The report "Lubricants Market by Type (Mineral Oil, Synthetic Lubricants, Bio-Based, and Greases), by Application (Transportation and Industrial Machinery & Equipment), and by Region (APAC, EU, NA, MEA, AND SA) - Global Forecast to 2021", The lubricants market is estimated to have accounted for USD 144.45 Billion in 2015 and is projected to reach USD 166.59 Billion by 2021, registering a CAGR of 2.4% between 2016 and 2021.
Browse 182 tables and 53 figures spread through 180 Pages and in-depth TOC on "Lubricants Market - Global Forecast to 2021"
Early buyers will receive 10% customization on this report.
Sample PDF Brochure of Report @ http://www.marketsandmarkets.com/pdfdownload.asp?id=182046896
The market is driven by the growing automotive industry in the Asia-Pacific region. The increasing demand of automobiles in emerging economies such as China, India, and Japan is fueling the growth of the lubricants market in the region. Another major factor contributing to the growth of lubricants is massive industrial growth in the developing regions such as Asia-Pacific and the Middle East & Africa.
Mineral oil lubricants to account for the major share of the lubricants market till 2021
The lubricants market is segmented by type, namely, mineral oil lubricants, synthetic lubricants, bio-based lubricants, and greases. Mineral oil lubricants are the most preferred type of lubricant and accounts for major share in the global lubricants market. Low cost, easy availability, and increased application in all sectors are driving the mineral oil lubricants market.
Growing automotive industry in the emerging regions to drive the transportation application
The transportation application is leading the lubricants market. This is due to the rapid growth of the automotive, aviation, and marine industries in the Asia-Pacific region. The increasing demand of automobiles can be attributed to the increasing disposable income of people and industrial growth in this region. This growth in the automotive industry eventually contributes to the growth of lubricants in the Asia-Pacific region.
Asia-Pacific to be the largest market during the forecast period
The lubricants market is broadly segmented into five regions, namely, Asia-Pacific, Europe, North America, the Middle East & Africa, and South America. Asia-Pacific is the largest market for lubricants, followed by Europe. The Middle East & Africa is projected to be the fastest-growing market during the forecast period. Growing industrialization has offered enormous opportunity for the various manufacturing industries to use lubricants in the Middle East & Africa. Moreover, the increasing number of passenger and commercial vehicles in the region is fueling the growth of the lubricants market.
Currently, the global lubricants market is dominated by various market players such as Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (U.S.), Petrochina Company Limited (China), Sinopec Limited (China), Total S.A. (France), Lukoil (Russia), BP Plc. (U.K.), Chevron Corporation (U.S.), Fuchs Petrolub AG (Germany), Idemitsu Kosan Co., Ltd. (Japan), and others.
The research study is aimed at identifying emerging trends and opportunities in the global lubricants market along with a detailed classification of the market, in terms of value and volume. It provides a comprehensive competitive landscape and identifies the key players in the global market. The research study also includes a detailed segmentation of the global lubricants market on the basis of application, type, and region.
Browse related Reports:
Middle East & Africa Lubricants Market by Type (Mineral Oil, Synthetic Oil, Bio-based Oil, and Greases), by Application (Passenger Vehicles, Commercial Vehicles, Aviation and Marine and Industrial Machinery and Equipment) - Global Trends & Forecasts to 2019
Synthetic Lubricants Market by Type (PAO, Esters, Group III, PAG), by Application (Engine Oil, Metalworking Fluids, and Industrial) and by Regions (Europe, North America, Asia-Pacific and Rest of the World) - Global Trends & Forecasts to 2020
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets