Increasing automobile production and sales coupled with growing demand for automotive repairing services to drive Australia automotive lubricants market through 2024
According to TechSci Research report, “Australia Automotive Lubricants Market By Vehicle Type, By Base Oil, By Lubricant Type, By Demand Category, By Sales Channel, Competition Forecast & Opportunities, 2024”, Australia automotive lubricants market is projected to grow at a CAGR of over 3% during the forecast period. Anticipated growth in the market can be attributed to upward trend of collaborations among original equipment manufacturers (OEMs) and lubricant manufacturers and suppliers across Australia. Moreover, rising production of light and heavy duty vehicles along with surging demand for automotive repair services is further likely to push demand for automotive lubricants across the country. Strong presence of mining industry in the country has resulted in high demand for heavy duty vehicles in the country, which is boosting demand for automotive lubricants.
Browse 87 market data Figures and Tables spread through 140 Pages and an in-depth TOC on “Australia Automotive Lubricants Market”
On the basis of vehicle type, Australia automotive lubricants market is segmented into passenger car, LCV, M&HCV, two-wheeler, OTR and tractors. Of all the auto segments, passenger car segment dominated the market in the previous year and is expected to continue its dominance during forecast period as well owing to rising demand for private cars across the country. Among regions, a large demand for automotive lubricants originates from Queensland. However, Southern Australia & Northern Territory are likely to witness the fastest growth during the forecast period on account of rising sales of automobiles in the regions.
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“New product launches by the companies operating in Australia automotive lubricants market coupled with the rising influx of leading international automotive lubricant suppliers in the country, is anticipated to positively impact the country’s automotive lubricants market over the next five years. Moreover, increasing focus on research and development to develop highly efficient products to increase drain interval is further likely to boost Australia automotive lubricants market until 2024.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Australia Automotive Lubricants Market By Vehicle Type, By Base Oil, By Lubricant Type, By Demand Category, By Sales Channel, Competition Forecast & Opportunities, 2024” has evaluated the future growth potential of Australia automotive lubricants market and provides statistics and 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 decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia automotive lubricants market.
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