The global two-wheeler lubricants market size is set to enter a period of dynamic expansion on account of the increasing demand for two-wheelers around the world. This information is contained in a report by Fortune Business Insights™, titled “Two-Wheeler Lubricants Market, 2021-2028”.
There has been an increasing demand for two-wheeler lubricants due to the rising usage of two-wheelers across the world by a majority of the population. There are several benefits of two-wheeler lubricant such as it improves fuel efficiency, less oil consumption, longer oil and engine life, and others. This is a major factor driving the growth of this market. Further, the rising disposable income of the people across the world and their improved standard of living has resulted in the rising demand for different types of two-wheelers such as sports bikes, motorcycles, and others, which is projected to fuel this market’s growth.
However, the growing usage of electric vehicles in order to reduce the air pollution is expected to hinder the growth of this market.
The outbreak of the COVID-19 pandemic worldwide has resulted in the shutdown of numerous industries and businesses. Due to the lockdown and travel restrictions, there has been a decreasing demand for two-wheelers across several regions. As a result, the two-wheeler lubricants market has incurred heavy losses during this pandemic, posing challenges for the leading companies in this market.
On the basis of product type, this market is divided into engine oil, suspension oil, brake oil, and chain oil. Based on end-use, the market is classified into motorcycles and scooters. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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This report contains an in-depth analysis of the market drivers, trends, and restraints, along with a granular assessment of the various segments of the market. In addition, valuable insights into the regional opportunities impacting the market are also incorporated into the report, as well as a holistic examination of the major market players and their dominant strategies.
Rising Population across the World to Fuel the Market
There has been a constant growth in the world population over the years, which has led to an increasing demand for motorcycles and scooters which can be used as an affordable means of transport as compared to other vehicles. This can act as a major factor contributing to the growth of this market. Further, the two-wheeler lubricant helps to reduce the cost of maintenance of the vehicle and also protects the engine, gears, and the clutch, which results in high engine efficiency. This is another crucial factor responsible for the growth of this market.
Increasing Demand for Engine Oil Product to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate the two-wheeler lubricants market share on account of the increasing demand for the engine oil product in the motorcycles.
Europe is anticipated to grow speedily in this market due to the fast growth of the automotive industry in the countries such as the UK, Germany, Spain, and others.
North America region is expected to grow at a decent pace in this market due to the increasing adoption of brake and suspension oil in the scooters.
Rising Production of Two-Wheelers by Key Players to Boost Competition
The prominent companies in the two-wheeler lubricants market are concentrating on increasing their production capabilities of two-wheelers across several regions in this market. This will enable the key companies to expand their business operations and strengthen their market position.
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August 2019: Shell lubricants made a partnership with Honda two-wheelers. This partnership will help to expand Shell business in the motorcycle oil category.
List of Key Players Covered in Two-Wheeler Lubricants Market Report:
- HP Lubricants
- Nexton Lubricants
- Veedol India
- Amsoil Inc.
- Salasar Enterprises
- Paras Lubricants Ltd.
- Vip Oil Products Ltd.
- Nandan Petrochem Ltd.
- Bosch Limited
- BP Lubricants Pvt. Ltd.
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