Automotive Lubricants Market

Automotive Lubricants Market Size and Growth Rate:

According to our research report, the Automotive Lubricants Market size is poised to reach USD 89,585 million by the end of 2022 from USD 64,716 million in 2017 and this market witnessed a growth rate of 4.8% during the forecast period 2018-2022.

Automotive Lubricants Market - Growth Drivers and Opportunities:

Population growth and rising income levels offer many opportunities for market expansion. In addition, the growth of the global automotive industry and the growing demand for high quality lubricants is expected to increase overall growth. Furthermore, it is expected that the increased consumption of synthetic lubricants, due to their superior characteristic properties, such as low volatile compound emissions and a relatively thicker layer compared to conventional mineral oil lubricants, complements the global market. Automotive lubricants are expected to record the strongest growth in passenger cars, driven by increases in per capita disposable income and growing consumer preference for new low-emission, fuel-efficient models.

Increased sales of electric vehicles are expected to reduce the consumption of automotive lubricants. Battery electric vehicles eliminate the need for engine oil due to the absence of the engine. In addition, electric vehicles have fewer reciprocal parts and it is expected that the increasing adoption of electric vehicles will slow down the market for these lubricants. In addition, rapid urbanization and significant investments in R&D for the production of new synthetic lubricants are expected to provide growth opportunities in the future.

Automotive Lubricants Market - Regional Analysis:

Depending on the region, the automotive lubricants market has been segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The Asia-Pacific region is expected to dominate the global market due to the increased use of vehicles in the region. Latin America is also experiencing rapid economic growth and, as a result, increase in sales of light and heavy-duty vehicles in the region is driving the market in Latin America.

Prominent Companies in the Automotive Lubricants Market analyzed in the report are:

• Royal Dutch Shell plc
• ExxonMobil Corporation, BP p.l.c
• Chevron Corporation
• Total S.A
• Sinopec Corporation, Fuchs Lubricants Co
• LUKOIL, Phillips 66 Company
• Valvoline LLC
• Repsol S.A
• JXTG Nippon Oil & Energy Corporation

This research report includes following segmentation for the Automotive Lubricants Market size and forecast until 2022:

Automotive Lubricants Market – By Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)
• Others (Motorbikes)

Automotive Lubricants Market – By Base Oil:

• Mineral Oil Lubricants
• Synthetic Lubricants
• Semisynthetic Lubricants
• Bio-Based Lubricants

Automotive Lubricants Market – By Application:

• Engine Oil
• Gear & Brake Oil
• Transmission Fluids
• Greases
• Others

Automotive Lubricants Market – By Geography:

North America                                                 

• United States                                
• Canada                                          

Europe                                                                                              

• United Kingdom                                            
• Germany                                       
• France                                           
• Italy                                
• Spain                                             

Asia-Pacific                                                      

• China                                             
• India                                              
• Japan                                             
• South Korea                                  

Latin America                                                                              

• Brazil                                             
• Argentina                                      
• Mexico                                          

Middle-East & Africa                                                       

• Middle-East
• Africa