Automotive Lubricants Market by Base Oil (Mineral Oil Lubricants, Synthetic Lubricants, Semisynthetic Lubricants, and Bio-Based Lubricants), by Application (Engine Oil, Gear & Brake Oil, Transmission Fluids, Greases, and Others), by Vehicle Type (Pas

"Market Definition:
The Global Automotive Lubricants Market size was valued at USD 77.91 billion in 2019 and is estimated to garner USD 120.06 billion by 2030, at a CAGR of 3.9% during the forecast period from 2020 to 2030.
The automotive lubricants market observed a volumetric sale of 27,050 kilotons in 2019 and is projected to reside to 38,607 kilotons by 2030, expanding at a CAGR of 3.2% during the forecast period.
The use of automotive lubricants reduce friction between two surfaces in mutual contact, thus ensure smooth functioning and high performance of vehicles. These lubricants enhance the engine efficiency and increase the lifespan of vehicles by reducing wear and tear of the automotive components. Automotive lubricants reduce the access heat generated during engine operations by absorbing and transmitting it to the cooler section, and thereby maintain the vehicle’s temperature. Furthermore, the use of the lubricants lowers the fuel consumptions as they increases the efficiency of automotive engines.
Market Dynamics and Trends
Growing demand for commercial utility vehicles and passenger cars is creating the demand for automotive lubricants throughout the forecast period. Also, implementation of stringent environmental emission standards, and rise in inclination towards electric vehicle and risks of environmental hazard linked with the use of mineral oil lubricants are expected to impede the market growth. On the other hand, inclination towards highly-efficient-low-emission production processes and product launches by market players increase the competition, thus creating lucrative opportunities in the global automotive lubricants market.
Market Segmentations and Scope of the Study:
The global automotive lubricants market is segmented based on base oil, vehicle type, application, and geography. On the basis of base oil, the market is segregated into mineral oil lubricants, synthetic lubricants, semisynthetic lubricants, and bio-based lubricants. In terms of application, the automotive lubricants market is fragmented into engine oil, gear & brake oil, transmission fluids, greases, and others. In terms of vehicle type, the market is divided into passenger cars, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and others (motorbikes). Based on geography, the market is fragment into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Geographical Analysis
The market in North America is expected to grow at a considerable pace due to the increasing demand for personal vehicle. The market in Europe is projected to expand at a significant pace owing to the high demand and production of synthetic and semi-synthetic oil in this region. Asia Pacific is expected to dominate the global automotive lubricants market owing to presence of emerging economies, increasing disposable income, rapid urbanization, growing transportation industry, presence of key lubricant manufacturers in this region, and high demand for vehicles.

Competitive Landscape

Key players in the global automotive lubricants market include Exxon Mobil Corporation, Royal Dutch Shell Plc., Total S.A., BP Plc., PetroChina Company Limited, Chevron Corporation, Valvoline, Indian Oil Corporation Ltd., FUCHS Lubricants, and BASF SE.
In December 2019, Chevron Corporation, announced a conditional Share Sale Agreement with Puma Energy Asia Pacific B.V. to acquire all shares and equity interests of Puma Energy (Australia) Holdings Pty Ltd for AU$425 million. This acquirement is expected to empower Chevron with a stable market for production volumes from Puma’s refining joint ventures in Asia and creating a foundation for sustainable earnings growth.
In January 2020, Total and Apache made an oil discovery with the Maka Central no.1 well on Block-58 offshore Suriname, on trend with the prolific discoveries in the adjacent Stabroek block in Guyana.
KEY MARKET SEGMENTS:
• Global Automotive Lubricants Market – By Base Oil
o Mineral Oil Lubricants
o Synthetic Lubricants
o Semisynthetic Lubricants
o Bio-based Lubricants
• Global Automotive Lubricants Market –

By Application

o Engine Oil
o Gear & Brake Oil
o Transmission Fluids
o Greases
o Others
• Global Automotive Lubricants Market –By Vehicle Type
o Passenger Cars
o Light Commercial Vehicles (LCV)
o Heavy Commercial Vehicles (HCV)
o Others (Motorbikes)
• Global Automotive Lubricants Market –By Geography
o North America
 U.S.
 Canada
 Mexico
o Europe
 UK
 Germany
 France
 Russia
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 Australia
 South Korea
 Rest of Asia-Pacific
o RoW
 UAE
 Saudi Arabia
 South Africa
 Brazil
 Remaining Countries
KEY PLAYERS:
• Exxon Mobil Corporation
• Royal Dutch Shell Plc.
• Total S.A.
• BP Plc.
• PetroChina Company Limited
• Chevron Corporation
• Valvoline
• Indian Oil Corporation Ltd.
• FUCHS Lubricants
• BASF SE"