Press release
Automotive Lubricants Market to be Worth $114.2 Billion by 2030
According to a new market research report titled, 'Automotive Lubricants Market by Product Type (Engine Oil, Transmission & Hydraulic Fluids, Gear Oil, Grease, Chain Oil, Brake Fluids), Vehicle Type, Composition, Sales Channel, and Geography - Global Forecast to 2030,' the automotive lubricants market is projected to reach $114.2 billion by 2030, at a CAGR of 7.8% during the forecast period.Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5036
Automotive lubricants are used to reduce friction between surfaces and contact, such as road and vehicle, which protects the automotive parts, increasing vehicle performance. The growth of this market is attributed to the rapid development of transportation infrastructure and the increasing adoption of high-performance and sustainable lubricants. In addition, the significant opportunities from emerging economies, increasing production of vehicles across the globe, and the increasing demand for environment-friendly lubricants are expected to offer significant opportunities for the growth of this market.
However, innovations in vehicle technologies and the volatile nature of the prices of raw materials hamper the growth of this market. In addition, the increasing need for producing compatible lubricants for EVs & hydrogen fuel cell engines and the volatile pricing of automotive lubricants are major challenges to the growth of this market.
The automotive lubricants market is segmented by product type (engine oil, transmission & hydraulic fluids, gear oil, grease, chain oil, brake fluids), vehicle type (internal combustion engine vehicles, electric vehicles, natural gas engines, hydrogen-powered vehicles), composition (mineral oil lubricants, fully synthetic oil lubricants, semi-synthetic oil lubricants), sales channel (original equipment manufacturers, aftermarket), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Browse in depth @ https://www.meticulousresearch.com/product/automotive-lubricants-market-5036
Rapid Development of Transportation Infrastructure Supports the Growth of the Automotive Lubricants Market
Globally, there is rapid development in transportation infrastructure. Improving infrastructure with well-connected roads and highways would further rise the demand for automobile industries. Automotive lubricants are directly correlated with vehicle population growth and automobile sales. A large number of vehicles present in urban and rural areas are growing huge potential for auto players. This growing demand from the automobile industry is expected to drive the growth of the automotive lubricants market during the forecast period.
The government of India has made significant investments in road transportation infrastructure. For instance, in November 2022, according to the Union Budget of India, the Government allocated USD 26.04 billion to the Ministry of Road Transport and Highways for the construction of national highways. Also, in December 2022, the Indian Ministry of Road Transport and Highways constructed national highways extending 5,835 km. Road transportation has gradually increased over the years, improving connectivity between countries. The sale of automobiles and the movement of freight by roads is growing rapidly. This growth in the automobile industry is driving the demand for automotive lubricants globally.
Based on product type, the automotive lubricants market is segmented into engine oil, transmission & hydraulic fluids, gear oil, grease, chain oil, brake fluids, and other products. In 2023, the engine oil segment is expected to account for the largest share of the global automotive lubricants market. The large share of this segment is attributed to the rapid development of transportation infrastructure, the growing production of vehicles across the globe, rising consumer awareness regarding the use of oil, and huge demand from the automobile aftermarket segment. Engine oil primarily benefits vehicle owners by preventing costly repairs, ensuring a longer engine lifespan, maintaining proper engine operation, and reducing fuel consumption and carbon emissions. However, the grease segment is projected to register the highest CAGR during the forecast period.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5036
Based on vehicle type, the automotive lubricants market is segmented into internal combustion engine vehicles, electric vehicles, natural gas engines, and hydrogen-powered vehicles. In 2023, the internal combustion engine vehicles segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the technological developments in terms of efficiency and performance to boost the product demand for higher-performing IC engines, stringent government regulations related to emissions, and the consistently rising demand to accelerate the growth of high-performance IC engines. However, the electric vehicles segment is projected to register the highest CAGR during the forecast period.
Based on composition, the automotive lubricants market is segmented into mineral oil lubricants, fully synthetic oil lubricants, and semi-synthetic lubricants. In 2023, the fully synthetic oil lubricants segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the advantages of high-performance and advanced engines, low overall viscosity and reduced friction in the fluid, their ability to provide high-quality lubrication, and the growing need for better fuel economy and reduced vehicle emissions. In addition, this segment is also projected to register the highest CAGR during the forecast period.
Quick Buy - Automotive Lubricants Market Research Report: https://www.meticulousresearch.com/Checkout/81870914
Based on sales channel, the automotive lubricants market is segmented into original equipment manufacturers and aftermarket. In 2023, the aftermarket segment is expected to account for the largest share of the automotive lubricants market. The large market share of this segment is attributed to the increasing need for car ownership, especially in emerging economies, a huge customer base, stringent government regulations related to CO2 emission, and rising consumer awareness regarding the use of lubricants to maintain vehicle efficiency and achieve better fuel economy. In addition, this segment is also projected to register the highest CAGR during the forecast period.
Based on geography, the automotive lubricants market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the market. The large share of this market is attributed to the rapid growth in the automotive industry & abundant availability of raw materials in the region, the growing transportation industry, stringent regulations on CO2 emissions, and the government initiatives to promote the automotive industry. In addition, this region is also projected to register the highest CAGR during the forecast period.
Some of the major players operating in this market are Shell International B.V. (Subsidiary of Shell Plc) (Netherlands), Exxon Mobil Corporation (U.S.), FUCHS PETROLUB SE (Germany), Motul (France), Phillips 66 Company (U.S.), Repsol, S.A. (Spain), SK Enmove Co., Ltd. (South Korea), China National Petroleum Corporation (China), Klüber Lubrication München Se & Co. KG (Subsidiary of Freudenberg Group) (Germany), Amsoil Inc. (U.S.), Petróleo Brasileiro S.A. - Petrobras (Brazil), Valvoline Inc. (U.S.), Sinopec India (China), Chevron Corporation (U.S.), BP P.L.C. (U.K.), and Castrol Limited (U.K.).
TOP 10 COMPANIES IN AUTOMOTIVE LUBRICANTS MARKET @ https://meticulousblog.org/top-10-companies-in-automotive-lubricants-market/
Contact Data
Mr. Khushal Bombe
Meticulous Research®
Direct Lines: +1-646-781-8004 (North America)
+44-203-868-8738 (Europe)
+91 744-7780008 (Asia-Pacific)
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
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, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Lubricants Market to be Worth $114.2 Billion by 2030 here
News-ID: 3097937 • Views: …
More Releases from Meticulous Research®
AI in Supply Chain Market to Reach $58.55 Billion by 2031, Growing at a CAGR of …
Meticulous Research®-a leading global market research company, published a research report titled, 'AI in Supply Chain Market by Offering (Hardware, Software, Other), Technology (ML, NLP, RPA, Other), Deployment Mode, Application (Demand Forecasting, Other), End-use Industry (Manufacturing, Retail, F&B, Other) & Geography - Global Forecast to 2031'
According to this latest publication from Meticulous Research®, the AI in supply chain market is projected to reach $58.55 billion by 2031, at a CAGR…
Hair Dryer Market to Reach $12.3 Billion by 2032, Growing at a CAGR of 4.9%
Meticulous Research®-a leading global market research company, published a research report titled, 'Hair Dryer Market Size, Share, Forecast, & Trends Analysis by Model (Foldable, Non-foldable), Type (Cordless, Corded), Technology (Ionic, Tourmaline, Ceramic, Infrared), Power (Low, High), Usage, Distribution Channel - Global Forecast to 2032.'
According to this latest publication from Meticulous Research®, in terms of value, the hair dryer market is projected to reach $12.3 billion by 2032, at a CAGR…
Vegan Food Market to Reach $109.4 Billion by 2032, Growing at a CAGR of 12.4%
Meticulous Research®-leading global market research company, published a research report titled, 'Vegan Food Market Size, Share, Forecast, & Trends Analysis by Type (Dairy Alternatives {Yogurt, Milk, Ice Cream, Cheese, Butter}, Meat Substitutes {Tofu, Nuggets}, Bakery Product), Distribution Channel (B2B, B2C {Convenience Store}) - Global Forecast to 2032.'
According to this latest publication from Meticulous Research®, the vegan food market (Markt für vegane Lebensmittel) is projected to reach $109.4 billion by 2032,…
IPTV Market to Soar to $145.1 Billion by 2032, Growing at a Strong CAGR of 12.4%
Meticulous Research®-a leading global market research company, published a research report titled, 'IPTV Market by Subscription Type (Paid Subscription, Freemium Subscription), Connection Type (Single Connection, Multi-connection), Streaming Device (Smart TVs, Laptops & PCs), End User (Individuals, Corporates), and Geography-Global Forecast to 2032.'
According to the latest publication from Meticulous Research®, the IPTV market is expected to reach $145.1 billion by 2032, at a CAGR of 12.4% from 2025 to 2032.The growth…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.
Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,…
