The global automotive lubricants market was valued at $77.8 billion in 2022, and is projected to reach $116.1 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.
Automotive lubricants are specialized fluids designed to reduce friction and wear among moving parts in an automobile's engine and other mechanical components. These lubricants are essential for the proper functioning and longevity of a vehicle's engine and various systems. Automotive lubricants serve various critical functions to ensure the performance, longevity, and safety of vehicles on the road. It plays a vital role in the automotive industry by contributing to vehicle efficiency, reducing maintenance costs, and improving the overall driving experience. Automotive components are used by original equipment manufacturers (OEMs), which thereby creates high demand in the aftermarket. Use of automotive lubricants results in higher weight saving and improves the fuel economy than the traditional materials such as steel and aluminum.
The U.S. Department of Energy (DOE) announced an investment of $19.7 million for the Vehicle Technologies Office to support R&D of advanced vehicle technologies, including batteries and lightweight & low-cost automotive lubricants for the development of energy-efficient automobiles. In addition, the overall demand for automotive lubricants is closely tied to the number of vehicles being sold and produced worldwide. As the global automotive industry expands, the need for lubricants to maintain and service these vehicles increases. These factors are expected to drive the market growth in the automotive industry during the forecast period.
Traditional petroleum-based lubricants have negative environmental impacts, especially if they leak or are improperly disposed of. They contaminate soil and water, leading to pollution and ecosystem harm. However, many efforts are made to produce more environmentally friendly lubricants. The production of petroleum-based lubricants relies on fossil fuels, contributing to resource depletion and greenhouse gas emissions. This dependence on non-renewable resources raises concerns about long-term sustainability. These factors are projected to hamper market growth during the forecast period.
As the global economy expands, there is a rise in demand for goods and services, driving the need for industrial production. Emerging markets and developing economies, in particular, contribute to this growth as they industrialize and increase their consumption. Technological innovation and automation have revolutionized industrial processes, making production more efficient, cost-effective, and scalable. Automation and Industry 4.0 technologies (such as IoT, AI, and robotics) have improved productivity and quality across various industries. Lubricants are not limited to passenger vehicles; they are also essential in various industrial applications, including manufacturing machinery, construction equipment, and agricultural machinery. Expansion into these sectors diversifies a lubricant manufacturer's customer base. These factors are projected to enhance the automotive lubricant market; thus, offering most lucrative opportunities during the forecast period.
Automotive lubricants are specialized fluids designed to reduce friction and wear among moving parts in an automobile's engine and other mechanical components. These lubricants are essential for the proper functioning and longevity of a vehicle's engine and various systems. Automotive lubricants serve various critical functions to ensure the performance, longevity, and safety of vehicles on the road. It plays a vital role in the automotive industry by contributing to vehicle efficiency, reducing maintenance costs, and improving the overall driving experience. Automotive components are used by original equipment manufacturers (OEMs), which thereby creates high demand in the aftermarket. Use of automotive lubricants results in higher weight saving and improves the fuel economy than the traditional materials such as steel and aluminum.
The U.S. Department of Energy (DOE) announced an investment of $19.7 million for the Vehicle Technologies Office to support R&D of advanced vehicle technologies, including batteries and lightweight & low-cost automotive lubricants for the development of energy-efficient automobiles. In addition, the overall demand for automotive lubricants is closely tied to the number of vehicles being sold and produced worldwide. As the global automotive industry expands, the need for lubricants to maintain and service these vehicles increases. These factors are expected to drive the market growth in the automotive industry during the forecast period.
Traditional petroleum-based lubricants have negative environmental impacts, especially if they leak or are improperly disposed of. They contaminate soil and water, leading to pollution and ecosystem harm. However, many efforts are made to produce more environmentally friendly lubricants. The production of petroleum-based lubricants relies on fossil fuels, contributing to resource depletion and greenhouse gas emissions. This dependence on non-renewable resources raises concerns about long-term sustainability. These factors are projected to hamper market growth during the forecast period.
As the global economy expands, there is a rise in demand for goods and services, driving the need for industrial production. Emerging markets and developing economies, in particular, contribute to this growth as they industrialize and increase their consumption. Technological innovation and automation have revolutionized industrial processes, making production more efficient, cost-effective, and scalable. Automation and Industry 4.0 technologies (such as IoT, AI, and robotics) have improved productivity and quality across various industries. Lubricants are not limited to passenger vehicles; they are also essential in various industrial applications, including manufacturing machinery, construction equipment, and agricultural machinery. Expansion into these sectors diversifies a lubricant manufacturer's customer base. These factors are projected to enhance the automotive lubricant market; thus, offering most lucrative opportunities during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive lubricants market analysis from 2022 to 2032 to identify the prevailing automotive lubricants market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive lubricants market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive lubricants market trends, key players, market segments, application areas, and market growth strategies.
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- Investment Opportunities
- Product Benchmarking / Product specification and applications
- Product Life Cycles
- Pain Point Analysis
- Regulatory Guidelines
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- List of customers/consumers/raw material suppliers- value chain analysis
- Product Consumption Analysis
Key Market Segments
By Base Oil
- Synthetic Lubricants
- Semisynthetic Lubricants
- Bio-Based Lubricants
- Mineral Oil Lubricants
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
By Application
- Engine Oil
- Gear and Brake Oil
- Transmission Fluids
- Greases
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- FUCHS
- Indian Oil Corporation Limited
- PetroChina Company Limited
- Chevron Corporation
- Exxon Mobil Corporation
- TotalEnergies
- BP p.l.c.
- Valvoline Inc.
- Royal Dutch Shell PLC
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE LUBRICANTS MARKET, BY BASE OIL
CHAPTER 5: AUTOMOTIVE LUBRICANTS MARKET, BY VEHICLE TYPE
CHAPTER 6: AUTOMOTIVE LUBRICANTS MARKET, BY APPLICATION
CHAPTER 7: AUTOMOTIVE LUBRICANTS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the automotive lubricants market was valued at $77.8 billion in 2022, and is estimated to reach $116.1 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.Automotive lubricant is a specialized fluid designed to reduce friction and wear among moving parts in an automobile's engine and other mechanical components. These lubricants are essential for proper functioning and longevity of a vehicle's engine & various systems. Different types of automotive lubricants are available in the market such as engine oil, differential fluid, brake fluid, and others.
There is growing interest in reducing the environmental impact of automotive lubricants. Mineral oil lubricants are derived from fossil fuels and contribute to carbon emissions. As a result, manufacturers are developing low-viscosity mineral oil lubricants that improve fuel efficiency and reduce emissions.
Large-scale production allows manufacturers to benefit from economies of scale. When producing a high volume of vehicles, the cost per unit decreases, making each vehicle more cost-effective to produce. This leads to lower manufacturing costs and, ideally, lower prices for consumers. Mass production methods, such as assembly lines and standardized components, enable manufacturers to streamline production processes and reduce labor and material costs. This efficiency helps maintain or increase profit margins.
Modern vehicles are equipped with advanced engine technologies, including turbochargers, direct fuel injection, and variable valve timing. These technologies often require specialized lubricants to meet performance and emissions standards, driving demand for advanced lubricants. In addition, older vehicles tend to require more frequent lubricant changes and maintenance. As the average age of the vehicle fleet increases, there is a higher demand for lubricants to keep these vehicles running smoothly. These factors together are expected to enhance the market demand for automotive lubricants during the forecast period.
Traditional petroleum-based lubricants have negative environmental impacts, especially if they leak or are improperly disposed of. They contaminate soil and water, leading to pollution and ecosystem harm. However, many efforts are made to produce more environmentally friendly lubricants. The production of petroleum-based lubricants relies on fossil fuels, contributing to resource depletion and greenhouse gas emissions. This dependence on non-renewable resources raises concerns about long-term sustainability. These factors are projected to hamper market growth during the forecast period.
As the global economy expands, there is a rise in demand for goods and services, driving the need for industrial production. Emerging markets and developing economies, in particular, contribute to this growth as they industrialize and increase their consumption. Technological innovation and automation have revolutionized industrial processes, making production more efficient, cost-effective, and scalable. Automation and Industry 4.0 technologies (such as IoT, AI, and robotics) have improved productivity and quality across various industries. Lubricants are not limited to passenger vehicles; they are also essential in various industrial applications, including manufacturing machinery, construction equipment, and agricultural machinery. Expansion into these sectors diversifies a lubricant manufacturer's customer base. These factors are projected to enhance the automotive lubricant market; thus, offering most lucrative opportunities during the forecast period.
In emerging economies, the expansion of vehicle fleets is significant. Countries like China and India have seen substantial growth in the number of vehicles on the road, contributing to increased demand for engine oil. Modern engines are designed for higher performance, efficiency, and emissions control. These advancements have led to the development of specialized engine oils that meet the specific requirements of advanced engines, driving demand for more advanced lubricants. These factors are driving the overall potential sales of automotive lubricants during the forecast period.
For the purpose of analysis, the global automotive lubricants scope covers segmentation based on source base oil, application, vehicle type, and geography. The base oil segment is categorized into mineral oil, synthetic, semisynthetic, and bio-based lubricants. On the basis of application, the market is classified into engine oil, gear & brake oil, transmission fluids, greases, and others. By vehicle type, it is divided into passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and others. In addition, it analyzes the current market trends across different regions, such as North America, Europe, Asia-Pacific, and LAMEA.
The report highlights numerous factors that influence the growth of the global automotive lubricants market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key market players to increase their market share and sustain the intense competition in the industry.
The major players operating in the global automotive lubricants market are FUCHS, Indian Oil Corporation Limited, PetroChina Company Limited, Chevron Corporation, Exxon Mobil Corporation, TotalEnergies, BP p.l.c., Valvoline Inc., Royal Dutch Shell PLC.
Key Findings:
On the basis of base oil, the mineral oil lubricants segment is expected to grow at a high CAGR, in terms of revenue, during the forecast period.Depending on vehicle type the passenger cars segment is expected to grow dominantly, in terms of revenue, during the forecast period.
Depending on application, the engine oil segment is expected to grow at a CAGR of 4.3%, in terms of revenue, during the forecast period.
Region wise, Asia-Pacific garnered a share of around 40% in 2022 in terms of revenue.
Companies Mentioned
- FUCHS
- Indian Oil Corporation Limited
- PetroChina Company Limited
- Chevron Corporation
- Exxon Mobil Corporation
- TotalEnergies
- BP p.l.c.
- Valvoline Inc.
- Royal Dutch Shell PLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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