Automotive Lubricant Market worth $6,839.9 Million by 2019 un 24, 2015

Automotive Lubricant Market worth $6,839.9 Million by 2019 The growth of the automotive lubricant market is driven by factors such as the growing demand for light and heavy commercial vehicles, government legislations on automotive lubricants, and increasing vehicle life span. http://www.micromarketmonitor.com/market-report/automotive-lubricant-reports6793977885.html Key players in the Global Automotive Lubricant Market include Royal Dutch Shell PLC (Netherlands), Exxon Mobil Corporation (U.S.), and BP According to the new market research report “Global Automotive Lubricant Market by Vehicle Type (Passenger Car, LCV, HCV), By Application (Engine Oil, Transmission Fluid, Brake Oil), by Geography (Asia-Pacific, Europe, North America, RoW) - Analysis and Forecast to 2019”, the Global Automotive lubricant Market is estimated to reach approximately $6,839.9 Million by 2019. PLC (U.K.). This report studies 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%. 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. 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. Email: [email protected] Tel: [phone]