Automotive Lubricants Market

IMARC Group expects the market to reach US$ 104.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.1% during 2024-2032.

BROOKLYN, NY, UNITED STATES, June 27, 2024 /EINPresswire.com/ -- The latest report by IMARC Group, titled “Automotive Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the automotive lubricants market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The global automotive lubricants market size reached US$ 78.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 104.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.1% during 2024-2032.

Automotive Lubricants Market Trends:

The global automotive lubricants market is driven by several key factors contributing to its growth and evolution. Stringent environmental regulations globally are pushing automotive manufacturers to develop vehicles with higher fuel efficiency. This trend necessitates the use of advanced lubricants that reduce friction and enhance engine performance, thereby improving fuel economy and lowering emissions. Besides, the expanding automotive industry, particularly in emerging economies, is fueling the demand for automotive lubricants.

The increasing production and sales of passenger cars, commercial vehicles, and off-highway vehicles require adequate lubrication solutions to ensure optimal engine and component performance over extended periods. Technological advancements in lubricant formulations are another significant driver. Manufacturers are increasingly focusing on developing synthetic and semi-synthetic lubricants that offer superior thermal stability, viscosity index, and longer service intervals compared to conventional mineral oils. These advancements cater to the growing preference for high-performance lubricants among vehicle owners and fleet operators.

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Automotive Lubricants Market Scope and Growth Analysis:

The global automotive lubricants market encompasses a wide range of products, including engine oils, transmission fluids, gear oils, brake fluids, and coolant additives. It is segmented by lubricant type, application (passenger vehicles, commercial vehicles, off-highway vehicles), and geography.

Geographically, Asia-Pacific leads the market due to rapid industrialization, urbanization, and increasing automotive production in countries like China and India. North America and Europe also hold substantial market shares, driven by high vehicle ownership rates and stringent regulatory standards governing automotive lubricants. Competitive analysis reveals a competitive landscape dominated by major multinational lubricant manufacturers and suppliers. These companies focus on product innovation, strategic partnerships with automotive OEMs, and expansions in emerging markets to gain a competitive edge.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/automotive-lubricants-market

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 (2018-2023)
• Market Outlook (2024-2032)
• 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.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here

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