Global Automotive lubricant Market is expected to reach $6,839.9 Million by 2019.

The global automotive lubricant market for the forecast period 2014 to 2019. The market is expected to grow from $4,403.0 million in 2014 to $6,839.9 million by 2019, at a CAGR of 9.2%.

Browse through the TOC of Global Automotive lubricant Market for an analysis of industry trends, segments & forecasts.

The global automotive lubricant market is classified on the basis of vehicle type, application, and geography. The vehicle type segment is further categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles. The application segment is segmented into engine oil, transmission fluid, and brake fluid. Regions taken into consideration are Asia-Pacific, North America, and Europe.

As of 2014, Asia-Pacific is estimated to hold the largest share in the global automotive lubricant market, followed by North America and Europe. The transmission fluid application segment of the automotive lubricant market was estimated to account for the largest share, in terms of value—that is, 50.7%—in 2014, followed by the engine oil segment.

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Factors such as the increasing demand for LCVs and HCVs, the rise in the average age of vehicles, and government legislations for automotive lubricant are driving the market. Changing lifestyles and the growing demand for comfort in every aspect of life are giving rise to the invention of various machines, and indirectly driving the lubrication market.

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On the other hand, factors such engine downsizing in passenger cars and the fluctuating prices of raw materials such as base oils are restricting the growth of this market. Nevertheless, increasingly stringent governmental norms regarding pollution provide growth opportunities to players in this market.

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The global automotive lubricant market is a consolidated market. Some of the prominent players in this market include Royal Dutch Shell PLC, Exxon Mobil Corporation, and BP PLC are the major players in the global automotive lubricant market. 

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