growth strategies to remain key strategies of the leading players
The Chevron Corporation, Royal Dutch Shell and Exxon Mobil Corp., Sinopec Corporation, BP plc, Total S.A and Fuchs Lubricants are the some important players in this market.
Various players in the automotive lubricants market are focusing on the Mergers and Acquisitions to improve their profit margins.
ExxonMobil completed the deal to acquire Indonesian firm FKT in June 2018, In addition, Valvoline Inc., a leading worldwide supplier of premium branded lubricants and automotive services announced that it has opened a new company-owned Valvoline Instant Oil ChangeSM (VIOC) service center in the Houston market in 2018.
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The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global automotive lubricants market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive lubricants market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive lubricants market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the automotive lubricants market to understand the present and future trends in this market and formulate their strategies accordingly.