Automotive Lubricants Market Set to Grow at 3.60% CAGR, Reaching USD 98.59 Billion by 2032

Automotive Lubricants Market Overview:

Global automotive lubricants market size and share is currently valued at USD 72.34 billion in 2023 and is anticipated to generate an estimated revenue of USD 98.59 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 3.60% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032

Key Market Drivers:

  • Vehicle Sales Growth: Rising global demand for passenger and commercial vehicles.
  • Technological Advancements: Development of high-performance, fuel-efficient lubricants.
  • Stringent Emission Standards: Need for low-viscosity and long-drain interval lubricants to improve efficiency.
  • Electric Vehicles (EVs): Emerging demand for specialty lubricants tailored for EV components.

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Key Companies in Automotive Lubricants Market:

  • Amsoil (Wisconsin)
  • Arabol Lubricants
  • Bel-Ray Company LLC.
  • Bharat Petroleum
  • Emulsichem Lubricants Pvt. Ltd.
  • Eni S.P.A.
  • Exxon Mobil Corporation
  • Indian Oil Corporation
  • Liqui Moly
  • Lubrizol
  • Morris Lubricants
  • Peak Lubricants Pty Ltd
  • Penrite Oil
  • Phillips 66 Lubricants
  • Rock Valley Oil and Chemical Co.
  • Total Oil
  • Ultrachem Inc
  • Valvoline

Automotive Lubricants Market Research

The scope includes market segmentation by vehicle type (passenger, commercial, EVs), product type (engine oil, transmission fluids, greases), and regional demand trends. The study explores the influence of technological advancements in fuel-efficient lubricants, emission regulations, and the shift towards electric and hybrid vehicles on lubricant formulations.

Automotive Lubricants Market Segmentation:

Segmentation includes vehicle type (passenger cars, commercial vehicles, electric vehicles), product type (engine oil, transmission fluids, greases, coolants), and end-use (OEMs, service stations). Geographic segmentation covers demand across developed and emerging automotive markets, with a focus on changing consumer preferences and regulatory impacts.

Automotive Lubricants Market, Product Outlook (Revenue – USD Billion, 2019-2032)

  • Engine Oil
  • Brake Fluids
  • Gear Oil
  • Greases
  • Coolants
  • Transmission & Hydraulic Fluids

Automotive Lubricants Market, Vehicle Type Outlook (Revenue – USD Billion, 2019-2032)

  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Passenger Cars
  • Others

Automotive Lubricants Market, Oil Type Outlook (Revenue – USD Billion, 2019-2032)

  • Synthetic
  • Semi-Synthetic
  • Conventional

Automotive Lubricants Industry Developments:

  • July 2021: Valvoline launched All-Terrain, a specialized engine lubricant designed for heavy-duty diesel engines used in off-highway applications such as construction, mining, and agriculture.
  • July 2022: Shell USA, Inc. and Shell Midstream Partners, L.P. officially merged. As part of this agreement, Shell USA acquired all common units representing limited partner interests in SHLX, valued at approximately USD 1.96 billion. The transaction was expected to be completed by the fourth quarter of 2022.
  • October 2022: TotalEnergies partnered with MG Motor to develop a new range of lubricants in Chile. Branded as MG Oil, this automotive oil is specifically formulated for MG Motor vehicles, with production exclusively in Chile, strengthening TotalEnergies’ regional presence.
  • October 2024: Bharat Petroleum Corporation Limited (BPCL) inaugurated the commercial use of BHARAT BCA, an indigenous FCC bottoms cracking additive, at its Mumbai Refinery. This initiative marks a significant step in reducing BPCL’s environmental footprint.
  • October 2024: Esso Australia completed its Kipper Compression Project, aimed at sustaining natural gas supply for the Gippsland Basin Joint Venture. The project supports continued production at the Gippsland Basin and Longford Plants, ensuring a reliable energy supply for Australia.

The Automotive Lubricants market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.