About Automotive Lubricants
Automotive lubricants as its name imply have to perform in different types of vehicles both petrol and diesel under a variety of operating conditions. Modern vehicles are fuel-efficient and comfortable with high levels of performance. They are required to meet stringent emission norms. The rising automotive sector is driving the sector for this market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Europe |
Unit | Value (USD Million) |
CAGR | 3.2% |
Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Automotive Lubricants market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ExxonMobil Corporation (United States), Chevron Corporation (United States), Fuchs Lubricants Co. (United States), BP PLC (UK), Gulf Oil (India), Ashland Inc. (US), ConocoPhillips Corporation (United States), LUKOIL Oil Company (Russia), IDEMITSU Kosan Co. Ltd. (Japan) and Royal Dutch Shell plc (Netherlands) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Total S.A. (France), Valvoline (United States) and Castrol (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Automotive Lubricants market by Type (Engine Oil, Brake Oil, Gear Oil, Grease and Other), Application (Industrial, Automotive and Marine) and Region.
On the basis of geography, the market of Automotive Lubricants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2022. If we see Market by Distribution Channel, the sub-segment i.e. OEMs will boost the Automotive Lubricants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Passenger Cars will boost the Automotive Lubricants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material Type, the sub-segment i.e. Mineral Oil will boost the Automotive Lubricants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Usage of High-Performance Lubricants and Growth in the Population with the Trend of Possessing an Automobile among the Consumers
Market Growth Drivers:
Increasing Automotive Sector Globally and Massive Industrial Growth in Asia-Pacific and Africa
Challenges:
Availability of Substitutes in Market
Restraints:
High Price of Synthetic and Bio-Based Lubricants and Increasing Popularity of Hybrid Electric Vehicles
Opportunities:
Increased Consumer Awareness Coupled With Stringent Government Regulations on Driving Sale of Synthetic Lubricants and Rising Dependency on Private Transport Globally
Market Leaders and their expansionary development strategies
In July 2021, Duckhams entered the Middle East market with the launch of a range of automotive lubricants in the UAE. Emirates for Universal Tires becomes a distributor of the Duckhams brand in the UAE. With well-established market coverage and marketing expertise, the two companies aim to expand their product offerings in the Middle East.
In July 2021, Steelbird International entered the automotive lubricants space with the launch of engine oils, greases and fork oils. The company focuses on lubricating four-stroke motorcycles in India. This oil complies with all international and national standards and has the potential to provide great value to consumers. and In July 2021, Eurol Lubricants has launched Action RNT 5W-30, a fully synthetic engine oil and coolant for gasoline and diesel engines. Provides thermal stability, wear, dust and corrosion protection. This product is well-versed in car brands such as Nissan, Mazda, Mitsubishi, Dacia, Hyundai and Kia.
Key Target Audience
Lubricants Manufacturers, Raw Material Suppliers, Investment Banks, Lubricants Distributors and Government Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.