A Lubricant is a mix of base oils and improving performance added substances as required by auto motors and gear box. The Lubricants comprises of engine oil, grease, gear oil and transmission fluids. Lubricants are mainly used to smoothen the moving parts of automobiles and among all the lubricants engine-oil is the most important for automobiles. The demand for finished industrial lubricants from the growing automotive industry of United states is showcasing significant growth. As a result, with the escalating sales and production of motor vehicles in the country, the demand for commercial as well as consumer automotive lubricants is expected to rise, thereby driving the United States Automotive Lubricants Market through 2026.
United States Automobile Production, By Vehicle Type, 2016 (Million Units)
Source: Organisation Internationale des Constructeurs d’Automobiles (OICA)
Talking about Major Market Drivers:
Rising demand for Light-Weight Vehicles: The stringent regulations imposed by the Government of the nation against environmental carbon emissions are stimulating the adoption and production of light-weight vehicles in the country. The growing focus over the enhanced fuel economy and reduced atmospheric emission rate by passenger cars, heavy duty trucks, etc., is probing the growth of light vehicles, in turn driving the demand for specific lubricant formations across the sector. As a result, the lubricant manufactures are consistently developing modern and advanced technologies suitable for usage in the light vehicles. The light vehicles lubricants featuring supreme quality coupled with extended life span are expected to increase sales of consumer and commercial automotive lubricants across the United States. Consequently, the demand for low-viscosity engine or motor oil are gaining predominance in the country and is proving to be one of the major driver for the United States Automotive Lubricants Market.
Positive Growth Prospects for Premium Products: The major automotive manufacturers are shifting their focus towards the production and launch of high-quality and high value premium lubricant products to meet the demand of customers. These premium oils and fluids are modelled to provide and offer high-end protection of engine and motor of cars along with multiple sophisticated and advanced beneficial features such as wear & tear resistance, thermal protection, emission & viscosity regulation and many more. On account of immense market benefits from the premium range of products, the top lubricant manufacturers are undertaking extensive R&D activities in order to successfully develop, launch and sell premium lubricants featuring reduced energy consumption, optimum cold starting and lowered carbon emissions.
Rising Trend of Bio-Based and Recycled Lubricants: The country is tremendously boosting the production of renewable and green products in multiple sectors, as a result of which the bio-based lubricants are gaining traction among the automotive lubricant manufacturing companies in the United states. The rising energy security issues and raging environmental pollution levels are leading the production and marketing of sustainable green products across the nation. The growing popularity and adoption of bio-based lubricant fluids can be attributed to the less complicated and flexible regulatory & policy framework by government to boost commercial and consumer sales. In addition to this, the reduced dependency on oil imports due to diversification into novel sources for obtaining lubricants would further advance the growth of US Automotive Lubricants market.
The leading US lubricant manufacturing companies are foraying into the segment. For instance, Valvoline is engaged in the marketing of NextGen™ motor oil which is created with 50% recycled, re-refined oil. Moreover, Biosynthetic Technologies LLC, has begun pilot production of bio-based synthetic motor oils and lubricants which holds an efficiency to replace petroleum in engine oil as well as other industrial lubricant applications.
North America Lubricant Sales of Valvoline, By Volume, 2013-16 (Million Gallons)
In conclusion, United States Automotive Lubricants market is expected to grow on the back of growing automotive production and growing gross national income of the country. Moreover, the country is the second largest automobile market across the globe and growing purchasing power of individuals will result in expansion of automobile Lubricants market in forecast period.
Some of the major players operating in United States Automotive Lubricants Market are Shell Petroleum Development Company (SPDC), Chevron, Mobil, Valvoline, Sasol, Ammasco International Limited, British Petroleum, Total, Repsol, Pennzoil, Luk Oil etc.
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