The Latest Automotive Lubricants Industry Statistics Explained
The global automotive lubricants market size was USD 65.8 billion in 2019.
This statistic indicates that the total value of the global automotive lubricants market was USD 65.8 billion in the year 2019. This figure represents the sum of all revenue generated by sales of automotive lubricants worldwide during that year. The size of the market reflects the significant demand for lubricants in the automotive industry, necessary for maintaining the proper functioning of vehicle engines and components. Factors such as the increasing number of vehicles on the road and the need for regular lubricant replacements contribute to the substantial market size seen in 2019. Understanding this statistic is essential for industry stakeholders seeking to analyze market trends, assess competitive dynamics, and make informed decisions in the automotive lubricants sector.
The Asia Pacific is the largest market for automotive lubricants, accounting for more than 40% of the overall value in 2017.
The statistic indicates that the Asia Pacific region dominates the market for automotive lubricants, contributing more than 40% of the total market value in 2017. This suggests that a significant portion of the global demand for automotive lubricants comes from countries in the Asia Pacific region. Various factors such as the growing automotive industry, increasing vehicle ownership, and expanding manufacturing activities in countries like China, India, and Japan likely contribute to this region’s substantial market share. Understanding the significant market presence of the Asia Pacific in the automotive lubricants industry can provide insights for businesses looking to invest or expand their operations in this region.
The passenger cars segment accounted for approximately 40.9% of the overall volume in 2019.
The statistic indicates that the passenger cars segment made up about 40.9% of the total volume of vehicles in 2019. This means that nearly half of all vehicles produced or sold in that year were passenger cars. The percentage suggests a significant portion of the market focus on this particular segment. This statistic may be useful for industry analysis, market trends, or strategic planning for companies involved in the automotive sector. Understanding the market share of passenger cars can help stakeholders make informed decisions about product development, marketing strategies, and overall business direction within the automotive industry.
In terms of volume, the global automotive lubricants market was 6,589.6 kilo tons in 2019.
In 2019, the global automotive lubricants market encompassed a total volume of 6,589.6 kilo tons. This statistic represents the collective amount of automotive lubricants that were produced, sold, and consumed worldwide within that year. The volume figure provides insights into the scale and magnitude of the automotive lubricants industry, highlighting the significant quantities of lubricants required for maintaining and servicing vehicles across various regions and markets. Monitoring changes in this volume over time can offer valuable information on industry trends, demand dynamics, and potential shifts in the global automotive sector.
By the end of 2027, the global automotive lubricants industry is expected to reach over 46,700 kilotons.
This statistic indicates a projected growth in the global automotive lubricants industry by the end of 2027, with an expected volume of over 46,700 kilotons. This suggests an increasing demand for automotive lubricants on a global scale, likely driven by factors such as expanding automotive industries, growing vehicle fleets, and increasing vehicle usage worldwide. The anticipated growth in this industry signals potential opportunities for lubricant manufacturers, suppliers, and other stakeholders in the automotive sector. It also reflects the importance of lubricants in maintaining the efficiency and longevity of vehicles, highlighting the significance of this industry in supporting the functioning and maintenance of transportation infrastructure across the globe.
Compared to 2019, demand for automotive engine oils decreased by 13.6% in 2020 due to the COVID-19 pandemic.
The statistic indicates that there was a significant decline in the demand for automotive engine oils in 2020 compared to the previous year, 2019, as a result of the COVID-19 pandemic. The decrease of 13.6% suggests that there was a substantial reduction in the consumption or sales of engine oils by customers or in the automotive industry as a whole during the pandemic-impacted year. This decline can be attributed to various factors such as a decrease in vehicle usage due to lockdowns and restrictions, reduced maintenance schedules for vehicles, or financial constraints faced by consumers and businesses. Overall, the statistic highlights the direct impact that external events like the pandemic can have on specific industries and their products.
In India, the automotive lubricants market is expected to reach US$ 9.4 billion by 2025.
The statistic ‘In India, the automotive lubricants market is expected to reach US$ 9.4 billion by 2025’ indicates the projected value of the market size for automotive lubricants in India by the year 2025. This figure reflects the anticipated growth and expansion of the automotive lubricants industry within the Indian market over the specified period. It suggests an increase in demand for lubricants due to factors such as the growing automotive industry, increased vehicle ownership, and technological advancements. This statistic serves as a valuable insight for stakeholders in the automotive and lubricants sectors, providing information that can inform strategic decision-making, investment opportunities, and market trends analysis.
The fully synthetic oil segment is projected to grow at a CAGR of 3.2% from 2020 to 2027.
This statistic signifies the expected growth rate of the fully synthetic oil segment in the market over a seven-year period, from 2020 to 2027, as calculated by the compound annual growth rate (CAGR) of 3.2%. This suggests that the fully synthetic oil market is likely to expand steadily at an average annual rate of 3.2% during this timeframe. The projection indicates a positive trend in consumer demand for fully synthetic oils, potentially driven by factors such as increasing awareness of their benefits, stricter environmental regulations, or advancements in technology leading to improved product quality and performance. Overall, this statistic provides valuable insights for businesses and stakeholders in the industry to anticipate and plan for the expected growth trajectory of the fully synthetic oil segment.
Diesel is the most used type of fuel in the lubricants market with a share of approximately 38% in 2019.
This statistic indicates that in 2019, diesel fuel had the highest usage among all fuel types in the lubricants market, accounting for approximately 38% of the market share. This suggests that diesel is the preferred choice for consumers and industries when it comes to lubricants, likely due to its efficiency, availability, and specific applications. The dominance of diesel in the lubricants market showcases its significance in meeting the demands of various sectors that rely on lubricants for machinery and equipment, such as transportation, manufacturing, and construction.
Over 75% of automotive lubricants market revenue in Africa comes from Egypt, South Africa and Algeria.
The statistic states that more than three-quarters of the total revenue generated in the automotive lubricants market in Africa is derived from three countries, namely Egypt, South Africa, and Algeria. This highlights the significant market dominance and economic importance of these particular countries within the region’s automotive lubricants industry. Such a concentration of market revenue suggests that these countries hold a strategic position in shaping the market dynamics, influencing pricing trends, and driving overall growth and development in the industry across the African continent. Understanding the specific market dynamics and competitive landscape within these countries would be crucial for any company looking to enter or expand its presence in the African automotive lubricants market.
By 2025, the global automotive lubricants market is expected to consume over 5.8 million metric tons.
The statistic indicates that the global automotive lubricants market is projected to significantly increase its consumption levels by the year 2025, with a forecasted consumption of over 5.8 million metric tons. This suggests a growing demand for automotive lubricants worldwide, likely driven by factors such as increasing vehicle production, expanding automotive aftermarket services, and rising industrialization in emerging markets. The statistic highlights the scale of the automotive lubricants industry and points towards opportunities for lubricant manufacturers, suppliers, and other stakeholders in the market to capitalize on this anticipated growth in demand over the next few years.
North America, a key market for automotive lubricants, generated a revenue of over USD 7.5 billion in 2019.
The statistic indicates that in 2019, North America was a significant market for automotive lubricants, with a total revenue surpassing USD 7.5 billion. This figure underscores the substantial demand for automotive lubricants in the region, highlighting the importance of the automotive industry in North America. The revenue generated also suggests a high level of consumption of lubricants for vehicles, indicating a large number of vehicles on the road requiring maintenance and servicing. This statistic not only reflects the economic scale of the automotive lubricant market in North America but also serves as a key indicator of the overall activity and health of the automotive sector in the region.
ExxonMobil, a key player in the lubricants market, held a market share of 11% in 2018.
The statistic reveals that ExxonMobil, a prominent company within the lubricants market, held a market share of 11% in 2018. This indicates that out of the total lubricants market in 2018, ExxonMobil’s products accounted for 11% of the sales. A market share of 11% signifies that ExxonMobil is a significant player in the industry, competing with other companies to capture a portion of the market demand for lubricants. This statistic conveys ExxonMobil’s position relative to its competitors and provides insight into its market presence and influence within the lubricants sector during the specified year.
China is the biggest consumer of automotive lubricants, with a market share of over 25% in 2019.
The statistic indicating that China is the largest consumer of automotive lubricants with a market share exceeding 25% in 2019 highlights the significant demand for lubricants within the Chinese automotive industry. This data suggests that China is a key player in the global lubricant market, demonstrating the country’s substantial consumption and reliance on automotive lubricants for its extensive vehicle fleet. The high market share also underscores China’s dominant position in driving the demand for lubricants, reflecting the country’s sizeable automotive sector and the importance of lubricants in ensuring the efficient operation and maintenance of vehicles.
Semi-synthetic lubricant oil is expected to lead market growth, with a projected CAGR of 4.4% from 2020 to 2027.
The statistic indicates that the market for semi-synthetic lubricant oil is anticipated to experience significant growth, outpacing other types of lubricants, with a projected Compound Annual Growth Rate (CAGR) of 4.4% from 2020 to 2027. This suggests that the demand for semi-synthetic lubricant oil is expected to increase steadily over the forecasted period, likely due to factors such as its improved performance characteristics compared to conventional mineral oils and growing awareness of environmental concerns. The projected CAGR of 4.4% reflects the expected average annual growth rate of the market segment, signifying a positive outlook for the market share and revenue potential of semi-synthetic lubricant oil in the coming years.
The base oils segment of the market accounted for over 37.6% of revenue in 2020.
In 2020, the base oils segment represented a significant portion of the market’s total revenue, comprising more than 37.6%. This statistic indicates that base oils, which are raw materials used in various industries such as lubricants, cosmetics, and pharmaceuticals, played a crucial role in driving revenue within the market. The substantial contribution of the base oils segment suggests that it is a key player in the market dynamics and overall profitability. Understanding the proportion of revenue generated by this segment is essential for market analysis, strategic decision-making, and identifying areas for growth and investment opportunities within the industry.
Among synthetic lubricants, ester-based lubricants are expected to grow at the fastest CAGR, 5.4% from 2021 to 2028.
This statistic indicates that within the category of synthetic lubricants, ester-based lubricants are projected to experience the highest Compound Annual Growth Rate (CAGR) of 5.4% from 2021 to 2028. This growth rate suggests a significant increase in demand for ester-based lubricants over the forecast period, likely driven by factors such as their superior performance characteristics, environmental sustainability, and expanding applications in various industries. The strong CAGR supports the notion that ester-based lubricants are increasingly becoming a preferred choice among consumers and businesses seeking high-quality lubrication solutions, positioning them as a key growth driver in the synthetic lubricants market.
As of 2017, the global revenue forecast for automotive lubricants by 2022 is projected to be $74.6 billion.
The statistic indicates that in 2017, the estimated revenue generated globally from the sales of automotive lubricants was $74.6 billion, with a projection for this revenue figure to increase to $74.6 billion by the year 2022. This forecast suggests a growing demand for automotive lubricants over the coming years, potentially driven by factors such as increasing vehicle ownership, expanding automotive industry, and rising focus on vehicle maintenance and efficiency. The projected revenue figure serves as a key indicator for market trends and potential opportunities in the automotive lubricants industry, helping businesses and stakeholders make informed decisions and strategies for the future.
The market in Europe for automotive lubricants was worth $38.52 billion in 2020.
The statistic states that the market size for automotive lubricants in Europe in 2020 was valued at $38.52 billion, indicating the total monetary value of lubricants sold in the region during that year. This metric gives insight into the significance of the automotive lubricant industry within the European market, highlighting the substantial amount of revenue generated from the sale of these products. It implies a high level of demand for automotive lubricants in Europe, emphasizing the importance of this sector within the broader automotive industry. Tracking the market size over time can also help identify trends and potential growth opportunities within the European automotive lubricants market.
Conclusion
Through analysis of the latest statistics in the automotive lubricants industry, it is evident that the market is experiencing steady growth and innovation. The increasing vehicle sales, technological advancements, and environmental regulations are driving the demand for high-quality lubricants. It is crucial for industry players to stay informed about these trends and developments to remain competitive in this dynamic market.
References
0. – https://www.www.marketsandmarkets.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.alliedmarketresearch.com
3. – https://www.www.futuremarketinsights.com
4. – https://www.www.marketresearchfuture.com
5. – https://www.www.fuelsandlubes.com
6. – https://www.www.statista.com
7. – https://www.www.techsciresearch.com
8. – https://www.www.mckinseyenergyinsights.com
9. – https://www.www.globenewswire.com
10. – https://www.www.marketresearchstore.com
11. – https://www.www.marketdataforecast.com
12. – https://www.www.zionmarketresearch.com
13. – https://www.www.transparencymarketresearch.com
14. – https://www.www.persistencemarketresearch.com
