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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Industrial Lubricants Market: By Base Oil, By Product Type, By End User and Region Forecast 2020-2031
Industrial Lubricants Market: By Base Oil, By Product Type, By End User and Region Forecast 2020-2031
Industrial Lubricants Market size was valued at US$ 64,945 million in 2024 and is expected to reach US$ 86,041 million by 2031, growing at a significant CAGR of 4.1% from 2025-2031. The global market provides a detailed overview of the Market and that can be segmented by Base Oil, Product Type, and End User. By base Oil, the market has been segmented into Mineral Oil, Synthetic Oil, and Bio-based Oil. The mineral oil segment is likely to be the largest and fastest-growing segment in terms of type. Based on product type, market is segmented into Hydraulic fluid, Metalworking fluid, Gear Oil, Compressor Oil, Grease, Turbine Oil, and Others. Among these, the Hydraulic fluid segment is expected to have the fastest-growing market during the forecast period 2023-2029. Based on End User, the market is segmented into Construction, Metal & Mining, Cement Production, Power Generation, Automotive, and Others.
Study Period
2025-2031Base Year
2024CAGR
4.1%Largest Market
North-AmericanFastest Growing Market
Asia-Pacific
The market is driven by the massive industrial growth in APAC and the Middle East & Africa, due to rise in process automation in most of the industries.
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2024 |
US$ 64,945 million |
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Market Size in 2031 |
US$ 86,041 million |
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Market CAGR |
4.1% |
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By Base Oil |
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By Product Type |
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By End User |
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By Region |
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The industrial lubricants market size was valued at US$ 64,945 million in 2024 and is expected to reach US$ 86,041 million by 2031, growing at a significant CAGR of 4.1% from 2025-2031.
The major players in the market are Royal Dutch Shell, ExxonMobil, Chevron Corporation, TotalEnergies, PetroChina Company Limited, Idemitsu Kosan Co. Ltd., Sinopec Limited, Fuchs Petrolub AG, Valvoline, Lukoil, Petronas
North American is the fastest-growing region for market.
| 1.Executive Summary |
| 2.Global Industrial Lubricants Market Introduction |
| 2.1.Global Industrial Lubricants Market - Taxonomy |
| 2.2.Global Industrial Lubricants Market - Definitions |
| 2.2.1. Base Oil |
| 2.2.2. Product Type |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Industrial Lubricants Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Industrial Lubricants Market Analysis, 2020 - 2024 and Forecast 2025 - 2031 |
| 4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Industrial Lubricants Market By Base Oil, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 5.1. Mineral Oil |
| 5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Synthetic Oil |
| 5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Bio-based Oil |
| 5.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Industrial Lubricants Market By Product Type, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 6.1. Hydraulic fluid |
| 6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Metalworking fluid |
| 6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Gear Oil |
| 6.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Compressor Oil |
| 6.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Grease |
| 6.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Turbine Oil |
| 6.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Others |
| 6.7.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7.Global Industrial Lubricants Market By End User, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 7.1. Construction |
| 7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Metal & Mining |
| 7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Cement Production |
| 7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Power Generation |
| 7.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Automotive |
| 7.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Industrial Lubricants Market By Region, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Industrial Lubricants Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 9.1. Base Oil Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Mineral Oil |
| 9.1.2.Synthetic Oil |
| 9.1.3.Bio-based Oil |
| 9.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Hydraulic fluid |
| 9.2.2.Metalworking fluid |
| 9.2.3.Gear Oil |
| 9.2.4.Compressor Oil |
| 9.2.5.Grease |
| 9.2.6.Turbine Oil |
| 9.2.7.Others |
| 9.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Construction |
| 9.3.2.Metal & Mining |
| 9.3.3.Cement Production |
| 9.3.4.Power Generation |
| 9.3.5.Automotive |
| 9.3.6.Others |
| 9.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Industrial Lubricants Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 10.1. Base Oil Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Mineral Oil |
| 10.1.2.Synthetic Oil |
| 10.1.3.Bio-based Oil |
| 10.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Hydraulic fluid |
| 10.2.2.Metalworking fluid |
| 10.2.3.Gear Oil |
| 10.2.4.Compressor Oil |
| 10.2.5.Grease |
| 10.2.6.Turbine Oil |
| 10.2.7.Others |
| 10.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Construction |
| 10.3.2.Metal & Mining |
| 10.3.3.Cement Production |
| 10.3.4.Power Generation |
| 10.3.5.Automotive |
| 10.3.6.Others |
| 10.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Industrial Lubricants Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 11.1. Base Oil Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Mineral Oil |
| 11.1.2.Synthetic Oil |
| 11.1.3.Bio-based Oil |
| 11.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Hydraulic fluid |
| 11.2.2.Metalworking fluid |
| 11.2.3.Gear Oil |
| 11.2.4.Compressor Oil |
| 11.2.5.Grease |
| 11.2.6.Turbine Oil |
| 11.2.7.Others |
| 11.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Construction |
| 11.3.2.Metal & Mining |
| 11.3.3.Cement Production |
| 11.3.4.Power Generation |
| 11.3.5.Automotive |
| 11.3.6.Others |
| 11.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Industrial Lubricants Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 12.1. Base Oil Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Mineral Oil |
| 12.1.2.Synthetic Oil |
| 12.1.3.Bio-based Oil |
| 12.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Hydraulic fluid |
| 12.2.2.Metalworking fluid |
| 12.2.3.Gear Oil |
| 12.2.4.Compressor Oil |
| 12.2.5.Grease |
| 12.2.6.Turbine Oil |
| 12.2.7.Others |
| 12.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Construction |
| 12.3.2.Metal & Mining |
| 12.3.3.Cement Production |
| 12.3.4.Power Generation |
| 12.3.5.Automotive |
| 12.3.6.Others |
| 12.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Industrial Lubricants Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million) |
| 13.1. Base Oil Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Mineral Oil |
| 13.1.2.Synthetic Oil |
| 13.1.3.Bio-based Oil |
| 13.2. Product Type Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Hydraulic fluid |
| 13.2.2.Metalworking fluid |
| 13.2.3.Gear Oil |
| 13.2.4.Compressor Oil |
| 13.2.5.Grease |
| 13.2.6.Turbine Oil |
| 13.2.7.Others |
| 13.3. End User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Construction |
| 13.3.2.Metal & Mining |
| 13.3.3.Cement Production |
| 13.3.4.Power Generation |
| 13.3.5.Automotive |
| 13.3.6.Others |
| 13.4. Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Royal Dutch Shell |
| 14.2.2.ExxonMobil |
| 14.2.3.Chevron Corporation |
| 14.2.4.TotalEnergies |
| 14.2.5.PetroChina Company Limited |
| 14.2.6.Idemitsu Kosan Co. Ltd. |
| 14.2.7.Sinopec Limited |
| 14.2.8.Fuchs Petrolub AG |
| 14.2.9.Valvoline |
| 14.2.10.Lukoil |
| 14.2.11.Petronas |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.