Heavy Duty Lubricants Market, By Application (Commercial Vehicles, Passenger Car, Aviation, Marine and Manufacturing & Industries) & Geography- Forecast till 2022
Global Heavy Duty Lubricants are a combination of certain base oils and additives. Heavy Duty Lubricants are usually organic oil based . They help to reduce friction between surfaces in mutual contact. These lubricants are usually highly specialized on account of extreme environments in which they operate.
Heavy Duty Lubricants are widely used to serve commercial vehicles, passenger car, marine, aviation and mining markets. Commercial vehicles usage is increasing due to its application of reducing oxidation and improving lubrication in internal combustion engines, which in turn driving the demand of Heavy Duty Lubricants. Lubricant is the leading market segment in terms of size as well as the growth rate. Nowadays, extremely challenging environments require superior physical performance and life expectancy of the engine, which is another key driving factor for the increasing demand of Heavy Duty Lubricants.
The market is further segmented on the basis of product types, which includes Polyalkylene Glycols (PAG), Polyalpha Olefins, Lubricant Additives, Base Oil, Phosphate Esters and Vegetable Oil. Polyalkylene Glycols (PAG) are widely utilized for surface active agents and chemical intermediates.
The report covers application areas such as Commercial Vehicles, Utility Vehicles, Aviation, Marine, and Industries & Manufacturing. The market is projected to grow at a CAGR of XX.X% during 2017-2022.
The Heavy Duty Lubricants market is expected to grow in Asia-Pacific, and North America region due to increasing market for automotive industry, which includes heavy, medium, and small commercial vehicles. At the same time transportation, building & infrastructural developments are also high in developing economies.
This market research study provides a detailed qualitative and quantitative analysis of the global Heavy Duty Lubricants market. Various secondary sources, such as encyclopaedia, directories, industry journals, and databases are used to identify and collect information useful for this extensive commercial study of the lubricants market. The primary sources include experts from related industries and suppliers who have been interviewed to obtain and verify critical information as well as to assess the future prospects of the market.
Competitive scenarios of the top players in the Heavy Duty Lubricants market have been discussed in detail. Leading players of this industry with their recent developments and other strategic industry activities are also covered in the report. Companies, such as Royal Dutch Shell plc (Netherlands), Lubrizol, Exxon Mobil Corporation (U.S.), BP plc. (U.K.), Chevron Corporation (U.S.), Total S.A. (France), PetroChina Co., Ltd. (China), Sinopec Corp (China), Lukoil Oil Company (Russia), Idemitsu Kosan Co.,Ltd. (Japan), Fuchs Petrolub SE (Germany), Shell Oil Co. (U.S.), JX Nippon Oil & Energy Corporation (Japan), Indian Oil Corporation Limited (India), and other are operating in this market.
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