Global Lubricants Market by Type of Lubricant (Automotive Lubricant)
The Global Automotive Lubricants market is segmented by type of lubricant into Passenger oil, heavy duty diesel engine oil, hydraulic oil, gear oil & greases. Motor oil is projected to dominate the Global lubricants market in the upcoming years.
Global Lubricants Market By Type Of End Use (Industrial Lubricant)
The Global Industrial Lubricants market is segmented by type of end use into Metal production, general manufacturing, food industry, commercial & others. Transportation is anticipated to be the largest end –use industry. The high demand can be attributed to high demand in railway, aviation & marine sector.
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Global Lubricants Market by Type of END USE (Automotive Lubricant)
The Global Automotive Lubricants market is segmented by type of end use into Commercial vehicle, passenger car, motor cycle, marine, others. Commercial segment is expected to grow at a fast pace. Reason being, rapid industrialization.
Competition Scenario In Global Lubricants Market
The Global Lubricants market is consolidated with major players occupying almost half of the market. The key players operating in the market are not only competing based on product quality and promotion but are also focusing on strategic moves to hold larger market shares. The major companies dominating the Global Lubricants market for its products, services, and continuous product developments are Castrol, Saudi Aramco, Chevron, Gulf, Fuchs, Petromin, Valvoline, Total Energies among others.
What is the Expected Future Outlook for the Global lubricants Market Across the globe?
The Global lubricants market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global lubricants market is driven by is driven by rapid industrialization, rise in process automation in most of the industries & an increase in the number of on-road vehicles. Moreover, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market. However, volatile crude oil prices & environmental norms can possibly hinder the market growth.
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The Global Lubricants market is expected to grow at a steady rate during the period 2022-2027. The market is driven by rapid industrialization, rise in process automation in most of the industries & an increase in the number of on-road vehicles. Moreover, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market. However, volatile crude oil prices & environmental norms can possibly hinder the market growth. The rising possession of passenger cars & rapid industrialization is expected to contribute to the market growth over the forecast period. The market is expected to grow at a ~% CAGR during 2022-2027 owing to high penetration with multiple players.
Key Target Audience
- Lubricants Manufacturers
- Lubricants Distributors
- Base-oil Companies
- Additive Companies
- Refining Companies
- Construction and Mining Industry
- General Manufacturing Industry
- Metal Production Industry
- Power Generation Industry
- Food Processing Industry
- Agriculture Industry
- Medical Industry
- Automotive OEMs
Time Period Captured in the Report:
- Historical Period:2017-2022
- Base Year: 2022
- Forecast Period: 2022-2027
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