Global Automotive Lubricant Market Assessment, By Propulsion Technology [ICE Vehicles, Electric Vehicles, Natural Gas Engines, Hydrogen-Powered Vehicles], By Vehicle Type [Commercial Vehicles, Passenger Vehicles, Others], By Oil Type [Mineral Oil, Fully Synthetic Oil, Semi-Synthetic Oil, Biobased Oil], By Product Type [Engine Oil, Grease, Penetrating Lubricant, Dry Lubricant], By Region, Opportunities and Forecast, 2017-2031F

Automotive Lubricant Market is projected to witness a CAGR of 3.45% in the forecast period 2024-2031, growing from USD 101.23 billion in 2023 to USD 132.79 billion in 2031.

Automotive Lubricant Market Size & Industry Growth 2031

Global automotive lubricant market&nbsp;is projected to witness a&nbsp;CAGR of 3.45%&nbsp;in the forecast period 2024-2031, growing from&nbsp;USD 101.23 billion&nbsp;in 2023 to&nbsp;USD 132.79 billion&nbsp;in 2031. The market has experienced growth in recent years and is estimated to maintain a rapid speed of expansion during the coming years due to a growing requirement for high-performance and sustainable lubricants, an increase in demand and production of passenger cars, and continuous advancement in vehicle technologies. In January 2024, India witnessed a rise in sales of passenger cars. According to India Brand Equity Foundation, in January 2024, the sales of passenger cars touched 3,93,074, which is the highest ever sales throughout January month posting a growth of 14% as compared to January 2023. A shift toward durable and luxurious vehicles coupled with a high need for fuel-efficient cars is projected to accelerate the global automotive lubricant market demand. In addition, the growing demand for automotive lubricants is also rising as it enhances the performance of vehicles and the durability of engines by decreasing friction.&nbsp;
Different organizations and authorities are aiming to grow vehicle production. Manufacturers in the automotive industry are making effective use of lubricants because they are significantly essential in offering the effective and enhanced performance of an automobile, which further contributes to dominating the largest global automotive lubricants market share. Also, an increase in income for the middle-class population positively impacted automotive sales, which resulted in the introduction of different market growth opportunities for global automotive lubricant market players. Key participants in the global market are planning to launch a new range of lubricant products to address the surging demand for energy-efficient lubricants.&nbsp;
For instance, in May 2023, Lumax Auto Technologies Ltd. announced the launch of a range of lubricants and coolants across India to address the rising requirement for high-performance and durable lubricants coupled with coolants in India.
<h2 style="text-align: justify;">Automatic Lubrication System Integration Pushes the Market Demand</h2>
The automatic lubrication system is particularly designed to enhance the machine's uptime, offer small amounts of lubricant at more frequent intervals, and enhance the overall driving experience, propelling the demand for automotive lubricant across the globe in the coming years. In addition, an automatic system for lubricant helps measure the exact amount of lubricant required. The consumer demand for automatic lubrication systems is significant as they not only save on the cost of oil or grease but also protect the environment. Key companies for automatic lubrication systems are working on improving the performance of these systems and launching new systems to offer the next-level performance.
For instance, in March 2023, Graco Inc. announced the launch of the industry's first automatic lubrication injector technology, the GCI Series Injector platform for single-line parallel automatic lubrication systems to provide durability, plug-and-play simplicity, and next-level performance to vehicles.
<h2 style="text-align: justify;">Launch of Eco-Friendly Lubricants Drives Market Growth</h2>
Traditional lubricants sourced from non-renewable fossil fuels have contributed to resource depletion, pollution, and habitat damage. As the consumer becomes more conscious of the negative impact on the environment, key market players are forced to re-evaluate their manufacturing practices and funding to develop environmentally friendly alternatives, as sustainable lubricants offer a reduction in carbon emission, increasing the global demand for sustainable automotive lubricants. Governments globally are framing strict regulations on industrial operations to limit their negative impact on the environment. Manufacturers are induced to develop sustainable lubricants to avoid potential legal issues and fines and address the surging demand for eco-friendly lubricants.
In January 2023, Goodyear Lubricants announced a new product line of automotive lubricant oil for distribution across Southeast Asia, South Asia, and New Zealand and to lower carbon emissions rates and comply with continuous BS-6 and EURO 6 standards. Also, Goodyear Lubricants produced different lubrication products by using the latest technology and equipment at the Assurance Int Ltd factory in Haryana, India.
<h2 style="text-align: justify;">Government Rules and Regulations Drive the Global Market Growth</h2>
Rules and regulations by government and legal authorities regarding pollution control and carbon emissions drive the global automotive lubricant market demand. Besides this, the growing requirement for high-performance lubricants owing to the growing environmental awareness among consumers globally is fostering market growth in the forecast period. Moreover, companies in the global market are developing eco-friendly and sustainable lubricants to minimize the environmental impact of automotive operations. Governments in emerging countries are introducing different tax benefits and subsidies to utilize and manufacture environmentally friendly lubricants efficiently. Furthermore, the government also releases notifications to decrease the environmental hazards of lubricants.
For instance, in May 2023, the Indian Ministry of Environment, Forest and Climate Change drafted a notification in the Gazette of India to result in regulations for the Extended Producer Responsibility of used oil. The major focus of the draft is to encourage a circular economy for used oil, including re-refining of used lubricants, which could have both economic benefits and environmental benefits.
<h2 style="text-align: justify;">Engine Oil Dominates with the Largest Market Share</h2>
Engine oil registers the largest market share globally as engine oil is fundamental to engine health and enhances engine sealing. Increasing production of passenger vehicles and the rapid development of transportation infrastructure in the automotive industry foster the demand for engine oil across the globe. Also, in automobiles, engine oil is utilized mostly for internal combustion engines as this is a high-quality lubricant and is easily accessible in different categories comprising part synthetic, mineral oils, and fully synthetic. In an automobile, engine oil aids in the ideal functioning of moving parts and keeps the engine cool, boasting a high adoption of engine oil compared to other products. Companies are announcing partnerships to enhance vehicle performance and mark a significant milestone in their journey to revolutionize automotive servicing.
For instance, in April 2024, Service Easy Technology Private Limited (GoMechanic) announced a partnership with Exxon Mobil Corporation for engine oil technology. Exxon Mobil Corporation offers GoMechanic high-performance engine oil to ensure good performance and durability for serviced vehicles.
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<h2 style="text-align: justify;">Asia-Pacific Holds the Largest Market Size</h2>
Asia-Pacific registers the largest market size in the global automotive lubricant market due to an increase in the number of on-road vehicles in emerging countries, rapid expansion in the automotive industry, high demand for electric vehicles, and strict government regulations concerning carbon emissions. The APAC automotive lubricant market is also driven by rapid industrialization, an increase in demand for passenger cars, and a growing requirement for advancing commercial automotive lubricants. Governments in Asia-Pacific countries are formulating strict regulations concerning carbon emissions and the negative impact of lubricants on the environment. Also, companies in the global automotive lubricants market are efficiently introducing new product ranges or announcing a collaboration to expand the product portfolio and footprint.
For instance, in April 2024, Shell plc announced the launch of three new products under its marketing-leading Shell Helix Ultra passenger car motor oil brand to address the upgraded industry specifications and demands of original automotive manufacturers, allowing consumers to release more engine power.
Future Market Scenario (2024-2031F)
1.&nbsp;Significant innovations including smart lubrication systems, and synthetic oil have significantly enhanced reliability, efficiency, and durability of automotive components, driving the global automotive lubricant market demand.
2.&nbsp;In the automotive industry, the shift towards electric vehicles and electric mobility increased the requirement for specialized lubricants personalized to the unique demands of EVs, further driving the demand for automotive lubricants globally.
3.&nbsp;The rising adoption of bio-based lubricants and growing awareness concerning sustainable environments greatly foster the global automotive lubricant market growth.
4.&nbsp;Advancements in lubricant technology and the integration of Internet of Things technology, coupled with predictive maintenance solutions, are considerably revolutionizing the market for automotive lubricants.
Report Scope
&ldquo;Automotive Lubricant Market Assessment, Opportunities, and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global automotive lubricant market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031F
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Projected Growth Rate
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CAGR of 3.45% between 2024 and 2031
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Revenue Forecast in 2031
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USD 132.79 billion
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Segments Covered
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Propulsion Technology, Vehicle Type, Oil Type, Product Type
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Shell plc, Chevron Corporation, ExxonMobil Corporation, The Phillips 66 Company, Fuchs SE, Petr&oacute;leo Brasileiro S.A., BP p.l.c., TotalEnergies SE, ENEOS Group, PJSC Lukoil Oil Company, Savita Oil Technologies Limited
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In this report, the&nbsp;global automotive lubricant market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Propulsion Technology
<ul>
<li>ICE Vehicles</li>
<li>Electric Vehicles</li>
<li>Natural Gas Engines</li>
<li>Hydrogen-Powered Vehicles</li>
</ul>
</li>
<li>By Vehicle Type
<ul>
<li>Commercial Vehicles</li>
<li>Passenger Vehicles</li>
<li>Others</li>
</ul>
</li>
<li>By Oil Type
<ul>
<li>Mineral Oil</li>
<li>Fully Synthetic Oil</li>
<li>Semi-Synthetic Oil</li>
<li>Biobased Oil</li>
</ul>
</li>
<li>By Product Type
<ul>
<li>Engine Oil</li>
<li>Grease</li>
<li>Penetrating Lubricant</li>
<li>Dry Lubricant</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
Key participants in the market are significantly investing in different research and development activities to enhance and advance the performance of lubricants that offer efficient lubrication and stability for vehicle applications. Companies are aiming to expand drain intervals to decrease costs and enhance vehicle reliability. In addition, they are focusing on adopting different market growth strategies, including new product launches, partnerships, collaborations, joint ventures, mergers and acquisitions, and others to expand the product portfolio and footprint.&nbsp;
In April 2024, Savita Oil Technologies Limited announced the launch of Ester 5 lubes for the masses. The Group 5 Esters are high-performing lubricant fluids.
In October 2023, Chevron Corporation and Hindustan Petroleum Corporation Limited cooperatively launched a lubricant under the brand name Caltex to offer lubes for heavy-duty vehicles, industrial machinery, and personal vehicles.
Key Players Operating in the Global Automotive Lubricant Market are:
<ul style="text-align: justify;">
<li>Shell plc</li>
<li>Chevron Corporation</li>
<li>ExxonMobil Corporation</li>
<li>The Phillips 66 Company</li>
<li>Fuchs SE</li>
<li>Petr&oacute;leo Brasileiro S.A.</li>
<li>BP p.l.c.</li>
<li>TotalEnergies SE</li>
<li>ENEOS Group</li>
<li>PJSC Lukoil Oil Company</li>
<li>Savita Oil Technologies Limited</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Automotive Lubricant Market Assessment, Opportunities and Forecast, 2017-2031F

Global automotive lubricant market is expected to experience growth due to increasing demand for electric and hybrid vehicles, rapid trend of customization, significant technological advancements, and a rise in production for high-performance lubricants.

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