Automotive Lubricants Market Forecast To Reach $87.1 Billion By 2025: Grand View Research, Inc.5/29/2018 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. High 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.
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 oils to impact their consumption, thereby growth. Full Research Report On Global Automotive Lubricants Market By Grand View Research: www.grandviewresearch.com/industry-analysis/automotive-lubricants-market Further key findings from the study suggest:
www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives Grand View Research has segmented the global automotive lubricants market on the basis of product and region: Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
www.grandviewresearch.com/press-release/global-automotive-lubricants-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information: www.grandviewresearch.com
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