Automotive lubricants 2018 global industry key players, share, trend, segmentation and forecast to 2027 – marketwatch gas monkey live

##

Increasing number of automobiles globally and rapid surge in commercial activities has been one of the key factors of growth in the Automotive Lubricants Market. Growing number of passenger cars, growing popularity of Motor Sport and Auto Racing has also contributed to the growth of the Automotive Lubricants Market. Increasing demand for passenger and commercial vehicles is also going to fuel the demand in the Automotive Lubricants market.

ExxonMobil Corporation(U.S.A), Chevron Corporation(U.S.A), Fuchs Lubricants Co.(U.S.A), ConocoPhillips Corporation(U.S.A), BP plc (U.K.), LUKOIL Oil Company (Russia), IDEMITSU Kosan Co. Ltd.(Japan), Royal Dutch Shell plc (Netherlands), Total S.A. and Valvoline (U.S.A) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Lubricants Market.

Use of lubricants is very essential in automobiles for friction/ Wear, heat generation, combustion products, sealing and material protection. The use of automotive lubricants as engine oil is expected to spur the growth of the market over the forecast period. It is used for the filling of passenger cars, trucks and agricultural and construction machines. Use of engine oil ensures easy start process of the vehicle by the driver along with less wear and fuel consumption. Diesel engines and petrol engines have some general requirements concerning lubricants in common, which are connected to the thermal cycle and operational conditions. Automotive engine oils are used as oxidation Inhibitor, Pour Point depressant, Defoamer, Detergent/ Dispersant, AW or EP and Corrosion Inhibitor.

It is very essential to select a better lubricant between oil and grease to be used in automobiles. Oil is a combination of a base oil and additives whereas, grease is a combination of a base oil, additives, and a thickener. Grease is used as automotive lubricants where sealing is difficult, at lower speeds, where relubrication is difficult, and where the lubricant is used to keep dirt and contamination out. Oils are used at higher speeds, where heat transfer is needed, and in applications that are well sealed.

Key players have economically invested heavily in R&D activities to develop advanced products to cater the requirements of the market. The key players adopted various strategies to retain and/or expand their market share. The key strategy followed by most companies within the global automotive lubricant market was that of expansion and entering into merger & acquisition. This strategy is widely adopted to spread their geographical presence and achieve operational efficiencies. The market demands regular product innovation and increased investment in R&D.

August 2017– ExxonMobil has launched oil – Mobil Super 3000 for petrol and diesel engines in India. It is designed to deliver enhanced engine protection and performance at both very low and high operating temperatures. The engine oil is suitable for both petrol and diesel variants of passenger vehicles.

April 2017– Volkswagen Group UK announced a partnership with Fuchs Lubricants (UK) plc for replacing Castrol as the lubricants supplier for Trade Parts Specialists’ (TPS) Quantum range of oils. This partnership enabled Fuchs to provide several additional product and service improvements, which included environmentally friendly packaging formats, improved trade pricing, VRN look-up facilities, technical support and specialist branch training.

August 2004– BP PLC and Petrolub International agreed to merge their automotive lubricant businesses in Japan and create a new company called BP Castrol KK. This merger would bring together the strong lubricant brands of the BP Group in Japan and will create a broader platform from which to develop the business further.

January 2004– ChevronTexaco Global Lubricants entered into an agreement with TravelCenters of America for supply of coolants. This helps to strengthen the position in the Canada and the United States marketplace and increases the product availability throughout North America. The product is recommended for use in all heavy-duty vehicles.

In North America automotive lubricants market, US will grow with the highest annual growth during the forecast period. US demand for automotive lubricants is projected to increase substantially for lubricants with performance and environmental advantages. The increasing number and age of vehicles in use will also fuel gains.

The growth of Asia-Pacific region is dominated by developing countries such as India and China, where the automotive industry is growing at a significant rate. The rise in the average lifespan of vehicles in operation, the growing demand for light passenger vehicles, and the increasing number of vehicle manufacturing facilities owing to the low cost of production in these countries has led to an increased production capacity.

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.

MRFR team have the prime objective to provide optimum quality market research and intelligence services to our clients. Our market research studies depending on products, services, technologies, applications, end users, and market players for global, regional, and country level market segments enables our clients to know more consequently do more, which gives them answer for their each and every important question. In order to stay updated with technology and work process of the industry