Automotive lubricants market is anticipated to grow at a CAGR of 6.5% during the forecast period (2024-2031). 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 $200.0 billion by FY26.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Automotive Lubricants Market by Oil Type
- Synthetic Lubricants
- Semi-synthetic Lubricants
- Bio-Based Lubricants
- Conventional Lubricants
Global Automotive Lubricants Market by Vehicle
- Passenger Vehicles
- Commercial Vehicles
- Two-Wheeler
Global Automotive Lubricants Market by Product Type
- Engine Oil
- Gear and Brake Oil
- Transmission Fluids
- Greases
- Coolant
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Accu-Lube Manufacturing GmbH.
- Castrol India Ltd.
- Chevron Corp.
- Idemitsu Kosan
- ENEOS Group
- Exxon Mobil Corp.
- Gulf Oil Lubricants Ltd
- Indian Oil Corporation Ltd
- Oscar Lubricants LLC
- Panama Petrochem Ltd.
- W. Davis Oil Co.
- Savita Oil Technologies Ltd
- SINOPEC Group
- TRInternational, Inc.
- Valvoline
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ 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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