Automotive lubricants Market Size, Share, Industry, Forecast and outlook (2023-2030)

Automotive Lubricants Market is segmented By Type (Engine Oil, Gear Oil, Transmission Fluids, Brake fluids, Others), By Oil Base (Mineral Oil, Synthetic Oil, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Automotive Lubricants Market Overview

A Report by DataM Intelligence estimates the Global Automotive Lubricants market to grow at a high CAGR Of 1.5% during the forecast period 2023- 2030. The competitive rivalry intensifies with Amsoil Inc, ExxonMobil, Chevron Corp., and others operating in the market.

Automotive lubricants are used to reduce friction and wear between the moving parts of vehicles such as engines, brakes, etc. The global automotive lubricants market is anticipated to grow owing to increased vehicle production and the need for the efficient operation of automobiles.

Automotive Lubricants Market Summary

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Automotive Lubricants Brands

Major players are Amsoil Inc., British Petroleum, Chevron Corp., ExxonMobil, Fuchs Group, Idemitsu Kosan Company Ltd., Lukoil, Petroleum Nasional Bhd, Petronas Lubricant International Sdn Bhd, Royal Dutch Shell, Sinopec, Total SA, and Valvoline.

What’s trending in the automotive lubricant market

• Exponential vehicle sales are the prime driver of the automotive lubricants market. Further, the need for improved efficiency and longer life cycles of automotive engines are prime factors boosting the market growth. Growing traffic condition reduces the replacement cycle of lubricants owing to the constant operation of moving parts. However, the volatility of raw material prices might hamper the market growth.

• data analyses the complete scenario of the automotive lubricants market, market segmentation, geographical analysis, companies, trends, and opportunities in the market.

• The market is further categorized based on the type and base oil. Engine lubricants are the leading segment of the market and would provide sustainable growth to the automotive lubricates exchange. By base oil, the market is segmented as mineral oil, synthetic oil, and others. Mineral oil holds a significant portion of the market owing to cost-effective lubrication solutions for the automotive.

• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.