Automotive Lubricants Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024
Automotive lubricants are primarily used to reduce friction and inspire smooth functioning of a vehicle. They are also used for heat transfer, transmitting power, and protection against rust and corrosion. Examples of automotive lubricants are engine oil, greases, gear oil, transmission fluid, coolants, brake fluid, and bearing oil. Browse Market Research Report @ http://www.transparencymarketresearch.com/automotive-lubricants-market.html According to a recent study by Transparency Market Research (TMR), the global automotive lubricants market had opportunities worth US$55.44 bn in 2015, and estimates it reach a valuation of US$78.92 bn by the end of 2024, rising at a CAGR of 4.10% during the forecast period of 2016 to 2024. Growing number of vehicles is the key driver of this market. Vehicles are mostly used for the stressful driving conditions in a city which involves stop-and-go traffic, frequent short trip, and idling which leads to significantly reduced ef...
