Press release
Automotive Lubricants Market Automotive Lubricants Market 5.7% CAGR; Forecast to 2027
Market Highlights
The global automotive powertrain system market is a progressing market, and is expected to witness significant growth over the forecast period. Automotive powertrain system is one of the most crucial vehicle parts which has been gaining a lot of attention among major vehicle manufacturers. Automotive industry has become one of the major revenue generator industries and has come up with several technological advancements in the last few years, automotive powertrain system being one of them. The global automotive powertrain system market has seen remarkable growth in the global market, and it has been observed that, its demand in the future is expected to grow with the CAGR of ~5.7%.
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Segments:
The global automotive powertrain system market segments has been divided on the basis ofas component, engine type, vehicles type and region. On the basis of component, the market is segmented engine, transmission, differentials, drive shafts and others. Among these components, engine and transmission are expected to dominate the market, followed by differentials and drive shafts. Whereas, the engine type has been segmented as gasoline engine and diesel engine. Gasoline engine is expected to dominate the global market by type in 2016 in terms of market revenue. Due to the government regulations on reducing emission, people are opting for gasoline engines vehicles, which are resulting in more demand for automotive powertrain systems. On the basis of vehicle type, the market has been segmented as passenger vehicles and commercial vehicles. Among these, passenger vehicles have accounted for the highest market share, in 2016 in terms of revenue.
Regional Analysis of Automotive Lubricants Market
Asia-Pacific is one of the dominant regions for the Automotive Lubricants market. Increasing demand due to increasing population in the Asia-Pacific region is one of the key factors for the high growth in this region. North America and Europe being one of the saturated markets are showing steady growth in the Automotive Lubricants market.
Key Player
Some of the key players in the Automotive Lubricant market are ExxonMobil Corporation(U.S.A), Chevron Corporation(U.S.A), Fuchs Lubricants Co.(U.S.A), ConocoPhillips Corporation(U.S.A), BP plc (U.K.), LUKOIL Oil Company (Russia), IDEMITSU Kosan Co. Ltd.(Japan), Royal Dutch Shell plc (Netherlands), Total S.A. and Valvoline (U.S.A) among others.
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About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Akash Anand,
Market Research Future
Pune – 411028
Maharashtra, India
Phone No. :+1 646 845 9312
Email: sales@marketresearchfuture.com
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