Automotive Lubricants Market Overview and Trends:
Automotive Lubricants market is estimated at USD 64.41 Million in 2019 and is expected to expand at a CAGR of 3.5% to USD 76.5 Billion by 2024.
Lubricant is a material, generally natural, applied to reduce friction between surfaces in mutual contact, which eventually reduces the heat generated by moving surfaces. It may also have the purpose of transmitting forces, transporting foreign particles, or heating or cooling the air. The property of friction reduction is known as lubricity. Automotive lubricants improve the overall strength and operation of the vehicle and protect it from wear and tear, friction and high temperatures. The rise in consumer preference for high-quality synthetic lubricants is a crucial driver of this market. They exemplify modern innovations capable of producing robust surfaces, optimizing overall efficiency.
Drivers and Restraints of Automotive Lubricants Market:
Drivers:
Restraints:
Market Segmentation:
By Vehicle Type:
Based on the Vehicle Type, Automotive Lubricants market is segmented into, Personal Passenger Vehicle, Heavy Commercial Vehicles, and Light Commercial Vehicles. Of these, the category of passenger cars provides the highest market potential in the automotive lubricants industry due to an increase in global demand for these cars and general utility vehicles, with an increase in public transport costs. Increased consumer inclination towards secure and easy transport needs further boosts growth in this segment.
The use of automotive lubricants in LCVs has seen significant developments, leading to a steady increase in disposable income per capita and an increase in demand for commercial vehicles. The segment of passenger cars is expected to register a CAGR of 5.1% during the forecast period.
However, increasing concerns about environmental hazards associated with mineral oil lubricants may have an impact on overall market growth in developed and developing countries, but investment in R&D activities to produce novel synthetic lubricants is expected to provide opportunities for growth in the future.
By Application:
Based on the Application, the Automotive Lubricants market is segmented into Engine Oil, Gear and Brake Oil, Transmission Fluids. Of these, engine oil accounted for the highest revenue share of more than 52% of the total market for automotive lubricants. Engine oil is commonly used in passenger cars, diesel trucks, and light-duty trucks. This helps maintain viscosity, maintains reliability and reduces engine wear. In addition, the demand for engine oil is likely to grow at a substantial pace over the forecast period due to increased sales of IC engines specifically in the Asia Pacific and South America.
Automotive Lubricants Region-wise analysis:
Based in region, Automotive Lubricants can be segmented into:
Geographically, Asia-Pacific and LAMEA collectively accounted for almost two-thirds of the global market in terms of volume and are expected to continue this trend due to an increase in urbanization, particularly in China, India, Brazil, and other developing countries. However, a rise in urban population with increased disposable income per capita and an increase in overall consumer spending are driving the growth of the Asia-Pacific market.
Key Players of Market:
Some of the key players of the Global Automotive Lubricants market include Royal Dutch Shell Plc., Valvoline, Total S.A., Exxon Mobil Corporation, Indian Oil Corporation Ltd., BP Plc., PetroChina Company Limited BASF SE, Chevron Corporation, and FUCHS Lubricants.
Global Automotive Lubricants Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemiology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Application
5.1.1 Introduction
5.1.2 Engine Oil
5.1.3 Gear and Break Oil
5.1.4 Transmission Fluids
5.1.5 Y-o-Y Growth Analysis
5.1.6 Market Attractiveness Analysis
5.1.7 Market Share Analysis
5.2 By End-Use
5.2.1 Introduction
5.2.2 Passenger Cars
5.2.3 Heavy Commercial Vehicles
5.2.4 Light Commercial Vehivles
5.2.5 Y-o-Y Growth Analysis
5.2.6 Market Attractiveness Analysis
5.2.7 Market Share Analysis
5.3 By Source Oil
5.3.1 Introduction
5.3.2 Synthetic and Semisynthetic Oil
5.3.3 Mineral Oil
5.3.4 Bio-based Lubrication
5.3.5 Other Lubrication
5.3.6 Y-o-Y Growth Analysis
5.3.7 Market Attractiveness Analysis
5.3.8 Market Share Analysis
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Application
6.1.3.3 By End-Use
6.1.3.4 By Source Oil
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Application
6.1.4.3 By End-Use
6.1.4.4 By Source Oil
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Application
6.1.5.3 By End-Use
6.1.5.4 By Source Oil
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leader Analysis
8.1 Royal Dutch Shell Plc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Valvoline
8.3 Total S.A
8.4 Exxon Mobil Corporation
8.5 Indian Oil Corporation
8.6 BP Plc
8.7 PetroChina Company Limited BASF SE
8.8 Chevron Corporation
8.9 FUCHS Lubricants
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, Collaborations, and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
