Lubricants Market Size

Lubricants Market size was over USD 156.04 billion in 2024 and is anticipated to cross USD 235 billion by 2037, growing at more than 3.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of lubricants is estimated at USD 160.03 billion.

The growing production of automobiles acts as a primary growth driver for the lubricants market by directly influencing the need for high-performance lubricants across various segments of the automobile industry. According to the International Organization of Motor Vehicle Manufacturers (OICA), the estimated world vehicle motor production in 2023 was approximately 93 million units. Modern vehicles are designed with higher performance standards, which necessitate advanced lubricants to meet these requirements. This includes lubricants that can withstand higher temperatures, reduce friction, and improve fuel efficiency. Moreover, global expansion of vehicle fleets drives demand for lubricants for maintenance and performance optimization.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of lubricants is estimated at USD 160.03 billion.

The lubricants market size was over USD 156.04 billion in 2024 and is anticipated to cross USD 235 billion by 2037, growing at more than 3.2% CAGR during the forecast period i.e., between 2025-2037. The growing production of automobiles will drive the market growth.

Asia Pacific industry is poised to account for largest revenue share of 45% by 2037, due to increasing manufacturing activities in the region.

The major players in the market are ExxonMobil Corporation, Royal Dutch Shell Co., BP p.l.c., Total Energies, Chevron Corporation, Fuchs SE, Castrol India Ltd., Amsoil Inc., and others.

Lubricants Market Size