Automotive Lubricants Market Size Worth $98.59 Billion By 2032 | CAGR: 3.60%

The global automotive lubricant market size is expected to reach USD 98.59 billion by 2032, according to a new study by Polaris Market Research. The report “Automotive Lubricants Market Share, Size, Trends, Industry Analysis Report, By Product (Engine Oil, Brake Fluids, Gear Oil, Coolants, Transmission and Hydraulic Fluids); By Vehicle Type; By Oil Type; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Automotive lubricants lower friction between moving components. These are groups of greases, oils, and fluids that function to prolong the life of a vehicle by reducing excessive wear. Some automotive lubricants are thicker than others.

The rising focus on fuel efficiency and emissions control needs from countries globally is an essential driver for the automotive lubricant's market growth. Automotive lubricants play a key role in enhancing fuel economy, facilitating pollutants, and reducing engine friction.

Over the past few years, there has been a substantial increase in the incidence of road accidents. This has emphasized the need for enhanced on-road vehicle performance and increased resilience to extreme pressure, force, and weight by the use of automotive lubricants. Thus, the rising number of deaths from road accidents is anticipated to drive the automotive lubricants market.

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The falling automotive industry, united with the temporary closure of automotive manufacturing units and other industrial moves owing to the continuing pandemic, has decreased demand for gear oils, engine oil, and greases, putting downward pressure on the automotive lubricants market.

The rising income of the people associated with the surging automotive industry will further propel the growth rate of the automotive lubricant market. Moreover, the growing production of vehicles will also drive market growth.

Automotive Lubricants Market Report Highlights

• In 2022, the engine oil segment held the largest revenue share in the automotive lubricants market. Engine oils are commonly used to lubricate internal combustion engines in automobiles. These high-grade lubricants come in different classifications, such as fully synthetic, semi-synthetic, and mineral oils.
• The heavy commercial segment accounted for the highest market share. The transport of goods over far distances using heavy commercial vehicles requires the utilization of lubricants that deliver excellent performance, fuel efficiency, and durability. The rising demand for efficient and reliable transportation, the surge in the adoption of hybrid and electric vehicles, and the increasing need for heavy commercial vehicles are all contributing factors driving the increased demand for automotive lubricants.
• In 2022, Asia Pacific dominated the largest market in the automotive lubricants market. The expanding industries, particularly the automotive sector, are poised to fuel the growth of the lubricant market. The increased demand for lubricants in automotive components, particularly for finishing purposes, is expected to drive the market growth.
• The Europe region accounted for the fastest growth in the automotive lubricants market. The demand for synthetic automotive lubricants is quickly booming in Europe owing to the heightened consumer need for high-quality and coherent lubricating oils.
• The global key market players include 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, and Valvoline.

Polaris Market Research has segmented the automotive lubricants market report based on product, vehicle type, oil type, and region:

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

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

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

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

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

• Synthetic
• Semi-Synthetic
• Conventional

Automotive Lubricants, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Automotive Lubricants Market Report Scope