The Global Automotive Lubricants Market size valued at USD 77.91 billion in 2019 and is estimated to garner USD 120.06 billion by 2030, at a CAGR of 3.9% during the forecast period from 2020 to 2030.
The automotive lubricants market observed a volumetric sale of 27,050 kilotons in 2019 and is projected to reside to 38,607 kilotons by 2030, expanding at a CAGR of 3.2% during the forecast period.
The use of automotive lubricants reduce friction between two surfaces in mutual contact, thus ensure smooth functioning and high performance of vehicles. These lubricants enhance the engine efficiency and increase the lifespan of vehicles by reducing wear and tear of the automotive components. Automotive lubricants reduce the access heat generated during engine operations by absorbing and transmitting it to the cooler section, and thereby maintain the vehicle’s temperature. Furthermore, the use of the lubricants lowers the fuel consumptions as they increases the efficiency of automotive engines.
Market Dynamics and Trends
Growing demand for commercial utility vehicles and passenger cars is creating the demand for automotive lubricants throughout the forecast period. Also, implementation of stringent environmental emission standards, and rise in inclination towards electric vehicle and risks of environmental hazard linked with the use of mineral oil lubricants are expected to impede the market growth. On the other hand, inclination towards highly-efficient-low-emission production processes and product launches by market players increase the competition, thus creating lucrative opportunities in the global automotive lubricants market.
Market Segmentations and Scope of the Study:
The global automotive lubricants market is segmented based on base oil, vehicle type, application, and geography. On the basis of base oil, the market is segregated into mineral oil lubricants, synthetic lubricants, semisynthetic lubricants, and bio-based lubricants. In terms of application, the automotive lubricants market is fragmented into engine oil, gear & brake oil, transmission fluids, greases, and others. In terms of vehicle type, the market is divided into passenger cars, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and others (motorbikes). Based on geography, the market is fragment into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Geographical Analysis
The market in North America is expected to grow at a considerable pace due to the increasing demand for personal vehicle. The market in Europe is projected to expand at a significant pace owing to the high demand and production of synthetic and semi-synthetic oil in this region. Asia Pacific is expected to dominate the global automotive lubricants market owing to presence of emerging economies, increasing disposable income, rapid urbanization, growing transportation industry, presence of key lubricant manufacturers in this region, and high demand for vehicles.
Competitive Landscape
Key players in the global automotive lubricants market include Exxon Mobil Corporation, Royal Dutch Shell Plc., Total S.A., BP Plc., PetroChina Company Limited, Chevron Corporation, Valvoline, Indian Oil Corporation Ltd., FUCHS Lubricants, and BASF SE.
In December 2019, Chevron Corporation, announced a conditional Share Sale Agreement with Puma Energy Asia Pacific B.V. to acquire all shares and equity interests of Puma Energy (Australia) Holdings Pty Ltd for AU$425 million. This acquirement is expected to empower Chevron with a stable market for production volumes from Puma’s refining joint ventures in Asia and creating a foundation for sustainable earnings growth.
In January 2020, Total and Apache made an oil discovery with the Maka Central no.1 well on Block-58 offshore Suriname, on trend with the prolific discoveries in the adjacent Stabroek block in Guyana.
KEY MARKET SEGMENTS:
- Global Automotive Lubricants Market - By Base Oil
o Mineral Oil Lubricants
o Synthetic Lubricants
o Semisynthetic Lubricants
o Bio-based Lubricants
- Global Automotive Lubricants Market - By Application
o Engine Oil
o Gear & Brake Oil
o Transmission Fluids
o Greases
o Others
- Global Automotive Lubricants Market -By Vehicle Type
o Passenger Cars
o Light Commercial Vehicles (LCV)
o Heavy Commercial Vehicles (HCV)
o Others (Motorbikes)
- Global Automotive Lubricants Market -By Geography
o North America
U.S.
Canada
Mexico
o Europe
UK
Germany
France
Russia
Rest of Europe
o Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
o RoW
UAE
Saudi Arabia
South Africa
Brazil
Remaining Countries
KEY PLAYERS:
- Exxon Mobil Corporation
- Royal Dutch Shell Plc.
- Total S.A.
- BP Plc.
- PetroChina Company Limited
- Chevron Corporation
- Valvoline
- Indian Oil Corporation Ltd.
- FUCHS Lubricants
- BASF SE
What is the estimated value of the Automotive Lubricants Market?
What is the growth rate of the Automotive Lubricants Market?
What is the forecasted size of the Automotive Lubricants Market?
Who are the key companies in the Automotive Lubricants Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 487 |
| Published | September 2020 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 70.2 Billion |
| Forecasted Market Value ( USD | $ 120.1 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Table of Contents
Executive Summary
“Automotive Lubricants Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2030 - Shift in consumer preference for sustainable lubricants and rise in demand for passenger cars and lightweight vehicles are key drivers of the global Automotive Lubricants Market.Automotive Lubricants are used to reduce the friction between two surfaces of a component within a vehicle. Lubricants also help to regulate the temperature of a vehicle by absorbing the excess heat generated due to the moving parts in the vehicle, by transferring it to the cooler or sump. Automotive lubricants are normally used as transmission fluids or engine oil and brake oil. With the growing demand for passenger vehicles, & light commercial vehicles the market for automotive lubricants is also growing. Demand for automotive lubricants are on the rise especially from the developing countries in Asia Pacific including India, China, and many Southeast Asian countries owing to the increased vehicle ownership.
The global automotive lubricants market is segmented on the basis of base oil, vehicle type, application, and geography. On the basis of base oil, the market is segmented into mineral oil lubricants, synthetic lubricants, semi-synthetic lubricants, and bio-based lubricants. Based on application the market is segmented into engine oil, gear and brake oil, transmission fluids, greases, and others. On the basis of vehicle type, the market is divided into passenger cars, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and others (motorbikes). The regional segmentation includes North America, Europe, Asia-Pacific, and RoW with further bifurcation into major countries such as the U.S., U.K., France, and others.”
Companies Mentioned
A selection of companies mentioned in this report includes:
- Exxon Mobil Corporation
- Royal Dutch Shell Plc.
- Total S.A.
- BP Plc.
- PetroChina Company Limited
- Chevron Corporation
- Valvoline
- Indian Oil Corporation Ltd.
- FUCHS Lubricants
- BASF SE
