Global Automotive Lubricants
Market Report
2024
Global Automotive Lubricants market size will be USD 95.33 Billion by 2030. Automotive Lubricants Industry's Compound Annual Growth Rate will be 4.64% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Global Automotive Lubricants market was valued at USD 73.20 billion in 2022 and will reach USD 96.39 billion by 2030, registering a CAGR of 3.5% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Automotive Lubricants Market Sales Revenue 2030 | $ 95.33 Billion |
Global Automotive Lubricants Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.64% |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Automotive Lubricants Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Automotive Lubricants are substances used in automobile parts to reduce the friction between two moving parts. The lubricants are solid or fluid material that prevents rust and corrosion from building on parts whereas they clean and cool down the engine. The automotive lubricants are made up of base oil and additives. Engine oil, gear oil, and hydraulic oil are some of the oils used in automotive parts. The use of private vehicles, high disposable income, consumer affordability, and increased on-road vehicles have boosted the Automotive Lubricants market. The increasing emergence of electric vehicles will likely hinder the Automotive Lubricants market.
Driving Factors:
The scarcity of engine oil produces smoke. Also, the emission of nitrogen oxides during combustion is causing pollution. Hence, the government has some rules and regulations for avoiding pollution by timely changing the oils and lubricants in vehicles. Environment Protection Act, of 1986, has given the standards for emission of smoke, vapor, etc from automobiles. Additionally, the Ministry of Environment and Forests has also laid the norms to ensure that standards for the emission of air pollutants from vehicles are kept corresponding with international standards. The government rules for the automotive industry are driving the Automotive Lubricants market.
According to the CEIC data, India Motor Vehicles Sales grew by 2.8% in March 2022. The rising income of the middle class and the increased population of youth is rapidly increasing the use of private vehicles. Increasing the use of private vehicles leads to the use of more lubricating oils. Increased mergers and acquisitions in the automobile industry are likely to boost the automobile industry and ultimately the Automotive Lubricants market. The disposable income is rising all over the world leading to a boost in the sales of vehicles which will fuel the Automotive Lubricants market.
Restraining Factor:
According to an article from the World Economic Forum, Electric vehicle (EV) car sales increased by 60% in 2022. The introduction of electric vehicles is the biggest hurdle for the Automotive Lubricants market. The demand for engine oil is maximum in the automotive lubricants market. The engine in vehicles is replaced by the motor in electric vehicles. Hence the use of oils is minimized in the electric vehicle as compared to the combustion engine. Hence such reasons are hindering the Automotive Lubricants market growth.
Impact of the COVID-19 Pandemic on the Automotive Lubricants Market:
The outbreak of COVID-19 has witnessed a negative impact on the Automotive Lubricants market growth. During the pandemic, automotive manufacturing and various industrial activities were temporarily closed. The government rules on transportation completely disturbed the supply chain which resulted in the fall of the Automotive Lubricants market. This causes a decrease in the use of lubricant oil, greases, and hydraulic fluids. The use of private vehicles as well as commercial vehicles decreased causing a decline in the consumption of lubricating oils. During the pandemic, the automobile industry has also decreased drastically. Such factors have restrained the growth of the Automotive Lubricants market.
Post-pandemic all the activities resumed and witnessed a positive impact. The number of on-road vehicles is increasing. The increase in the disposal income and economic stability is leading the automobile industry which will ultimately boost the demand for the Automotive Lubricants market in the coming years.
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Recent Developments:
FuelBuddy ties up with the Indian Oil Corp. Ltd. For doorstep delivery of automotive lubricants. As SERVO is holding the largest market share in the lubricant industry, the consumer demand for doorstep lubricants will gradually increase with the app FuelBuddy.
Valvoline Cummins India recently launched the Champ 4T Fuel Efficient engine oil which improves fuel efficiency by 8%. The test is conducted by the World Motorcycle Test Cycle (WMTC) in 2021. This innovation will make two-wheeler users ride up to 2,000 km more in the year.
The BS6-compliant range of lubricants is in line with the company's focus to offer cleaner, reliable, and affordable solutions. The all-weather coolants will be of the following types: ‘Smart Cool,’Ultra Cool,’ and antifreeze ‘Supreme Cool’ range. Smart Cool will be suitable for tropical weather conditions, Ultra Cool will be suitable for all weather conditions and Supreme Cool is especially made for extremely cold weather conditions.
Top Companies Market Share in Automotive Lubricants Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Regional Analysis
By region, the Automotive Lubricants market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
According to the Statista Research of Petroleum and Refinery, the Asia-Pacific region was largest in the demand for lubricants, with 44% of the world's demand. The Asia-Pacific region is the region of developing countries. The automotive industry is highly blooming in this region. Industrial development in the countries India, China, and Japan is expected to raise the demand for vehicles which will boost the automotive industry and ultimately Automotive Lubricants market in the next few years. China is the world's largest vehicle market both in demand and supply and has the largest lubricant market in the world. All such components make the Asia-Pacific region dominate the Automotive Lubricants market during the forecast period.
The current report Scope analyzes Automotive Lubricants Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Automotive Lubricants Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Lubricants Industry growth. Automotive Lubricants market has been segmented with the help of its Type, Application , and others. Automotive Lubricants market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Automotive Lubricants market.
Type of Automotive Lubricants analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Lubricants Industry. Request a Free Sample PDF!
The Engine Oil segment is projected to grow at the highest CAGR during the forecast period:
By application, the market is divided into Engine oil, Transmission Oils, Greases, and Hydraulic Fluids. Engine oil is used for the lubrication of the internal combustion engines. The engine oil is composed of 80-90% base oil and 10-20% additives. The main function of engine oil is to reduce friction and wear on moving parts. It helps in cleaning and cooling the engine. Hence changing engine oil at equal intervals of time increases the lifespan of the vehicle. Engine oil helps in slowing down the corrosion and avoids rusting of parts. Using engine oils reduces pollution by avoiding friction and fuel consumption is achieved. Thus, due to the following reasons, the Engine Oil segment is expected to continue its dominance during the forecast period.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Automotive Lubricants Market is witnessing significant growth in the near future.
In 2023, the Synthetic Automotive Lubricant Oil segment accounted for noticeable share of global Automotive Lubricants Market and is projected to experience significant growth in the near future.
The Engine oil segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies ExxonMobil Corp , Chevron Corp and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Synthetic Automotive Lubricant Oil, Semi-Synthetic Automotive Lubricant Oil, Conventional Automotive Lubricant Oil |
Application | Engine oil, Transmission Oils, Greases, Hydraulic Fluids |
List of Competitors | ExxonMobil Corp, BP PLC, Chevron Corp, Castrol India Ltd, JX Nippon Oil & Gas Exploration Corp, Valvoline LLC, China Petrochemical Corp, Lukoil, Petronas Lubricant International, PetroFer Chemie, Zeller Gmelin Gmbh & Co. KG, Royal Dutch Shell Co., Total Energies, Fuchs, Amsoil Inc., Phillips 66 Company, PetroChina Company Ltd., and Quaker Chemical Corp |
This chapter will help you gain GLOBAL Market Analysis of Automotive Lubricants. Further deep in this chapter, you will be able to review Global Automotive Lubricants Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Lubricants market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Synthetic Automotive Lubricant Oil have a significant impact on Automotive Lubricants market? |
What are the key factors affecting the Synthetic Automotive Lubricant Oil and Semi-Synthetic Automotive Lubricant Oil of Automotive Lubricants Market? |
What is the CAGR/Growth Rate of Engine oil during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Lubricants Market? |
Which region is expected to dominate the global Automotive Lubricants Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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