Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "United Kingdom Automotive Lubricant Market By Vehicle Type, By Application, By Type, By Demand Category, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
United Kingdom automotive lubricant market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027
The market growth can be attributed to growing demands for automotive ownership. Higher sales of passenger cars and commercial vehicles are further driving the growth of the United Kingdom automotive lubricants market in the upcoming five years.
Rapid adoptions of high-performance lubricants and various environmental factors also support the growth of the United Kingdom automotive lubricant market in the next five years. Consistent research and technological advancement further substantiate the growth of the market.
Higher Vehicle Sales Drive Market Growth
Growing production scales, and thus the sales of passenger cars, are majorly driving the growth of the United Kingdom automotive lubricant market in the upcoming five years. Rapidly increasing demands for passenger cars and light commercial vehicles, along with the increasing sales of the same, drive the growth of the United Kingdom automotive lubricants market in the upcoming five years.
With higher disposable income, the population is highly inclined toward ownership of their personal vehicle, thereby increasing the sales of the passenger card and thus the growth of the United Kingdom automotive lubricant market in the next five years.
In 2021, 932.49 thousand vehicles were produced in the United Kingdom. Out of which, total passenger car production stands at 859.58 thousand units in the United Kingdom.
Although productions were lesser as compared to the sales in the country, imported vehicles fulfilled the surged demands. 1.65 million units of passenger cars were sold in 2021 in the United Kingdom. These factors further aided the growth of the United Kingdom automotive lubricant market in the future five years.
Competitive Landscape
Detailed analysis of the major companies present in United Kingdom automotive lubricant market.
- BP PLC (Castrol)
- Exol Lubricants Limited
- CHEVRON CORPORATION
- Fuchs Petrolub SE
- ExxonMobil Corporation
- Morris Lubricants
- PETRONAS Lubricants International Sdn Bhd
- Motul
- Shell plc
- TotalEnergies SE
Report Scope:
United Kingdom Automotive Lubricant Market, By Vehicle Type:
- Passenger Car
- Light Commercial Vehicle (LCV)
- Medium & Heavy Commercial Vehicle (M&HCV)
- Two-Wheeler
- OTR
United Kingdom Automotive Lubricant Market, By Application:
- Engine Oil
- Transmission Oil
- Hydraulic Fluids
- Greases
- Others
United Kingdom Automotive Lubricant Market, By Type:
- Mineral Based
- Synthetic
United Kingdom Automotive Lubricant Market, By Demand Category:
- OEM
- Replacement
United Kingdom Automotive Lubricant Market, By Region:
- London
- East Anglia
- Southwest
- Southeast
- Scotland
- East Midlands
- Yorkshire & Humberside
For more information about this report visit https://www.researchandmarkets.com/r/4zjwjg
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