Major Advancements of Automotive Lubricants Aftermarket Market in Global Industry: Market Key Trends, Challenges and Opportunities 2017-2026

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Automotive Lubricants Aftermarket : Overview
Automotive Lubricant is a substance made of base oil, which is derived from crude oil, and additive package. The base oil used in lubricant formulations is of mineral, synthetic, and semi-synthetic in nature and significantly determines the properties of finished lubricants. Additives are added to the base oil to impart various properties and improve its performance. Lubricant additives are inorganic and organic compounds that are dissolved or suspended as solids in lubricants or base oils. The aftermarket for automotive lubricants deals with lubricants required or consumed by an automotive vehicle after its purchase over its lifespan. Lubricants are used for their ability to increase the operating lifespan of mechanical parts. They can also eliminate any residue deposited over mechanical parts.

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Almost all the lubricant manufacturers derive a significant portion of their revenue from the aftermarket. Emerging environmental regulations make the players in this industry more proactive as they have to produce lubricants that reduce friction while containing emissions. Original equipment manufacturers mention specifications and requirements regarding lubricants they plan to use in engines. Lubricant manufacturers provide them with products that meet these specifications. The automotive lubricants aftermarket is expected to be be propelled by the rising demand for engine oils, which have to be changed at frequent time intervals.

Increasing need for car ownership across the population of emerging economies is one of the factors anticipated to drive demand for aftermarket automotive lubricants. Consumers in developed and developing regions have different mobility needs. Continued urbanization is likely to lead them toward car ownership. Moreover, rise in awareness about benefits of timely oil changes to maintain vehicle efficiency and achieve better fuel economy and increasing emphasis by automakers on engine downsizing to meet vehicular emission norms are some of the factors that mandate the use of high- performance lubricants and are expected to drive demand for them during the forecast period. Furthermore, rise in world vehicle fleet and increasing motorization rate particularly in Asia, Latin America, and Middle East & Africa are further expected to create incremental opportunity for automotive lubricants in aftermarket.

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This report analyzes and forecasts the market for aftermarket automotive lubricants at the global and regional level. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2017 to 2026, considering 2016 as the base year. The study includes drivers and restraints of the global automotive lubricants aftermarket. It also covers impact of these drivers and restraints on demand for aftermarket automotive lubricants during the forecast period. The report also highlights opportunities in the automotive lubricants aftermarket at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global automotive lubricants aftermarket. Porter’s Five Forces model for the automotive lubricants aftermarket has also been included to help understand the market from the perspective of various stakeholders involved in the value chain. The study encompasses market attractiveness analysis, where in types and application are benchmarked based on their market size, growth rate, and general attractiveness.

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The study provides a decisive view of the global automotive lubricants aftermarket by segmenting it in terms of type and application. In terms of type, the automotive lubricants aftermarket can be classified into engine oil, gear oil, transmission fluid, and others. In terms of application, it can be segmented into passenger cars and commercial vehicles. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for aftermarket automotive lubricants in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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