Global Automotive Power Steering Fluid Market 2018-2022

Overview of the global automotive power steering fluid market

Power steering fluids consist of mineral-based and synthetic oil-based fluids. The synthetic oil-based power steering fluids are highly preferred due to its many benefits. According to Technavio’s automotive power steering fluid market research report, the advantages of synthetic oil-based power steering fluids will be one of the major factors that will have a positive impact on the automotive power steering fluid market growth during the forecast period. Synthetic power steering fluids offer improved vehicle performance, that provides the best steering feel and is known to possess superior weather-protection properties particularly in extremely cold climates. In addition, the synthetic oil-based power steering fluids also offer reduced friction and consists of thermal management properties that ensure maximum vehicle efficiency and improved wear and tear properties. Technavio’s automotive power steering fluid market research predicts that this global market will post a revenue of more than USD 740 million by 2022.

The rising development of multi-grade lubricants is one of the key trends that will contribute to the market’s growth in the forthcoming years. Multi-grade oils are highly chosen mainly due to its enhanced cold pumpability. Several countries in North America and Europe face harsh winters and the utilization of multi-grade oils assist in lowering the lead start-up time periods in cold temperatures. Also, the multi-grade oils provide increased protection of vehicle systems during winters and help in improving the mileage figures of the vehicles.

What's your takeaway?

Technavio's industry research report on the global automotive power steering fluid market 2018-2022 will help you-

• Identify latent opportunities and explorative solutions in the automotive power steering fluid market
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, applicable across 50+ countries

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Companies covered

Characterized by the presence of several players, the automotive power steering fluid market appears to be fragmented. This industry research report offers information about the competitive environment among the players in the market and offers an analysis of key companies and their products. Additionally, our analysts also offer information about key areas the players currently focus on and strategies they follow to sustain the competition.

This research report provides an analysis of various companies in this market including

• AMSOIL
• Exxon Mobil
• Lucas Oil Products
• Shell
• Valvoline

Geographical segmentation and analysis of the automotive power steering fluid market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the automotive power steering oil market throughout the forecast period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2022?
• What are the key factors driving the global automotive power steering fluid market?
• What are the key market trends impacting the growth of the global automotive power steering fluid market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive power steering fluid market?
• What are the market opportunities and threats faced by the vendors in the global automotive power steering fluid 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 power steering fluid market?

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