Lucintel Forecasts the Global Automotive Lubricant Market to Reach $85.9 billion by 2030
Lucintel Forecasts the Global Automotive Lubricant Market to Reach $85.9 billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global automotive lubricant market looks promising with opportunities in the engine oil, gear and brake oil, transmission fluid, and grease applications. The global automotive lubricant market is expected to reach an estimated $85.9 billion by 2030 from $68.7 billion in 2024 at a CAGR of 3.8% from 2024 to 2030. The major drivers for this market are rising demand for high-performance and lightweight vehicles and escalating consumer preference towards sustainable lubricants.
A more than 150 – page report is developed to understand trends, opportunity and forecast in automotive lubricant market to 2030 by base oil (synthetic lubricants, semisynthetic lubricants, bio-based lubricants, and mineral oil lubricants), vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, and others), application (engine oil, gear and brake oil, transmission fluids, greases, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)..
Lucintel forecasts that mineral oil will remain the largest segment over the forecast period due to its multiple usage in mechanical components of vehicles, such as engine, transmission assembly, and brake assembly.
Within this market, engine oil is expected to witness the highest growth over the forecast period.
Download sample by clicking on automotive lubricant market
APAC is expected to witness highest growth over the forecast period due to growth in urbanization and industrialization, rising demand for passenger cars, and augmenting consumers disposable income in the region.
Indian Oil Corporation, BP, PetroChina, Exxon Mobil, FUCHS, Chevron, Valvoline are the major suppliers in the automotive lubricant market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cast visit Lucintel’s Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1 972.636.5056
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