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Vehicle Lubricating Oil Market

Vehicle Lubricating Oil Market

Vehicle Lubricating Oil Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

163

Base Year:

2024

Date

Jan - 2025

Format:

PDF XLS PPT

Report Code:

VMR-VMR-2021-0558

Segments Covered
  • By Product By Product Engine Oil, Gear Oil, Transmission Fluids, Coolant, Brake Fluid & Greases
  • By Vehicle Type By Vehicle Type Passenger Vehicles, Commercial Vehicles, Motorcycles
  • By End Use By End Use Synthetic, Semi-synthetic Conventional
  • By Base Oil By Base Oil Synthetic Lubricants, Semisynthetic Lubricants, Bio-Based Lubricants, Mineral Oil Lubricants
  • By Region By Region North America, Europe, Asia-Pacific, LAMEA
Snapshot
Base YearBase Year: 2024
Forecast YearsForecast Years: 2025 - 2035
Historical YearsHistorical Years: 2019 - 2023
Revenue 2024Revenue 2024: USD 91.79 Billion
Revenue 2035Revenue 2035: USD 155.30 Billion
Revenue CAGRRevenue CAGR (2025 - 2035): 4.9%
Fastest Growing Region Fastest Growing Region (2025 - 2035) xx
Largest Region Largest Region (2024): xx
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Vehicle Lubricating Oil Market Share

The global Vehicle Lubricating Oil Market is valued at USD 91.79 Billion in 2024 and is projected to reach a value of USD 155.30 Billion by 2035 at a CAGR (Compound Annual Growth Rate) of 4.9% between 2025 and 2035.

Definition And Overview

Lubricating oil is used to reduce the friction, heat, and wear between mechanical components that are in contact with each other. Lubricating oil is used in motorized vehicles, where it is known specifically as motor oil and transmission fluid. The two basic categories of lubricating oil are mineral oil and synthetic oil. Mineral lubricating oils are currently the most commonly used type since it needs low cost to extract the oils from crude oil.

The report covers in-depth study on the Global Vehicle Lubricating Oil Market, which comprises market trends such as drivers, restraints, and opportunities, regional trends, segmental analysis, and competitive landscape among others. This study comprises the market estimations and forecast in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. The report includes a separate chapter covering detailed Vehicle Lubricating Oil Market overview that includes Porter’s Five Forces Analysis, PESTLE Analysis, Player Positioning Analysis, SWOT Analysis, and Value Chain Analysis among others.

Vehicle Lubricating Oil Market Size, 2024 To 2035 (USD Billion)

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COVID-19 Impact Analysis

The wise spread COVID-19 outbreak has impacted several industries including Vehicle Lubricating Oil. The governments across the globe compel to employ stringent restriction such as lockdown, international border seals, and implementing strict social distancing measures. This forces serval industries to opt for work from home which in turn disrupted the business processes. However, after mid 2023 the world is witnessing reopening of trading activities, business operations which is expected to stimulate the economic growth during upcoming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

  • Impact Assessment of COVID-19 Pandemic
  • Pre & Post COVID-19 Market Size
  • Qualitative analysis on the short term & long-term impact of COVID-19 on the market
  • The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The report explains various driving factors, restraints/challenges, and opportunities in detail. These assessments aid the industry stakeholders to analyze the Vehicle Lubricating Oil Market on the basis of different parameters, such as economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences.

The rising vehicle sale across the globe is anticipated to augment the growth of the Vehicle Lubricating Oil Market during the forecast period. This is owing to the rapid urbanization, rising disposable income of the consumers, and increasing developments in current technologies. Furthermore, increase in global sales of automobiles has also caused a major inclination towards the adoption of personal vehicles which is in turn expected to support the growth of the Vehicle Lubricating Oil Market in the forecast period.

The increasing demand for engine oils among both consumer and commercial automobiles is anticipated to augment the growth of the Vehicle Lubricating Oil Market in the years to come. This is due to its use for applications like wear reduction, corrosion protection, and smooth operation of engine internals. They operate by creating a thin film between the moving parts for enhancing the transfer of heat and reducing tension during the contact of parts. Additionally it also helps in prevention of oil leaks and the reduction of oil consumption which are factors driving the market.

The implementation of stringent rules and regulations related to the emission of carbon dioxide and environment pollution is expected to restrain the growth of the market. Owing to this, number of manufacturers and consumers are adopting electronic vehicles and will also help in lowering the carbon emissions in the environment. The growing number of electric vehicles will reduce the demand for lubricants required for vehicle.

Report Coverage & Deliverables

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  • Market Trends Heatmap
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Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Product, Vehicle Type, and region. The report will cover market estimations and forecast for each segment by region for the years 2024–2035. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Product, the market is divided into Engine Oil, Gear Oil, Transmission Fluids, Brake Fluids, Coolants, Greases. Engine Oil held the largest share in 2023 and is projected to witness substantial growth during the forecast period.

Based on Vehicle Type, the market is divided into Passenger Vehicles, Commercial Vehicles, Motorcycles. Engine oil attributed to the highest market share and is expected to grow at a significant CAGR from 2024 to 2035.

Competitive Landscape

The Global Vehicle Lubricating Oil Market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Vehicle Lubricating Oil Market are Total, ExxonMobile, Sinopec, CNPC, Castrol, VC, Morris Lubricants, Royal Dutch, Copton, VALVOLINE, LUKOIL, CHEVRON, FUCHS, NIPPON OIL, Lubrita.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.

Global Vehicle Lubricating Oil Market : Regional Analysis

Based on the geography, the Global Vehicle Lubricating Oil Market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2019–2032. The concentration of raw material suppliers as well as market players in one specific region impacts the global market scenario and the report covers exclusive information on the same. Also, the report analyzes the intensity of competition in each region and its influence on the growth of the Global Vehicle Lubricating Oil Market.

Asia-Pacific to Lead the Lubricant Market

Rapid industrialization is propelling the growth of the lubricant market in the Asia-Pacific region. The burgeoning automotive sector within the region is a key driver, with increasing demand for lubricants to ensure optimal vehicle performance. This trend is further solidified by the automotive industry's growing reliance on these essential fluids.

Asia-Pacific is projected to dominate the market, with significant consumption anticipated in developing economies like China, India, Malaysia, Thailand, Indonesia, and Sri Lanka.

China, a global leader in both lubricant consumption and production, plays a pivotal role. Key players in China's lubricant market include industry giants like Shell Plc, Sinopec, ExxonMobil Corporation, and BP Plc. Continued investment and expansion within the sector have fueled its growth.

China's automotive sector, characterized by a rapidly expanding vehicle fleet and technological advancements, is the largest consumer of automotive lubricants. In 2023, the Chinese automotive market witnessed record-breaking sales and production, surpassing 30 million units, reflecting a substantial double-digit growth compared to the previous year, according to the China Association of Automobile Manufacturers (CAAM).

Furthermore, 2023 marked a significant rebound for China's commercial vehicle sector, with sales and production surging by 22.1% and 26.8%, respectively, reaching 4.03 million and 4.04 million units. This surge in automotive sales and production directly translates to increased demand for lubricants.

In 2023, India also witnessed a significant milestone, with passenger vehicle sales surpassing the 4 million mark for the first time. This growth was driven by factors such as rising disposable incomes, a surge in demand for new sport-utility vehicles (SUVs), and attractive loan rates. The domestic market recorded sales exceeding 4.1 million cars, sedans, and utility vehicles, representing an 8.2% increase compared to 2022, as per the Society of Indian Automobile Manufacturers (SIAM). Notably, utility vehicles constituted a significant portion of total sales, accounting for 57.4%.

Japan also experienced a notable increase in new passenger car registrations in 2023, reaching approximately 3.99 million, a significant rise from the 3.45 million recorded in the previous year. Overall, the country registered about 4.78 million new motor vehicles, with passenger cars leading the way.

These factors, combined with supportive government regulations, are driving a significant increase in demand for automotive lubricants across the Asia-Pacific region.

Key Changes:

  • Conciseness and Clarity: The text is more concise and easier to read with improved sentence structure and flow.
  • Focus: The focus is sharpened on the key drivers of market growth, namely rapid industrialization and the burgeoning automotive sector.
  • Emphasis on Key Players: The role of major players like Shell, Sinopec, ExxonMobil, and BP in the Chinese market is highlighted.
  • Data Integration: Key data points and their sources (CAAM, SIAM) are integrated more smoothly within the text.
  • Stronger Conclusion: The conclusion emphasizes the combined factors driving lubricant demand in the region.

This revised version provides a more impactful and informative summary of the lubricant market dynamics in the Asia-Pacific region.

The Global Vehicle Lubricating Oil Market can be categorized as Type, Application, End-Use Industry, and Region.

Parameter Details
Segments Covered

By Product

  • Engine Oil
  • Gear Oil
  • Transmission Fluids
  • Coolant
  • Brake Fluid & Greases

By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles
  • Motorcycles

By End Use

  • Synthetic
  • Semi-synthetic Conventional

By Base Oil

  • Synthetic Lubricants
  • Semisynthetic Lubricants
  • Bio-Based Lubricants
  • Mineral Oil Lubricants

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Total
  • ExxonMobile
  • Sinopec
  • CNPC
  • Castrol
  • VC
  • Morris Lubricants
  • Royal Dutch
  • Copton
  • VALVOLINE
  • LUKOIL
  • CHEVRON
  • FUCHS
  • NIPPON OIL
  • Lubrita.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Vehicle Lubricating Oil valued at USD 91.79 Billion in 2024 and is expected to reach USD 155.30 Billion in 2035 growing at a CAGR of 4.9%.

  • The prominent players in the market are Total, ExxonMobile, Sinopec, CNPC, Castrol, VC, Morris Lubricants, Royal Dutch, Copton, VALVOLINE, LUKOIL, CHEVRON, FUCHS, NIPPON OIL, Lubrita..

  • The market is project to grow at a CAGR of 4.9% between 2025 and 2035.

  • The driving factors of the Vehicle Lubricating Oil include

  • xx was the leading regional segment of the Vehicle Lubricating Oil in 2024.