Automotive Lubricants Market Size, Growth, Trends, Report 2023-2032
The global automotive lubricants market size was estimated at around USD 72.09 billion in 2022 and it is projected to hit around USD 101.89 billion by 2032, growing at a CAGR of 3.52% from 2023 to 2032. The automotive lubricants market in the United States was accounted for USD 8.2 billion in 2022.
Key Pointers
Report Scope of the Automotive Lubricants Market
| Report Coverage | Details |
| Revenue Share of Asia Pacific in 2022 | 57.24% |
| Revenue Forecast by 2032 | USD 101.89 billion |
| Growth Rate from 2023 to 2032 | CAGR of 3.52% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Exxon Mobil; Castrol; Shell; Repsol; LUKOIL; Sasol; Indian Oil Corporation Ltd; HP Lubricants; Philipps 66; Fuchs; Cepsa |
Growing demand for high-performance and lightweight vehicles in emerging economies such as India and China along with a shift in consumer preference towards sustainable lubricants is the key factor driving the market growth.
Increasing automotive production coupled with a shift in trend from heavy vehicles to lightweight vehicles is a key driving factor since the latter contributes significantly to weight savings and lower carbon emissions. A 10% reduction in the weight of an automobile results in approximately 5% to 7% fuel savings. In addition, the reduced weight also aids in controlling the emission of CO2 throughout the life cycle of the vehicle. It further helps the overall performance of the vehicle in terms of acceleration and handling. Moreover, the reduction in mass at unhinged points provides for a reduction in noise and vibration, making it a smoother ride. Thus, growing concerns regarding fuel consumption and greenhouse gas (GHG) emissions are expected to boost the demand for lubricants in commercial as well as passenger vehicles.
The U.S. is the largest consumer of the product in North America with a revenue share of 67.7% in 2022. According to the International Trade Administration, the U.S. is the second largest market for sales and production of vehicles in 2022 with light vehicles accounting for 14.5 million units of sales. Additionally, according to the Motor & Equipment Manufacturers Association, the foreign direct investment for the automotive industry in the country amounted to USD 143.3 billion in 2019. Thus, the advancing automotive industry in the country is anticipated to be the major driving force for the product over the forecast period.
Product Insights
Engine oil in the product segment dominated the market with a revenue share of 54.85% in 2022. Engine oils are most commonly used for lubrication of internal combustion engines in automobiles. These high-performance lubricants are available in various categories including fully synthetic, part synthetic, and mineral oils. Engine oils exhibit a wide range of exceptional characteristics such as high viscosity, heat resistance, wear protection, and strength. Thus, all these factors are contributing to the growth of engine oils.
Brake fluids are another segment witnessing the fastest growth over the forecast period. Braking fluids are hydraulic fluids that are frequently used in car hydraulic braking and clutch applications. The basic function of brake fluids is to produce an incompressible medium through which the driver's foot pressure on the brake pedal is transmitted in order to lock the friction material against the discs.
Regional Insights
Asia Pacific region dominated the market with a revenue share of 57.24% in 2022. This growth is majorly attributed to the advancing commercial automotive lubricants market in India, Japan, and China. According to OICA, India produced a total of 5,456,857 vehicles including commercial vehicles, three-wheelers, passenger vehicles, and two-wheelers, witnessing a growth of 24% in 2022, compared to 2021. Additionally, the automotive sector in Japan is the third largest in the world comprising 78 factories in 22 prefectures. Thus, all these factors are contributing to the growth of the product market in the region.
Europe is another region witnessing growth over the forecast period. According to the European Commission, the automotive industry employs around 2.6 million individuals who are directly involved in car manufacturing, accounting for approximately 8.5% of overall manufacturing employment in the European Union. Furthermore, the Society of Motor Manufacturing and Traders (SMMT) estimates that the UK will produce around 775,014 cars and 101,600 commercial vehicles in 2022.
Automotive Lubricants Market Segmentations:
By Product
By Regional
Chapter 1. Introduction
1.1.Research Objective
1.2.Scope of the Study
1.3.Definition
Chapter 2. Research Methodology
2.1.Research Approach
2.2.Data Sources
2.3.Assumptions & Limitations
Chapter 3. Executive Summary
3.1.Market Snapshot
Chapter 4. Market Variables and Scope
4.1.Introduction
4.2.Market Classification and Scope
4.3.Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5.COVID 19 Impact on Automotive Lubricants Market
5.1. COVID-19 Landscape: Automotive Lubricants Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4.Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1.Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2.Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1.List of Suppliers
7.1.3.2.List of Buyers
Chapter 8. Global Automotive Lubricants Market, By Product
8.1.Automotive Lubricants Market, by Product Type, 2023-2032
8.1.1. Engine Oil
8.1.1.1.Market Revenue and Forecast (2020-2032)
8.1.2. Gear Oil
8.1.2.1.Market Revenue and Forecast (2020-2032)
8.1.3. Transmission Fluids
8.1.3.1.Market Revenue and Forecast (2020-2032)
8.1.4. Brake Fluids
8.1.4.1.Market Revenue and Forecast (2020-2032)
8.1.5. Coolants
8.1.5.1.Market Revenue and Forecast (2020-2032)
8.1.6. Greases
8.1.6.1.Market Revenue and Forecast (2020-2032)
Chapter 9. Global Automotive Lubricants Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2020-2032)
9.1.2. U.S.
9.1.2.1. Market Revenue and Forecast, by Product (2020-2032)
9.1.3. Rest of North America
9.1.3.1. Market Revenue and Forecast, by Product (2020-2032)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2020-2032)
9.2.2. UK
9.2.2.1. Market Revenue and Forecast, by Product (2020-2032)
9.2.3. Germany
9.2.3.1. Market Revenue and Forecast, by Product (2020-2032)
9.2.4. France
9.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
9.2.5. Rest of Europe
9.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2020-2032)
9.3.2. India
9.3.2.1. Market Revenue and Forecast, by Product (2020-2032)
9.3.3. China
9.3.3.1. Market Revenue and Forecast, by Product (2020-2032)
9.3.4. Japan
9.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
9.3.5. Rest of APAC
9.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2020-2032)
9.4.2. GCC
9.4.2.1. Market Revenue and Forecast, by Product (2020-2032)
9.4.3. North Africa
9.4.3.1. Market Revenue and Forecast, by Product (2020-2032)
9.4.4. South Africa
9.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
9.4.5. Rest of MEA
9.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2020-2032)
9.5.2. Brazil
9.5.2.1. Market Revenue and Forecast, by Product (2020-2032)
9.5.3. Rest of LATAM
9.5.3.1. Market Revenue and Forecast, by Product (2020-2032)
Chapter 10.Company Profiles
10.1. Exxon Mobil
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2. Castrol
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3. Shell
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4. Repsol
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5. LUKOIL
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
10.6. Sasol
10.6.1.Company Overview
10.6.2.Product Offerings
10.6.3.Financial Performance
10.6.4.Recent Initiatives
10.7. Indian Oil Corporation Ltd
10.7.1.Company Overview
10.7.2.Product Offerings
10.7.3.Financial Performance
10.7.4.Recent Initiatives
10.8. HP Lubricants
10.8.1.Company Overview
10.8.2.Product Offerings
10.8.3.Financial Performance
10.8.4.Recent Initiatives
10.9. Philipps 66
10.9.1.Company Overview
10.9.2.Product Offerings
10.9.3.Financial Performance
10.9.4.Recent Initiatives
10.10. Fuchs
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1. About Us
12.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers