North America Automotive Lubricants Market Report and Forecast 2024-2032

North America Automotive Lubricants Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the North America automotive lubricants market reached a value of USD 22.56 billion in 2023. Aided by the burgeoning automotive sector and the escalating demand for high-performance vehicles, the market is projected to further grow at a CAGR of 4.2% between 2024 and 2032 to reach a value of USD 32.86 billion by 2032.

Automotive lubricants are essential for the optimal performance and longevity of vehicles, offering vital benefits such as engine protection, reduced friction, and enhanced efficiency. These products include engine oils, transmission fluids, brake fluids, and coolants, each playing a crucial role in maintaining vehicle health and performance. The North America automotive lubricants market demand is fuelled by an increasing awareness among consumers about the importance of regular vehicle maintenance and the use of high-quality lubricants.

The expansion of the automotive lubricants market in North America is driven by several factors. The region's robust automotive industry, characterised by a high vehicle ownership rate and a strong preference for performance vehicles, lays a solid foundation for the lubricants market. Additionally, technological advancements in lubricant formulation and the introduction of synthetic and bio-based lubricants are meeting the growing demand for more efficient, environmentally friendly, and high-performance products.

Stringent environmental regulations and the push for reduced emissions have also significantly influenced the North America automotive lubricants market outlook. Manufacturers are increasingly focusing on developing advanced lubricants that not only meet but exceed regulatory requirements, offering improved fuel efficiency and lower emissions. This shift towards sustainability and environmental stewardship is reshaping consumer preferences and driving market growth.

Furthermore, the trend towards electric vehicles (EVs) and hybrid models is introducing new opportunities and challenges in the lubricants market. While EVs may require fewer lubricants compared to traditional internal combustion engine vehicles, the need for specialised lubricants for EV components presents a new growth avenue for manufacturers.

The North America automotive lubricants market demand is expected to be bolstered by the sustained growth anticipated in the coming years. As the automotive industry continues to evolve, with a greater focus on performance, efficiency, and sustainability, the demand for advanced automotive lubricants is expected to rise. The shift towards electric and hybrid vehicles will also necessitate the development of new lubricant formulations, presenting further opportunities for market expansion.

Moreover, the ongoing emphasis on environmental sustainability and the adoption of stringent emissions regulations will continue to drive innovation in the lubricants industry. Manufacturers that can offer high-performance, environmentally friendly lubricant solutions are likely to gain a competitive edge in this dynamic market.

Market Segmentation

The market can be divided based on base oil, vehicle type, application, and country.

Market Breakup by Base Oil

• Mineral Oil Lubricants
• Synthetic Lubricants
• Semi-synthetic Lubricants
• Bio-based Lubricants

Market Breakup by Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

Market Breakup by Application

• Engine Oil
• Gear and Brake Oil
• Transmission Fluids
• Greases
• Others

Market Breakup by Country

• United States of America
• Canada

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America automotive lubricants market. Some of the major players explored in the report by Expert Market Research are as follows:

• Shell PLC
• AMSOIL INC.
• BP plc
• Chevron Corporation
• CITGO Petroleum Corporation
• Exxon Mobil Corporation
• MOTUL S.A.
• Phillips 66 group of companies
• TotalEnergies SE
• Valvoline Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.