Automotive Lubricants Industry 2018: Industry Expected to Experience a PositivePosted by Nicky Arora on October 16th, 2019 The Global Automotive Lubricants Market is expected to reach USD 87.1 billion by 2025, according to a new report by Grand View Research, Inc. High engine oil demand in passenger cars, diesel trucks, and light-duty trucks is expected to drive global automotive lubricants industry growth over the forecast period. Rise in middle class, urbanization, and growing disposable income in developing countries have led to greater passenger car sales. On a parallel level, economic growth in these regions has promoted trade, leading to the growth of transportation sector. These factors combined have led to increased lubricants consumption. Engine oil segment is the largest contributor to automotive lubricants market which was around USD 34 billion in 2016. Engine oil is widely used in passenger cars, diesel trucks, and light-duty trucks. They help to maintain the viscosity, ensure dependability and reduce engine wear. Increasing drain intervals and formulation of high performance oils to impact their consumption, thereby growth. Further key findings from the report suggest:
Access Full Info @ https://www.grandviewresearch.com/industry-analysis/automotive-lubricants-market/request/rs1 Grand View Research has segmented the global automotive lubricants market on the basis of product and region: Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025) North America o U.S. o Canada Europe o Germany o U.K. o Russia Asia Pacific o China o India o Japan o South Korea Latin America o Brazil o Mexico Middle East & Africa o Saudi Arabia o UAE o South Africa About Grand View Research: Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide. Contact: Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105 United States Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Like it? Share it!More by this author |