Market Size – USD 71.65 Billion in 2018, Market Growth – CAGR of 4.65%, Market Trends – Product launches and research for Automotive Lubricants Market
The global Automotive Lubricants Market is expected to reach USD 107.22 Billion by 2026, according to a new report by Reports and Data. Over the past few months, the oil price rally has rewarded those taking part in output cuts and has also discharged a new wave of growth from the United States. The oil markets now look adequately supplied through 2020 coupled with gains from Brazil, Canada, and Norway. A solid increase in oil demand is expected aiding to strong world economy growth in the next five years. According to the International Monetary Fund, in the next five years the global economic growth is expected to set at 3.9%. Strong economies will use more oil and it is anticipated that the demand will grow at an average annual rate of more than 1.2 mb/d during the forecasted period. Petrochemicals are the fastest growing source of global oil demand precisely in United States and China.
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Scope Of The Report
The study aims to provide a forecast of the growth of the Automotive Lubricants market by examining the market size, share, demand, trends, and gross revenue of the industry. Further, it provides a competitive analysis and SWOT analysis. The report segments the industry based on product type, application and end-use. It highlights the emerging trends as well as the novel technology that are visible in the market. The research offers a clear look at the trends observed in the market, the contributing factors, major stakeholders, key companies and prime areas that exhibit a potential for growth.
Further key findings from the report suggest
- The market for Engine Oil segment is projected to grow significantly and owing to the increase in consumption of engine oil. Countries like India accounts in excess of 2.5 billion liters of annual engine oil consumption including the aftermarket and is growing at 2-2.5% per anum.
- The passenger car segment will grow at a CAGR of 4.9% during the forecasted period owing to the increase in the disposable income of the people and steady global economic growth.
- The shale revolution in United States has unleashed major source of cheap domestic feedstock. One of the key advantages of the global economic growth is that it is lifting more people into the middle class in developing countries and higher incomes mean sharply increasing the demand for consumer goods and services
- Asia Pacific region is estimated to grow significantly due to the at a CAGR of 41% owing to the increase in adoption of new vehicles as well as the increase in adoption of high-tech automotive lubricants fuel the demand for automotive lubricants
- Key participants include ExxonMobil Corporation(U.S.A), Chevron Corporation (U.S.A), Fuchs Lubricants Co. (U.S.A), ConocoPhillips Corporation (U.S.A), LUKOIL Oil Company (Russia), IDEMITSU Kosan Co. Ltd. (Japan), Royal Dutch Shell plc (Netherlands), Total S.A. (France) and Valvoline (U.S.A)., Castrol (U.K.)
Browse Complete Automotive Lubricants Market Report Description & TOC at: https://www.reportsanddata.com/report-detail/automotive-lubricants-market
The research provides answers to the following key questions:
- What will be the growth rate of the Automotive Lubricants market for the forecast period, 208 to 2026? What will be the market size and the share occupied by the prominent vendors by the estimated period?
- What are challenges and threats faced by the prominent vendors operating in the Automotive Lubricants market?
- Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?
- What are the past, present and emerging trends likely to influence the growth rate of the Automotive Lubricants market for the forecast period, 2018 to 2026?
- What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?
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