Automotive Lubricants Market
Automotive Lubricants Market Size And Forecast
According to Verified Market Research, the Global Automotive Lubricants Market was valued at USD 74.82 Billion in 2018 and is projected to reach USD 107.4 Billion by 2026, growing at a CAGR of 4.61% from 2019 to 2026.
Global Automotive Lubricants Market Outlook
The growing implementation of high-performance lubricants coupled with the rapid growth in the number of on-road vehicles is a major factor that is propelling the growth of the market. Increasing consumer awareness & affordability, and rising urban population are some of the factors that are fueling the growth of the market over the forecast period. Owing to consumer awareness there is a rise in the demand for high mileage engine oil in the market. However, the growing adoption of electric vehicles and the environmental hazards of lubricating oil are some of the major factors that may affect the growth of the market. The rise in concerns related to the environmental hazards associated with the mineral oil lubricants may affect the overall market growth
Global Automotive Lubricants Market Competitive Landscape
The Global Automotive Lubricants Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as BP p.l.c., Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell, Total, KMG Chemicals, Petronas Lubricant International Sdn Bhd, Oryx Energies, Pennzoil-Quaker State, and Indian Oil Corporation Ltd.
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