Automotive Lubricants Market – By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others), By Application (Engine Oil, Gear & Brake Oil, and Transmission Fluids), By Base Oil (Mineral Oil, Synthetic, Semisynthetic, and Bio-Based Lubricants), By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Lubricant is a substance used to reduce the friction between the two surfaces in mutual contact. In addition to this, it also reduces the heat generated between the contacting surfaces. Automotive lubricants reduce the friction between two machine parts such as piston rings and cylinder walls. Lubricants with different types of oil bases are used in automotive applications which include mineral oil, synthetic oil, semisynthetic oil, and bio-based lubricants. Additives are added in these base oils in order to improve the properties of the blended lubricant mixture. Use of the lubricating oil in the automotive provides reduction of friction, provides protection against corrosion and oxidation, prevent the sludge build-up in the internal surfaces, and increases the performance and life of the engine. These lubricants are used in all types of vehicles including passenger cars, light commercial vehicles, and heavy commercial vehicles. With the growing automotive sector demand of the automotive lubricant is also expected to grow rapidly. The Lubricant Market accounted 81454.39 USD million in 2020, and is expected to reach 126496.176 USD million by 2030, with a CAGR 4.5% during the forecast period.

Market Segmentation:

On the basis of vehicle type, the market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. On the basis of application, the market is segmented into the engine oil, gear & brake oil, and transmission fluids. On the basis of the base oil, the market is segmented into mineral oil, synthetic, semisynthetic, and bio-based lubricants. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

The necessity of lubricating oil in the automotive system to prevent overheating and friction between various parts is one of the major driving factors of the market. In addition to this, it also improves the life of the moving parts of the engine which are very expensive. Hence further increases the use of the lubricant. Growing automotive sector across the world.   Combined with the increasing disposable income among the populace are the factors which further boosts the market within the upcoming years. However, Growing demand for electric vehicles could hinder the growth of the market. Advancement in lubricants will create new opportunities in the future.

Geographic Analysis:

Asia Pacific has dominated the market and expected to continue its supremacy during the upcoming years. Asian automotive market is growing rapidly and developed lifestyle which leads to increased disposable income all these factors support the growth of the market. Europe and North America are also expected to grow with significant growth with the advancement in automotive technology. An increase in disposable income and a growing demand for the luxurious and premium vehicles during the years to come the Middle East and Africa will also grow with the growing popularity of the popularity of high-end premium vehicles within the populace.

Competitive Scenario:

Key players in the automotive lubricant market include Chevron Corporation, Oryx Energies, KMG Chemicals, KenolKobil, Pennzoil-Quaker State, Equilon, Oil Libya, Sinopec, Burmah Castrol, Lukoil, and Idemitsu.

Automotive Lubricants Market Report Scope