Global Lubricants Market , By Type (Mineral Oil, Synthetic Lubricants, Bio-Based, Greases), By Application (Transportation and Industrial Machinery & Equipment), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
The functions of lubricant involve transmitting forces, transporting foreign particle and heating or cooling the surfaces. Lubricants are also used in ultrasound examination, medical examination etc. Lubricant has many applications in the automobile sector. As per article published by shell industry; India’s 55 per cent of lubricants are consumed by the automobile sector and the rest is being used by industrial and marine industries. A lubricant refers to any substance that is physically integrated for the purpose of reducing friction between two or more moving surfaces. Lubricants help prevent material degradation, erosion, corrosion and rust formation on metallic surfaces.
The Global Lubricants Market is expected to reach USD 190.94 billion by 2026 from USD 159.18 million, growing at a CAGR of 2.3% during the forecast by 2026.
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Major Market Competitors/Players: Lubricants Market
Some of the major players operating in the global lubricants market are LUKOIL, BP p.l.c., Chevron Corporation., FUCHS, Idemitsu Kosan Co., Ltd., Royal Dutch Shell Plc., Exxon Mobil Corporation, PetroChina Company Limited, China Petrochemical Corporation, TotalAqua, among others.
The data in the Lubricants Market report is genuine and easy to pursue so that the readers can comprehend the market thoroughly. With the assistance of experts and various research techniques such as SWOT analysis, this well-ordered market research report has been developed. The report gives a lighting up approach to understanding the market, including insights and numbers. It gives a firm foundation that empowers numerous item engineers and specialist organizations, affiliations, organizations.
Table of Content: Lubricants Market
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Global Lubricants Market Landscape
Part 04: Global Lubricants Market Sizing
Part 05: Global Lubricants Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Major Market Drivers and Restraints:
- Growing automotive industry in Asia-pacific.
- Increased in massive industrial growth in Asia-pacific and Africa
- Increased consumer awareness coupled with stringent government regulations.
- High price of synthetic and bio-based lubricants
- Increasing popularity of hybrid electric vehicles expected to lead to decline in demand for lubricants.
Market Segmentation: Lubricants Market
The global lubricants market is segmented based on type, application, and geographical segments.
- Based on type, the global lubricants market is segmented into mineral oil, synthetic lubricants, bio-based, and greases.
- On the basis of application, the global lubricants market segmented into transportation, industrial machinery & equipment and others.
- Based on geography, the global lubricants market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Lubricants Market
The global lubricants market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lubricants market for global, Europe, North America, Asia Pacific and South America.
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