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(India.CityRegions.Com, September 18, 2018 ) Industry Outlook and Trend Analysis The Automotive Lubricants Market was worth USD 61.71 billion in 2014 and is expected to reach approximately USD 93.71 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.75% during the forecast period. Developing demand for lightweight and elite vehicles in rising economies, for example, China and India alongside expanding discretionary income over the globe is anticipated to be a key factor driving business sector development. The market is developing because of expanding requirement for brake fluids, engine oils, and transmission fluids among both commercial and consumer automobiles. Expanding sales of bikes are additionally anticipated that would fortify this development over the figure time frame.
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Product Outlook and Trend Analysis Based on product, industry has been sectioned into gear oil, brake fluids, engine oil, transmission fluids, greases, and coolants. Engine oil was the main section and represented more than 54.5% of the general income in 2016. Engine oil is broadly used in passenger cars, diesel trucks, and light-duty trucks. It helps in maintaining thickness, guarantee dependability and decrease engine wear. It likewise adds to keeping engine cool, counteracts consumption and cleans engine.
Regional Outlook and Trend Analysis Asia Pacific was the leading locale and represented more than 43.9% of the aggregate market income in 2016. Asia Pacific automotive industry is expected to witness high development rate over the figure time frame inferable from fast financial advancement, mega construction projects and a presentation of different good strategies by the Government, for example, 100% FDI and "Smart Cities."
Competitive Insights The leading players in the market are Royal Dutch Shell, ExxonMobil, Total SA and British Petroleum. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Automotive Lubricants Market is segmented as follows-
By Product: Gear Oil Brake Fluids Greases Engine Oil Transmission Fluids Coolants
By Region North America The U.S. Canada Mexico Europe Germany UK France Russia Italy Rest of Europe Asia-Pacific China Japan South Korea India Southeast Asia Rest of Asia-Pacific South America Brazil Argentina Columbia South Africa Rest of South America The Middle East and Africa Saudi Arabia UAE Egypt Nigeria South Africa Rest of MEA
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Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com
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