Global Automotive Lubricants Market 2017-2021

Overview of the global automotive lubricants market

Market research analysts at Technavio predict that the global automotive lubricants market will grow steadily at a CAGR of around 5% by 2021. The rise in fuel economy benefits due to stringent norms is identified as one of the primary growth factors for this market. The increasing levels of vehicular pollution have compelled the governing bodies of many countries to update their vehicle emissions norms at regular intervals. Countries such as China and the US are analyzing various solutions for lowering the dependency on petroleum-based fuels for energy and power. The implementation of fuel efficiency standards will encourage OEMs to increase the mileage of vehicles. This will in turn, push the demand for efficient lubricants that can assist in increasing the fuel economy of vehicles. For instance, the European Commission (EC) is looking at implementing fuel efficiency regulations for M&HCVs by 2018. It has also mandated that all the new vehicles in Europe should carry emissions labels that display the miles per gallon (mpg) and average carbon dioxide emissions (gCO2/km) to help drivers choose a fuel-efficient vehicle. This will induce OEMs to improve the composition of lubricants to enhance the efficiency of the engine.

The rising utilization of multigrade lubricants is one of the latest trends that will contribute to the growth of this market in the coming years. The usage of multigrade lubricants in Europe and North America is high due to their better cold pump-ability. Many countries in North America and Europe often face harsh winters. As a result, the engine start-up procedure is often delayed.  Multigrade oils offer improved performance in cold temperatures as they reduce the lead start-up time. The popular SAE 10W-30 conformant lubricants used in these regions consist of special polymer additives that keep the viscosity of the formulation constant despite a change in temperature. Therefore, cold weather protection and better mileage performance propel most consumers to opt for multigrade oils.

What's your takeaway?

Technavio's industry research report titled, Global Automotive Lubricants Market, will help you-

• Identify latent opportunities and explorative solutions in the automotive lubricants market
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, all permutations and combinations inclusive

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Competitive landscape and key vendors  

The automotive lubricants market is fragmented with the presence of numerous global and local players. The key vendors are expanding their customer base and are increasing their investments in R&D to address the rising need for efficient and effective engine cooling systems. The competition in the market is mainly based on factors such as quality, availability, customer relationship, and pricing. A number of companies are trying to innovate and patent new products at a rapid pace and technological innovations will be a crucial parameter in the retention and acquisition of market shares.

The leading vendors in the market are -

• Shell
• ExxonMobil
• BP
• Chevron Corporation

The other prominent vendors in the market are Bharat Petroleum Corporation, Gulf Oil, Indian Oil Corporation, Motul, China Petrochemical Corporation, and Total.

Segmentation by application type and analysis of the automotive lubricants market

• Passenger cars
• M&HCV
• LCV

During 2016, the passenger cars segment accounted for the major shares of the automotive lubricants market. Factors such as the increasing sales of passenger cars and their high comsumption of engine oils will contribute to the growth of this market segment in the coming years. Additionally, the stringent fuel economy norms that drive the OEMs to manufacture smaller displacement engines for the passenger cars will also boost the demand for automotive lubricants in the global market. 

Geographical segmentation and analysis of the automotive lubricants market

• Americas
• APAC
• Europe

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the automotive lubricants market throughout the forecast period. The presence of a number of potential first-time buyers of passenger cars and the rise in per-capita income of the consumers that leads to a strong growth in the sales of passenger cars, will be the major factors driving the growth of the market for automotive lubricants in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive lubricants market?
• What are the key market trends impacting the growth of the global automotive lubricants market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive lubricants market?
• What are the market opportunities and threats faced by the vendors in the global automotive lubricants market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive lubricants market?

Technavio also offers customization on reports based on specific client requirement.

A lubricant is a substance introduced to minimize friction between surfaces in contact. Consequently, it reduces the heat generated when the surfaces move. This impending industry research report on the global automotive lubricants market offers insights into the key trends and emerging drivers influencing the growth of the automotive industry. Our market research reports for the automotive industry also follow an extensive data collection methodology and offer an analysis of fast growing market segments like automotive components.

By considering the market forecast and market size, surging demand for various automotive components, the market research experts at Technavio offer an all-inclusive picture of the automotive lubricants market for the estimated period of 2017 to 2021. Furthermore, our research practices support clients devise effective growth strategies and compete with the continually changing market landscape. This market study also offers an extensive analysis of various automotive components based on the inference of the information gathered from specific resources such as channel partners and market stakeholders. This upcoming market research report on the automotive lubricants market also covers vendors like BP, Chevron, Exxon Mobil, Shell, Sinopec, Total, and Bharat Petroleum.

This upcoming industry report on the automotive lubricants market also considers the growth of the related markets such as the fuel filter market, which is expected to grow at a CAGR of above 4% during the forecasted period. According to our research analysts, growing automotive sector may fuel the demand for lubricant in both OEM and aftermarket segments during the next few years. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the automotive lubricants market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report for automotive lubricants market also categorizes the key drivers, major trends, as well as the restraints that the automotive components sector currently experiences. It also presents insights into the dynamically changing competitive scenario to give clients a complete view of the industry. Technavio also provides deep-dive market assessments into the sectors such as automotive accessories and automotive electronics.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.