Press release
Meticulous Research®: Global Automotive Lubricants Market Set to Reach $114.2 Billion by 2030
Meticulous Research®, a globally recognized leader in market intelligence, has released its latest report, 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 report projects that the global automotive lubricants market will reach $114.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.8% during the forecast period.Download Complete Sample PDF Copy Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5036
Key Market Drivers
The market's expansion is primarily driven by:
Rising demand for high-performance lubricants
Rapid development of transportation infrastructure
Growth in automotive production
Increasing adoption of sustainable lubricants
However, challenges such as the reduced need for lubricants due to the increasing adoption of electric vehicles (EVs) and the volatile prices of raw materials are expected to impact market growth.
Emerging Opportunities
Significant opportunities are anticipated in emerging economies, along with rising demand for eco-friendly lubricants. However, developing lubricants compatible with EVs and hydrogen fuel cell engines, along with fluctuating raw material costs, may pose obstacles to market progression. Additionally, the growing trend towards thinner engine oils to enhance fuel efficiency is reshaping the industry.
Market Segmentation Insights
Meticulous Research® has segmented the automotive lubricants market by product type, vehicle type, composition, sales channel, and geography, offering detailed insights into each category.
Check complete table of contents with list of table and figures: https://www.meticulousresearch.com/product/automotive-lubricants-market-5036
By Product Type: The market includes engine oil, transmission & hydraulic fluids, gear oil, grease, chain oil, and brake fluids. In 2024, engine oil is expected to dominate the market, driven by the need to enhance fuel efficiency in internal combustion engine (ICE) vehicles and the demand for engine oil replacements in the automotive aftermarket. The grease segment is expected to experience the fastest growth during the forecast period.
By Vehicle Type: The market is segmented into internal combustion engine vehicles, electric vehicles, natural gas engines, and hydrogen-powered vehicles. The internal combustion engine segment is projected to hold the largest market share in 2024, supported by ongoing technological advancements and strict emissions regulations. However, the electric vehicles segment is forecasted to grow at the highest CAGR, driven by the global shift towards electrification.
By Composition: The market is divided into mineral oil, fully synthetic oil, and semi-synthetic lubricants. Fully synthetic oil is expected to capture the largest share in 2024, attributed to its superior performance, reduced friction, and ability to improve fuel efficiency. This segment is also anticipated to witness the highest growth rate during the forecast period.
By Sales Channel: The market is segmented into original equipment manufacturers (OEMs) and aftermarket channels. In 2024, the aftermarket segment is expected to dominate, driven by growing car ownership in emerging markets, stringent emission regulations, and increased consumer awareness about vehicle maintenance. This segment is also forecasted to experience the fastest growth.
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Regional Market Highlights
Geographically, the automotive lubricants market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to lead the market, driven by the rapid expansion of the automotive and transportation industries, along with strong government support. The region's abundant raw materials and the presence of major lubricant and auto manufacturers further strengthen its market position. Asia-Pacific is also projected to record the highest CAGR during the forecast period, fueled by rising disposable incomes and increased demand for vehicles.
Competitive Landscape
The global automotive lubricants market is highly competitive, with key players focusing on product innovation, strategic partnerships, and geographic expansion. Leading companies operating in the market include:
Shell International B.V. (Subsidiary of Shell Plc)
Exxon Mobil Corporation
FUCHS PETROLUB SE
Motul
Phillips 66 Company
Repsol, S.A.
SK Enmove Co., Ltd.
China National Petroleum Corporation
Klüber Lubrication München Se & Co. KG (Subsidiary of Freudenberg Group)
Amsoil Inc.
Petróleo Brasileiro S.A. - Petrobras
Valvoline Inc.
Sinopec India
Chevron Corporation
BP P.L.C.
Castrol Limited
These companies are employing various strategies such as mergers, acquisitions, and product launches to gain a competitive edge in the automotive lubricants market.
Request Sample PDF Copy Here: https://www.meticulousresearch.com/request-sample-report/cp_id=5036
Key Questions Addressed in the Report:
What are the fastest-growing segments by product type, vehicle type, composition, sales channel, and geography?
What are the historical market trends and forecasts for the global automotive lubricants market?
What are the key drivers, challenges, opportunities, and trends in the automotive lubricants market?
Who are the major competitors in the automotive lubricants market, and what are their market shares?
What are the recent developments in the automotive lubricants market?
What strategies are being adopted by leading players?
Which regions and countries offer high-growth opportunities in the automotive lubricants market?
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