Market Research Engine has published its new report titled “Automotive Lubricants Market By Type (Grease and Transmission Fluids, Gear Oil, Engine Oil) – Global Industry Analysis and Forecast 2016 – 2021”.
The market of global automotive lubricants is expected to reach more than 475 million gallons by 2021. Also, it is projected to register a compound annual growth rate (CAGR) of more than 8% during the forecast period.
The rising disposable profit will increase the sale of vehicles thereby drive the automotive lubricants market. In addition, the growing demand for heavy-duty vehicles and light passenger vehicles are expected to fuel the growth of the market. However, the explosive price of raw materials is expected to hamper the growth of the automotive lubricants market.
In this report, the global automotive lubricants market is segmented by type and region. The market on the basis of type is segmented into grease and transmission fluids, gear oil, and engine oil.
The global automotive lubricants market is segmented on the basis of key regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Asia Pacific is expected to the largest market in 2016 and is expected to continue the same trend during the forecast period.
Furthermore, each region is segmented to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, India, Brazil, and GCC countries.
The report includes a detailed study of the global and regional automotive lubricants market and analyzes the variations in the growth of the industry in certain regions.
BP Plc, Chevron Corporation, ExxonMobil Corporation, ConocoPhillips Corporation, Fuchs Lubricants Co., LUKOIL Oil Company, Royal Dutch Shell Plc, Total S.A., Valvoline, Idemitsu Kosan Co. Ltd., The JX Nippon Oil & Energy Co., and Repsol S.A. are the most active players in the automotive lubricants market.
The deep-dive study on the automotive lubricants market will help customers with the identification of new market opportunities and targeted promotional plans.
The report provides global market trends, with data from 2013, estimates for 2014 and 2015, and projections of CAGRs through 2021.