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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Lubricants Market: By Product Type, By Base Oil, By Application and Geography
Lubricants Market: By Product Type, By Base Oil, By Application and Geography
Lubricants Market size was valued at US$ 130.5 billion in 2023 and is expected to reach US$ 168.2 billion by 2030, at a CAGR of 4.1% during the forecast period 2024-2030. Increased demand for engines with high performance, demand for renewable energy and cost-effective manufacturing techniques act as drivers. Hybrid vehicle demand and rising parity in battery prices, raw material stringent auto regulations and norms rising demand for bio-based products act as restrain to the global market.
Robust industrialization provides significant opportunity to global market. The report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
Study Period
2024-2030Base Year
2023CAGR
4.1%Largest Market
Asia-PacificFastest Growing Market
North America
It is noticed that the global lubricants market has a significant market growth rate on perspective of increasing application in automotive industry. Automotive industry, all those companies and activities involved in the manufacture of motor vehicles, including most components, such as engines and bodies, but excluding tires, batteries, and fuel. The industrys principal products are passenger automobiles and light trucks, including pickups, vans, and sport utility vehicles. Commercial vehicles, though important to the industry, are secondary.
North America contributed major revenue followed by Europe and Asia Pacific. In 2021, North America region accounted huge growth rate and is anticipated to grow with a forecast year due to the presence of key market players. Coupled with the rising number of cars in the countries with different industrial sectors help Europe to dominate the market. Rising awareness and growth in the industrial sector help in the growth of Asia Pacific boosting the global lubricants market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 130.5 billion |
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Market Size in 2030 |
US$ 168.2 billion |
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Market CAGR |
4.1% |
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By Product Type |
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By Application |
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By Base Oil |
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By Region |
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Download Free Sample Report
The global lubricants market size was valued at US$ 130.5 billion in 2023 and is projected to grow at a CAGR of 4.1% from 2024-2030.
Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), BP PLC (U.K.), Chevron Corporation (U.S.), Total S.A. (France), Petrochina Company Limited (China), Idemitsu Kosan Co. Ltd. (Japan), Sinopec Limited (China), Fuchs Petrolub AG (Germany)
North America is the fastest-growing region for lubricants market
| 1. Executive Summary |
| 2. Global Lubricants Market Introduction |
| 2.1. Global Lubricants Market Taxonomy |
| 2.2. Global Lubricants Market Definitions |
| 2.2.1. Product Type |
| 2.2.2. Base Oil |
| 2.2.3. Application |
| 3. Global Lubricants Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Lubricants Market Dynamic Factors - Impact Analysis |
| 3.6. Global Lubricants Market Competition Landscape |
| 4. Global Lubricants Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Lubricants Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Engine Oil |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Hydraulic Fluid |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Metalworking Fluid |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Lubricants Market Forecast, By Base Oil, 2019 - 2023 and Forecast, 2020 2026 (Revenue, USD Mn) |
| 6.1. Mineral Oil |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Synthetic Oil |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Bio-based Oil |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Lubricants Market Forecast, By Application, 2019 - 2023 and Forecast, 2020 2026 (Revenue, USD Mn) |
| 7.1. Transportation |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Industrial |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Others |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8. Global Lubricants Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Region, 2024 - 2030 |
| 9. North America Lubricants Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Engine Oil |
| 9.1.2. Hydraulic Fluid |
| 9.1.3. Metalworking Fluid |
| 9.1.4. Others |
| 9.2. Base Oil Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Mineral Oil |
| 9.2.2. Synthetic Oil |
| 9.2.3. Bio-based Oil |
| 9.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Transportation |
| 9.3.2. Industrial |
| 9.3.3. Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2024 - 2030 |
| 9.6. North America Lubricants Market Dynamics Trends |
| 10. Europe Lubricants Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Engine Oil |
| 10.1.2. Hydraulic Fluid |
| 10.1.3. Metalworking Fluid |
| 10.1.4. Others |
| 10.2. Base Oil Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Mineral Oil |
| 10.2.2. Synthetic Oil |
| 10.2.3. Bio-based Oil |
| 10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Transportation |
| 10.3.2. Industrial |
| 10.3.3. Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Poland |
| 10.4.8. Rest of Europe |
| 10.5. Europe Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2024 - 2030 |
| 10.6. Europe Lubricants Market Dynamics Trends |
| 11. Asia-Pacific Lubricants Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Engine Oil |
| 11.1.2. Hydraulic Fluid |
| 11.1.3. Metalworking Fluid |
| 11.1.4. Others |
| 11.2. Base Oil Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Mineral Oil |
| 11.2.2. Synthetic Oil |
| 11.2.3. Bio-based Oil |
| 11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Transportation |
| 11.3.2. Industrial |
| 11.3.3. Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Japan |
| 11.4.2. China |
| 11.4.3. India |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2024 - 2030 |
| 11.6. Asia-Pacific Lubricants Market Dynamics Trends |
| 12. Latin America Lubricants Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Engine Oil |
| 12.1.2. Hydraulic Fluid |
| 12.1.3. Metalworking Fluid |
| 12.1.4. Others |
| 12.2. Base Oil Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Mineral Oil |
| 12.2.2. Synthetic Oil |
| 12.2.3. Bio-based Oil |
| 12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Transportation |
| 12.3.2. Industrial |
| 12.3.3. Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2024 - 2030 |
| 12.6. Latin America Lubricants Market Dynamics Trends |
| 13. Middle East and Africa Lubricants Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Engine Oil |
| 13.1.2. Hydraulic Fluid |
| 13.1.3. Metalworking Fluid |
| 13.1.4. Others |
| 13.2. Base Oil Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. Mineral Oil |
| 13.2.2. Synthetic Oil |
| 13.2.3. Bio-based Oil |
| 13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Transportation |
| 13.3.2. Industrial |
| 13.3.3. Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Lubricants Market - Opportunity Analysis Index, By Product Type, Base Oil, Application and Country, 2024 - 2030 |
| 13.6. MEA Lubricants Market Dynamics Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Product Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. Royal Dutch Shell (Netherlands) |
| 14.2.2. ExxonMobil (U.S.) |
| 14.2.3. BP PLC (U.K.) |
| 14.2.4. Chevron Corporation (U.S.) |
| 14.2.5. Total S.A. (France) |
| 14.2.6. Petrochina Company Limited (China) |
| 14.2.7. Idemitsu Kosan Co. Ltd. (Japan) |
| 14.2.8. Sinopec Limited (China) |
| 14.2.9. Fuchs Petrolub AG (Germany) |
| 14.2.10. Valvoline (U.S.) |
| 14.2.11. Lukoil (Russia) |
| 14.2.12. Petronas (Malaysia) |
| 14.2.13. Gazprom Neft (Russia) |
| 14.2.14. Pertamina (Indonesia) |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.