Market Size of Automotive Lubricants Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 22.38 Billion liters |
| Market Volume (2029) | 26.98 Billion liters |
| CAGR (2024 - 2029) | 3.81 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Lubricants Market Analysis
The Automotive Lubricants Market size is estimated at 22.38 Billion liters in 2024, and is expected to reach 26.98 Billion liters by 2029, growing at a CAGR of 3.81% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns worldwide, disruption in manufacturing activities and supply chains, and production halts negatively impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- In the short term, one of the major factors, like increasing EV production globally and demand from the automotive components industry, is expected to drive the market.
- On the flip side, low adoption rates of synthetic lubricants due to stringent environmental regulations for waste oil disposal are expected to hinder the market's growth.
- The bio-based lubricants development is expected to act as a market opportunity for the market studied.
- Asia-Pacific region is expected to dominate the market studied during the forecast period.
Automotive Lubricants Industry Segmentation
Lubricant is a fluidic material that reduces friction between contact surfaces to avoid wear and tear. Depending upon the end-uses, it is prepared with specific additives and specific group base oils. Automotive lubricants are mainly used as engines, gear, and hydraulic oils. The automotive lubricants market is segmented by product type, vehicle type, and geography. The market is segmented by product type into engine oil, transmission and gear oils, hydraulic fluid, and greases. The market is segmented by vehicle type into passenger vehicles, commercial vehicles, and motorcycles. The report also covers the market size and forecasts for the automotive lubricants market in 15 countries across major regions. For each segment, the report offers market size and forecasts for the global automotive lubricants market in volume (million liters) for all the above segments.
| Product Type | |
| Engine Oil | |
| Transmission and Gear Oils | |
| Hydraulic Fluids | |
| Greases |
| Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles | |
| Motorcycles |
| Geography | ||||||||
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Automotive Lubricants Market Size Summary
The automotive lubricants market is poised for steady growth over the forecast period, driven by factors such as the increasing production of electric vehicles and the rising demand from the automotive components industry. Despite the challenges posed by the COVID-19 pandemic, which led to disruptions in manufacturing and supply chains, the market has shown signs of recovery. However, the adoption of synthetic lubricants is hindered by stringent environmental regulations regarding waste oil disposal. The development of bio-based lubricants presents a significant opportunity for market expansion. The Asia-Pacific region is expected to dominate the market, with rapid industrialization and growing automotive industries in countries like China, India, and Japan contributing to this trend.
In Europe, Germany's robust automotive manufacturing sector, home to major car brands, supports the growth of the lubricants market through consistent investments in research and development and increased automotive production. Although traditional car sales have declined, the surge in electric vehicle registrations, bolstered by government initiatives, is expected to drive demand for engine oils. The competitive landscape of the automotive lubricants market is characterized by intense rivalry among key players such as Shell, BP, Exxon Mobil, and TotalEnergies, with strategic moves like TotalEnergies' partnership with MG Motor in Chile and Valvoline's divestment of its global products business to focus on retail services shaping the market dynamics.
Automotive Lubricants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from EV Production Worldwide
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1.1.2 Growing Demand for Automotive Components in Emerging Economies
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Stringent Environmental Regulations Regardng Used Oil Disposal
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Product Type
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2.1.1 Engine Oil
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2.1.2 Transmission and Gear Oils
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2.1.3 Hydraulic Fluids
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2.1.4 Greases
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2.2 Vehicle Type
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2.2.1 Passenger Vehicles
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2.2.2 Commercial Vehicles
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2.2.3 Motorcycles
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Automotive Lubricants Market Size FAQs
How big is the Automotive Lubricants Market?
The Automotive Lubricants Market size is expected to reach 22.38 billion liters in 2024 and grow at a CAGR of 3.81% to reach 26.98 billion liters by 2029.
What is the current Automotive Lubricants Market size?
In 2024, the Automotive Lubricants Market size is expected to reach 22.38 billion liters.
