Global Automotive Lubricants Aftermarket Market Size By Base oil, By Vehicle-Type, By Application, By Geographic Scope And Forecast
Automotive Lubricants Aftermarket Market Size And Forecast
Automotive Lubricants Aftermarket Market was valued at USD 33.23 Billion in 2019 and is projected to reach USD 57.74 Billion by 2027, growing at a CAGR of 7.2% from 2020 to 2027.
Global Automotive Lubricants Aftermarket Market Outlook
The growing industrial and automotive sector and increasing preference for bio-based lubricants over conventional lubricants are likely to drive the market during the forecasted period. Increasing awareness about the benefits of timely oil changes, growing urbanization leading to more car ownership, and strict government regulations over the emission norms expect a boost in the market in the coming years. Properties of automotive lubricants such as corrosion retardation, high boiling point, low freezing point, high viscosity index, resistance to oxidation, and thermal stability are expected to fuel the market over the predicted years. However, higher market competition and fluctuating cost of raw materials can hamper the market growth.
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The Global Automotive Lubricants Aftermarket Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Automotive Lubricants Aftermarket Market Competitive Landscape
The Global Automotive Lubricants Aftermarket Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Royal Dutch Shell Plc., Exxon Mobil Corporation, Total S.A., BP Plc., Chevron Corporation, PetroChina Company Limited, Valvoline, BASF SE, Indian Oil Corporation Ltd., and FUCHS Lubricants.
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