The two-wheeler lubricant market is estimated to be valued at USD 17,697.3 million in 2023 and is anticipated to rise to USD 24,723.7 million in 2033. The sales of two-wheeler lubricants are projected to increase at a 3.4% CAGR from 2023 to 2033.
Increasing Engine Oil Use
The rising demand for engine oils to lessen the wear and tear on a two-wheeler's moving parts is predicted to boost sales of the market. Engine oils are commonly used to lubricate internal combustion engines in motorcycles. They are typically made up of base oils and additives. Petroleum, synthetic chemicals, or both are used to create the base stock. The base stock oversees lubricating the engine's moving parts and dissipating excess heat.
Oxidation inhibitor additives, dispersion additives, anti-foaming additives, corrosion inhibitor additives, and anti-freeze additives are some of the additives found in engine oils. These regulate the viscosity and lubricity of the oil and protect engine components from wear and strain.
Resistance to corrosion and wear and tear are two of the most important functions of engine oils in two-wheelers. Its purpose is to extend engine life and improve performance by:
The quick adoption of two-wheeler lubricants has weighed on the same scale as the advent of two-wheelers as a key means of transportation in emerging countries. If consumer interest grows in a carbon-free future via zero-emission transportation, the growing importance of electric vehicles may pose a possible threat to market development.
Lubricants are fluids, oils, or greases that minimize friction between two surfaces that are close to each other. Because they minimize friction between moving elements, these fluids are essential in automotive and industrial applications. Over time, the increased competition among renowned industry players has benefited market expansion. To stay ahead of the competition, the leading manufacturers are significantly investing in the worldwide market. As a result of all of the aforementioned factors, increased use of engine oils is likely to fuel market expansion throughout the forecast period.
| Report Attribute | Details |
|---|---|
| Two-Wheeler Lubricants Market Value (2023) | USD 17,697.3 million |
| Two-Wheeler Lubricants Market Anticipated Value (2033) | USD 24,723.7 million |
| Two-Wheeler Lubricants Market Growth Rate (2023 to 2033) | 3.4% CAGR |
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The Two-Wheeler Lubricants Market accounted for USD 13716.80314 million in 2017 to USD 16,944.2 million in 2022, expanding at a 1.7% CAGR from 2017 to 2022.
People are mainly concerned about growing traffic in developed areas, and hence two-wheelers become an excellent choice if compared with four-wheelers. Strong two-wheeler sales, population growth, increased vehicle ownership, and increased mobility are the primary factors fueling demand for two-wheelers such as motorcycles and scooters.
Compared to other vehicles, two-wheelers are less expensive. As a result, increased demand contributes to the growth of the market during the review period.
Growing CO2 and greenhouse gas emissions have led to a surge in the adoption of electric vehicles, reducing the need for engine oils even further. The market competitors have had a difficult time preserving the durability of the vehicle component while yet adhering to ever-tight VOC emission restrictions.
Manufacturers are making significant investments in the creation of additive technology that maintains high friction, hardware protection, and durability in addition to delivering the necessary fuel economy.
| Historical CAGR (2017 to 2022) | 4.3% |
|---|---|
| Forecast CAGR (2023 to 2033) | 3.4% |
As per the FMI analysts, a valuation of USD 24,723.7 million by 2033 end is estimated for the market.
| Year | Market Valuation |
|---|---|
| 2017 | USD 13716.80314 million |
| 2022 | USD 16,944.2 million |
| 2023 | USD 17,697.3 million |
| 2033 | USD 24,723.7 million |
The lubricants for two-wheelers may be made synthetically or from minerals. Along with engine oil, suspension oil, brake oil, and chain oil, lubricants are frequently used. Cans, pouches, bottles, buckets, and other containers are used to package and supply these lubricants.
The lubricants provide excellent fuel economy, minimal oil usage, reduced maintenance costs, and increased oil and engine life. The product also ensures the high durability of the engine while offering exceptional protection to the motorcycle's engine, gears, and clutch. The need for two-wheeler lubricants in motorcycles and scooters is increased by these favorable circumstances.
The knowledge of alternatives for products connected to mineral oil has led to growth in the global market for lubricants for large-scale businesses. During the projected period, demand for synthetic oils is anticipated to increase due to the expanding automotive industry and industrial expansion. Because synthetic kinds outperform natural mineral oils, their appeal has increased.
They are gradually taking over natural mineral oils as the favored option in a variety of sectors where high levels of consistency are required. They have decreased volatility, a great viscosity index, a lower pour point, and increased oxidative/thermal stability as a result of their inherent physical and chemical characteristics.
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Two-wheeler use is being boosted by rising rural disposable income and population growth in nations like China, India, and South Asia & the Pacific. In India, the business sold more than 100 million two-wheelers in 2021, according to Hero Moto Corp.'s annual report.
Leading two-wheeler manufacturers like Honda and TVS have also sold almost 2.1 million and 1.4 million units respectively in Asia. The fleet of two-wheelers is growing, and nations with dense populations are seeing a sharp increase in demand for two-wheeler lubricants. The growing population of these areas has led to high traffic, particularly in their key cities.
To keep up with fast-paced lifestyles, customers are choosing motorbikes and scooters as their preferred form of transportation. Rural areas still lack adequate transportation infrastructure. Customers in less developed regions favor two-wheelers due to taxes and the expensive cost of four-wheelers.
The industrial sector is attempting to reduce energy consumption and operating costs considering the rising cost of energy to power industrial activities. Without lubrication, engine components are likely to experience friction, which increases fuel consumption and contributes to emissions and pollution. By minimizing friction between parts and improving machine efficiency, a high-quality product aids in the same goal.
A little decrease in energy usage can generate considerable financial benefits due to rising energy costs. Depending on the kind of machine being used, different energy-saving opportunities exist. By dramatically enhancing lubrication, it can increase a company's overall earnings. Global lubricants market expansion is anticipated to be driven by significant industrialization and severe environmental regulations on manufacturing companies.
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The consumption and expansion of the worldwide lubricating goods market are both strongly influenced by the automotive industry. Traditional cars use a variety of oils to preserve the quality of their engines throughout time. The demand for crude oil is rising, but so are environmental worries.
Consumer interest in electric vehicles is increasing in both developed and developing nations. The advantages of electric vehicles also become increasingly clear as technology develops. The adoption of electric vehicles is anticipated to slow the expansion of the automotive sector.
The International Energy Agency estimates that China sold 3 million electric vehicles in 2020, an increase of 40% from 2019. It is a significantly growing market for electric vehicles in the world as well as a key center to produce electronic and electrical components.
Leading producers of electric vehicles, including Tesla, are making investments in China market to tap into the market's potential. Along with Western Europe, industrialized nations like the United States and Japan are seeing a rise in the use of electric vehicles.
| Countries | CAGR Value (2023 to 2033) |
|---|---|
| The United States | 1.4% |
| Germany | 0.6% |
| Japan | 1.5% |
| Australia | 0.4% |
| China | 4.1% |
| India | 4.5% |
| The United Kingdom | 2.1% |
By 2033, India is expected to be the global market leader, with a CAGR of 4.5%. One of the world's leading two-wheeler manufacturing enterprises is based in India. The demand for two-wheelers is skyrocketing in developing countries. This region is prominently growing region in terms of two-wheeler lubricant consumption.
Rising urbanization, rising earnings, a growing population, and progressive competition among two-wheeler producers all contribute to reducing vehicle prices that diverse regional groups may afford.
With rising crude oil prices, India's adoption of two-wheelers is at an all-time high due to the country's increasing traffic. Two-wheeler sales fell precipitously, although tourist destinations such as Goa offered rental scooters.
The increased use of social media and the growing popularity of rental scooters increased the demand for two-wheeler lubricants. As a result, leading players in the worldwide market are eyeing the Indian market to boost their profits.
China is likely to dominate the market over the projection period, despite Asia Pacific being the second-leading market for two-wheeler lubricants. East Asia is predicted to generate more than 4.1% of worldwide sales throughout the forecast period, according to Future Market Insights.
The rise is attributed to the rapid growth of the automotive sector, industrial development, and the presence of the automotive industry in countries such as Japan, India, and China.
Motor oils, greases, and automotive hydraulic fluids are the most commonly used lubricants in the Asia market. Asia Pacific has begun to mimic the regulatory regimes of the United States and Europe. Countries such as Japan and South Korea are prioritizing eco-labeled lubricants as a result.
China is the world's leading producer and importer of two-wheelers. Rising crude oil prices and growing environmental concerns have boosted demand for bio-based lubricants. As a result, demand for two-wheeler lubricants is predicted to rise steadily over the forecast period.
The automobile industry dominated the market in the United States area, which is anticipated to expand at a CAGR of 1.4% by 2033.
The United States has a big vehicle industry, which has contributed to the market's enormous rise. The industrial sector has shown consistent growth and is expected to continue in the next years. Because of rigorous environmental protection legislation, North America consumes a lot of environment-friendly products. ExxonMobil Corporation, Royal Dutch Shell Corporation, and Chevron Corporation are all from the United States.
The market has been marked by fierce competition, with all key industry participants focused on expanding their client base in to acquire a competitive advantage over other companies in the ecosystem.
The United States is expected to be driven by high-volume sales of premium products. Automotive and industrial applications account for more than 90% of lubricant sales in the United States market.
Industrial engine oil is likely to be a significant contribution to the growth of the overall lubricant market in the United States. This lubricant is used to reduce operating costs by dramatically reducing wear and tear on heavily moving mechanical components. It also helps to reduce fuel consumption since it has a low coefficient of friction. Consequently, it helps to keep the engine parts clean, work efficiently, and give optimum combustion efficiency.
The automotive and industrial sectors are the primary application areas for lubricants in the United States. There have been several advances in the ecosystem centered on product development, strategic product placement, value chain optimization, and other factors.
The implementation of new standards and regulations is likely to increase demand for premium engine lubricants and synthetic formulations. With the presence of numerous market competitors in the United States, the automotive and industrial categories are projected to be saturated. The aviation and maritime industries are likely to grow significantly in the next years.
Synthetic oil is sharing a CAGR of 39.6%. Product demand for synthetic and semi-synthetic oil is predicted to rise over the projection period. While mineral oils are going to continue to be popular, producers are focused on the manufacturing of synthetic lubricants to profit from the growing popularity of premium motorcycles.
The introduction of advanced engines in cruisers and sports motorcycles is expected to enhance demand for premium synthetic two-wheeler lubricants. Rising sales of premium bikes such as sports and cruisers in developing countries have resulted in high engine maintenance costs.
Engine oil is predicted to lead the market in terms of application. Manufacturers are choosing premiumization in response to the deployment of modern technology and the demand for qualitative evolution. They are creating a pipeline of technologically new and advanced items
The demand for engine oil lubricants is increased as the popularity of premium motorbikes such as cruisers and sports bikes has grown. In 2023, the segment is predicted to rise by more than 90.2% in volume year on year.
The increased requirement for regular and periodic servicing of two-wheelers for smooth operation and longevity, even in areas with poor road infrastructure, promotes aftermarket sales of two-wheeler lubricants.
The global market for two-wheeler lubricants is highly consolidated. Market leaders are focusing on strategic expansion initiatives such as the formation of strong distribution relationships, joint ventures, and collaborative agreements. They are also investing in research and development and new product introductions to meet the increasing demand for motorcycle and scooter lubricants.
Some of the leading players are also looking to expand their product line to enhance income.
Recent Developments:
| Attribute | Details |
|---|---|
| Market Size Value In 2023 | USD 17,697.3 million |
| Market Size Value in End of Forecast (2033) | USD 24,723.7 million |
| Market Analysis | USD million for Value |
| Key Region Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; The Middle East and Africa |
| Key Segments | By Product, By Application, By Two-Wheeler Type, By Sales Channel, By Region |
| Key Companies Profiled | BP PLC; Pertamina; Petronas; PTT Lubricants; Royal Dutch Shell PLC; ExxonMobil Corporation; Total S.A.; Chevron Corporation; Petron Corporation; Motul; Morris Lubricants; Hindustan Petroleum Corporation Limited; China National Petroleum Corporation; FUCHS |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is predicted to expand at a 3.4% CAGR through 2033.
Rising pollution and traffic congestion are boosting the market.
The market is expected to surpass USD 24,723.7 billion by 2033.
The market is anticipated to be USD 17,697.3 billion in 2023.
Asia Pacific is dominating the global two-wheeler lubricants market.
A CAGR of 3.4% is estimated throughout 2033.
From 2017 to 2022, the market expanded at a 1.7% CAGR.
Japan is slated to account for a 1.5% share by 2033.
The synthetic oil segment is to expand at 39.6% CAGR until 2033.
The market is expected to reach a 1.4% CAGR by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Engine Oil 5.2. Suspension Oil 5.3. Brake Oil 5.4. Chain Oil 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Motorcycles 6.2. Scooters 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. OEM 7.2. Aftermarket 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Pertamina 16.2. Petronas 16.3. PTT Lubricants 16.4. Royal Dutch Shell PLC 16.5. ExxonMobil Corporation 16.6. Total S.A. 16.7. Chevron Corporation 16.8. Petron Corporation 16.9. Motul 16.10. Morris Lubricants 16.11. Hindustan Petroleum Corporation Limited 16.12. China National Petroleum Corporation 17. Assumptions & Acronyms Used 18. Research Methodology
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Two-Wheeler Lubricants Market
