China Heavy Duty Truck Lubricants Market - Forecast(2022 - 2027) - PowerPoint PPT Presentation

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China Heavy Duty Truck Lubricants Market - Forecast(2022 - 2027)

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China's heavy-duty truck lubricants market size is forecast to reach US$2.3 billion by 2026, after growing at a CAGR of 6.3% during 2021-2026. Lubricants are used as transmission fluids and hydraulic fluid to reduce friction between two surfaces of the components of a vehicle. – PowerPoint PPT presentation

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Title: China Heavy Duty Truck Lubricants Market - Forecast(2022 - 2027)


1
China Heavy Duty Truck Lubricants MarketMarket
size, Industry outlook, Market Forecast, Demand
Analysis, Market Share, Market Report  2022 - 2027
Contact Venkat Reddy sales_at_industryarc.com
(1) 970-236-3677
2
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  • China's heavy-duty truck lubricants market size
    is forecast to reach US2.3 billion by 2026,
    after growing at a CAGR of 6.3 during 2021-2026.
  • Lubricants are used as transmission fluids and
    hydraulic fluid to reduce friction between two
    surfaces of the components of a vehicle.
  • They are also used to control the vehicle's high
    temperature by absorbing the heat generated while
    the vehicle is running.
  • Lubricants offer various properties such as
    lubricity, high boiling point, corrosive
    prevention, and thermal stability among others.
  • The growing economic activities in China are
    boosting the market growth for heavy-duty truck
    lubricants.

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  • Key Takeaways
  • The growing usage of bio-based lubricants among
    heavy-duty trucks is driving the market growth.
    Bio-based lubricants are environmentally friendly
    and easily biodegradable compared to other
    lubricants available at the market place. 
  • Growing demand for high-performance vehicles
    among transportation and manufacturing sectors is
    driving the demand for heavy-duty truck
    lubricants.
  • The manufacturers are involved in developing
    advanced lubricants for the automotive sector.
    Investments in research and developments to
    enhance the capabilities of heavy-duty truck
    lubricants are supporting the market growth.

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By Distribution Channel- Segment Analysis The
mineral oil segment accounted for approximately
32 of the market share in 2020 and is estimated
to grow at a significant CAGR during the forecast
period. Mineral oils are lubricants derived from
refined crude petroleum oil. Mineral oil is ideal
for old vehicles and they are easily available
and cost less compared to other oil types.
Mineral oils also need to be changed more
frequently than synthetic oils this will further
increase the usage of mineral oil.  Mineral oil
provides more high-quality lubrication than
synthetic lubricants. The synthetic segment is
expected to hold a significant share and is
estimated to grow at a high CAGR during the
forecast period 2021-2026. 
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  • China Heavy Duty Truck Lubricants Market Industry
    Outlook 
  • Jiangsu LOPAL Tech. Co
  • Guangdong Delian Group Co
  • Shandong Yuangen Petroleum Chemical
  • Sinopec
  • PetroChina
  • Royal Dutch Shell Plc
  • Exxon Mobil Corporation
  • Total S.A
  • BASF SE

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China Heavy Duty Truck Lubricants  Market
Forecast (2022- 2027) Learn More About the
Report _at_ https//www.industryarc.com/Report/188
45/china-heavy-duty-truck-lubricants-market
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  • You Can Customize the Report as Per Your Need.
    We have included Some Customization Options
  • Company Profile
  • Analyst Briefing
  • Data Tables
  • Key Contacts
  • Free Customization
  • Purchase Full Report _at_
  • https//www.industryarc.com/purchasereport.php?id
    18845

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For More Details Contact Venkat
Reddy Contact (1) 970-236-3677 Email
sales_at_industryarc.com Connect with us on LinkedIn
_at_ http//www.linkedin.com/company/industryarc
Contact (1) 970-236-3677
Inquiry Before Buying
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