Automotive Lubricants Market Size to Expand Significantly by the End of 2023 | Global Key Vendors – Amsoil, Bharat Petroleum, Chevron, China National Petroleum, Exxon Mobil, Fuchs Petrolub SE

Marketprognosis.com Publish a New Market Research Report On “Global Automotive Lubricants Market 2018 - 2023” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Automotive Lubricants Market:

The Global Automotive Lubricants Market was expected to be 38,687.66 kilotons in 2017. Asia-Pacific is to lead the market with a larger share of the global market owing to the increasing automotive sales in the region.

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In the Asia-Pacific region, China is the largest producer of automotive, with more than 28 million automobiles (passenger and commercial vehicles combined) produced in the year 2016. Used car sales have also grown significantly in China. In India, the automotive industry has been growing at a higher pace, with the passenger vehicles exhibiting the highest growth of 7.9% in 2016 with more than 4.48 million units of vehicles produced in the country. It is expected that India will be a major passenger vehicle market and surpass countries, like Germany. The rising sales and production of automobiles in major developing regions, such as India, China, and Indonesia are expected to contribute to the growth of the automotive lubricants market.

Engine oils are used to reduce the metal-to-metal contact inside the engine to minimize friction and reduce damage, as automotive engines are more prone to wear and deform in the moving parts. These oils also remove the small particles, dirt, and other impurities present in the fuel.

North America is the largest market for engine oil lubricants owing to a large number of automotive vehicles in the region. Asia-Pacific countries, such as China, India, Thailand, Indonesia, the Philippines, and Malaysia are emerging as global automotive hubs, which are expected to drive the regional demand at the fastest pace in the global market.

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The Chinese auto lubricants market was estimated to be worth USD 3 billion, for a volume of around 10 million metric tons. China dominates the global market, in terms of consumption and production of automobiles and auto refinishes. Increasing urbanization and supporting governmental policies are anticipated to boost the demand for automobiles in the country. Other countries, such as India and Japan, are also expected to experience significant growth.

Major Key Players:

1 Amsoil Inc.

2 Bharat Petroleum Corp. Ltd

3 BP PLC

4 Chevron Corp.

5 China National Petroleum Corporation

6 China Petrochemical Corp. (SINOPEC Group)

7 Exxon Mobil Corp.

8 Fuchs Petrolub SE

9 Gazpromneft - Lubricants, Ltd

10 Gulf Oil Lubricants India Ltd and More…………

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This study answers to the below key questions:

1 What will the market size be in 2023 and what will the growth rate be?

2 What are the key market trends?

3 What is driving this market?

4 What are the challenges to market growth?

5 Who are the key vendors in this market space?

6 What are the market opportunities and threats faced by the key vendors?

7 What are the strengths and weaknesses of the key vendors?

In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Automotive Lubricants Market.

Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Key Inferences

5 Market Overview

6 Drivers, Restraints, Opportunities and Challenges Analysis (Droc)

7 Market Segmentation

8 Competitive Landscape

9 Key Players

10 Future Outlook of the Market

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This release was published on openPR.