Fluid Efficiency: Insights into the Lubricants Market

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Lubricants Market Revenue Worth 115,350.6
Million by 2030
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PRESCIENT STRATEGIC INTELLIGENCE Where
knowledge inspires strategy
From 66 million in 2005, worldwide vehicle sales
jumped to 91 million in 2019, as per Organisation
Internationale des Constructeurs d'Automobiles
(OicA). Due to the expanding automotive industry,
the global lubricants market is predicted to grow
from 95,403.9 million in 2019 to 115,350.6
million by 2030, witnessing a 2.3 CAGR between
2020 and 2030, according to the market research
report published by PS Intelligence. The
automotive sector is one of the biggest end users
in the lubricants market, as such fluids find
widespread application in automobiles. The
crankcases of engines are widely lubed in order
to reduce friction between components that are in
contact. This not only reduces wear and tear, but
also keeps the vehicle running smoothly and with
the optimum mileage. With people's rising
disposable income and strict norms regarding
vehicular emissions and fuel efficiency, the
consumption of lubricants in the auto sector
continues to rise. Get the sample copy of this
report at _at_ https//www. psmarketresearch.
com/market-analysis/lubricants-market/report-sampl
e During the COVID-19 pandemic, the lubricants
market is witnessing negative growth. Not only
have the lockdowns implemented in several nations
led to the closure of a large number of
manufacturing plants, but non-essential movement
has also been curtailed. Thus, due to few people
using their personal vehicles, or using them at a
much smaller scale than before, the need to
regularly lubricating them has reduced. In the
past, the engine oil category held the largest
share in the lubricants market, based on product
type. The growing automotive industry, on account
of the rising demand for vehicles for public and
private transport, has been pushing the demand
for engine oil. Engine oils play a vital role in
making vehicles fuel-efficient, which is one
aspect of transportation almost every vehicle
owner worries about presently. APAC has been the
most-productive region in the lubricants market
in the past few years. As regional countries have
weaker environmental regulations and offer lower
manufacturing costs than North American and
European countries, lubricant manufacturers based
in the latter two regions are shifting their
production base to APAC. Make enquiry about this
report at _at_ https//www. psmarketresearch.
com/send-enquiry?enquiry-urllubricants-market The
highest CAGR in the lubricants market is
predicted to be observed in the Middle East and
Africa (MEA) region during the next decade. As
the largest oil-producing region on earth, the
MEA boasts low lubricant prices, which encourage
their wide adoption in industries. Further, with
regional countries taking steps to reduce their
dependence on oil and gas trade, they are giving
impetus to other industries. Thus, with the
construction of more manufacturing plants, the
consumption of lubricants would rise massively
here. The most prominent companies in the global
lubricants market are BP p.l.c., PetroChina
Company Limited, Royal Dutch Shell p.l.c., China
Petroleum Chemical Corporation (Sinopec),
Idemitsu Kosan Co. Ltd., fUcHS PETROLUB SE,
Illinois Tool Works Inc., Chevron Corporation,
Castrol Ltd., Buhmwoo Chemical Ind. Co. Ltd.,
Hindustan Petroleum Corporation Limited, Petroleo
Brasileiro S.A., Valvoline Inc., PT Pertamina,
Lukoil PjSC, ZellerGmelin GmbH Co. KG, EnEoS
Holdings Inc., Amsoil Inc., Petrofer Chemie H.R.
Fischer GmbH Co. KG, Indian Oil Corporation
Limited, Phillips 66, Total S.A., Gazprom Neft
PJSC, Petroliam Nasional Berhad (PETRONAS), Exxon
Mobil Corporation, Blaser Swisslube AG, Eni SpA,
and Bharat Petroleum Corporation Limited.
The research offers market size of the global
lubricants market for the period 2017-2030.
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Market Segmentation by Base Oil Mineral
Oil Synthetic Oil Bio-Based Oil Market
Segmentation by Product Type Engine Oil
Transmission and Hydraulic Fluid Oil Gear
Oil General Industrial Oil Grease
Metalworking Oil Process Oil
Others Market Segmentation by End User
Automotive and Other Transportation Heavy
Equipment Food and Beverages Metallurgy
and Metalworking Chemical Others Market
Segmentation by Region North America
Lubricants Market o By base oil o By product type
o By end user o By country - U.S. and Canada
Europe Lubricants Market o By base oil o By
product type o By end user o By country -
Germany, France, U.K., Italy, Spain, and Rest of
Europe Asia-Pacific (APAC) Lubricants
Market o By base oil o By product type o By end
user o By country - China, India, Japan, South
Korea, Australia, and Rest of APAC Latin
America (LATAM) Lubricants Market o By base oil o
By product type o By end user o By country -
Brazil, Mexico, and Rest of LATAM Middle
East and Africa (MEA) Lubricants Market o By base
oil o By product type o By end user o By country
- Saudi Arabia, South Africa, and Rest of MEA
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