Automotive Fluids Market Size, Share & Industry Analysis, By Type (Engine Oil, Gear Oil, Transmission Fluids, Brake Fluids, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105238 | Status : Ongoing

KEY INDUSTRY INSIGHTS

Automotive fluids help a vehicle to keep up its performance by lubricating parts. Automotive fluids consist of engine oil, transmission fluids, brake fluids, and others. Transmission fluid maintains the transmission functioning properly by lubricating the components and hindering from damaging through friction. Dirty lubricants can cause braking system damage. It should be emptied and replaced timely with new, clean fluid. Brake fluid is required to keep braking system in good working order. There are also engine oils that lubricate the engine, restricting friction and heat damage. All of these fluids contribute to the proper operation of automobiles.

The automotive lubricants market is expanding as demand for engine oils, brake fluids, and transmission fluids rises in both commercial and consumer vehicles. Soaring demand for ultra - light and elevated performance vehicles in developing economies, combined with rising disposable income, is expected to drive the market growth. However, fluctuating supply of crude oil is limiting growth of the market. Also, shifting preference towards electric vehicles is likely to challenge growth of the market during the forecast period.

Key Market Driver -

Increased demand for light weight vehicles is expected to drive the market.

Key Market Restraint -

Fluctuation in raw material supply is likely to restrict the market growth.

Market Segmentation:

Based on type the market for automotive fluids is further segmented into engine oil, gear oil, transmission fluids, brake fluids, and others. From a geographical standpoint, the market is categorized to North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global & regional players operating in the automotive fluids market includes, ExxonMobil, Royal Dutch Shell, Total SA, Chevron Corp., Fuchs Group, Lukoil, Valvoline, Sinopec, and British Petroleum.

Key Insights

New Advancements in Production Technologies

Key Trends in the automotive fluids market

New Product Launches, Expansions, Key Players

Ranking of Key Players in the Market

Regional Analysis:

Asia Pacific secures the largest market share in the automotive fluid market. The growing demand for vehicles in countries such as China and India is expected to stimulate demand for automotive fluids. Companies are setting up manufacturing facilities in these countries in order to meet local demand. For example, BASF initiated an automotive brake fluid manufacturing plant in Pudong, Shanghai to meet local customer demand. The high demand for gear oil has resulted in market expansion in North America. ABRO Industries, Inc., introduced gear oils with higher effective stocks with the aim of providing enhanced oxidation stability and high durability. The oil has a number of outstanding properties, including anti-foaming, oxidation, and metal wear resistance in automobiles. Rising per capita income and a growing need for personalized transportation have fuelled passenger car sales in Europe. The Middle East is one of the world's most influential markets for vehicle companies. Automotive companies are focusing to maximize customer base in these regions, which eventually impacts the demand for the automotive fluids for better performance. Saudi Arabia remains a critical market for American automakers. In Latin America. Favourable demand for vehicles in Brazil, Mexico, Argentina is likely to boost sale of automotive fluids in the near future.

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Segmentation

ATTRIBUTE	DETAILS
By Type	Engine Oil Gear Oil Transmission Fluids Brake Fluids Others
By Geography	North America (USA, Canada) Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe) Asia Pacific (Japan, China, India, South Korea, Southeast Asia and Rest of Asia Pacific) Latin America (Brazil, Mexico, Rest of Latin America) Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Automotive Fluids Industry Developments

In January 2020, ExxonMobil Lubricants signed a deal with Nissan Motor India to provide the lubricants for the passenger vehicle. This collaboration would provide cutting-edge lubricant technology to Nissan engines, allowing them to run more efficiently. This would enable the company to elevate the most recent range of engine oils to meet specific design requirements.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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