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Automotive Lubricants Market Share, Growth & Forecast [2031]
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Automotive Lubricants Market Share, Growth & Forecast [2031]

Segments - Automotive Lubricants Market by Oil Types (Semi-synthetic, Synthetic, and Conventional), Product Types (General Industrial Oil, Transmission and Hydraulic Fluids, Engine Oil, Gear Oil, Coolant, and Brake Fluid & Greases), Vehicle Types (Light Commercial Vehicles, Passenger Cars, Heavy Commercial Vehicles, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Akash Vedpathak
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :AL-2031 | 4.7 Rating | 78 Reviews | 190 Pages | Format : PDF Excel PPT

Report Description


Automotive Lubricants Market Outlook 2031

The global automotive lubricants market size was valued at USD 74.80 billion in 2022 and is estimated to reach USD 86.13 billion by 2031, expanding at a CAGR of 1.58% during the forecast period, 2023–2031. The growth of the market is attributed to increasing demand for high-performance and lightweight vehicles in emerging economies, rising need for high-performance lubricants, and growing disposable income.

Lubricant is a fluidic material that is used to minimize wear and tear by reducing friction between contact surfaces. Depending on end-uses, it is made using appropriate additives and base oils from specific groups. Automotive lubricants are essential for a vehicle's efficient operation and protection.

Automotive Lubricants Market Outlook

A variety of automotive lubricants is available in the market, each having a different source or base oil. Mineral-based lubricants comprise the majority of lubricants. In the automotive sector, lubricants are utilized in a variety of applications, including brake systems, fuel systems, body component stamping, and gearbox production. Automotive lubricants help in temperature control by collecting heat generated by the vehicle's moving parts and transmitting it to the sump or cooler.

Drivers

  • Rising adoption of high-performance lubricants is expected to spur the market growth during the forecast period. Automotive lubricants play a vital role in maintaining the appropriate and improved operation of consumer and industrial vehicles in a variety of challenging and severe environments. Tractor engine oils maintain and ensure a tractor's performance in harsh environments and field circumstances and enable hardware compatibility with unbroken toughness and quality.
  • Growing demand for high-performance and lightweight vehicles is estimated to fuel the market in the coming years. As the number of vehicles on the road increases, the demand for lubricants increases.
  • Rising disposable income across the globe and economic expansion are anticipated to boost the market during the forecast period.

Restraints

  • Growing demand for electric vehicles is projected to hinder the market growth during the forecast period. Electric vehicle sales are expected to increase in the coming years, presenting a challenge to market growth, as these vehicles do not consume engine oil.

Opportunities/Trends

  • R&D investment and technological advancement to develop new synthetic lubricants are expected to create immense opportunities for the market players.

Scope of The Automotive Lubricants Market Report

The report on the global automotive lubricants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

                          Attributes                               

Details

Report Title

Automotive Lubricants Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Oil Types (Semi-synthetic, Synthetic, and Conventional), Product Types (General Industrial Oil, Transmission and Hydraulic Fluids, Engine Oil, Gear Oil, Coolant, and Brake Fluid & Greases), Vehicle Types (Light Commercial Vehicles, Passenger Cars, Heavy Commercial Vehicles, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast

Key Players covered in the Report

Royal Dutch Shell Plc., Exxon Mobil Corporation, Total S.A., BP Plc., Chevron Corporation, PetroChina Company Limited, Valvoline, BASF SE, Indian Oil Corporation Ltd., and FUCHS Lubricants

Global Automotive Lubricants Market Segment Insights

Based on oil types, the market is divided into semi-synthetic, synthetic, and conventional. The conventional segment is expected to account for a key share of the market during the forecast period, due to its low price. This factor increases the adoption of this segment in many developed regions including North America and Europe.

Automotive Lubricants Market Oil Types
In terms of product types, the global automotive lubricants market is segregated into general industrial oil, transmission and hydraulic fluids, engine oil, gear oil, coolant, and brake fluid & greases. Engine oil is essential for the correct operation of an automobile's engine, which is commonly referred to as the "heart" of the vehicle.

Engine oil keeps the engine cool while assisting in the efficient functioning of moving parts. Engine oil must be changed regularly to extend the life of the engine and prevent dirt and pollutants from accumulating.

Automotive Lubricants Market Product Types

Based on vehicle types, the market is segmented into light commercial vehicles, passenger vehicles, heavy commercial vehicles, and others. The passenger vehicles segment is projected to represent a key share of the market during the forecast period, due to growth in global demand for passenger vehicles, increasing expenditure on public transportation, and consumers' preferences for efficient and convenient transportation.

On the basis of regions, the global automotive lubricants market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market at a high CAGR during the forecast period. Developing countries in Asia Pacific are expected to maintain steady growth rates, due to increased expansion of the global economy. Furthermore, increasing investments by key manufacturers in the region is another important factor driving the market.

Automotive Lubricants Market By Regions

Segments

 

By Oil Types

  • Semi-synthetic
  • Synthetic
  • Conventional

By Product Types

  • General Industrial Oil
  • Transmission and Hydraulic Fluids
  • Engine Oil
  • Gear Oil
  • Coolant
  • Brake Fluid & Greases

By Vehicle Types

  • Light Commercial Vehicles
  • Passenger Cars
  • Heavy Commercial Vehicles
  • Others

By Regions

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

By Key Players

  • Royal Dutch Shell Plc
  • Exxon Mobil Corporation
  • Total S.A
  • BP Plc
  • Chevron Corporation
  • PetroChina Company Limited
  • Valvoline
  • BASF SE
  • Indian Oil Corporation Ltd
  • FUCHS Lubricants

Competitive Landscape

Key companies introduced significant financial investments in R&D to develop advanced products that meet market demands. Royal Dutch Shell Plc., Exxon Mobil Corporation, Total S.A., BP Plc., Chevron Corporation, PetroChina Company Limited, Valvoline, BASF SE, Indian Oil Corporation Ltd., and FUCHS Lubricants are among the industry's major players.

Automotive Lubricants Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Automotive Lubricants Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Automotive Lubricants Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Automotive Lubricants Market - Supply Chain
  4.5. Global Automotive Lubricants Market Forecast
     4.5.1. Automotive Lubricants Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Automotive Lubricants Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Automotive Lubricants Market Absolute $ Opportunity
5. Global Automotive Lubricants Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Automotive Lubricants Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Automotive Lubricants Demand Share Forecast, 2019-2026
6. North America Automotive Lubricants Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Automotive Lubricants Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Automotive Lubricants Demand Share Forecast, 2019-2026
7. Latin America Automotive Lubricants Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Automotive Lubricants Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Automotive Lubricants Demand Share Forecast, 2019-2026
8. Europe Automotive Lubricants Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Automotive Lubricants Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Automotive Lubricants Demand Share Forecast, 2019-2026
9. Asia Pacific Automotive Lubricants Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Automotive Lubricants Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Automotive Lubricants Demand Share Forecast, 2019-2026
10. Middle East & Africa Automotive Lubricants Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Automotive Lubricants Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Automotive Lubricants Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Automotive Lubricants Market: Market Share Analysis
  11.2. Automotive Lubricants Distributors and Customers
  11.3. Automotive Lubricants Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Royal Dutch Shell Plc Exxon Mobil Corporation Total S.A BP Plc Chevron Corporation PetroChina Company Limited  

Methodology

Our Clients

General Electric
Pfizer
sinopec
Siemens Healthcare
Dassault Aviation
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The John Holland Group
Microsoft