Press release
Automotive lubricants market will increase at a CAGR of 7.3% from 2019 to 2025 to reach $53.43 billion by 2025.
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With the strong demand for automotive lubricants, the companies are gearing up to tap the market opportunity by expanding geographically and adding innovative products in their product portfolio. The incorporation of advanced engine technologies and growing consumer awareness of the performance advantages of synthetic lubricants expected to drive the growth of the automotive lubricants market. Further, the development of new engine technology demands to have more power with smaller fuel-efficient engines and the strict legislation to reduce vehicle emissions are the major factors behind the changes in the lubricant technology. As a result, the demand for thinner and more premium automotive lubricant is increasing across the globe.
To provide efficient analysis, Meticulous Research has segmented this market on the basis of product (engine oil, transmission & hydraulic fluid, gear oil, grease, process oil, and other), vehicle type (passenger cars, light weight commercial vehicle, heavy weight commercial vehicle, and two/three-wheelers), type (mineral oil lubricants, synthetic oil lubricants, semi-synthetic lubricants, and others), sales channel (original equipment manufacturers (OEMs) and aftermarket), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
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In terms of lubricant type, synthetic lubricants segment expected to register the fastest growth in the automotive lubricants market. The fast growth of this segment is mainly attributed to increasing demand for better fuel economy and more durable driveline lubricants, such as those used in gearing, manual transmissions, semiautomatic transmissions, and automatic transmissions. Further, the huge demand from original equipment manufacturers (OEMs), ample base stock supply, growing adoption of high-performance and advanced engines, changes in the legislation to reduce vehicle emissions, and consumer preferences are powering the demand for synthetic oil lubricants.
Geographically, Asia-Pacific is expected to command the largest share of automotive lubricants market, followed by North America and Europe, in 2019. The major share of Asia-Pacific is mainly attributed to the accelerated economic growth of many countries in this region; increasing urbanization and disposable income; rapid growth in the automotive industry; growing transportation industry; stringent regulations on CO2 emissions; and strong support from the government to promote automotive industry. In addition, increasing presence of the key lubricants as well as auto manufacturers in the region further supports the growth of automotive lubricants market in the region.
BUY Report spread across 257 pages comprising in-depth TOC, 276 tables and 46 figues, published in Sep 2019 @ https://www.meticulousresearch.com/buy_now.php?pformat=337&vformat=997
Asia-Pacific: The Largest and fastest growing market
Asia-Pacific region is estimated to command the largest share of the global automotive lubricants market in 2019, followed by North America and Europe, due to accelerated economic growth of many countries in this region; increasing urbanization and disposable income; rapid growth in the automotive industry; growing transportation industry; stringent regulations on CO2 emissions; and strong support from the government to promote automotive industry. In addition, increasing presence of the key lubricants as well as auto manufacturers in the region further supports the growth of automotive lubricants market in the region.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Shell International B.V., Exxon Mobil Corporation, FUCHS PETROLUB SE, Motul, Phillips 66 Company, Repsol S.A., SK lubricants Co., Ltd., China National Petroleum Corporation, Kl?ber Lubrication M?nchen SE & Co. KG, Amsoil Inc., Petr?leo Brasileiro S.A., Valvoline, Inc., JXTG Nippon Oil & Energy Corporation, Chevron Corporation, and BP P.L.C. (CASTROL).
TOP 10 COMPANIES IN AUTOMOTIVE LUBRICANTS MARKET @ https://meticulousblog.org/top-10-companies-in-automotive-lubricants-market/
Key questions answered in the report-
Which are the high growth market segments in terms of product, vehicle, type, sales channel, and region/countries?
What was the historical market for automotive lubricants across the globe?
What are the market forecasts and estimates for the period 2019-2025?
What are the major drivers, restraints, and opportunitiesin the global automotive lubricants market?
Who are the major players in the global automotive lubricants market?
How is the competitive landscape and who are the market leaders in the global automotive lubricants market?
What are the recent developments in the global automotive lubricants market?
What are the different strategies adopted by the major players in the global automotive lubricants market?
What are the geographical trends and high growth regions/countries?
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About Meticulous Research
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details.
Meticulous Research? was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
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