Automotive Lubricants Market Update Report 2024 | Industry Trends, Demand, Leading Companies and Segmentation till 2032
Automotive Lubricants Market Update Report 2024 | Industry Trends, Demand, Leading Companies and Segmentation till 2032
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Automotive Lubricants Market Update Report 2024 | Industry Trends, Demand, Leading Companies and Segmentation till 2032
Automotive lubricant is a specialized fluid that reduces friction and wear between moving parts in an automobile's engine and other mechanical components. The growth of the market is attributed to the rising number of passenger vehicles, the expansion of the EV lubricant market, and the increasing need and awareness of vehicle maintenance and repair. Further, the market trends are moving toward the adoption of bio-based lubricants and a shift toward synthetic lubricants.
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Global vehicle network has steadily grown in recent decades, particularly in emerging markets, owing to rising incomes and standards of living. As more vehicles are on the road, the demand for automotive lubricants for routine maintenance and repair has increased. For instance, as per IBEF India, the passenger car market was valued at $32.7 billion in 2021 and it is expected to reach a value of $54.8 billion by 2027 while registering a CAGR of over 9.0% from 2022-2027. In November 2023, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles was 2.2 million units. In (April-November) 2023-24, the total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles was 15.6 million units. Simultaneously, the automobile component industry turnover stood at $56.5 billion from April 2021 to March 2022. The industry had revenue growth of 23.0% as compared to 2018-19. The auto components industry is expected to grow to $200.0 billion by FY26.
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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Market Segmentation
Global Automotive Lubricants Market by Oil Type
Synthetic Lubricants
Semi-synthetic Lubricants
Bio-Based Lubricants
Conventional Lubricants
Global Automotive Lubricants Market by Vehicle
Passenger Vehicles
Commercial Vehicles
Two-Wheeler
Global Automotive Lubricants Market by Product Type
Engine Oil
Gear and Brake Oil
Transmission Fluids
Greases
Coolant
Regional Analysis
North America
United States
copyright
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East and Africa
Company Profiles
Accu-Lube Manufacturing GmbH.
Castrol India Ltd.
Chevron Corp.
Idemitsu Kosan
ENEOS Group
Exxon Mobil Corp.
Gulf Oil Lubricants Ltd
Indian Oil Corporation Ltd
Oscar Lubricants LLC
Panama Petrochem Ltd.
W. Davis Oil Co.
Savita Oil Technologies Ltd
SINOPEC Group
TRInternational, Inc.
Valvoline
The Report Covers
Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in automotive lubricants market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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