Automotive Lubricants Market 2016 Analysis, Share, Trend, Segmentation and Forecast Till 2028 | Key Players- Shell, ExxonMobil, TOTAL, Chevron, FUCHS, Valvoline, Idemitsu Kosan, Lukoil.

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Automotive Lubricants Market.

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According to the report, automotive lubricant market growth is expected to gain high momentum during the forecast period due to complex engine and transmission system designs. High-performance lubricants are becoming increasingly important drivers of the industry studied. On the other hand, it is anticipated that longer drain periods and the marginal effect of electric vehicles (EVs) would impede the market growth.

Increasing complex designs for automobile engines, transmission systems, contribute to the need for more sophisticated lubricants to be operated under extreme conditions. Recycling is also another important factor that influences the growth of the automotive lubricants industry.

Within a few years, the automotive sector has seen a rebound. In addition, lubricants form the main constituents of consumables in the automotive aftermarket. In particular, automotive lubricants have extended the average life of cars to 11 years.

With an emphasis on both organic and inorganic growth strategies, there have been several primary developments done by major companies like Valvoline, Shell, ExxonMobil, TOTAL, Chevron, FUCHS, Idemitsu Kosan, Lukoil, JX Group, and BP Castrol.
Segmentation for better understanding of this market and its growth prospects:
Engine oil dominated the market during the forecast period, based on application.

These are usually used for applications such as wear reduction, protection against corrosion and smooth internal engine operation. They work by creating a thin film between the moving parts to facilitate heat transfer and minimize friction when the parts are in contact.

Over the years the average age of automobiles has risen at a constant rate. In terms of the refill market, this aspect offers an opportunity. The increasing average age of passenger cars and the growing urban population in developing countries are the factors that are expected to drive the engine oil market.

Technological advances bring a challenge to the growth of the engine oil segment in terms of volume consumption, due to the increased engine oil change intervals. This trend is expected to continue increasing the use of the studied market during the forecast period.

This report provides:
1) An overview of the Global Automotive Lubricants Market globally and related technologies.
2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).
3) Identification of new market opportunities and targeted promotional plans for Global Automotive Lubricants Market
4) Discussion of R&D and demand for new products and new applications
5) Comprehensive company profiles of key industry players.
The researchers have studied the market in-depth and have come up with major segments like product type, application, and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.
Regional segmentation and analysis to understand growth patterns:
The market has been segmented in major regions to understand the global development and demand patterns of this market.

Asia-Pacific dominated the market, followed by North America and Europe worldwide with, among others, the highest demand from countries like China, India, the United States, and Russia. In addition, the Government is concentrating on replacing obsolete vehicles, increasing demand for better and high-performance lubricants. Whereas India is the region's second-largest lubricant market, and the world's third-largest.

The Japanese automotive industry has seen slow growth from the past two years, primarily due to the drastic drop in motor vehicle sales and manufacturing. During the forecast period, the global market for car lubricants is projected to be dominated by the Asia-Pacific region. With several global manufacturers headquartered in this area, North America and Western Europe were traditional markets for the automotive sector. In these regions, the automobile sector has been dynamic in terms of technological developments and product changes.

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Key Factors Impacting Market Growth:
o Complex engine and transmission system designs
o Stringent norms on carbon emissions
o Investments in R&D activities
o Increasing consumer awareness and affordability
o Increasing adoption of electric vehicles may restrain the market growth

Market Segmentation:

By Base Oil:
Mineral Oil Lubricants
Bio-Based Lubricants
Synthetic Lubricants
Semi-synthetic Lubricants

By Vehicle Type:
Light Commercial Vehicles (LCVs)
Heavy Commercial Vehicles (HCVs)
Passenger Cars
Other Motor Vehicles

By Application:
Transmission Fluids (Manual/Automatic)
Engine Oil
Gear & Brake Oil
Coolants
Greases
Others

By Region:
North America
By Country (US, Canada, Mexico, Rest of North America)
By Base Oil
By Vehicle Type
By Application

Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Base Oil
By Vehicle Type
By Application

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Base Oil
By Vehicle Type
By Application

Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Base Oil
By Vehicle Type
By Application

Rest of the World
By Region (South America, Africa)
By Base Oil
By Vehicle Type
By Application

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This release was published on openPR.