Automotive Lubricants Market Analysis 2020 Trends, Development History, Current Assessment, Business Strategy, Upcoming Trends Of Industry


Automotive Lubricants Market Analysis 

The increased automobile ownership levels globally are estimated to promote the automotive lubricants market. The market’s report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. The market is estimated to be driven by a 4.6% CAGR by 2025.

The increased prevalence of strategic tie-ups is estimated to promote the automotive lubricants market in the near future. The improved manufacturing potential of market companies is likely to benefit the automotive lubricants market share in the forecast period.

Segmental Analysis

The segmental investigation of the Automotive Lubricants Market Analysis is conducted on the basis of material, product type, application, and region. The automotive lubricants market’s material segment comprises mineral oil, semi-synthetic oil, fully synthetic oil, and bio-based oil. The product type segment of the automotive lubricants market comprises of brake oil, gear oil, grease, and engine oil. The automotive lubricants market’s application segment comprises three-wheelers, passenger cars, two-wheelers, light-weight commercial vehicles, and heavy-weight commercial vehicles. The segment of the automotive lubricants market comprises of Asia Pacific, Latin America, the Middle East, North America, Europe, and Africa.

Competitive Analysis

The market is estimated to derive momentum from improvement in operating systems within the market. As the market players understand the advantages of a lean operation framework, the market is estimated to transform considerably. The role of the government bodies in almost every country is estimated to be valuable to restore normalcy and create a growth outlook. The earmarked budget for innovation is set to rise with companies realizing the impact of having a progressive product assortment. The development of novel production processes is likely to enhance market strength further. The stabilization of demand and supply forces is estimated to open up opportunities for expansion in the forecast period. The forging of novel international trade relations is estimated to bolster the market’s capabilities in the upcoming period. The fast-paced adoption of online services and selling platforms is estimated to reinforce market progress in the upcoming years. The consolidation of market competition is predicted to usher in a new development phase in the impending period.

The notable companies in the automotive lubricant market are Chevron Corporation (US), Fuchs (US), PT Pertamina (Persero) (Indonesia), American Synthol, Inc. (US), IDEMITSU Kosan Co., Ltd (Japan), ConocoPhillips Corporation (US), BP PLC (UK), ExxonMobil Corporation (US), LUKOIL (Russia), Royal Dutch Shell PLC (Netherlands), Total (France), Ashland Inc. (US), LIQUI MOLY GmbH (Germany), Gulf Oil (India), and ROCOL (UK).

Regional Overview

The regional review of the automotive lubricants market comprises of Asia Pacific, Latin America, the Middle East, North America, Europe, and Africa. The Asia-Pacific regional market holds the largest share and is anticipated to be the fastest increasing region throughout the forecast period. The elevated population in the region and mounting preference for owning vehicles among buyers is directing to more manufacture of the automobiles in the region. Therefore, fueling the development of automotive lubricants in the APAC regional market. The European and North American regional markets are anticipated to have sluggish growth in the automotive lubricants industry due to the strict government rules on the CO2 emission incentivizing carmakers to manufacture more electric vehicles. The European region has a governing market of synthetic and semi-synthetic oils, which has retained the need for automotive lubricants in the region. The Middle Eastern & African regional market is witnessing a stable growth globally because of the elevated demand for lubricants in the Middle Eastern region.

Industry Updates:

May 2021 Petronas’, lubricants arm of international oil and gas company, has employed Lewis to build brand understanding, awareness, and status across a large portion of the EMEA market. Lewis Communications has been charged with growing and delivering global PR and digital campaigns for Petronas Lubricants International (PLI) throughout EMEA. Lewis disclosed it would back PLI as it presents a pipeline of products and services​, counting co-branded ranges that have been planned together with its OEM (original equipment manufacturer) associates.

June 2021 ENOC Group and dnata have lately recommenced their long-standing alliance of over 25 years. ENOC Group will provide lubricants and grease for dnata’s operational on-ground fleet of about 6,000 vehicles and equipment as part of the extended arrangement. ENOC’s lubricants variety will tune up all dnata equipment and fleet in Dubai International Airport and Dubai World Central (DWC) with petrol and diesel engine oils. All the lubricants and greases are approved by the newest American Petroleum Institute’s (API) yardsticks. ENOC is one of the primary leaders in the region to present an entire variety of advanced lubricants that follow the highest industry values.

Comments

Post a Comment

Popular posts from this blog

Regulatory Hurdles and Spectrum Access in the Private 5G Market

The private 5G market represents a burgeoning segment within the broader telecommunications industry, focusing on the deployment of 5G networks for private use by enterprises, industries, and organizations. Unlike public 5G networks, which are available to the general public, private 5G networks offer dedicated bandwidth and infrastructure tailored to the specific needs of an organization, providing enhanced security, reliability, and performance. Global private 5G market is expected to be valued at USD 2.0 billion in 2023 and is projected to reach USD 11.8 billion by 2028 ; it is expected to grow at a CAGR of 42.3% from 2023 to 2028 Market Overview The private 5G market is witnessing rapid growth driven by the increasing demand for high-speed, low-latency connectivity that can support advanced applications and the Industrial Internet of Things (Biot). These networks are becoming essential for industries such as manufacturing, logistics, healthcare, and energy, where the need for reli
Read more

Submarine Cable System Market to grow from USD 18.2 billion in 2024

 Submarine Cable System Market to grow from USD 18.2 billion in 2024 and is expected to reach USD 29.7 billion by 2029, growing at a CAGR of 10.3% from 2024 to 2029. The submarine cable systems market , encompassing a critical infrastructure for global communications and data transfer, has seen significant growth and transformation. As of 2023, this market is valued at several billion dollars, driven by increasing data traffic, the proliferation of cloud services, and the ongoing expansion of internet connectivity worldwide. Market Overview Submarine cable systems are underwater cables laid on the seabed between land-based stations to carry telecommunication signals across stretches of ocean and sea. These cables are pivotal in connecting continents and facilitating international communication, accounting for nearly 99% of global data traffic. Key Drivers Data Traffic Surge : The exponential growth in data consumption, fueled by streaming services, social media, and cloud computing, ha
Read more

India's Rising Tech Tide: Fueling the ITAD Market

IT asset disposition market size is projected to grow from USD 18.4 billion in 2024 and is anticipated to be USD 26.6 billion by 2029, growing at a CAGR of 7.6% from 2024 to 2029. The Asia Pacific (APAC) region is experiencing a significant boom in the IT Asset Disposition (ITAD) market. Fueled by rapid technological advancements, growing environmental concerns, and stricter regulations, businesses are increasingly turning to ITAD services to manage their end-of-life IT equipment responsibly. Let’s delve into the key trends shaping the ITAD landscape in APAC: Downlod PDF Brochure —  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=28474391 Market Growth Drivers: Rapid IT Refresh Cycles: The rapid pace of technological innovation leads to frequent upgrades, creating a large volume of used IT equipment requiring proper disposal. Data Security Concerns: With the rise of cybercrime, secure data wiping and destruction have become paramount for organizations disposing of IT assets.
Read more