Lubricants Market To Reach USD 196.2 Billion In 2027 | CAGR 2.2% — Forencis Research

  • According to the new market research report “ Lubricants Market by Base Oil (Mineral Oil, Synthetic Oil, and Others) by Product Type (Grease, Engine Oil, Hydraulic Oil, Gear Oil, Coolant Liquids, Compressor Oil, and Others) by Application (Automotive and Industrial) by Region (Asia Pacific, North America, Europe, Middle East & Africa, and South America) — Global Forecast From 2020 To 2027”, the global lubricants market is estimated to reach USD 196.2 Billion in 2027 at a CAGR of 2.2% during forecast period 2020–2027.
  • Constant demand from the automotive sector and increasing demand for high-performance lubricants are expected to boost the global lubricants market
  • However, increasing demand for electric vehicles and fluctuation in crude oil prices is expected to hinder the market growth up to a certain extent
  • Continuously growing replacement market due to growing awareness among consumers is anticipated to boost the demand for lubricants in the automotive sector.
  • Moreover, growing demand for high-performance lubricants is also a key factor behind the growth of the market
  • Furthermore, the growing e-commerce industry globally is anticipated to create an opportunity for the market growth uphill
  • However, increasing demand for electric vehicles and fluctuation in crude oil price is expected to hinder the market growth up to a certain extent
  • Asia-Pacific
  • Europe
  • Royal Dutch Shell
  • Exxon Mobil Corporation.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
DataBridge Market Research

DataBridge Market Research

28 Followers

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach