Automotive Lubricants Market Analysis

Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles)

The global automotive lubricants market is segmented and analyzed for demand and supply by vehicle type into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. Out of these, the passenger cars segment is anticipated to garner the highest market share by 2037, owing to its increased sales and production worldwide, along with the rising level of disposable income. As per the International Organization of Motor Vehicle Manufacturers (OICA), in 2021, 49 million new passenger cars were sold and 57 million passenger cars were produced across the globe. Moreover, nowadays, consumers are opting for more efficient and easy transportation, making passenger cars a viable option. Further, the utilization rate of automotive lubricants in passenger cars is forecasted to witness major developments owing to rising per capita disposable income along with its increased preference for a better driving experience.

Oil (Synthetic, Semi-synthetic, Conventional)

The global automotive lubricants market is also segmented and analyzed for demand and supply by oil into synthetic, semi-synthetic, and conventional. Out of these three segments, the conventional segment is attributed to holding the largest segment share by the end of the forecast period. As conventional oil is derived from crude oil, its greater accessibility makes it a favorable option for consumers. Furthermore, its various advantages, such as temperature resistance and stability against harsh physical conditions, make it an excellent option in the production of automotive engine oil for enhanced lubrication and better engine protection. On the other hand, the synthetic segment is also estimated to grow at a steady growth during the forecast period. Synthetic oil is the best alternative to mineral-based conventional oils. Also, synthetic oil carries numerous advantages, including temperature regulation, extended drain intervals, lessened friction, improved in fuel economy, and better engine performance, which makes it a product in high demand for automotive manufacturers.

Our in-depth analysis of the global automotive lubricants market includes the following segments: