1. Market Research
  2. > Automotive
  3. > Motor Vehicle Market Trends
Lubricants Market - Growth, Trends, and Forecast (2019 - 2024)

Lubricants Market - Growth, Trends, and Forecast (2019 - 2024)

  • September 2019
  • 401 pages
  • ID: 5821501
  • Format: PDF
  • By Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

Market Overview
The market for lubricants is expected to register a CAGR of 2.18% during the forecast period (2019-2024). The major factor driving the market studied is the increasing demand for, and the usage of ,high-performance lubricants (owing to their better and improved properties, such as reduced flammability, reduced gear wear, and increased service life). However, increasing drain intervals in the automotive and industrial sectors are expected to hinder the growth of the market studied.

- Engine oil dominated the market in 2018, and is expected to grow during the forecast period, as it is widely used to lubricate internal combustion engines.
- Growing prominence for bio-lubricants is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the world, with the largest consumption coming from the countries, such as China and India.

Key Market Trends
Demand from the Growing Wind Energy Sector

- Gear oils find application in wind turbines, for lubrication of the main gearbox and other gear motor components.
- The lubricant requirements in wind turbine gearboxes are more stringent, compared to other industrial gear oils. This is because of the high temperatures, bearing wear, corrosion and oxidation, and load weights involved during the process of power generation.
- There is a rising demand for synthetic gear oils in wind turbines, due to their enhanced properties, over their mineral-based counterparts, owing to the performance additives used during the formulation of synthetic oils, as per the requirement.
- Power generation from wind energy is growing at a rapid pace, globally, with continuously increasing installed capacities of wind turbines every year.
- The decrease in prices in the offshore industry has been one of the major contributors to the growth of the wind power generation market, by generating investments in the offshore industries in the European, North American, and Asia-Pacific regions.
- According to the Global Wind Energy Council, the cumulative wind power capacity is expected to reach over 790 GW by 2020, with healthy YoY growth rates.
- Despite facing competition from solar power generation, the wind power sector is expected to continue its growth during the forecast period. This, in turn, is expected to boost the demand for gear oil and overall lubricants in a significant manner.

Asia-Pacific Region to Dominate the Market

The Asia-Pacific region dominated the global market share in 2018. With growing automotive production and the increasing need for wind power in countries, such as China, India, and Japan, the usage of lubricants is increasing in the region. China is the largest lubricant consumer in the region, and the world, followed by the United States. Apart from automotive and wind power, the chemical manufacturing is another prominent end-user industry in China. Many major companies in the market have their chemical plants in China. These companies have increased their production capacities, which, in turn, may increase the consumption of lubricants. India was the world’s fifth-largest and sixth-largest producer of commercial vehicles and passenger cars, respectively, in 2018, and the automotive sector accounts for the largest share of the lubricant consumption in India. This can be majorly attributed to the diverse aftermarket sales of lubricants in the country. Major OEM manufacturers rely on agreements with different lubricant producers during production ,as well as the aftermarket service. Apart from the existing tie-ups, recent tie-ups made by few manufacturers in the sector are expected to boost the lubricants supplied through this route in India. The aforementioned factors in China and India are contributing to the increasing demand for lubricants consumption in the region, during the forecast period.

Competitive Landscape
The lubricant market is consolidated among the top ten players. The top five players account for about 40% of the market. The major companies include Royal Dutch Shell PLC, Exxon Mobil Corporation, BP PLC, Chevron Corporation, and Total SA.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

($6250)

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Lubricants Market by Base Oil, Product Type, Application, Region - Global Forecast to 2024

Lubricants Market by Base Oil, Product Type, Application, Region - Global Forecast to 2024

  • $ 5650
  • October 2019

Global lubricants market projected to grow at a CAGR of 2.7% during the forecast period.The global lubricants market size is projected to reach USD 188.0 billion by 2024 from USD 164.3 billion in 2019, ...

Carbon Fiber Market to 2027 - Global Analysis and Forecasts by Precursor, Form, End Use Industry and Geography

Carbon Fiber Market to 2027 - Global Analysis and Forecasts by Precursor, Form, End Use Industry and Geography

  • $ 4550
  • September 2019

The global carbon fiber market accounted for US$ 3,052 Mn in 2018 and is expected to grow at a CAGR of 11.1% during the forecast period 2019 - 2027, to account to US$ 7,763.4 Mn by 2027. Carbon fiber is ...

Structural Adhesives Market by Technology, Resin, Application And Region - Global Forecast to 2024

Structural Adhesives Market by Technology, Resin, Application And Region - Global Forecast to 2024

  • $ 5650
  • August 2019

The structural adhesives market is projected to register a CAGR of 6.8%, in terms of value, between 2019 and 2024The structural adhesives market is expected to grow from USD 14.0 billion in 2019 to USD ...

Global Lubricants Industry $ 5450 October 2019


ref:plp2019

Reportlinker.com © Copyright 2019. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on