DUBLIN--(BUSINESS WIRE)--The "Automotive Lubricants Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
An automotive lubricant is used for lubricating automotive parts to minimize friction in vehicles. It also performs a variety of secondary roles. It aids in the cleaning and cooling of engine parts and the prevention of rust and corrosion accumulation.
The automotive lubricant market is changing as the customers demand better-performing lubricants that would enhance the engine's fuel economy and deliver better performance.
Advancements in technology-supported catering to diverse automotive needs such as increasing the shelf life of the engine, reducing carbon footprint, improving fuel economy, supplying lubricants with low viscosity, and meeting the changing vehicle emission standards.
The increasing use of passenger cars and commercial vehicles in emerging economies has fueled the automotive lubricant market.
Opportunities & Trends
- Innovations for Efficient and High-Performance Engines
- Increasing Demand for Passenger Vehicles in Emerging Economies
- Improvements in Sustainability Standards for Productivity and Profitability
- Growing Demand for Alternate Engine Powertrain Platforms
- Rapid Growth in Urbanization and Middle-Income Population
- Surge in Demand for Group Ii & Iii Base Oils
- High Demand for Alternate Powertrain-Specific Lubricants
- Unavailability of Raw Materials for Automobile Industry
Key Questions Answered:
1. How big is the automotive lubricants market?
2. What are the growth factors in the automotive lubricants market?
3. Who are the key vendors in the automotive lubricants market?
4. What are the latest trends in the automotive lubricants market?
5. Which region holds the largest share in the automotive lubricants market?
Companies and Strategies
The key players have undertaken various strategies to grow in the automotive lubricants market. Companies in the automotive lubricants industry compete strategically. The growth in sustainable processes and initiative has been a challenge for all companies globally. Technological advances and environmental and economic challenges drive the demand for innovative and sustainable automotive lubricant products.
Some major players in the market include Exxon Mobil Corporation (US), British Petroleum (UK), Shell (Netherlands), Gulf Oil (US), Idemitsu (Japan), Castrol (US), Fuchs (Germany), and Chevron Corporation (US). These players have adopted strategies such as expansion, agreement, new product development, joint ventures, and others to increase their revenues in the automotive lubricants market.
The automotive lubricants market is provided for the forecast years 2022 to 2027 and the base year of 2021. The market is segmented as per Type, Vehicle Type, Oil Type, and Geography for the years considered. The report provides a holistic approach to the automotive lubricants market to enable customers to analyze the market efficiently.
- ExxonMobil Corporation
- Shell PLC
- Total Energies
- Chevron Corporation
- Castrol Limited
Other Prominent Vendors
- BP PLC
- Philips 66
- Hindustan Petroleum Corporation Limited
- GS Caltex Corporation
- Idemitsu Kosan Co., Ltd.
- Kuwait Dana Lubes Company
- Bharat Petroleum Corporation Limited
- Valvoline Inc.
- Indian Oil Corporation Limited
- Gulf Oil International limited
- Petro-Canada Lubricant Inc.
- Liqui Moly
- Ravensberger Schmierstoffvertrieb GmbH (Ravenol)
- Petroliam Nasional Berhad (PETRONAS)
- Behran Oil Co.
Segmentation by Product Type
- Engine Oil
- Transmission Fluid
- Hydraulic Fluid
Segmentation by Group
- Commercial vehicles
- Passenger Car
Segmentation by Oil Type
- Mineral Oil
- Fully Synthetic Oil
- Semi-Synthetic Oil
- Biobased Oil
Segmentation by Geography
- North America
- South Korea
- Latin America
- Middle East & Africa
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/5nuxug
Laura Wood, Senior Press Manager
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