Global Automotive Fluids Market Size study & Forecast, By Type (Engine Oil, Gear Oil, Transmission Fluids, Brake Fluids, Others), and Regional Analysis, 2023-2030

Global Automotive Fluids Market Size study & Forecast, By Type (Engine Oil, Gear Oil, Transmission Fluids, Brake Fluids, Others), and Regional Analysis, 2023-2030

Global Automotive Fluids Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Automotive fluids assist a vehicle in maintaining performance by lubricating moving parts. Automotive fluids include braking fluids, gearbox fluids, and engine oil. Transmission oil keeps the transmission running smoothly by lubricating the parts and preventing wear from friction. Using soiled lubricants might harm brake systems. It should be promptly emptied and filled with fresh, clean fluid. Brake fluid is necessary to maintain the braking system functioning properly. Additionally, engine oils lubricate the engine to reduce friction and heat damage. Each of these fluids plays a role in the efficient operation of autos. The stringent environmental regulations, rising emphasis on vehicle maintenance and servicing, coupled with the growing awareness of vehicle safety are the key factors that are propelling the market demand across the globe.

In addition, the surge in the production of vehicles is playing a major role that is augmenting the market growth during the estimated period. According to the International Organization of Motor Vehicle Manufacturers, in 2022, it was estimated that around 61.59 million cars and 23.41 million commercial vehicles were produced, which is a rise from 57.05 million cars and 23.09 commercial vehicles in 2021. Therefore, the high demand for brake fluids, engine oils, and transmission fluids rises in both commercial and passenger vehicles for manufacturing and maintenance of vehicles is exhibiting a positive influence on the market expansion. Moreover, the surging demand for environmentally-friendly fluids, as well as the expansion into emerging markets present various lucrative opportunities over the forecasting years. However, the fluctuation in raw material supply and the shifting preference towards electric vehicles is challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Fluids Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the surging demand for vehicles across leading countries such as India and China, the availability of resources, along with rapid economic development. Whereas, North America is expected to grow significantly during the forecast period, owing to factors such as high demand for engine oils, growing awareness of vehicle safety, as well as rising focus on vehicle maintenance and servicing in the market space.

Major market players included in this report are:
Exxon Mobil Corporation
Royal Dutch Shell
Total SA
Chevron Corp
Fuchs Group
Lukoil
Valvoline
Sinopec
British Petroleum
Petróleo Brasileiro S.A

Recent Developments in the Market:
In January 2020, ExxonMobil Lubricants unveiled that the company has signed a deal with Nissan Motor India with the objective of offering lubricants for the passenger vehicle. This partnership aims on presenting novel lubricant technology to Nissan engines, which facilitates the better efficiency of the vehicles. Additionally, this deal allows the company to raise the most recent type of engine oils to meet specific design needs.

Global Automotive Fluids Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Engine Oil
Gear Oil
Transmission Fluids
Brake Fluids
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa


Companies Mentioned
Exxon Mobil Corporation
Royal Dutch Shell
Total SA
Chevron Corp
Fuchs Group
Lukoil
Valvoline
Sinopec
British Petroleum
Petróleo Brasileiro S.A

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