Dublin, April 27, 2023 (GLOBE NEWSWIRE) — The report “UK Automotive Lubricants Market by Vehicle Type, by Application, by Type, by Demand Category, by Region, competition and opportunities forecast, 2027” a ResearchAndMarkets.com’s offers
The UK automotive lubricants market is expected to register growth at an impressive CAGR during the forecast period 2023-2027
The growth of the market can be attributed to the increasing demands of car ownership. Higher sales of passenger cars and commercial vehicles further drive the growth of the UK automotive lubricants market over the next five years.
Rapid adoptions of high-performance lubricants and various environmental factors also support the growth of the UK automotive lubricants market over the next five years. Constant research and technological advancement further support the growth of the market.
Higher vehicle sales are driving the market growth
Increasing production scales, and thus passenger car sales, are primarily driving the growth of the UK automotive lubricants market over the next five years. Rapidly increasing demands for passenger cars and light commercial vehicles, along with increasing sales of the same, is driving the growth of the UK automotive lubricants market over the next five years.
With higher disposable income, the population is highly inclined towards owning their personal vehicle, thus increasing passenger card sales and thus the growth of the UK automotive lubricants market over the next five years.
In 2021, 932.49 thousand vehicles were produced in the UK. Of which, the total production of passenger cars stands at 859,580 units in the United Kingdom.
Although productions were lower compared to domestic sales, imported vehicles met the increased demand. In 2021, 1.65 million passenger car units were sold in the UK. These factors further aided the growth of the UK automotive lubricants market in the next five years.
Competitive landscape
Detailed analysis of the major companies present in the UK automotive lubricants 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
Scope of the report:
UK Automotive Lubricants Market, by Vehicle Type:
- Passenger car
- Light commercial vehicle (LCV)
- Medium and Heavy Commercial Vehicle (M&HCV)
- Two-wheeled vehicle
- OTR
UK Automotive Lubricants Market, by Application:
- engine oil
- Transmission oil
- Hydraulic fluids
- fats
- others
UK Automotive Lubricants Market, by Type:
UK Automotive Lubricants Market, by Demand Category:
UK Automotive Lubricants Market, by Region:
- London
- East Anglia
- southwest
- South East
- Scotland
- East Midlands
- Yorkshire and Humberside
For more information on this report, visit https://www.researchandmarkets.com/r/4zjwjg
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