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Oct 27, 2020 (The Expresswire) —
The globalAutomotive Lubricants Marketsize is expected to reachUSD 79.91 billion by 2026, exhibiting aCAGR of 1.58%during the forecast period. The growing adoption and popularity of synthetic lubricants in the automotive sector will have a positive impact on the automotive lubricants market growth during the forecast period.
The COVID-19 pandemic has led to severe repercussion owing to its widespread effects across several economies. Multiple industries are facing unprecedented economic loss owing to the lockdown announced by the governments across the globe that has resulted in the complete shutdown of businesses. The crippling economy, however, is being revived through collective efforts from the government, as well as the industries and is expected to bounce back in the near future.
Key Question Answered inreport:
- Business Opportunities
- Commerce Challenges
- Demand Insights
- CAGR Values
- Historic Analysis
- Detailed Segmentation
- Top Companies Data
- Market Size
- Supply Trend
- Target Audience
- Key Geographies
The growing innovation in lubricants has improved the overall of quality, which has led to extended oil drain and service intervals, better fuel efficiency, and a more extended protection period. This factor will spur demand for lubricants, which in turn, will enable speedy growth of the market. Besides, the increasing awareness regarding the benefits of synthetic lubricants among consumers will aid the market revenue for automotive lubricants in the foreseeable future.
According to the published report by Fortune Business Insights, titled“Automotive Lubricants Market Size, Share and Industry Analysis, By Oil Type (Synthetic, Semi-synthetic, and Conventional or mineral), By Product Type (Engine Oil, Gear Oil, Transmission Fluids, Coolant and Brake Fluid and Greases), and Regional Forecast, 2019-2026)”the market size stood at USD 70.25 billion in 2018. The report automotive lubricants market report focuses and elaborates the definition, types, applications, and major players in detail.
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COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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List of the Key Companies Operating in theAutomotive Lubricants Market are;
- Royal Dutch Shell PLC
- Exxon Mobil
- BP p.l.c.
- China National Petroleum Corporation
- IDEMITSU KOSAN
- FUCHS PETROLUB SE
- JXTG Nippon Oil and Energy Corporation
- Valvoline LLC
Deep analysis about automotive lubricants market position, competition model, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis.
From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors, and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivaled data in a well-organized manner.
Browse Summary of This Research Insights with TOC:https://www.fortunebusinessinsights.com/automotive-lubricants-market-102681
Inauguration ofLubricant Laboratory by Royal Dutch Shell to Propel Market
Royal Dutch Shell, a British-Dutch oil and gas company headquartered in the Netherlands inaugurated the first-ever lubricant laboratory in India. The new lab will help the company to expand and strengthen its RandD activities in the world as well as India. The lab can play an imperative role in uplifting the automotive lubricants market share during the forecast period due to the technologies to co-engineer products that will help OEMs in improving the efficiency and reliability of their equipment along with business development support and maintenance activities of Indian customers.
Besides, Country Head, Shell Lubricants India, Mansi Tripathy said in a statement, “OEM partnerships are the main pillars of our technology leadership. At Shell, we are significantly investing in the RandD of lubricants that help us pioneer solutions to support the evolving needs of OEMs and customers.” She further added, “the lubricants laboratory is an important milestone in our journey to serve our customers better, accurately matching their requirements. In addition to serving OEMs, this laboratory will also enable us in developing performance data of Shell-branded products relevant to Indian customers. We are proud to lead the way as RandD specialists in serving customers around the world.”
Burgeoning Automotive Industry to Augment Growth in Asia Pacific
Europe is predicted to witness high growth during the forecast period owing to the high consumption of lubricants in the region. The growing demand for high quality and efficient lubricants from the consumers will promote automotive lubricants market trends in Europe. However, the increasing sales of electric vehicles along with stringent environmental regulations by the government will hamper growth of the market during the forecast period.
The market in North America stood at USD 14,168 billion in 2018 and is expected to witness steady growth during the forecast period owing to the growing demand for commercial vehicles in the region.
Asia Pacific is expected to witness significant growth in the forthcoming years owing to the surge in on-road vehicles in countries such as China, Japan, India and South Korea. Moreover, the flourishing automotive industry in Asia Pacific will contribute positively to the growth in the region.
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Detailed Table of Content:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Automotive Lubricants Market Analysis, Insights and Forecast, 2015-2026
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Browse Releated Reports
Lubricants MarketSize, Share and Industry Analysis, By Type (Automotive, Industrial, Marine Oil and Process Oils), By Grade (Mineral, Synthetic and Semi-synthetic), By Application (Automotive, Industrial and Others), and Regional Forecast 2019-2026
Marine Lubricants MarketSize, Share and Industry Analysis, By Product (Marine Cylinder Oil, Piston Engine Oil, System Oil and Others; By Ship Type (Bulk Carrier, Oil Tankers, General Cargo, Container Ships, Others), and Regional Forecast, 2019-2026
Aviation Fuel MarketSize, Share and Industry Analysis By Fuel (Jet Fuel (Aviation Turbine Fuel), Avgas, Bio Jet Fuel), By End User (Commercial, Private, Military) And Regional Forecast 2019-2026
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To view the original version on The Express Wire visit Automotive Lubricants Market Demand Analysis in 2020, Global Revenue, Top Companies Growth Forecast to 2026
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