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Showing posts with the label Automotive Lubricants

Automotive Lubricants Market Trend, Segmentation and Forecast to 2025

cHigh engine oil demand in passenger cars, diesel trucks, and light-duty trucks is expected to drive global automotive lubricants industry growth over the forecast period. The Global Automotive Lubricants Market is expected to reach USD 87.1 billion by 2025, according to a new report by Grand View Research, Inc. Rise in middle class, urbanization, and growing disposable income in developing countries have led to greater passenger car sales. On a parallel level, economic growth in these regions has promoted trade, leading to the growth of transportation sector. These factors combined have led to increased lubricants consumption. Engine oil segment is the largest contributor to automotive lubricants market which was around USD 34 billion in 2016.  Engine oil is widely used in passenger cars, diesel trucks, and light-duty trucks. They help to maintain the viscosity, ensure dependability and reduce engine wear. Increasing drain intervals and formulation of high performance oil...