The global automotive Synthetic Oil market size was USD 17.85 Billion in 2022 and is expected to register a revenue CAGR of 5% over the forecast period, according to the latest report by Reports and Data.

Automotive Synthetic Oils provide superior performance, longer drain intervals, and greater fuel efficiency. Automotive Synthetic Oils with increased fuel efficiency and lower emissions are becoming increasingly important in order to meet the severe regulatory emission and fuel consumption regulations. As a result, innovative automotive Synthetic Oils have been developed, and these oils are expected to fuel the market’s revenue growth over the forecast period.

In the coming years, the market revenue growth is expected to be propelled by the increasing adoption of electric cars (EVs). The global surge in the popularity of EVs is anticipated to significantly raise the demand for Synthetic Oils designed for EVs. Furthermore, the shift towards lightweight vehicles and the necessity to minimize friction losses in the drivetrain system will drive the need for advanced Synthetic Oils that offer improved lubrication and reduced wear and tear.

Additionally, the rising demand for automatic transmission systems is projected to contribute to market revenue growth. High-quality Synthetic Oils are indispensable for automatic transmission systems as they provide excellent lubrication, reduce wear and tear, and extend the lifespan of the transmission system. Moreover, the growing preference for cutting-edge technologies like semi-automatic and fully automated transmission systems will further stimulate market growth over the projected period.

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In the coming years, the automotive industry is poised for significant market revenue growth, largely driven by the increasing demand for automatic transmission systems. These systems have gained immense popularity due to their convenience and ease of use, making them the preferred choice for many consumers. In this context, the importance of high-quality Synthetic Oils cannot be overstated. These lubricants play a pivotal role in ensuring the smooth operation and longevity of automatic transmission systems.

High-quality Synthetic Oils are essential for automatic transmissions as they provide excellent lubrication, reducing friction and heat generation within the system. This, in turn, minimizes wear and tear on critical components, such as gears, clutches, and bearings. By decreasing friction and protecting against corrosion, these Synthetic Oils not only enhance the overall performance of the transmission but also extend its lifespan. This is a crucial factor in the eyes of consumers who seek durable and reliable vehicles.

Furthermore, the automotive industry is witnessing a growing trend towards cutting-edge technologies, with semi-automatic and fully automated transmission systems at the forefront of this innovation. These advanced transmission systems offer a seamless and efficient driving experience, making them highly desirable for consumers who prioritize convenience and the latest technological advancements. As the demand for such transmission systems continues to rise, it is expected to be a significant driver of market revenue growth throughout the projected period.

In conclusion, the automotive industry is undergoing a transformative shift towards automatic transmission systems, and the market’s future revenue growth is intrinsically linked to this trend. To ensure the optimal performance and durability of these systems, high-quality Synthetic Oils will be in high demand, making them a critical component of the automotive lubricants market. Simultaneously, the adoption of cutting-edge transmission technologies, such as semi-automatic and fully automated systems, is expected to further bolster market growth, catering to the evolving needs and preferences of consumers.

Product Type Outlook (Revenue, USD Billion; 2022 – 2032)

  • Synthetic Oil
  • Synthetic Oil
  • Semi-synthetic Oil

End-use Outlook (Revenue, USD Billion; 2022 – 2032)

  • Passenger Cars
  • Commercial Vehicles
  • Off-road Vehicles

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Some Key Highlights from the Report

  • Synthetic oil is the most basic Synthetic Oil and is commonly used in older vehicles and those with simpler gearboxes. Synthetic oil is often inexpensive and provides critical wear and tear prevention. It is widely used in transaxles and manual transmissions. Synthetic oil will have the largest revenue share in the global automobile Synthetic Oil market in 2021.
  • In 2021, the Passenger Cars segment claimed the largest revenue share in the global Automotive Synthetic Oil market. This can be attributed to the widespread usage of passenger cars on the roads, which necessitates regular maintenance, including the application of Synthetic Oil. As a result, the demand for Synthetic Oil in the passenger car segment remains high, contributing significantly to the market’s revenue.
  • The Asia Pacific region is expected to claim the most substantial revenue share in the global automobile Synthetic Oil market. This projection is based on the presence of sizable automotive industries in these nations, leading to a significant increase in the demand for automotive Synthetic Oil. Additionally, the region’s expanding middle class is driving the demand for passenger cars, which, in turn, boosts the need for automotive Synthetic Oil. Furthermore, the growth of the e-commerce sector in the region is anticipated to fuel revenue growth in the market. Online savings and convenience are projected to enhance the demand for automobile Synthetic Oil in this region.

Major Regions Highlighted in the Global Automotive Synthetic Oil Market Report:

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • K.
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Rest of Middle East & Africa

Top Companies Profiled in the Report:

ExxonMobil Corporation, Royal Dutch Shell plc, Chevron Corporation, BP p.l.c., TotalEnergies SE, Idemitsu Kosan Co., Ltd., LukSemi-synthetic Semi-synthetic Oil, Fuchs Petrolub SE, Castrol Limited, Valvoline Inc., and PennzSemi-synthetic Semi-synthetic Oil.

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