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Global Industrial Lubricants Market Share, Size, Growth, Trends, Forecast: By Product: Engine Oil, Transmission and Hydraulic Fluid, Metalworking Fluid, General Industrial Oil, Gear Oil, Grease, Process Oil, Others; By End User: Power Generation, Heavy Equipment, Food and Beverage, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Industrial Lubricants Market Outlook
The global industrial lubricants market size reached a value of approximately USD 66.2 billion in 2022. The market is expected to grow at a CAGR of 3.60% between 2023 and 2028, reaching a value of USD 81.3 billion by 2028.
Key Trends in the Market
Industrial lubricants are substances that are applied to moving machine parts in order to reduce the wear and tear and friction between them. These lubricants are used for industrial applications as a boundary layer between two machine parts in order to allow smooth movement of a machine.
- Industrial lubricants offer various advantages such as reduced production cost, reduced time, and less requirement of maintenance which makes operations streamlined, more reliable and efficient resulting in increased demand for the industrial lubricants market.
- Increasing demand for vehicles with longer overall lifespan and durable machineries and bearings are bolstering the need for suitable industrial lubricants. This is further supported by the expansion of the automotive sector globally.
- Rising focus of the companies towards creating eco-friendly industrial lubricants using biodegradable raw materials is creating opportunities for the market for industrial lubricants to grow rapidly.
Global Industrial Lubricants Market Analysis
Based on product, the market is divided into engine oil, transmission and hydraulic fluid, metalworking fluid, general industrial oil, gear oil, grease, and process oil, among others. On the basis of end user, the industrial lubricants market segmentation is power generation, heavy equipment, food and beverage, metallurgy and metalworking, and chemical manufacturing, among others. By region, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global industrial lubricants market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Amsoil, Inc
- BP p.l.c.
- Carl Bechem GmbH
- Chevron Corporation
- Repsol S.A.
- Eni S.p.A.
- Exxon Mobil Corporation
- Fuchs Petrolub SE
- Gulf Oil International Ltd
- Bharat Petroleum Corporation Limited
- Others
Global Industrial Lubricants Market Share by Product
By product, transmission and hydraulic fluid are anticipated to observe a rapid growth in the global industrial lubricants market owing to their comparatively lower cost and rising demand from the construction industry. Moreover, the non-compressibility, fire resistant property, durability, anti-wearability, and non-corrosive nature of transmission and hydraulic fluid are further increasing their demand globally, helping in the further growth of the market. The ability of these industrial lubricants to aid in moving heavy loads and providing greater force is also subjected to contribute to the growth of the overall market.
Global Industrial Lubricants Market Share by Region
The Asia Pacific is expected to hold a sizable share of the market for industrial lubricants, supported by the widespread industrial development in the region and numerous manufacturing plants in countries like China. The increased spending by the government on the construction activities in countries such as China, Indonesia, and India are resulting in an increased demand for the industrial lubricants in the region. Meanwhile, North America is anticipated to observe a significant growth in the market during the forecast period owing to the increasing renovation activities and development of the commercial sector.
Competitive Landscape
Amsoil, Inc was founded in 1969 and is headquartered in Wisconsin, United States. It is a commercial company that primarily formulates synthetic lubricants, filters, and fuel additives for its customers.
BP p.l.c. is an oil industry company that was founded in 1909 and is based in London, United Kingdom. The company specialises in the supply chain of oil and natural gas, from exploration to marketing of energy products.
Carl Bechem GmbH was established in 1834 and has its headquarters located in North Rhine-Westphalia, Germany. This chemical manufacturing company produces high quality lubricants and metal working fluids for consumers globally.
Other market players include Chevron Corporation, Repsol S.A., Eni S.p.A., Exxon Mobil Corporation, Fuchs Petrolub SE, Gulf Oil International Ltd, and Bharat Petroleum Corporation Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Industrial Lubricants Market Analysis
8.1 Key Industry Highlights
8.2 Global Industrial Lubricants Historical Market (2018-2022)
8.3 Global Industrial Lubricants Market Forecast (2023-2028)
8.4 Global Industrial Lubricants Market by Product
8.4.1 Engine Oil
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Transmission and Hydraulic Fluid
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Metalworking Fluid
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 General Industrial Oil
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Gear Oil
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Grease
8.4.6.1 Historical Trend (2018-2022)
8.4.6.2 Forecast Trend (2023-2028)
8.4.7 Process Oil
8.4.7.1 Historical Trend (2018-2022)
8.4.7.2 Forecast Trend (2023-2028)
8.4.8 Others
8.5 Global Industrial Lubricants Market by End User
8.5.1 Power Generation
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Heavy Equipment
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Food and Beverage
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Metallurgy and Metalworking
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Chemical Manufacturing
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Industrial Lubricants Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Industrial Lubricants Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Industrial Lubricants Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Industrial Lubricants Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Industrial Lubricants Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Industrial Lubricants Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Amsoil, Inc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 BP p.l.c.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Carl Bechem Gmbh
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Chevron Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Repsol S.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Eni S.p.A.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Exxon Mobil Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Fuchs Petrolub SE
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Gulf Oil International Ltd
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Bharat Petroleum Corporation Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Industrial Lubricants Market: Key Industry Highlights, 2018 and 2028
2. Global Industrial Lubricants Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Industrial Lubricants Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Industrial Lubricants Historical Market: Breakup by End User (USD Million), 2018-2022
5. Global Industrial Lubricants Market Forecast: Breakup by End User (USD Million), 2023-2028
6. Global Industrial Lubricants Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Industrial Lubricants Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Industrial Lubricants Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Industrial Lubricants Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Industrial Lubricants Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Industrial Lubricants Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Industrial Lubricants Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Industrial Lubricants Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Industrial Lubricants Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Industrial Lubricants Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Industrial Lubricants Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Industrial Lubricants Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Industrial Lubricants Market Structure
Key Questions Answered in the Report
The market for industrial lubricants reached a value of approximately USD 66.2 billion in 2022.
The market is expected to grow at a CAGR of 3.60% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 81.3 billion by 2028.
The key drivers in the market are expansion of various industries, cost-savings offered by industrial lubricants, and increasing demand for vehicles with longer lifespan.
The key trends of the market are rising focus towards creating eco-friendly lubricants, growing implementation of industrial automation, and increasing production of industrial lubricants.
The various products of industrial lubricants in the market are engine oil, transmission and hydraulic fluid, metalworking fluid, general industrial oil, gear oil, grease, and process oil, among others.
The different end users of industrial lubricants are power generation, heavy equipment, food and beverage, metallurgy and metalworking, and chemical manufacturing, among others.
The industrial lubricants market key players, according to the report, are Amsoil, Inc, BP p.l.c., Carl Bechem GmbH, Chevron Corporation, Repsol S.A., Eni S.p.A., Exxon Mobil Corporation, Fuchs Petrolub SE, Gulf Oil International Ltd, and Bharat Petroleum Corporation Limited, among others.
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