According to TechSci Research report, “Australia Automotive Lubricants Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Australia Automotive Lubricants Market stood at USD1.35 billion in 2022 and is anticipated to grow with a CAGR of 3.28% in the forecast period, 2023-2028. The initiatives taken by government based on automotive lubricants has led to favorable market conditions for the Australia Automotive Lubricants Market. Several factors contribute to the growth of various automotive lubricants market products.
The government is actively promoting the use of bio-based lubricants, which are derived from renewable resources such as plants or animal fats. These lubricants offer several advantages over traditional, petroleum-based lubricants. Not only do they have a lower environmental impact, but they also help reduce dependence on fossil fuels and contribute to a more sustainable future.
One of the initiatives supporting this transition is the Product Stewardship for Oil (PSO) Scheme. This scheme imposes a levy on oil-based lubricants, generating funds that are then utilized to provide benefits to used oil recyclers. By incentivizing recycling and ensuring proper disposal of used oils, the PSO Scheme plays a crucial role in reducing environmental pollution caused by oil-based lubricants.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on “Australia Automotive Lubricants Market” – https://www.techsciresearch.com/report/australia-automotive-lubricants-market/3447.html
Research and development (R&D) activities play a pivotal role in shaping and propelling the automotive lubricants market. These dynamic initiatives not only drive innovation but also pave the way for the development of cutting-edge lubricants that offer enhanced engine protection, improved fuel efficiency, and reduced environmental impact.
One noteworthy outcome of these R&D efforts is the creation of synthetic and semi-synthetic oils, which have revolutionized the industry with their superior performance and durability when compared to traditional mineral-based oils. These advanced lubricants have proven to be a game-changer, providing a significant boost to the overall efficiency and longevity of automotive engines, while also minimizing the environmental footprint. Such groundbreaking advancements highlight the invaluable contribution of R&D in continuously pushing the boundaries of automotive lubrication technology.
The Australia Automotive Lubricants Market is segmented in base oil, lubricant type, regional distribution, and company
Based on its base oil, the mineral segment held the largest share in the market. The rising use of lubricants in the automotive industry is one of the key factors driving the promising future outlook of the mineral-oil-based lubricants market. With the increasing demand for efficient and long-lasting performance of automotive engines, the importance of lubricants has grown significantly. The mineral oil segment has dominated the market due to its easy availability and low manufacturing cost of the product. This economic factor has played a significant role in keeping mineral oil at the forefront of the automotive lubricants market.
Moreover, the excellent lubricating properties and compatibility with a wide range of automotive engine components have further contributed to its popularity among manufacturers and consumers alike. As the automotive industry continues to evolve and adopt advanced technologies, the demand for high-quality lubricants is expected to rise, opening up new opportunities for the mineral-oil-based lubricants market to thrive.
Based on region, Australia Capital Territory & New South Wales segment is expected to grow during the forecast period.
Both ACT (Australian Capital Territory) and NSW (New South Wales) have well-developed infrastructure, including modern road networks, rail connections, and efficient transportation systems. Additionally, these regions boast convenient access to ports, making import and export activities seamless for lubricant manufacturers and distributors. This strategic advantage not only facilitates efficient logistics but also attracts businesses looking to expand their market reach and maximize their distribution capabilities.
Major companies operating in Australia Automotive Lubricants Market are:
- BP Australia Pty Ltd.
- Viva Energy Australia Pty Ltd
- Caltex Australia Ltd.
- Exxon Mobil Australia Pty Ltd.
- Valvoline (Australia) Pty Ltd.
Download Free Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=3447
Customers can also request for 10% free customization on this report
“Growing application of automotive lubricants in various end user industries are key drivers of the automotive lubricants market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of automotive lubricants with every passing year are anticipated to register an impressive growth to Australia Automotive Lubricants Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Automotive Lubricants Market By Base Oil (Mineral, Synthetic, Semi-Synthetic), By Lubricant Type (Engine Oil, Transmission Fluids, Gear Oils, Grease, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Australia Automotive Lubricants Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Australia Automotive Lubricants Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300, New York, Saudi Arabia- 10170
Email: sales@techsciresearch.com
M: +13322586602