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The global automotive lubricants market reached a value of about USD 73.41 billion in 2023. The industry is further expected to grow at a CAGR of about 2.0% in the forecast period of 2024-2032 to reach a value of around USD 88.06 billion by 2032.
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With a large number of on-road vehicles in nations like India, China, Japan, and South Korea, the Asia Pacific region is a significant market for automotive lubricants. Growth in the Asia Pacific region is expected to be driven by the rising economy, mega construction projects, introduction of various favourable policies by the government, such as 100% FDI and "Smart Cities", increasing urbanisation and disposable income, rapid growth in the automotive industry; growing transportation industry; and stringent regulations on CO2 emissions. Another important factor driving the market expansion is an increase in investments by the leading manufacturers in the region. The growing presence of significant lubricants and vehicle manufacturers in the region contributes to the region's automotive lubricants industry's growth. As the government focuses on replacing old vehicles, the demand for upgraded and high-performance lubricants is expected to rise. At the same time, India is the region's second-largest lubricant market and the world's third largest. China is the world's largest vehicle manufacturer. Also, major industry players are also shifting their production facilities to the highly lucrative Asia Pacific market owing to the presence of low-cost labour, ever-increasing demand, and favourable government policies.
Automotive lubricants are fluidic compounds that reduce friction between surfaces and protect automotive components from wear and tear. Engine oils, transmission fluids, grease oils, process oils, and general industrial oils are some of the most often used automobile lubricants. Engines, hinges, bearings, and hydraulic gears, all benefit from these lubricants because they reduce heat created between parts and improve the efficiency and performance of crucial components.
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By product type, the market includes:
The various materials in the market are:
Based on the vehicle type, the market is divided into:
The regional markets for the automotive lubricants industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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The significant growth of the automobile sector around the world is one of the key factors contributing to the market's positive outlook. The increasing use of high-performance lubricants is propelling the market forward. Premium high-viscosity engine oils are used to lubricate internal combustion engines, forming a thin coating between moving components, and allowing smooth operation. Increased demand for heavy-duty motor vehicle engine oils to withstand extreme geographic conditions and meet emission criteria in on- and off-highway heavy vehicles is also contributing to market expansion. Other growth-inducing factors include product developments such as the introduction of chemical-free bio-based automobile lubricants. These lubricants provide superior lubricity and aid in minimising the adverse effects on the environment caused by synthetic lubricants. Other factors, including rising expenditure capacities of the consumers and extensive research and development activities for improvements in oil quality, are anticipated to drive the market growth. Over the forecast period, rising motorcycle sales are expected to bolster this growth even further. Rising per capita income and increasing need for individualised transportation options have driven the sale of cars in several countries.
The report gives a detailed analysis of the following key players in the global automotive lubricants industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment
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| Breakup by Product Type |
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| Breakup by Material |
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| Breakup by Vehicle Type |
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| Breakup by Region |
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| Market Dynamics |
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| Price Analysis |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global automotive lubricants market attained a value of nearly USD 73.41 billion.
The market is projected to grow at a CAGR of 2.00% between 2024 and 2032.
The global automotive lubricants market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 88.06 billion by 2032.
The major drivers of the market include the growing economy, mega construction projects, introduction of various favourable policies by the government, increasing urbanisation and disposable income, growing transportation industry, and increasing need for individualised transportation options.
A significant growth in the automobile sector and increased use of high-performance lubricants are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different product types are engine oils, transmission oils, hydraulic fluids, and grease, among others.
The various materials in the market are mineral oils, synthetic oils, semi-synthetic oils, and bio-based oils.
Based on the vehicle type, the market is divided into passenger vehicles, commercial vehicles, and motorcycles.
The major players in the industry are AMSOIL Inc., Bharat Petroleum Corporation Limited, BP International Limited, Chevron Corporation, China National Petroleum Corporation, ENEOS Corporation, Indian Oil Corporation Limited, and Exxon Mobil Corporation, among others.
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193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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