The global automotive lubricant market size is expected to surpass US$ 120 Bn by 2027, expanding at a CAGR of more than 4% during the forecast period 2020 to 2027.
Increased number of on-road vehicles, globally, is driving the automotive lubricant market. Average age of vehicles has increased with more number of people preferring to retain their vehicle. Consequently, an increased number of ageing vehicles on the road need maintenance, thereby driving the demand for automotive lubricant.
Demand for lower viscosity oils has increased due to their ability to improve engine performance and fuel economy. OEMs are recommending lower viscosity lubricants and shifting the OEM and aftermarket demand toward better quality synthetic /semi-synthetic oils. Consumers are becoming more aware about maintenance of their vehicle’s health. Synthetic/Semi-synthetic oils are expensive but have longer drain interval time and hence, adoption of these oils is a win-win situation for both manufacturers and consumers. Therefore, the market is moving toward higher value lubricants. API or API-equivalent standards are followed globally in order to curb rising emission and maintain minimum performance of lubricants. Rising performance requirements are prompting OEMs to seek better quality lubricants, which in turn is boosting the automotive lubricant market.
Vehicle users in North America and Europe prefer automatic transmission, which contributes to the high demand for automatic transmission fluid (ATF) in these regions. Asia Pacific is witnessing a technology shift from manual to automatic transmission, owing to the rising demand for continuously variable transmission and dual clutch transmission. This is expected to drive the demand for ATF in the region.
Automotive lubricants are predominantly utilized to reduce friction and enable smooth functioning of a vehicle. They are also used for transfer of heat, transmission of power, and protection against corrosion and rust.
Rise in number of on-road vehicles is a major driver of the automotive lubricant market. Rising dependency on private transport, economic stability, and increasing consumer affordability are boosting the usage of vehicles, which in turn is driving the demand for automotive lubricant. The average age of vehicles has increased to 11 years. Presence of ageing vehicle fleet improves the maintenance scope, thus driving the automotive lubricant market. OEM recommendation on usage of quality lubricants, such as synthetic/ semi-synthetic oil as they offer better lubrication than mineral oil, is expected to boost the demand for quality lubricants. Rise in consumer awareness and affordability is driving the usage of high quality lubricants, thus boosting the market of automotive lubricant. Government bodies are establishing minimum performance standards for lubricants in order to control rising emissions. Thus, prompting the utilization of low viscosity lubricants such as synthetic / semi-synthetic oil. Synthetic / Semi-synthetic oil has longer drain intervals as compared to mineral oil and hence, are being increasingly preferred by consumers. Moreover, synthetic/semi-synthetic oils account for a higher share of the market share, in terms of revenue, as these oils are more expensive than the mineral oils.
Rising sales of electric vehicles is expected to decline the consumption of automotive lubricant. Battery electric vehicles eliminate the need for engine oil due to the absence of the IC engine. Furthermore, electric vehicles have fewer reciprocating parts and hence, rising adoption of electric vehicles is expected to hamper the automotive lubricant market.
The Automotive Lubricant market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive Lubricant market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive Lubricant market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Lubricant market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Lubricant market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive Lubricant capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive Lubricant by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Lubricant market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Lubricant market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Lubricant market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive Lubricant industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Automotive Lubricant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Lubricant market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Lubricant market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Lubricant market. These factors have benefited the growth of the global market for Automotive Lubricant. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Lubricant. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key players operating in the global automotive lubricant market include Royal Dutch Shell plc, ExxonMobil Corporation, BP p.l.c., Chevron Corporation, Total S.A.., Sinopec Corporation, Fuchs Lubricants Co., LUKOIL, Phillips 66 Company, Valvoline LLC, Repsol S.A., JXTG Nippon Oil & Energy Corporation, Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, Petrobras, and Morris Lubricants. The market is largely fragmented due to the presence of several public-sector companies.
Global Automotive Lubricant Market, by Product Type
Global Automotive Lubricant Market, by Base Oil
Global Automotive Lubricant Market, by Vehicle Type
Global Automotive Lubricant Market, by Sales Channel
Global Automotive Lubricant Market, by Region/Country/Sub-region
In this study, the years considered to estimate the market size of Automotive Lubricant are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Electric Vehicle Battery Market (By Battery Type:Lithium-Ion, Lead-Acid, Nickel-Metal Hydride, Sodium-Ion, Others; By Vehicle Type: Passenger Vehicles, Commercial Vehicles; By Propulsion: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV)) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2028Read more...
Tire Replacement Market (By Rubber Type: Natural Rubber, Ethylene –Propylenediene Monomer Rubber, Styrene-Butadiene Rubber, Polychlororene, Others; End User: Automotive Sector, Aviation Sector, Construction Sector; By Distribution Channel: Online Distribution Channel, Offline Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2028Read more...
Automotive Fuel Delivery System Market (By Vehicle: Passenger Cars, Commercial Vehicles; By Component: Fuel pump, Fuel injector, Fuel pressure regulator, Fuel filter, Fuel rail, Air control valve, Throttle position sensor; By Fuel: Gasoline, Diesel, Other; By Alternative Fuel Vehicles: CNG, LPG, LNG) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2028Read more...
Car Towing Service Market (By Tow Vehicle Type: Flatbed Tow Truck, Integrated Tow Truck, Hook-and-Chain Tow Truck, Wheel-Lift Tow Truck; By Service Provider: Motor Insurer, Auto Manufacturer, Automotive Club, Independent Warranty Provider) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2028Read more...
Battery-as-a-Service Market (By Type: Stationary Equipment, Mobile Equipment; By Service: Vehicle-Battery Separation, Battery Subscription, Chargeable, Swappable and Upgradable Batteries; By Application: Automotive and Transport, Energy, Industrial, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2028Read more...