Apr 30, 2019 (Heraldkeeper via COMTEX) — New York, May 01, 2019: The automotive lubricants market is expected to exceed more than 598 million Gallons by 2024; Growing at a CAGR of more than 8% in the given forecast period.
An automotive lubricant is a material used to minimize friction among surfaces, and minimize the heat which produces from movable surface. The main characteristics of lubricant are to reduce friction, called as lubricity. A lubricant having many functions such as cooling and heating the surfaces, transporting foreign particles and transmitting forces. It acts very important role in reducing wear and tear and friction in automobiles. High quality lubricant having various properties such as high resistivity to oxidation, low freezing point, thermal stability, corrosion prevention, high viscosity index and high boiling point.
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The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include 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. among others. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The scope of the report includes a detailed study of global and regional markets for various types of automotive lubricants market with the reasons given for variations in the growth of the industry in certain regions.
The major driving factors of automotive lubricants market are as follows:
Rising disposable profit will increase the sale of vehicles
Growing demand for heavy duty vehicles and light passenger vehicles
The restraining factors of automotive lubricants market are as follows:
Explosive price of raw materials
The Automotive lubricants Market has been segmented as below:
The Automotive lubricants Market is segmented on the Basis of Type Analysis and Regional Analysis.
By Type Analysis this market is segmented on the basis of Grease and Transmission Fluids,
Gear Oil and Engine Oil. By Regional Analysis this market is segmented on the basis of North America, Europe, Asia-Pacific, Middle East and Africa and Rest of the World.