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The automotive grease market size is estimated to grow by USD 421.1 million at a CAGR of 3.4% between 2023 and 2028. The market is experiencing significant growth, driven by the expansion of the automotive industry and the increasing focus on biodegradable greases. The automotive industry's continuous growth is fueling the demand for automotive greases, particularly in emerging economies. Additionally, there is a growing trend towards the use of eco-friendly and biodegradable greases due to increasing environmental concerns. However, fluctuations in raw material prices pose a challenge to market growth. Despite this, the market is expected to continue expanding, driven by these trends and the increasing demand for high-performance greases that can withstand extreme temperatures and heavy loads. The market analysis report provides an in-depth analysis of these factors and more, offering valuable insights for industry stakeholders.
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The market is driven by the increasing production of private vehicles, particularly in regions experiencing economic stability and consumer affordability. Synthetic lubricants, including Savsol Ester 5 from Savita Oil Technologies, have gained popularity due to their superior performance and longer lifespan compared to mineral oils. The shift towards environmentally friendly lubricants, such as bio-based and synthetic lubricating oils, is also influencing market growth. The rise of electric vehicle (EV) production and the increasing registration of battery-operated vehicles are key trends in the Automotive Lubricants Market. Automotive components manufacturers, including Volkswagen, Mercedes-Benz, and Porsche, are investing in research and development to produce more efficient and eco-friendly lubricants. Rapid industrialization and the "Aatma Nirbhar Bharat" initiative in India are expected to boost demand for automotive lubricants. The market is further propelled by the increasing demand for fully synthetic oil in automobile manufacturing. Mineral oil continues to be a significant player in the market, but its market share is expected to decrease as the demand for synthetic and environmentally friendly lubricants increases. In conclusion, the Automotive Grease Market is poised for growth due to the increasing production of private vehicles, the shift towards synthetic and environmentally friendly lubricants, and the rise of electric vehicle production. Savita Oil Technologies' Savsol Ester 5 and other synthetic lubricants are expected to play a key role in this market.
Expansion of automotive industry is notably driving market growth. The Automotive Grease Market is witnessing significant growth due to the increasing demand for private vehicles, driven by economic stability and consumer affordability. Synthetic lubricants, including synthetic lubricating oils, are gaining popularity over mineral oils due to their superior performance and longer lifespan. Savsol Lubricants, a leading player in the market, offers Savsol Ester 5, an eco-friendly lubricant from Savita Oil Technologies. With the rise of electric vehicles (EVs), there is a growing need for environmentally friendly lubricants, such as Ester 5 lubricants, for EV batteries and automotive components. Rapid industrialization and the increasing production of automobiles by manufacturers like Volkswagen, Mercedes-Benz, and Porsche, are fueling the demand for various types of lubricants, including engine oil, brake oil, gear oil, and grease.
Moreover, the market for lubricants is not limited to passenger cars and lightweight commercial vehicles but also extends to two-wheelers, three-wheelers, and heavy-weight commercial vehicles. The increasing number of electric vehicle registrations and the push towards sustainable manufacturing and automobile production are expected to boost the demand for bio-based lubricants. The Indian government's "Aatma Nirbhar Bharat" initiative and the focus on battery-operated vehicles further emphasize the importance of this market. The market for lubricants is expected to continue its growth trajectory in the coming years, driven by these factors. Thus, such factors are driving the growth of the market during the forecast period.
Increasing focus on biodegradable greases is the key trend in the market. The Automotive Grease Market is witnessing significant growth due to the increasing demand for private vehicles and the economic stability that comes with it. Consumers are prioritizing affordability, leading to a rise in the usage of both mineral oils and synthetic lubricating oils, such as Savsol Lubricants' Savsol Ester 5, in various applications. Savita Oil Technologies' Ester 5 lubricants are gaining popularity due to their environmentally friendly properties, making them suitable for electric vehicle (EV) batteries and other automotive components. Rapid industrialization and the increasing production of automobiles by leading manufacturers like Volkswagen, Mercedes-Benz, and Porsche, are driving the demand for various types of lubricants, including engine oils, brake oils, gear oils, and grease.
Further, the shift towards sustainable lubricants, such as fully synthetic oil, semi-synthetic oil, and bio-based oil, is also gaining momentum due to the increasing focus on reducing carbon emissions and promoting Aatma Nirbhar Bharat. The rise in electric vehicle registrations and the production of battery-operated vehicles further accentuates this trend. The Lubricants Market is expected to continue its growth trajectory as the automotive industry evolves towards more sustainable and efficient solutions. Thus, such trends will shape the growth of the market during the forecast period.
Fluctuations in raw material prices of automotive grease is the major challenge that affects the growth of the market. The Automotive Grease Market is witnessing significant growth due to the increasing demand for private vehicles, driven by economic stability and consumer affordability. Synthetic lubricants, such as Savsol Ester 5 from Savita Oil Technologies, are gaining popularity over mineral oils due to their superior performance and longer service life. Savsol Ester 5, an ester 5 lubricant, is widely used in engine oils, brake oils, gear oils, and greases for various automotive applications. The shift towards electric vehicles (EVs) and battery-operated vehicles is also influencing the market trend. While mineral oil continues to dominate the engine oil segment, fully synthetic and semi-synthetic oils are preferred for EV batteries.
However, the automotive components industry, including automobile manufacturing giants like Volkswagen, Mercedes-Benz, and Porsche, is adopting sustainable lubricants to reduce their carbon footprint and meet the demands of rapid industrialization and Aatma Nirbhar Bharat. The Lubricants Market is expected to grow further with the increasing production of electric vehicles and the rising demand for bio-based lubricants. Two-wheelers, three-wheelers, passenger cars, lightweight commercial vehicles, and heavy-weight commercial vehicles are major consumers of lubricants. The market for grease is expected to grow significantly due to its wide application in automotive components. The use of environmentally friendly lubricants is becoming a necessity to reduce the carbon footprint of the automotive industry. The demand for bio-based lubricants is increasing as they offer excellent performance and are renewable and sustainable. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Axel Christiernsson International AB: The company offers automotive grease such as ALASSCA 762 BD biodegradable heavy-duty grease.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The aftermarket segment is estimated to witness significant growth during the forecast period. The Automotive Grease Market is witnessing significant growth due to the increasing demand for private vehicles, driven by economic stability and consumer affordability. The market is segmented into synthetic lubricants, mineral oils, and environmentally friendly lubricants. Savsol Lubricants, a leading player in the market, offers Savsol Ester 5 and Savita Oil Technologies' Ester 5 lubricants, which are popular choices for their superior performance and sustainability. Synthetic lubricating oils, including fully synthetic, semi-synthetic, and bio-based oils, are gaining popularity in the automotive industry for their enhanced durability and fuel efficiency.
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The aftermarket segment accounted for USD 1.65 billion in 2018. Two-wheelers, three-wheelers, passenger cars, lightweight commercial vehicles, and heavy-weight commercial vehicles all require various types of greases for their smooth operation. The rise in electric vehicle (EV) production and the increasing demand for automotive components are also driving the market growth. Companies like Volkswagen, Mercedes-Benz, and Porsche are investing in sustainable lubricants to reduce their carbon footprint and meet the growing demand for eco-friendly products. Rapid industrialization and the Aatma Nirbhar Bharat initiative in India are further boosting the market, with a focus on battery-operated vehicles and automobile manufacturing. The market is expected to continue its growth trajectory as the demand for efficient, sustainable, and eco-friendly lubricants increases.
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APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Automotive Grease Market is witnessing significant growth due to the increasing automotive production worldwide. This market plays a crucial role in reducing friction and wear in various motor parts, thereby enhancing their efficiency and longevity. Equipment manufacturers are focusing on the development of advanced greases that offer improved performance and reduced carbon emissions. Brake fluids, transmission fluids, and chassis greases are some of the major product segments in this market. The demand for automotive greases is driven by the rising production of passenger cars and commercial vehicles, along with the increasing focus on reducing maintenance costs and improving fuel efficiency. Manufacturers are investing in research and development activities to produce greases that meet the evolving needs of the industry and comply with stringent environmental regulations.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market is witnessing significant growth, driven by the increasing demand for private vehicles and economic stability. Consumer affordability is a crucial factor fueling the market growth, with the preference shifting towards synthetic lubricants, including synthetic lubricating oils. Major players in the market, such as Savsol Lubricants, Savita Oil Technologies, and Ester 5 lubricants, offer a wide range of products, including Savsol Ester 5 and Savita Bio-based oil. The transition towards electric vehicles (EVs) is also impacting the market, with the increasing production of EVs and the demand for environmentally friendly lubricants. The automotive components sector, including automobile manufacturing giants like Volkswagen, Mercedes-Benz, and Porsche, are adopting sustainable lubricants to meet the growing demand for eco-friendly solutions. The rapid industrialization and Aatma Nirbhar Bharat initiative in India are also contributing to the market growth.
Furthermore, the market encompasses various types of lubricants, including mineral oil, fully synthetic oil, semi-synthetic oil, and bio-based oil. These lubricants find applications in diverse vehicle segments, such as two-wheelers, three-wheelers, passenger cars, lightweight commercial vehicles, and heavy-weight commercial vehicles. The Lubricants Market is expected to witness robust growth, driven by the increasing demand for grease, engine oil, brake oil, gear oil, and other types of lubricants. The market is further propelled by the rise in electric vehicle registrations and the shift towards battery-operated vehicles. In conclusion, the Automotive Grease Market is poised for substantial growth, driven by the increasing demand for private vehicles, economic stability, and consumer affordability. The market is witnessing a shift towards synthetic lubricants and sustainable solutions, with major players investing in research and development to meet the evolving market demands.
Market Scope |
|
Report Coverage |
Details |
Page number |
202 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.4% |
Market growth 2024-2028 |
USD 421.1 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.06 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, India, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB SKF, Auto Pickup Petro Chem Pvt Ltd., Axel Christiernsson International AB, Balmer Lawrie and Co. Ltd., BP Plc, Chevron Corp., China Petrochemical Corp., Dow Inc., Eni SpA, Exxon Mobil Corp., FUCHS PETROLUB SE, Indian Oil Corp. Ltd., Phillips 66, PJSC LUKOIL, San Miguel Corp, Schaeffler AG, Shell plc, Siddharth Grease and Lubes Pvt. Ltd, TotalEnergies SE, and Valvoline Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Additional Value/Volume Data
7 Five Forces Analysis
8 Market Segmentation by Distribution Channel
9 Market Segmentation by Source
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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