Lubricants Industry Data Book - Automotive Lubricants, Industrial Lubricants, Marine Lubricants and Aerospace Lubricants Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
The global Lubricants Industry was valued at 42.49 million tons in 2022 and is anticipated to increase at a significant CAGR of 3.0% from 2023 to 2030.
Grand View Research’s Lubricants Industry database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed Industrial outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Access the Global Lubricants Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Industrial Lubricants Market Growth & Trends
The global industrial lubricants market size is expected to reach USD 72.08 billion by 2030, registering a CAGR of 3.1% according to a new report by Grand View Research, Inc. Improving PMI indices across the globe and resultant rise in production capacities are anticipated to boost the demand for industrial lubricants. Moreover, rising manufacturing activities are touted to spur investments in production machinery, thereby creating a strong growth potential for industrial lubricants.
High consumption of general industrial oils generate significant revenue attributing to the growth of industrial lubricants market. Related industries, such as chemicals, unconventional energy and mining, are slated to witness considerable growth. This trend is anticipated to further boost the product demand in compressors, industrial engines, hydraulics, centrifuges, and bearings. Companies are investing heavily in R&D for the development of innovative products to gain competitive edge in the industry. There has been a shift in trend towards use of bio-based raw materials due to rising awareness regarding the need for emission reduction and energy conservation.
Order your copy of the Free Sample of “Lubricants Industry Data Book - Automotive Lubricants, Industrial Lubricants, Marine Lubricants and Aerospace Lubricants Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Automotive Lubricants Market Growth & Trends
The global automotive lubricants market is expected to reach USD 94.87 billion by 2030, registering a CAGR of 2.8% over the forecast period, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the increasing demand for automotive oils and greases owing to the growing trade of vehicles and their spare parts across the globe.
The growth of the lubricants is driven by growing consumer focus on enhancing the performance of the vehicle along with the launch of innovative & premium product offerings. Consumers want standard and specialized lubricants for their everyday vehicles to ensure smooth operation and save long-term maintenance expenses. Automotive lubricant makers are concentrating on developing lubricants that improve engine component performance while also reducing environmental deterioration by lowering carbon emissions.
Moreover, the increasing adoption of electric vehicles is anticipated to act as a restraining factor in the growth of the market. Several countries are focusing on the adoption of e-vehicles to reduce the pollution level. For instance, around 2 billion electric cars were on the road in China in 2021. Thus, this growing use of electric vehicles will hamper the growth of the product market over the period.
Go through the table of content of Lubricants Industry Data Book to get a better understanding of the Coverage & Scope of the study
Competitive Landscape
Key players operating in the Lubricants industry are:
- ExxonMobil Corp.
- Royal Dutch Shell Co.
- British Petroleum
- Total Energies
- Chevron Corporation
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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