DUBLIN, July 27, 2017 /PRNewswire/ --
The "Global Automotive Lubricants Market 2017-2021" report has been added to Research and Markets' offering.
The global automotive lubricants market to grow at a CAGR of 4.60% during the period 2017-2021. Lubricants are materials that reduce the friction between components in a vehicle.
The report, Global Automotive Lubricants Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is constant need for technological upgrade. The rapid technological advances in the manufacturing of machinery and automobiles are intensifying the need for environment-friendly and high-performance lubricants and lubricant additives. Therefore, lubricant manufacturers must constantly upgrade their production capabilities and product portfolio to match the revised requirements.
According to the report, one driver in the market is heavy dependence on IC engines for logistics. Emerging countries like India and China are exhibiting an increase in the preference for transportation through roads. In 2016, IC engines held a market share of more than 95% of the total commercial vehicles sold globally and played a key role in logistics. In the commercial vehicles segment, there are hardly any vehicles that run on battery or alternate fuels. Hence, there is a high dependency on IC engines for transportation. All such engines require lubricants. Even the amount of lubricants required in medium and heavy vehicles is more than other vehicles.
Further, the report states that one challenge in the market is rise in demand for battery electric vehicles. The sales of battery electric vehicles have been gaining momentum since 2014. Though many factors have contributed to the growing sales of battery electric vehicles, the most crucial factor is the government initiative to promote the adoption of battery electric vehicles among consumers. The battery electric vehicles market is nurtured by governments worldwide to curb high emission levels. The global battery electric vehicles market is flourishing due to numerous benefits and perks provided by governments.
- Chevron Corporation
Other prominent vendors
- Bharat Petroleum Corporation
- Gulf Oil
- Indian Oil Corporation
- China Petrochemical Corporation
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application type
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/rljqzv/global_automotive
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SOURCE Research and Markets