China Heavy Duty Truck Lubricants Market - Forecast(2022 - 2027)
China Heavy Duty Truck Lubricants Market Overview 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. 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. The growing manufacturing sector along with the rapid increase in sales of heavy trucks for good transportation is further driving the market for lubricants during the forecast period. However, growing environmental concerns and the high cost of lubricants are likely to hamper the market growth during...