Client’s Goal
The client wanted to assess the synthetic lubricants market to expand its manufacturing, sales, and distribution capabilities worldwide.
Our Approach
The key objective of the study was to assess the global and regional markets for different types such as engine oils, hydraulic fluids, metalworking fluids, compressor oils, gear oils, refrigeration oils, transmission fluids, and turbine oils.
- Analyst hours helped the client understand the consumption of synthetic lubricant products in each country.
- The information provided by us helped the company tap emerging economies and sectors and the projected overall opportunity of USD 37 billion by 2023.
As a part of our engagement model, access to all high-growth niche lubricants market survey reports was offered in KnowledgeStore. New revenue sources and unknowns were identified in connected ecosystems of our client, client’s clients, and their clients through client services.
Revenue Shifts
Increasing number of electric vehicles globally will impact the demand of synthetic lubricants as new sales of vehicles with ICE engine will be gradually replaced by electric vehicle.
Interconnections
Rising market of electric vehicle in different transportation application to reduce carbon footprint will create opportunity for aligned market of special grade lubricants.
Unknowns
Development of new and specific grade lube for electric vehicle such as EV fluid and EV grease is poised to impact the market.
Revenue Impact
Our insights impacted the client's revenue with an additional USD 20-25 million during the next five years from the synthetic lubricants business.
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