Global Automotive Lubricants Market – Size, Outlook, Trends, and Forecast (2024 – 2032)

Automotive Lubricants Market was valued at $64,720 million in 2017 and is expected to reach $89,588 million by 2024, registering a CAGR of 4.9% between 2018 and 2024. Automotive lubricants help to reduce friction and gain smooth functioning of a vehicle. Examples of automotive lubricant products are gear oil,  engine oil, transmission fluid, greases, coolants, bearing oil, brake fluid, etc.

Automotive Lubricants Market Share:

Engine oil segment is the most significant contributor to automotive lubricants market which was around USD 34 billion in 2017.  Engine oil is widely used in passenger cars, diesel trucks, and light-duty trucks. They help to maintain the viscosity, assure dependability and reduce engine wear. High engine oil demand in passenger cars, diesel trucks, and light-duty trucks is expected to drive global automotive lubricants industry growth over the forecast period.

Automotive Lubricants Market Size:

Asia-Pacific leads the market with a share of 49.5%. Steady growth in the economic conditions in the Asia-Pacific countries, especially in India and China, has led to improvement in the financial status of the consumers, which in turn has advanced the demand for automobiles and production.

Automotive Lubricants Market Growth:

Rise in the average lifespan of the vehicles in operation, and increasing demand for and usage of light commercial vehicles in China and India will also propel the growth of the automotive lubricants market in the Asia-Pacific region. Furthermore, the growing demand for automotive and investment by the automotive production companies in the Middle-East & African region will offer numerous opportunities in the growth of the global automotive lubricants market.

Automotive Lubricants Market Industry Analysis:

Base on product type, the market has been segmented into engine oil, transmission & hydraulic fluids, general industrial oil, gear oil, grease, process oil, and others. The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, Middle-East, and Africa.

Automotive Lubricants Market Outlook:

With depleting crude oil reserves, the market has witnessed a crunch in raw material supply. Major oil companies have started to focus on developing new refining techniques, and sources to overcome this obstacle. This trend has led to an establishment of patented refining technologies that are limited to established companies and their alliances. Shell, ExxonMobil, and Kendall have developed PurePlus, Mobil 1 and Liquid Titanium technologies for producing lubricating oils, principally motor oils.

Automotive Lubricants Market Trends:

New Delhi, December 2017 India’s largest company by revenues, Indian Oil has once again topped the just-published Fortune India rankings of the country’s top 500 corporations for the eighth consecutive year. Royal Dutch Shell plc expects the potential economic impact of the recently enacted US tax reform legislation to be favorable to Shell and its US operations, primarily due to the future reduction in the US corporate income tax rate from 35% to 21%.

Automotive Lubricants Market Research report includes:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
• Regional and global diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
• Identifying DROC in the current market and their impact in altering the market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with major competitors.
• Expertise investment opportunities by an analyst to the individual and organization to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the major market players, such as
•        Indian Oil Corporation Ltd.
•        Valvoline
•        Royal Dutch Shell
•        China Petrochemical Corporation (SINOPEC Group)
•        Petronas Lubricants International