The Global Automotive Lubricants Market Size Was Valued At USD 66.87 Billion In 2021. The Market Is Projected To Grow From USD 68.63 Billion In 2022 To USD 76.61 Billion In 2029, Exhibiting A CAGR Of 1.6% During The Forecast Period.
Automotive Lubricants Market Overview
Global Automotive Lubricants Market Size, Status, and Forecast 2023-2030. In-depth research accumulated to offer the latest insights about acute features of the global Automotive Lubricants market. This report provides a detailed overview of key factors in the Automotive Lubricants Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. The impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Automotive Lubricants in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19. In addition, research considers the impact of the COVID-19/Russia-Ukraine War on the regional economy.
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Market Overview:
The COVID-19 pandemic has had a terrible effect on the world that has never been seen before, and the demand for automotive lubricants has been higher than expected in all areas compared to levels before the pandemic. Our research shows that the global market grew 14.8% from 2019 to 2020.
Lubricants are important for keeping a car running well and keeping it safe. Different base oils are used to make them. Mineral-based lubricants are used most often all over the world because they are easy to find. But synthetic or bio-based lubricants, which are becoming more popular, have changed the market in a big way. Consumers have gotten many benefits from technological advances, such as longer times between oil changes and service, better gas mileage, and longer warranty periods.
Some of the key players profiled in the study are
Shell plc (U.K.), Exxon Mobil Corporation (U.S.), BP plc (U.K.), Chevron Corporation (U.S.), TotalEnergies SE (France), China National Petroleum Corporation (China), Idemitsu Kosan (Japan), Sinopec Group (China), Fuchs Petrolub SE (Germany), Valvoline Inc. (U.S.), ENEOS Corporation (Japan), and Others.
Automotive Lubricants Market Segmentation:
By Oil Type:
- Synthetic
- Semi-synthetic
- Conventional
- Others
By Product Type:
- Engine Oil
- Gear Oil
- Transmission Fluids
- Coolant
- Brake Fluid & Greases
- Others
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia, and New Zealand, etc.
Regional Insights:
The Asia-Pacific market for automotive lubricants was worth USD 27.36 billion in 2021. Because there are so many cars on the roads in places like China, Japan, India, and South Korea, the Asia-Pacific region is the biggest market in the world. Depending on the country and region, different lubricants for cars are used in different ways. South Korea, for example, uses more synthetic lubricants than India, and most of them are used in both commercial and personal cars. In India, on the other hand, the two-wheeler market, which accounts for about a quarter of all demand, uses the second-most lubricating oil after commercial vehicles.
Synthetic lubricants for cars are becoming more important in Europe because more and more people want effective, high-quality lubricants. The rise in demand for electric vehicles and the implementation of strict environmental rules in the automotive sector have had a negative effect on the region’s market growth.
North America is expected to follow the same pattern as Europe. In North America, the market will grow because more commercial vehicles will use the product.
Brazil and Mexico make up the majority of the Latin American market because they bring in more than two-thirds of its income. The area has been through a lot of political and economic changes, but things are getting better now. This is likely to slow the growth of the market in the near future. But automakers are spending more in the area, and the number of people who prefer to drive their own cars is growing.
The Middle East and Africa make up a very small part of the global market. The GCC countries, Turkey, and Iran make up most of the region’s demand. Due to low base stock prices, low adoption rates, and low consumer awareness, conventional or mineral oil makes up more than three-quarters of the region’s market share. During the time frame of the projection, the political and economic problems in the region are likely to slow the growth of the market.
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Table of Content of Automotive Lubricants Market:
1: Introduction, market driving force product Objective of Study, and Research Scope of the Global Automotive Lubricants market (2023-2030).
2: Exclusive Summary – the basic information of the Global Automotive Lubricants Market.
3: Changing Impact on Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Global Automotive Lubricants; Post COVID Analysis.
4: Presenting the Global Automotive Lubricants Market Factor Analysis, Post COVID Impact Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
5: Displaying the by Type, End User and Region/Country 2017-2022.
6: Evaluating the leading manufacturers of the Global Automotive Lubricants Market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile.
7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2023-2030).
… To be continued
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Key Questions Answered in the Automotive Lubricants Market Report:
- How much was the global Automotive Lubricants market in 2022?
- How much will the global Automotive Lubricants market worth in 2030?
- At what compound annual growth rate will the global Automotive Lubricants market grow?
- Which segment is estimated to lead the Construction Robot market during the forecast period?
- What is the key market driver for the growth of the global Automotive Lubricants market?
A wealth of financial data & business strategy information is provided including:
- Up-to-date company financials, sales & revenue figures.
- Revenue and market forecasts.
- Business model strategies for niche companies.
- A comprehensive explanation of company products, financials & portfolios.
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