TMR_Research_Reports_2017 Automotive Lubricants Market Research Report 2024 | Seite 2

Automotive Lubricants Market
REPORT DESCRIPTION
Automotive Lubricants Market (Product - Engine Oil, Gear Oil, and
Transmission Fluid; Base Oil - Mineral Oil, Synthetic Oil, and Bio-
based Fluid; Vehicle Type - Passenger Car, Light-weight Commercial
Vehicle, and Heavy-weight Commercial Vehicle; Distribution Channel
- Original Equipment Manufacturer (OEM), and Aftermarket) - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 -
2024
According to a new study by Transparency Market Research (TMR), the global automotive
lubricants market exhibits a high degree of competition and is likely to increase with the entry of new
players in the near future. The top three players, namely ExxonMobil Corp., Royal Dutch Shell PLC,
and BP PLC, accounted for 31.6% of the overall market in 2015, indicating at highly fragmented
nature of the market. “The dominance of these players can be attributed to their diversified product
portfolio and robust distribution channels,” says TMR’s lead analyst.
The global automotive lubricants market had a valuation of US$55.44 bn in 2015 and is poised to rise
to US$78.92 bn by the end of 2024. Between 2016 and 2024, the market is expected to progress at a
CAGR of 4.10%.
Browse Market Research Report @
http://www.transparencymarketresearch.com/automotive-lubricants-market.html
Passenger Vehicles to Remain Leading Consumer of Automotive Lubricants until 2024
On the basis of vehicle type, passenger vehicles will continue to dominate the market in terms of
volume until 2024, with sales over 32.3 mn tons by that year. The expanding base of affluent
consumers is translating into the greater purchase of passenger vehicles, driving the demand for
automobile lubricants.
Geographically, Asia Pacific will continue to be the leading market for automotive lubricants in terms
of value until 2024. The increasing purchasing power of consumers along with strengthening
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Transparency Market Research