Fact.MR’s latest forecast study estimates that the global automotive lubricant market will expand at a value CAGR of 5.4% over the forecast period, 2017-2026. In terms of volume, the report estimates that more than 45,350 Mn Liters of automotive lubricants will be sold globally by the end of 2026.
Lucrative outlook of automotive to resonate high demands is accounted to fetch concomitant growth in automotive lubricant market. Automotive lubricants play a defining role in ensuring optimal capabilities of engines. Innovative combustion engine designs also leverage considerable innovations, encouraging market participants to offer enhanced viscosity to enable improved functional attributes of engines. Superlative engine quality remains crucial for low vehicle emissions. Stringent emission control norms are likely to further augment greater adoption of vehicle lubricants, thereby entailing tremendous growth potential in automotive lubricant market.
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Advanced additives are frequently adopted to improve functional capabilities of automotive lubricants. Significant advances in additive improvisation such as inclusion of advanced polymers to enable greater performance is a dominant trend in automotive lubricant space, allowing to market to entail swelling growth. Increased production of lubricants is further anticipated to stem from advancements in lubrication systems of vehicles that favor an optimistic growth outlook in the coming years.
As populations continue to soar globally, emerging economies in Asia-Pacific region have witnessed massive raise in vehicle ownership. Additionally, growing number pf on-road vehicles to ferry men and material is also anticipated to propel stupendous adoption of automotive lubricants. Emergence of advanced vehicles such as electric cars and hybrid cars are also expected to expedite adoption rates, thereby fetching immense growth potential in automotive lubricant market.
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Insights on How Global Automotive Lubricants Market will Evolve by 2026
- Gear oil segment in the in the lubricants type category is forecasted to exhibit a robust CAGR during the period of assessment and is estimated to reach a value of nearly US$ 22,400 Mn by the end of 2026. The gear oil segment was expected to account for nearly one-fifth of the revenue share of the lubricants type category by the end of the year 2017.
- Semi-synthetic oil segment in the base oil type category is forecasted to exhibit a CAGR of 6.1% during the period of assessment and is likely to reach a valuation of nearly US$ 57,800 Mn by 2026 end. The semi-synthetic oil segment was expected to account for nearly half of the revenue share of the base oil type category by 2017 end and is expected to gain market share during the forecast period.
- The LCV segment in the vehicle type category was forecasted to exhibit a moderate CAGR during the period of assessment and is expected to reach a valuation of nearly US$ 23,525 Mn by the end of 2026. The LCV segment was estimated to account for more than one-fifth of the revenue share of the vehicle type category by 2017 end.
Automotive Lubricant Market: Competition Landscape
This section of the report offers a detailed section on key contributors in automotive lubricant market. A dashboard view of each of the mentioned profiles complete with detailed insights on their respective SWOT analysis along with detailed assessment of their product portfolio, market contribution, as well as recent developments have been slated to aid readers’ understanding about the competition spectrum. Total S.A., Royal Dutch Shell plc, Valvoline Inc., Quaker Chemical Corporation, Nippon Oil, Exxon Mobil, Chevron, British Petroleum, Fuchs Group, AMSOIL INC. and Buhmwoo Chemical Ind. Co., Ltd. have been recognized as key players in the global automotive lubricant market. Catering to the customized lubrication needs of vehicle owners and OEMs will be among a key manufacturing trend in the future of global automotive lubricant market.
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