Global Automotive Lubricants Market - Outlook at Pagtataya 2022-2027
- Ulat sa Market
- ID: NMT151GA
- Oras ng Paghahatid: 1 Araw ng Negosyo
- Tag: Automotive Lubricants
Pangkalahatang ideya ng Market
The automotive lubricants market is experiencing significant growth, with the market size estimated to reach USD 100.6 bilyon sa pamamagitan ng 2027, growing at a CAGR of 4.87%. Automotive lubricants are essential for minimizing friction in vehicles and play secondary roles in cleaning and cooling engine parts, as well as preventing rust and corrosion. Customers’ increasing demands for better-performing lubricants that enhance fuel economy and overall engine performance are driving changes in the market. Technological advancements are addressing diverse automotive needs such as extending engine shelf life, reducing carbon footprint, improving fuel efficiency, offering low viscosity lubricants, and meeting evolving vehicle emission standards. The rising use of passenger cars and commercial vehicles, particularly in emerging economies, is fueling the demand for automotive lubricants.
The automotive industry in countries like India, Tsina, Brazil, and South Korea is experiencing rapid growth. Sa nakalipas na ilang dekada, the global automotive market has expanded in terms of markets, production capacity, and competitive standards. Emerging economies such as India and China, with their large domestic markets, have attracted significant foreign direct investment (FDI) and established assembly plants for multinational corporations. Bukod pa rito, supportive industrial policies implemented by governments in these economies have increased production capacity in the automobile industry. As reported by the International Organization of Motor Vehicle Manufacturers, emerging economies have seen remarkable growth in the automotive sector since 2005 due to factors such as low-cost raw materials, skilled labor, and increased FDI.
Uri ng Produkto | Ulat sa Market |
---|---|
Hindi. ng Mga Pahina | 277 |
Petsa ng Paglabas | Jun-22 |
Taon ng Base | 2021 |
Panahon ng Pagtataya | 2022-2027 |
Laki ng Market | USD 75.6 bilyon sa 2020 |
Mga Segment ng Market | Uri ng Produkto, Grupo, Oil Type, at Heograpiya |
Rehiyon | Global |
Hindi. ng mga Kumpanyang Nabanggit | 25 |
Urbanization, changing lifestyles, and the growth of the middle-income population present significant opportunities for the automotive lubricants market. The World Bank states that approximately 75% of the global population resides in middle-income countries, with this population segment increasing by 1% annually. The rapid migration of people from rural to urban areas has led to substantial urbanization growth, with more than 80% of global GDP being generated in cities. Infrastructure and industrial development are key drivers of this urbanization trend. Sectors like automotive and information technology have thrived in emerging economies due to factors such as availability of low-cost raw materials, investments in research and development, affordable skilled labor, and quality infrastructure. Countries around the world are investing in green chemistry and circular economy practices to promote sustainable urbanization and protect the environment, creating a balance between infrastructure development and environmental preservation. These initiatives will contribute to the growth of the automotive sector and subsequently increase the demand for automotive lubricants.
The high investment in the automobile sector poses challenges for lubricant manufacturers, as the industry requires new lubricant formulations that are environmentally friendly while delivering high performance. Dagdag pa, different manufacturers have specific requirements for engine design, transmission assembly, gearbox, and brake systems. Kaya nga, lubricant companies need to collaborate with automobile manufacturers to develop and provide suitable lubricant products tailored to each vehicle’s specifications. Halimbawa na lang, the use of thinner engine oils can enhance fuel economy, but it may also affect engine functionality, posing a challenge for lubricant manufacturers.
Market Segmentation
Ang merkado ay segmented batay sa iba't ibang mga kadahilanan, including product type, group, oil type, at heograpiya.
Segmentation by Product Type
Engine Oil
Transmission Fluid
Hydraulic Fluid
Ang iba naman
Segmentation by Group
Commercial vehicles
Two-wheelers
Passenger Car
Ang iba naman
Segmentation by Oil Type
Mineral Oil
Fully Synthetic Oil
Semi-Synthetic Oil
Biobased lubricant
Segmentasyon ayon sa Heograpiya
Hilagang Amerika – US, Canada
Europa – Alemanya, Pransiya, UK, Italya, Espanya, Rusya
APAC – Tsina, Hapon, India, Timog Korea, Indonesia
Latin America – Brazil, Mexico
Middle East & Africa – Timog Aprika, Iran, Iraq
Engine oil, the most commonly used automotive lubricant in internal combustion engines, plays a crucial role in engine performance by safeguarding moving parts against wear and tear. Comprised of base oils and various additives, engine oil possesses a wide range of properties. As automotive manufacturers heavily invest in research and development, the production of high-performance engine oils that enhance fuel efficiency is anticipated to drive the market forward.
Among various segments, the commercial vehicle segment holds the largest share. This segment encompasses trucks, buses, vans, heavy transport trailers, at iba pa, primarily utilized for transporting goods, materials, and passengers. Commercial vehicles commonly employ diesel engines due to their superior torque and fuel efficiency. These vehicles often utilize high horsepower engines and modular transmission assemblies with increased gearbox gear ratios to transmit power efficiently. Dagdag pa, commercial vehicle manufacturers incorporate air brake assemblies that utilize hydraulic fluid to improve handling. Given the complex functionality of commercial vehicles, high-quality automotive lubricants are necessary to ensure optimal performance. The rising demand for commercial vehicles driven by population growth, environmental sustainability efforts, and urbanization is expected to increase lubricant consumption in this segment.
Mineral oil-based lubricants are renowned for their excellent lubricating properties and find application in various mechanical components, including engines, transmission assemblies, and brake assemblies, operating within a temperature range of -17°C to 150°C. An advantage of mineral oils is their compatibility with many additives, allowing for the enhancement of overall automotive vehicle performance. Mineral oils also demonstrate compatibility with numerous grease thickener systems. Bukod pa rito, mineral oils are cost-effective compared to synthetic oils. In emerging economies like China, India, Brazil, Rusya, Timog Korea, and Mexico, where price sensitivity among consumers is prominent, the demand for mineral oil-based lubricants is predicted to surge.
The Asia-Pacific (APAC) region stands as the largest market for automotive lubricants. Factors such as rapid urbanization, increasing disposable income, growing demand for passenger cars, the rising adoption of new energy vehicles, and expanding industrialization contribute to the demand for automotive lubricants in APAC. Countries such as China, India, Hapon, and Indonesia demonstrate significant consumption of automotive lubricants due to the escalating demand for passenger cars and two-wheelers. Dagdag pa rito, APAC benefits from low labor and raw material costs, along with government initiatives promoting Foreign Direct Investment in the automotive industry and related sectors, further fueling the demand for automotive lubricants in the region.
Mapagkumpitensya na Landscape
Key market players in the automotive lubricants industry have implemented various strategies to foster growth. Companies within this sector engage in strategic competition, encountering challenges related to sustainable processes and initiatives on a global scale. Technological advancements, environmental concerns, and economic challenges are driving the demand for innovative and sustainable automotive lubricant products.
Prominent players in the automotive lubricants market include Exxon Mobil Corporation (US), British Petroleum (UK), Shell (Netherlands), Gulf Oil (US), Idemitsu (Hapon), Castrol (US), Fuchs (Alemanya), and Chevron Corporation (US). These companies have employed strategies such as expansion, agreements, bagong pag unlad ng produkto, mga joint venture, bukod sa iba pa, with the goal of augmenting their revenues in the automotive lubricants market.
The report covers the forecast period from 2022 sa 2027, with the base year being 2021, for the automotive lubricants market. It provides segmentation based on types, vehicle types, oil types, and geography for the specified years. The report offers a comprehensive analysis of the automotive lubricants market, facilitating efficient market evaluation for customers.
Key companies profiled in this report include ExxonMobil Corporation, Shell PLC, Total Energies, Chevron Corporation, Castrol Limited, BP PLC, SINOPEC, Philips 66, Hindustan Petroleum Corporation Limited, GS Caltex Corporation, Idemitsu Kosan Co., Ltd., FUCHS, Kuwait Dana Lubes Company, Bharat Petroleum Corporation Limited, Valvoline Inc., Indian Oil Corporation Limited, Gulf Oil International limited, Petro-Canada Lubricant Inc., Liqui Moly, Ravensberger Schmierstoffvertrieb GmbH (Ravenol), Motul, Repsol, Petroliam Nasional Berhad (PETRONAS), Pennzoil, Behran Oil Co.
Mga Mahahalagang Tanong na Nasagot
WHAT IS THE SIZE OF THE AUTOMOTIVE LUBRICANTS MARKET?
The global automotive lubricants market is projected to reach USD 100.6 bilyon sa pamamagitan ng 2027.
WHAT ARE THE DRIVERS OF GROWTH IN THE AUTOMOTIVE LUBRICANTS MARKET?
The growth of the automotive lubricants market is driven by factors such as the increasing demand for alternate engine powertrains, usage of Group II and III base oils, and the rapid growth in urbanization and middle-income population.
WHO ARE THE MAJOR PLAYERS IN THE AUTOMOTIVE LUBRICANTS MARKET?
ExxonMobil Corporation, Shell PLC, Total Energies, Chevron Corporation, and Castrol Limited are key vendors in the automotive lubricants market.
WHAT ARE THE RECENT TRENDS IN THE AUTOMOTIVE LUBRICANTS MARKET?
Some of the latest trends in the automotive lubricants market include innovations aimed at achieving more efficient and high-performance engines, as well as a focus on improving sustainability standards related to productivity and profitability.
WHICH REGION HAS THE LARGEST MARKET SHARE IN THE AUTOMOTIVE LUBRICANTS MARKET?
North America currently holds the largest share in the automotive lubricants market.
USD 3,500 Orihinal na presyo ay: USD 3,500.USD 2,100Ang kasalukuyang presyo ay: USD 2,100.