Dublin, Sept. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Automotive Lubricant Market Outlook to 2026" report has been added to ResearchAndMarkets.com's offering.
Global automotive lubricants market is expected to witness a significant growth rate during the forecast period.
Factors such as the increasing demand for efficient automotive vehicles due to the surging oil prices are expected to drive the automotive lubricants market in the forecasted years.
Furthermore, this increasing demand is attributed to the growing need for high-performance engines. The increasing construction industry is also expected to drive the demand for the commercial vehicle for construction activities, thus increasing the demand for the automotive lubricants market in the forecasted years.
However, the increase in sales for battery electric vehicles and the increasing demand for hybrid engines that could decrease the demand for engine oil is expected to restrain the global automotive lubricant growth in the forecasted years.
Engine Oil is the most used automotive Lubricant globally and is expected to drive the global automotive lubricant market. The main purpose of engine oil is to reduce wear and friction on moving parts and clean the engine from varnish and sludge. It also helps to neutralize acids that originate from fuel and oxidation of lubricants, thus improving the sealing of piston rings.
Engine oil plays a key role in cooling the engine by extracting heat away from moving parts. The increasing crude oil prices have forced people to opt for high mileage engine oils as it helps to prevent oil leaks and reduce oil consumption. The increasing car age globally promotes the use of engine oils and other lubricants to maintain the efficiency and performance of the vehicle. The recommended engine oil change period is at about 5, 000 to 7, 500 miles to enhance the drive experience.
Owing to the rapid urbanization in emerging countries like China and India, the sales of commercial vehicles such as trucks, tractors, and trailers are on the surge. High-duty motor engine oil has high-viscosity engine oils, capable of sustaining strict emission standards and extreme geographical conditions. These factors are expected to drive the demand for automotive lubricants in the forecasted years.
Major global players in the industry are Royal Dutch Shell International, China National Petroleum Corporation, Chevron Corporation, ExxonMobil Corporation, Phillips Company, Kluber Oil International, Hindustan Corporation Limited (HPCL), among others.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
3. Market Analysis
Market Trends & Developments
Analysis of Covid-19 Impact
4. Industry Analysis
Supply Chain Analysis
5. Market Segmentation & Forecast
6. Regional Market Analysis
7. Key Company Profiles
Royal Dutch Shell International
China National Petroleum Corporation (CNPC)
Phillips 66 Company
Gulf Oil International
Hindustan Petroleum Corporation Limited (HPCL)
8. Competitive Landscape
List of Notable Players in the Market
M&A, JV, and Agreements
Market Share Analysis
Strategies of Key Players
9. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/1m1a36
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