Automotive Lubricants Market is poised to grow at a CAGR of 3.1% & reach a value of US$ 108 Billion by 2032. Engine oil held the majority share in 2021.Demand for engine oil automotive lubricants will continue to thrive, with a documented CAGR of 3.1% during the 2015-2021 historical period of assessment, while demand for Automotive Lubricants for LCVs proliferated at a rate of 3.5% during the same period. The APAC will dominate the global market, registering a market value worth US$ 60 Billion by 2032.
Fact.MR has predicted the automotive lubricants market to increase at 3.1% CAGR between 2022 and 2032 in comparison to the 3% CAGR over the historic period. Properties such as high-level thermal stability, low freezing point, and high boiling point are helping to improve the overall performance of the engine.These are factors that are likely to push the automotive lubricants market during the forecast period.
Download Sample Copy of This Report :-https://www.factmr.com/connectus/sample?flag=S&rep_id=434?PJ
Types of Automotive Lubricants: Automotive lubricants encompass a wide range of specialized products tailored for specific applications within vehicles and machinery. Some of the key types of automotive lubricants include:
- Engine Oils: Engine oils are the most prevalent type of automotive lubricant. They are designed to lubricate and protect the internal components of internal combustion engines, such as pistons, cylinders, and bearings. Engine oils come in various formulations, including conventional, synthetic, and semi-synthetic, catering to different engine types and operating conditions.
- Transmission Fluids: Transmission fluids are essential for both automatic and manual transmissions. They ensure the smooth operation of gears, prevent overheating, and reduce friction. These fluids play a critical role in maintaining transmission performance.
- Gear Oils: Gear oils are used in differentials, transfer cases, and other drivetrain components to protect against wear and tear, reduce friction, and ensure efficient power transfer. They are available in various viscosity grades to suit different applications.
- Brake Fluids: Brake fluids are integral to hydraulic braking systems, ensuring efficient and responsive braking performance. They have a high boiling point to withstand the heat generated during braking.
- Coolant/Antifreeze: Coolants, also known as antifreeze, are used to manage engine temperature by dissipating heat and preventing freezing and overheating. They are vital for maintaining the engine’s operating temperature within a safe range.
- Greases: Greases are semi-solid lubricants used in various automotive applications, including wheel bearings, chassis components, and universal joints. They provide long-lasting lubrication and protection against moisture and contaminants.
Key Segments Covered in the Automotive Lubricants Industry Survey
- Automotive Lubricants Market by Lubricants :
- Engine Oil
- Gear Oil
- Brake Oil
- Grease
- Other Automotive Fluid Lubricants
- Automotive Lubricants Market by Base Oil :
- Fully Synthetic Automotive Lubricant Oils
- Semi-Synthetic Automotive Lubricant Oils
- Mineral Oil Automotive Lubricants
- Automotive Lubricants Market by Vehicle :
- LCVs
- HCVs
- Midsize Vehicles
- Compact Vehicles
- Premium Class Vehicles
- Luxury Vehicles
- Other Vehicle Types
- Automotive Lubricants by Region :
- North America Automotive Lubricants Market
- Latin America Automotive Lubricants Market
- Europe Automotive Lubricants Market
- Japan Automotive Lubricants Market
- APEJ Automotive Lubricants Market
- Middle East & Africa Automotive Lubricants Market
Adoption of Electric Vehicles to Hamper the Demand for Automotive Lubricants
Several countries are tilting toward e-mobility solutions. For instance, the Netherlands and Norway declared that from the 1st quarter of 2032, no new car with combustion engines will be approved. Similarly, Volkswagen is completely realigning with its TRANSFORM 2025+ strategy.
As per the company’s policy, its target is to sell about one Billion electric cars per year by the end of 2032 and to dominate the e-mobility market. Electric vehicles are gaining importance and witnessing smooth growth in the past ten years. In China, about 2 billion electric cars were on the road in 2021. Additionally, Europe and the United States are also looking for further investments in electric vehicles such as increasing number of charging stations.
An increase in the number of electric vehicles will decline the usage of combustion engines, which will impact the automotive lubricants market. At the same time, gasoline and diesel-based automotive industries are well-established markets. So even with new electric vehicles, the automotive lubricants market has a lot of potentials and is a big market in terms of revenue.
Competitive Landscape
Prominent Automotive Lubricants providers are reliant on partnerships, collaborations, acquisitions, and new software launch to stay afloat in the global automotive lubricants market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.
- In May 2022, Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij – subsidiaries of Shell Plc., have signed an agreement to sell Shell Neft LLC, which owns Shell’s retail and lubricants businesses in Russia, to PJSC LUKOIL.
- In May 2019, ExxonMobil agreed to purchase Indonesian lubricant blender PT Federal Karyatama, the companies announced this week, as part of a plan to expand in the Asia-Pacific region. The $435 Billion acquisition includes the Federal Oil brand of lubricants and a new blending plant in Cilegon, Indonesia.
Market Players :-
- Royal Dutch Shell PLC
- ExxonMobil
- Chevron
- Total S.A.
- FUCHS
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep..), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Get Customization on this Report for Specific Research Solutions:https://www.factmr.com/connectus/sample?flag=RC&rep_id=434?PJ
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E Mail : [email protected]
