Jersey City, New Jersey, Dec. 14, 2022 (GLOBE NEWSWIRE) — Verified Market Research® recently published a report, “Automotive Lubricants Market” By Product (Engine Oil, Gear Oil, Grease, and Others), By Type (Mineral Oil Lubricants, Synthetic Oil Lubricants, Semi-Synthetic Lubricants, and others), By Vehicle Type (Passenger Cars, Light-Weighted Commercial Vehicles, Heavy-Weighted Commercial Vehicles, and others), and By Geography.
As per the deep research carried out by Verified Market Research®, the global Automotive Lubricants Market size was USD 82.9 Billion in 2020 and is projected to reach USD 115.2 Billion by 2028, growing at a CAGR of 5.01% from 2021 to 2028.
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Browse in-depth TOC on “Automotive Lubricants Market”
202 – Pages
126 – Tables
37 – Figures
Global Automotive Lubricants Market Overview
Car performance is improved and automotive parts are protected when friction between surfaces and points of contact, is reduced. Additionally, it might be used to move particles, transmit forces, heat, or cool surfaces. The lubricant serves two crucial functions. Controlling wear and friction is one. It is accomplished by using a Lubricants film to divide two interacting machine surfaces. The lubricant creates a layer that lessens friction so that there isn’t immediate metal-on-metal contact. Controlling temperature plays a significant significance as well.
At the location where the components interact, heat is produced. This heat can be absorbed by the lubricant, carried away from the component, and released in a sump or a cooler. Transportation equipment, industrial equipment, boats, metalworking oil, etc. all use lubricants extensively. For instance, the Gulf has created a variety of automotive lubricants for tractors, light and large commercial vehicles, bikes, scooters, and cars, including engine oils, gear oils, greases, and advantages. Windshield wiper blades, sunroofs, and windows are all reliably weather-protected by specialist lubricants. Additionally, they are employed for power transmission, heat transfer, and rust and corrosion protection.
The automotive lubricants market is expanding because of increased consumer spending power, rising high-performance vehicle specifications, and rising vehicle demand. For instance, the International Organization of Motor Vehicle Manufacturers reports that global car manufacturing rose from 58.3 million in 2010 to 72.1 million in 2016. The demand for lubricants is rising along with the demand for vehicles.
In order to ensure the proper and improved performance of consumer and industrial vehicles, automotive lubricants are essential. For instance, tractor engine oil not only safeguards and ensures the high performance of the tractor in service climate and field conditions but also makes it easier for better hardware compatibility. Additionally, the market is experiencing expansion due to steps done by vendors to increase the manufacturing of passenger and commercial cars as well as to strengthen the protection of automotive systems.
Additionally, as smaller and more sophisticated automotive systems become more prevalent, the demand for low-viscosity and better-performing lubricants rises, creating a huge opportunity for the market. The development of the market, however, may be hampered by advancements in vehicle technology and the limited impact of electric vehicles. Because of their numerous advantages, including higher fuel efficiency, synthetic lubricants are becoming more widely used in the automotive industry.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Automotive Lubricants Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
The “Global Automotive Lubricants Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Exxon Mobil, BP Plc, Chevron, SINOPEC, Valvoline, Total, Royal Dutch Shell, Amsoil Inc, Motul, and SK Lubricants.
Based on the research, Verified Market Research® has segmented the global Automotive Lubricants Market into Product, Type, Vehicle Type, and Geography.
- Automotive Lubricants Market, by Product
- Engine Oil
- Gear Oil
- Automotive Lubricants Market, by Type
- Mineral Oil Lubricants
- Synthetic Oil Lubricants
- Semi-Synthetic Lubricants
- Automotive Lubricants Market, by Vehicle Type
- Passenger Cars
- Light-Weighted Commercial Vehicles
- Heavy-Weighted Commercial Vehicles
- Automotive Lubricants Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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