London, United Kingdom, February 06, 2013 --(PR.com
)-- TechNavio today launched its report, Global Lubricant Market 2012-2016, based on an in-depth analysis covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers' understanding of the significant trends impacting this market.
Commenting on the report, an analyst from TechNavio's Engineering team said: ''The growth of the Global Lubricant market is a result of the increase in technological innovation across the globe. Currently, technological advancement is being witnessed across various manufacturing industries such as the Automotive, Food and Beverage, Textile, Agriculture, and Power industries. As efficiency and productivity have become the primary goals of any industry, organizations across industries need high-quality reliable energy-efficient manufacturing equipment which can operate at a high temperature and improve the productivity of plants. Therefore, several lubricant manufactures across the globe have started developing more thermally-stable and less volatile fluids that can be used in manufacturing equipment. Thus, this advancement in the field of technology will increase the demand for highly efficient lubricants with increased functional and operational competency during the forecast period.''
According to the report, one of the main drivers is the increasing demand for superior-quality lubricants from the Motor Vehicle Aftermarket segment. Vehicles such as passenger cars, light trucks, and vans are increasingly being adopted across the globe, especially in developing countries such as India and China. These vehicles utilize various types of lubricants at regular intervals for their consistent performance.
Further, the report reveals that one of the main challenges in this market is the increase in the price of lubricants.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.technavio.com/content/global-lubricant-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit http://www.technavio.com/engineering-software
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