Future Market Insights (FMI), in its new publication, provides useful information on the future outlook of the two-wheeler lubricants market for the period between 2022 and 2028. According to the study, the global sales of two-wheeler lubricants reached ~2,300 KT, equivalent to revenue worth US$ 16.94 billion by 2022. Two-wheeler lubricants market is expected to grow at a CAGR of over 4.3% during the forecast period (2022-2028).
The emergence of two-wheelers as the primary mode of transport in developing countries has been weighing on the same scale as the rapid adoption of two-wheeler lubricants. However, the growing prominence of electric vehicles, in view of increasing consumer interest towards a carbon-free future through emission-free transport, may pose a potential threat to market growth.
Meeting the increasingly stringent VOC emission limits while maintaining the durability of the vehicle component has been a difficult balance to strike for players in the two-wheeler lubricants market. FMI’s study finds that manufacturers are investing heavily in developing additive technology that not only ensures the delivery of required fuel economy, but also maintains high friction, hardware protection and durability.
Synthetic oil appears as the preferred choice
The study opines that the two-wheeler lubricants market is likely to register a volume CAGR of 4.3% during the forecast period. While mineral oils continue to account for relatively high sales, manufacturers are focusing on increasing production of synthetic and semi-synthetic oils to capitalize on the growing demand for premium synthetic lubricants for two wheels. Considering the incorporation of advanced engine technologies in modern vehicles, along with increased consumer awareness of the performance advantages of synthetic lubricants, manufacturers are specifically focusing on non-mineral oils.
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In addition, a shift towards premiumization of products for increased warranty and extended oil drain interval is likely to require greater adoption of synthetic content in two-wheeler lubricants. Also, to address the growing greener fuels and sustainable requirements, various market players are targeting the development of effective bio-based lubricants.
According to the study, the use of two-wheeler lubricants in motorcycles, especially mopeds and standard varieties, has been higher than scooters. With the emergence of new generation motorcycles that facilitate efficient clutch operation and require multi-functional lubricants, manufacturers are focusing on product innovations and new developments to provide an optimal riding experience.
The study finds that aftermarket sales of two-wheeler lubricants account for a relatively high share than OEM sales, and are expected to register a year-on-year volume growth of 4.3% in 2022 over 2021. The need of regular and periodic service for your two-wheelers. Good performance and durability, even on poor road infrastructure, will continue to drive aftermarket sales of two-wheeler lubricants.
According to the study, developing countries in Asia Pacific, Latin America and Africa continue to offer the most opportunities due to increased mobility and rising disposable incomes in these regions, which directly correlate to successful penetration of two-wheeled vehicles. While the two-wheeler lubricant markets in North America and Europe are not likely to show dramatic growth in terms of volume, the FMI study finds that the penetration of synthetic or premium lubricants in these regions will be high in the future
According to the study, one of the major drivers for the growth of the two-wheeler lubricants market is the lack of public transport in rural areas, which has led to an increase in the adoption of two-wheelers. Although motorcycle sales have shown a sharp decline in developed countries over the years, the growing interest in riding motorcycles for recreational purposes has contributed to the growing need for two-wheel lubricants in these countries.
The business asset highlights the competitive landscape of the Two Wheeler Lubricants market by evaluating the business development strategies of the key players. The market shows a fair level of consolidation, with key stakeholders focusing their strategic focus on product innovations and a firmer geographic footprint.
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Profile of key companies
• BP PLC
• Pertamine
• Petronas
• PTT lubricants
• Royal Dutch Shell PLC
• ExxonMobil Corporation
• Total SA
• Chevron Corporation
• Petron Corporation
• Motul
• Morris Lubricants
• Hindustan Petroleum Corporation Limited
• China National Petroleum Corporation
• FUCHS
• Others
Two-wheeler lubricants market by category
By product:
- Synthetic oils
- Semi-synthetic oils
- Mineral oils
- Bio-based lubricants
- fats
By application:
- engine oil
- Suspension oil
- Break oil
- Chain oil
By type of two wheels:
- motorcycle
- Standard
- Cruise ship
- sports
- mopeds
- scooter
- Standard
- Max
- Closed
- three wheels
By sales channel:
By region:
- North America
- Latin America
- europe
- South Asia
- east asia
- oceania
- Middle East and Africa (MEA)
About IMF
Future Market Insights (an ESOMAR-certified market research organization and member of the Greater New York Chamber of Commerce) provides detailed insight into the driving factors driving market demand. It reveals opportunities that will drive market growth across various segments based on source, application, sales channel, and end-use over the next 10 years.
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