Automotive Lubricants Market Report, Size, Share, Growth, Trends, Demand and Forecast 2023-2028

According to IMARC Group latest report titled “Automotive Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on automotive lubricants market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global automotive lubricants market size reached US$ 75.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 93.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.

Automotive lubricants are specialized fluids used to reduce friction, heat, and wear between moving parts in vehicles. They are essential for the proper functioning and longevity of engines, transmissions, and other mechanical components. Automotive lubricants are specifically formulated to meet the lubrication needs of different vehicle systems, including engines, transmissions, differentials, power steering systems, and brake systems. The primary function of automotive lubricants is to reduce friction between moving parts in the vehicle’s engine and other mechanical systems. By creating a protective film between surfaces, lubricants minimize direct metal-to-metal contact, reducing wear and prolonging the lifespan of engine components. They also play a crucial role in dissipating heat generated by friction and the combustion process while controlling the temperature by absorbing and transferring heat away from critical components, preventing overheating and subsequent damage to engine parts.

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Market Trends:

The global market is majorly driven by significant growth in the automotive sector. Coupled with the growing manufacturing and sales of automobiles are creating a positive market outlook. Since the average age of vehicles in many regions is increasing, with owners opting to keep their vehicles for longer periods. Older vehicles require regular maintenance and lubricant replacements, resulting in sustained demand for automotive lubricants, thus providing a boost to the demand. Moreover, technological advancements in vehicles, such as the development of advanced engines, transmissions, and other mechanical components, often require specialized lubricants. Lubricants formulated to meet the specific needs of advanced systems drive the demand for innovative and high-performance lubricant products, which is acting as a growth-inducing factor. Additionally, the aftermarket segment, including independent workshops and service centers, plays a significant role in the automotive lubricants market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Amsoil Inc.
• BP plc
• Chevron Corporation
• China National Petroleum Corporation
• Exxon Mobil Corporation
• Fuchs Group
• Petronas Lubricants International Sdn Bhd
• Phillips 66 Company
• Royal Dutch Shell plc
• SK Lubricants Co. Ltd.
• Total SE
• Valvoline Inc

Automotive Lubricants Market Segmentation:

Our report has categorized the market based on region, product and vehicle type.

Breakup by Product:

• Engine Oil
• Gear Oil
• Transmission Fluids
• Brake Fluids
• Coolants
• Greases
• Others

Breakup by Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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