Automotive Lubricants Market Growth Forecast: USD 111.79 Billion by 2033 at a CAGR of 5.10%

Automotive Lubricants Market Overview:

Automotive lubricants are fluid substances that reduce surface friction and protect automobile components from wear and tear. Common automobile lubricants include engine, transmission, process, lubrication, and general industrial oils. They are available in mineral, synthetic, semi-synthetic, and bio-based oil formulations that prevent oxidation and corrosion by incorporating lubricants and additives derived from petroleum. These lubricants reduce heat generated between components and improve the performance and functionality of critical components like engines, hinges, bearings, and hydraulic gears.

According to Straits Research, the global automotive lubricants market size was valued at USD 71.44 billion in 2024. It is expected to reach from USD 75.09 billion in 2025 to USD 111.79 billion in 2033, growing at a CAGR of 5.10% during the forecast period (2025-2033).

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Market Dynamics

Rapid Growth in Urbanization and Middle-income Population Drives the Global Market

According to the World Bank, approximately 75% of the global population lives in middle-income countries, and the population of middle-income countries grows by 1% annually. Migration from rural to urban regions has also increased significantly in recent years, the primary cause of urbanization's swift acceleration. As urban areas expand rapidly, cities account for over 80% of the global GDP.

Rapid urbanization has increased the purchasing power of the middle class, which has positively impacted numerous markets, including the automobile industry. According to OICA 2020, approximately 25.3 million cars, including passenger and commercial vehicles, were sold worldwide, with 80% and 20% market shares, respectively. Thus, the increase in automobile sales has fueled the demand for automotive lubricants and positively impacted the global automotive lubricants market.

Increasing Demand for Passenger Vehicles in Emerging Economies Creates Tremendous Opportunities

Since 2005, according to the International Organization of Motor Vehicle Manufacturers or Organization Internationale des Constructeurs d'Automobiles (OICA), the automobile sector in emerging economies has grown rapidly owing to the availability of low-cost raw materials and skilled labor as well as increased foreign direct investment (FDI).

Several automakers have also invested in research and development initiatives due to the emergence of new technologies and regulations. For instance, Tata Motors and Hyundai spent USD 406.79 million and USD 3.93 billion on R&D for passenger vehicles in 2020, respectively. These R&D initiatives will enable these automakers to introduce more marketable passenger vehicles. All of these factors have contributed to the increase in demand for passenger cars in emerging economies, thereby creating opportunities for market expansion.

Trend: Shift Toward High-Performance Engine Oils in the Automotive Lubricants Market

A significant trend in the automotive lubricants market is the increasing demand for high-performance engine oils that enhance fuel efficiency and provide superior engine protection. This shift is driven by consumer preferences for longer oil change intervals and improved vehicle performance. Engine oils formulated with advanced additives and synthetic base oils are gaining popularity due to their ability to reduce friction, minimize wear, and maintain engine cleanliness. This trend is particularly evident in emerging economies where rising disposable incomes and urbanization are leading to higher vehicle ownership and, consequently, greater demand for quality lubricants. As a result, manufacturers are focusing on developing innovative engine oil formulations to meet the evolving needs of consumers and comply with stringent environmental regulations.

Automotive Lubricants Market Segmentation

By Product Type
Engine Oil
Transmission Fluid
Hydraulic Fluid
Others

By Vehicle Type
Commercial Vehicles
Two-Wheelers
Passenger Car
Others

By Oil Type
Mineral Oil
Fully Synthetic Oil
Semi-Synthetic Oil
Biobased Oil

By Regions
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa

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Key Highlights

Based on product type, the global automotive lubricants market is divided into engine oil, transmission fluid, hydraulic fluid, and others. The engine oil segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 5.14% over the forecast period.

Based on vehicle type, the global automotive lubricants market is divided into commercial vehicles, two-wheelers, passenger cars, and others. The commercial vehicles segment dominates the global market and is predicted to exhibit a CAGR of 4.56% over the forecast period.

Based on oil type, the global automotive lubricants market is bifurcated into mineral oil, fully synthetic oil, semi-synthetic oil, and biobased oil. The mineral oil segment is the highest contributor and is anticipated to exhibit a CAGR of 4.34% over the forecast period.

Asia-Pacific is the most significant global automotive lubricants market shareholder and is anticipated to exhibit a CAGR of 5.16% during the forecast period.

Competitive Players

The key players in the global automotive lubricants market are ExxonMobil Corporation, Shell PLC, Total Energies, Chevron Corporation, Castrol Limited, Kuwait Dana Lubes Company, BP PLC, SINOPEC, Phillips 66, Hindustan Petroleum Corporation Limited, GS Caltex Corporation, Idemitsu Kosan Co., Ltd., and others.

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Regional Analysis

Asia-Pacific is the most significant global automotive lubricants market shareholder and is anticipated to exhibit a CAGR of 5.16% during the forecast period. High purchasing power, robust economic growth, government subsidies and grants, and increased automotive and construction activities have all contributed to the region's market expansion. In addition, China and India are the major markets for automotive lubricants in the Asia-Pacific. India is an evolving market that attracts local and international investors due to loosened government regulations, initiatives like "Make in India," and a robust manufacturing center for the textile, transportation, mining, and food industries. India's emergence as a prominent market for automotive lubricants has been bolstered by the availability of low-cost labor and decreased production expenses.

North America is estimated to exhibit a CAGR of 4.74% over the forecast period. The North American automotive lubricant industry has undergone significant change in recent decades. The region is the world's largest producer of hydrocarbons and natural gas and the second-largest producer of automobiles. North America holds a substantial revenue proportion of the global automotive lubricant market due to its high oil and gas production and processing. Countries such as the United States and Canada have contributed to the region's high demand for automotive lubricants.

In addition, the North American automobile industry is anticipated to attract significant investments throughout the forecast period, thereby stimulating the regional market for automotive lubricants. Stringent environmental regulations enforced by regional governments will encourage vehicle manufacturers to invest substantially in R&D initiatives. For instance, Ford Motors (the United States) and General Motors (the United States) have invested over USD 34.5 billion in R&D initiatives.

Recent Developments

In May 2023, Lumax Auto Technologies Limited, a manufacturer of automotive systems and components, introduced a new line of lubricants and coolants for passenger vehicles, two-wheelers, three-wheelers, and commercial automobiles.

In March 2023, Uno Minda announced the introduction of its engine oils for two-wheeled vehicles on the Indian market. The manufacturer has confirmed that these lubricants are compatible with BS-VI vehicles.

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Offshore Lubricants Market Size: https://straitsresearch.com/report/offshore-lubricants-market

Aviation Lubricants Market Size: https://straitsresearch.com/report/aviation-lubricants-market

Bio-Lubricants Market Size: https://straitsresearch.com/report/bio-lubricants-market

Engine Oil Market Size: https://straitsresearch.com/report/engine-oil-market

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