Automotive Lubricants Market Size Worth USD 104.7 Billion by 2032 | CAGR of 3.1%: IMARC Group

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, September 17, 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. 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 undergoing steady growth, driven by increasing vehicle production and sales, advancements in lubricant technologies, and growing awareness of vehicle maintenance. Automotive lubricants are essential for ensuring the smooth operation and longevity of vehicle engines and components, and their demand is influenced by factors such as rising vehicle ownership, regulatory standards, and technological advancements in lubricant formulations.

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Automotive Lubricants Market Scope and Growth Analysis:

The scope of the global automotive lubricants market encompasses a range of products including engine oils, transmission fluids, and other specialty lubricants used in various vehicle types, from passenger cars to commercial vehicles. Market analysis highlights the shift towards synthetic and semi-synthetic lubricants, driven by their superior performance, extended oil change intervals, and better fuel efficiency. The competitive landscape is characterized by the presence of major lubricant manufacturers, oil companies, and regional players. Key factors driving market growth include the increasing number of vehicles on the road, the rise in disposable incomes, and the growing emphasis on vehicle maintenance and performance.

Additionally, stringent emissions and fuel efficiency regulations are influencing the development of advanced lubricants that meet high-performance standards. As the automotive industry continues to change with innovations such as electric vehicles and hybrid powertrains, the global automotive lubricants market is expected to adapt and grow, supported by ongoing advancements in lubricant technology and the expanding automotive sector.

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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 global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Browse Other Report of IMARC Group:

Automotive Coolant Market Size, Share, Growth and Report

Automotive Intercooler Market Size, Share, Growth and Report

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