Brazil Automotive Lubricants Market Demand, Trends, Forecast 2023-2030
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Brazil Automotive Lubricants Market size at USD 700.09 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Brazil Automotive Lubricants Market size to expand at a CAGR of 6.09% reaching a value of USD 984.11 million by 2030. By volume, BlueWeave estimated the Brazil Automotive Lubricants Market size at 0.18 megatons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Brazil Automotive Lubricants Market size to expand at a CAGR of 5.87% reaching the volume of 0.26 megatons by 2030. Growing customer demand for sustainable lubricants and the need for high-performance automobiles are two key growth drivers for the Brazil Automotive Lubricants Market. Moreover, the growing car ownership and production are expected to propel the Brazil Automotive Lubricants Market over the forecast period.
Opportunity - Increasing demand for light commercial vehicles (LCVs)
Brazil is recording a significant surge in the demand for light commercial vehicles (LCVs), such as pick-up trucks, vans, and three wheelers in the country. In Brazil, trucks are mostly used as a necessary mode of transportation for moving freight. The growth in the demand for light commercial vehicles in Brazil is mainly attributed to their rising application for various purposes, including transport of parcels, market loads, fruits and vegetables, and others, owing to their advanced load-carrying capacity. The use of automotive lubricants in LCVs ensures fuel efficiency and high performance, which is driving the Automotive Lubricants Market in Brazil.
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Brazil Automotive Lubricants Market
Segmental Coverage
Brazil Automotive Lubricants Market – By Application
Based on application, the Brazil Automotive Lubricants Market is segmented into engine oil, gear & brake oil, transmission fluids, greases, and others. The engine oil segment dominates the Brazil Automotive Lubricants Market by application. Engine oil helps in improving the engine's performance by lubricating the engine parts that are often exposed to friction. The frequent use of engine oil prevents wear on engine parts, thus, eventually reducing maintenance costs. The brake oil also accounts for a substantial market share owing to its rising application in the hydraulic braking systems of modern cars.
Competitive Landscape
Major players operating in the Brazil Automotive Lubricants Market include Shell Brasil Petróleo Ltda, Castrol Brasil, Total Lubricants do Brasil Ltda, Lubrax (Petrobrás Lubrificantes e Derivados S.A.), Mobil Lubricants do Brasil Ltda (ExxonMobil), Texaco Lubricants do Brasil Ltda, Valvoline do Brasil Ltda, Ipiranga Lubrificantes, and Fuchs Lubricants do Brasil Ltda.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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