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 |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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 recovered in 2021, restoring the market's growth trajectory.
- Over the short term, the vast penetration of used vehicles and increasing vehicle manufacturing are the major factors driving the demand for the market studied.
- However, the increasing adoption of electric vehicles and counterfeiting of engine oils are expected to hinder the market's growth.
- Nevertheless, the growing prominence of bio-lubricants is expected to create new opportunities for the market studied.
- The Asia-Pacific region is expected to dominate the global market, with the majority of demand coming from China and India.
Automotive Lubricants Industry Segmentation
Automotive lubricants reduce friction between contacting surfaces, thereby minimizing energy loss. These lubricants are vital for ensuring vehicles operate smoothly and have a prolonged lifespan. Engine oil, the most prevalent lubricant, not only reduces friction among engine components but also prevents corrosion, combats rust, and aids in cleaning the engine.
The automotive lubricants market is segmented by product type, vehicle type, and geography. By product type, the market is segmented into engine oil, transmission and gear oils, hydraulic fluids, and greases. By vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and motorcycles. By geography, the market is segmented into Asia Pacific, North America, Europe, South America, Middle East, and Africa. The report also covers the automotive lubricant market size and forecasts for the automotive lubricant market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (liters).
| Product Type | |
| Engine Oil | |
| Transmission and Gear Oils | |
| Hydraulic Fluids | |
| Greases |
| Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles | |
| Motorcycles |
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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 Vast Penetration Of Used Vehicles Increasing Lubricant Demand
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1.1.2 Increase in Vehicle Manufacturing Bolstering Lubricant Consumption
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Increasing Adoption of Electric Vehicles
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1.2.2 Counterfeiting of Engine Oils
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1.2.3 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 Buyers
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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 Malaysia
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2.3.1.6 Thailand
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2.3.1.7 Indonesia
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2.3.1.8 Vietnam
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2.3.1.9 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 France
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2.3.3.4 Italy
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2.3.3.5 Spain
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2.3.3.6 NORDIC Countries
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2.3.3.7 Turkey
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2.3.3.8 Russia
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2.3.3.9 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 Colombia
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2.3.4.4 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 Qatar
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2.3.5.3 United Arab Emirates
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2.3.5.4 Nigeria
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2.3.5.5 Egypt
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2.3.5.6 South Africa
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2.3.5.7 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.
