Development trend of new energy vehicles and lubricating oil Base Oil industry in 2024
With the increasing global awareness of environmental protection and the transformation of energy structure, the new energy vehicle and lubricant base oil industry is ushering in unprecedented development opportunities. In 2024, these two industries are expected to show a number of significant trends.
I. Prosperity and development of the new energy automobile industry
The new energy vehicle industry has made significant progress in the past few years, especially in the field of electric vehicles. In 2024, this trend is expected to continue to strengthen. With the continuous progress of battery technology and the increasing perfection of charging facilities, the driving range and charging convenience of electric vehicles will be significantly improved, further promoting the popularity of electric vehicles.
At the same time, support at the policy level will continue to increase. In order to cope with climate change and reduce carbon emissions, governments have introduced a series of policies to encourage the development of new energy vehicles, such as car subsidies, free parking, free tolls and so on. These policies will further reduce the purchase cost and use cost of new energy vehicles and improve their market competitiveness.
In addition, with the continuous improvement of consumers' awareness of environmental protection and energy saving, the market demand for new energy vehicles will continue to grow. It is expected that in 2024, the penetration rate of new energy vehicles will be further improved, and the market size will continue to expand.
2. Transformation and upgrading of lubricating oil base oil industry
As an important part of the automobile industry chain, the lubricant base oil industry will also face the pressure of transformation and upgrading with the popularity of new energy vehicles. The demand for lubricating oil in traditional internal combustion engine vehicles is mainly focused on anti-wear, anti-oxidation and other aspects, while new energy vehicles have higher requirements for lubricating oil, such as low viscosity, high and low temperature performance.
Therefore, the lubricant base oil industry needs to accelerate technological innovation and product upgrades to meet the development needs of new energy vehicles. On the one hand, lubricant enterprises need to strengthen cooperation with new energy vehicle manufacturers, understand the specific needs of new energy vehicles for lubricating oil, and develop lubricating oil products that are more suitable for new energy vehicles. On the other hand, lubricant enterprises also need to strengthen their own technology research and development capabilities, improve the technical content and added value of products, in order to cope with the pressure of market competition.
In addition, with the increasingly stringent environmental regulations, the lubricant base oil industry also needs to strengthen the improvement of environmental awareness and the application of environmental protection technology. Lubricating oil enterprises need to reduce the emission of pollutants in the production process, improve the utilization efficiency of resources, and reduce the impact on the environment. At the same time, lubricant companies also need to strengthen the research and development of environmental performance of products, such as the development of renewable, low-emission lubricant products to meet market demand.
In summary, in 2024, the new energy vehicle and lubricant base oil industry will show a prosperous and development trend. The new energy vehicle industry will continue to maintain the momentum of rapid growth, and the market size will be further expanded; The lubricant base oil industry needs to accelerate technological innovation and product upgrading to meet the development needs of new energy vehicles, and strengthen the improvement of environmental awareness and the application of environmental protection technology. The synergistic development of the two industries will make an important contribution to global environmental protection and the transformation of the energy structure.
