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.
Metrics |
Details |
Market CAGR |
1.5% |
Segments Covered |
By Type, By Oil Base, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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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.
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.
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