The global automotive lubricants market size is expected to reach USD 97.59 Billion in 2030 and register a revenue CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Rising demand for synthetic oil and an increasing number of passenger cars in developing countries are driving automotive lubricants market revenue growth.
Automotive lubricant is a fluidic material that primarily reduces friction between surfaces that come into contact. Lubricant efficiently reduces energy loss caused by friction. Moreover, it also aids in cleaning, cooling, and protecting metal parts from corrosion and rust, as well as many other challenges faced by a machine during operation. Engine oil, for example, is a type of lubricant designed specifically for use in engines. High-quality engine oil is essential for an engine's proper functioning; it improves engine efficiency by preventing damage and extending engine life.
Automotive lubricants play an important role in the safe and efficient operation of a vehicle. There are numerous automotive lubricants on the market, each with a different source or base oil, with mineral-based lubricants accounting for the majority share. Synthetic lubricants, on the other hand, are rapidly gaining popularity and revolutionizing the market. Consumers have benefited from advancements in lubricant technology in a variety of ways, including longer oil drain and service intervals, improved fuel efficiency and a longer protection period.
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Top 10 Companies Operating in the Global Automotive Lubricants Market:
Castrol Limited, Gulf Oil International, Panama Petrochem Ltd., GP Petroleums Ltd., Shell International B.V., Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Valvoline Inc. and Petróleo Brasileiro S.A.
Automotive Lubricants Market Segmentation
Base Oil Outlook (Revenue, USD Billion; 2018–2030)
- Mineral Oil
- Bio-Based Lubricants
Vehicle Type Outlook (Revenue, USD Billion; 2018–2030)
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Application Outlook (Revenue, USD Billion; 2018–2030)
- Engine Oil
- Gear Oil
- Brake Fluids
- Transmission Fluids
Table of Contents:
1.1 Research Scope
1.2 Key Automotive Lubricants market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Automotive Lubricants market size
2.2 Latest regional market trends
2.3 Emerging growth trends
3.1 Global Automotive Lubricants market key players
3.2 Global Automotive Lubricants size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Automotive Lubricants market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
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