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Lubricants Market Size, Share Global Analysis Report, 2020–2026
Lubricants Market By Base Oil (Mineral Oil, Synthetic Oil, and Bio-based Oil), By Product Type (Engine Oil, Hydraulic fluid, Metalworking fluid, Gear Oil, Compressor oil, Grease Oil, Turbine Oil, and Others) and By Application (Transportation, and Industrial): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industry Insights
[174+ Pages Report] According to the report published by Facts Factors, the global lubricants market size was worth around USD 164.3 billion in 2019 and is predicted to grow to around USD 198.7 billion by 2026 with a compound annual growth rate (CAGR) of roughly 2.7% between 2020 and 2026. The report analyzes the global lubricants market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the lubricants market.
This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the lubricants industry. The report analyzes and declares the historical and current trends analysis of the lubricants industry and subsequently recommends the projected trends anticipated to be observed in the lubricants market during the upcoming years.
The lubricants market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire lubricants market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Units) and value (USD Million) from FY 2016 – 2026.
Key Insights from Primary Research
- As per our primary respondents, the global lubricants market is set to grow annually at a rate of around 2.7%
- It was established through primary research that the lubricants market was valued at around USD 14.3 Billion in 2019.
- North America region is presently dominating the market among all the regions and is further expected to maintain its position throughout the forecast period.
- On basis of base oil segment, ‘mineral oil’ segment dominated the global lubricants market in 2019.
- Based on product segment, the engine oil segment is leading the global lubricants market owing to its increasing usage in transportation sector.
Key Recommendations from Analysts
- As per our analysts, the global lubricants market is expected to reach around USD 198 Billion by 2026.
- The strategic and competitive advantage provided by the lubricants is anticipated to increase the market demand in upcoming years.
- Our team of analysts has identified, that increase in the number of production of both commercial and passenger vehicles is driving the global lubricants market.
- The team has analyzed that growing industrialization has led the industrial application segment in global lubricants market.
- In future years ahead, Asia Pacific is anticipated to be the fastest growing market for lubricants during the years to come owing to overall development in this region will aid the market to grow rapidly.
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the lubricants industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the lubricants industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the lubricants market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the lubricants industry. The lubricants market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Lubricants sector. Key strategic developments in the lubricants market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the lubricants market are appropriately highlighted in the report.
The growing automotive industry is significantly increasing the demand of lubricants. Rise in production of vehicles in developing economies such as China, India and Indonesia will demand high for lubricants. Moreover, in power generation sector, lubricants are highly required for improving operability. These lubricants are widely used in industries that include chemical, textile, infrastructure, and energy sectors. The continuous research and development for the biological counterparts of the product by reducing the environmental impact is boosting the lubricants market. In addition, growing importance for trade and passenger travel is expected to drive the demand for marine lubricants. Moreover, power generation by using wind turbines is anticipated to raise the sales of lubricants in near future.
The lubricants market research report delivers an acute valuation and taxonomy of the lubricants industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the lubricants industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the lubricants industry is provided for the leading economies of the world.
The lubricants market is segmented based on base oil, product type and application. On the basis of base oil segmentation, the market is classified into mineral oil, synthetic oil, and bio-based oil. In terms of product type segmentation, the market is bifurcated into engine oil, hydraulic fluid, metalworking fluid, gear oil, compressor oil, grease oil, turbine oil, and others. In terms of application segmentation, the market is bifurcated into transportation, and industrial. The transportation segment is sub-segmented into commercial vehicles, passenger vehicles, aviation, railways, and marine. The industrial segment is also further fragmented into construction & mining, metal production, cement production, power generation, automotive, chemical, oil & gas, textile, and food processing amongst others.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 164.3 Billion |
Projected Market Size in 2026 |
USD 198.7 Billion |
CAGR Growth Rate |
2.7% CAGR |
Base Year |
2019 |
Forecast Years |
2019-2026 |
Key Market Players |
Royal Dutch Shell Plc., ExxonMobil Corporation, Chevron Corporation, BP p.l.c., Total S.A., Petrochina Company Limited, Sinopec Limited, LUKOIL, Fuchs Petrolub AG, and Idemitsu Kosan Co. Ltd. among others. |
Key Segment |
By Application, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the essential players operating in the lubricants market, but not restricted to include
- Royal Dutch Shell Plc.
- ExxonMobil Corporation
- Chevron Corporation
- BP p.l.c.
- Total S.A.
- Petrochina Company Limited
- Sinopec Limited
- LUKOIL
- Fuchs Petrolub AG
- Idemitsu Kosan Co. Ltd.
The taxonomy of the lubricants industry by its scope and segmentation is as follows:
By Base Oil Segmentation Analysis
- Mineral Oil
- Synthetic Oil
- Bio-based Oil
By Product Type Segmentation Analysis
- Engine Oil
- Hydraulic fluid
- Metalworking fluid
- Gear Oil
- Compressor oil
- Grease Oil
- Turbine Oil
- Others
- Transformer Oil
- Refrigeration Oil
- Textile Machinery Lubricants
By Product Type Segmentation Analysis
- Transportation
- Commercial vehicles
- Passenger vehicles
- Aviation
- Railways
- Marine
- Industrial
- Construction & Mining
- Metal Production
- Cement Production
- Power Generation
- Automotive (Vehicle Manufacturing)
- Chemical
- Oil & Gas
- Textile
- Food Processing
- Others
By Regional Segmentation Analysis
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table of Content
Industry Major Market Players
- Royal Dutch Shell Plc.
- ExxonMobil Corporation
- Chevron Corporation
- BP p.l.c.
- Total S.A.
- Petrochina Company Limited
- Sinopec Limited
- LUKOIL
- Fuchs Petrolub AG
- Idemitsu Kosan Co. Ltd.
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