Global GCC Automotive Lubrication Services Market to Register Exponential Compound Annual Growth Rate Through 2028
Automotive lubrication services includes lubrication of all moving parts of automobiles by applying greasy or oily substance, so as to lessen the friction. Automotive lubrication services consist of services such as oil changes, and preventive maintenance. Some GCC companies in automotive lubrication services also provide services such as routine maintenance services, for instance, adjusting tire pressure, changing windshield wipers, replacing light bulbs, repairs, and topping off fluid levels. The automotive industry is in growth phase and also, GCC automotive aftermarket industry reached to US$ 7.5 billion in 2012. Lubrication is very important for automobiles, without lubrication the automobile would consume more power and automobile parts may get damaged. Lubrication acts as a coolant, a noise-reducing cushion, and a sealant between engine piston rings and cylinder walls.
Automotive lubrication services can be segmented by type and by application. On the basis of type it can be segmented as Boundary lubrication, Hydrostatic lubrication services, Fluid film lubrication services, Hydrodynamic lubrication services, Elastohydrodynamic lubrication services. On the basis of application it can be segmented as lubrication services for heavy vehicles and lubrication services for light vehicles.
Automotive Lubrication services sector has growing market in GCC region. Growth in population over the past year has led to the increase in the number of vehicles on the road which automatically enable the growth of automotive lubrication services. Also it is found that people are generally using their cars for longer time and this creates a vast segment of out-of-warranty vehicles requiring repairs, replacement parts and lubrication services. Other factors enhancing the growth of lubrication services market in GCC region are challenging economy, aging vehicle population, and increasing transportation. Total number of registered cars and pick-ups in the GCC are expected to record single-digit CAGR during the forecast period. Also the no. of busses and trucks was around 1 million 2014.
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Some major players in automotive lubrication services in GCC region are Chevron Corporation, Jiffy Lube, ExxonMobil Fuels & Lubricants, Royal Dutch Shell, Petromin, and Alhamrani-Fuchs Petroleum. These companies provide various innovative and technically superior services such as inspection and/or emissions testing, engine service (change and replace oil), drivetrain services in which old fluid is removed and replaced by new lubricating fluid, cooling system in which old antifreeze is removed from radiator and replaced it with new antifreeze, brake services, lubrication services for all moving parts of an automotive.
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