Indian Oil Corporation: Automotive Lubricants Market Brief Analysis By Top Key Players - Arabol Lubricants, Total Oil, BP, Phillips 66 Lubricants, Bel-Ray Company LLC., Amsoil (Wisconsin), Bharat Petroleum, Morris Lubricants

Polaris Market Research’s new report indicates that the global automotive lubricants market generated USD 52.14 billion in 2017 and is anticipated to grow at a CAGR of 4.2% over the forecast period.

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The surge in demand for multifunctional and optimally prices lubes from the automobile manufacturers is expected to drive the market over the next decade. Increasing manufacturing of automobiles along with other farm vehicles in the past three years have created a significant surge in demand for these products.

The global lube sector is characterized by innovation, premiumisation and brand building, that aids pricing power and gains in market share. Several new products have been introduced in the market based on various largely homogenous specifications such as viscosity, even though branding helps to enhance customer preference. Moreover, customers especially in the developed nations have been value chasers seeking better economics such as pricing, long drain, distribution reach etc. These advantages associated with the dip in crude oil prices have helped in decrease in product prices which have in turned influenced the sales of these products.

In the automobile industry, the consumers have been migrating for enhanced quality vehicles and the increase in demand for the four stroke motorbikes. Manufacturers of these products with significant tie ups with the OEMs that use lubricants of higher grade quality, offering multi-grade lubricants with powerful brand recognition and wide range of distribution networks are expected to gain higher market share in the competitive industry space over the forecast period. Increased car and motorcycle stock, increase in agricultural machinery driven lubes consumption have been the primary factors to drive the market.

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The industry is further reshaping in terms of marketing strategies, which at present calls for a wide distribution network and a brand image propositions in the emerging economies such as India, Poland, Vietnam, Indonesia and several others in Asian region. The market participants focus on development of consumer centric novel products and undertake several measures to highly optimize their distribution channels in an effort to gain higher market share.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive Lubricants Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

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Competitive Landscape and Key Vendors

Asia Pacific regional market is projected to be the largest consumer of automotive lubricants in terms of volume and revenue both. The shift in the automobile manufacturing industry from the west to the Asia Pacific region has been the primary factor for driving its regional market. However, the business to consumer sales market in many countries in the region is yet to attain its full potential and organized. The North American market has also been a significant contributor to the global demand of these products. Increasing automobile manufacturing in Mexico has been one of the primary factors driving the regional industry.

The few of the leading leading industry participants currently operating in a worldwide scale include Arabol Lubricants, Total Oil, BP, Indian Oil Corporation, Phillips 66 Lubricants, Bel-Ray Company LLC., Amsoil (Wisconsin), Bharat Petroleum, Morris Lubricants, Ultrachem Inc , Penrite Oil, Valvoline , Rock Valley Oil and Chemical Co., Peak Lubricants Pty Ltd , Lubrizol, Liqui Moly, Eni S.P.A. and Emulsichem Lubricants Pvt. Ltd.

Key Segments

Product Type

• Transmission & Hydraulic Fluids
• Engine Oil
• Gear Oil
• Compressor Oil
• Brake Fluids
• Greases
• Coolants

Region

• North America

o U.S.
o Canada

• Europe

o Germany
o UK
o France

• Asia-Pacific

o China
o India
o Japan

• Latin America

o Brazil
o Mexico

• Middle East and Africa

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