North America Lubricants Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Base Oil (Mineral Oil, Synthetic, Bio-Based Lubricants, and Others), Product Type (Engine Oil, Hydraulic Oil, Gear Oil, Grease, Compressor Oil, and Others), and End Use (Oil and Gas, Industrial, Chemical, Automotive, Marine, and Others)       

Code: TIPRE00027236 | Pages: 150 | Industry: Chemicals and Materials | Date: Feb 2022 | Type: Regional

The lubricants market in North America is expected to grow from US$ 34.47 billion in 2021 to US$ 40.03 billion by 2028; it is estimated to grow at a CAGR of 2.2% from 2021 to 2028.

The US, Canada, and Mexico are major economies in North America. The North America automotive sector has witnessed tremendous growth in the last decade and is expected to rise steadily during the forecast period. The COVID-19 pandemic significantly impacted the sector's growth in 2020 and 2021 due to several factors, such as nationwide lockdowns and a decline in investments. However, the industry is expected to gradually gain its pre-COVID growth rate by FY 2022–2023. The automotive industry has been negatively impacted due to the pandemic. However, ease in the travel ban, rise in transportation activities, and mass vaccination program in 2021 have aided the automotive industry, fueling automobile sales. Numerous companies operating in the automotive market are investing heavily in the automobile manufacturing sector to increase production and, eventually, sales for the company.  The increasing population, rise in disposable income, and easy availability of credit and financing are the key factors boosting automobile sales. Thus, increasing sales in the automotive industry are fueling the consumption of lubricants, which helps drive the market. The increasing investment in electric vehicles is also propelling the lubricants market substantially. Thus, the booming investment trend in the automotive industry is fueling the growth in the market for lubricants.

 

The US has the highest number of confirmed COVID-19 cases among all key countries in the region. It has negatively impacted the overall production and end-use industries, limiting the market growth. Moreover, as per the data published by the US Government, approximately 60% of the total US population were fully vaccinated by November 2021.

Various industries in North America are also recovering now. For instance, as per the Statistics Canada, automobile sales increased by 25% in the first seven months of 2021. The recovering prospects from the automotive industry and the growth in the industrial sector are anticipated to propel the demand for lubricants in the upcoming years.

 

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America lubricants market. The North America lubricants market is expected to grow at a good CAGR during the forecast period.

 

North America Lubricants Market Revenue and Forecast to 2028 (US$ Billion)

North America Lubricants Market Revenue and Forecast to 2028 (US$ Billion)

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North America Lubricants Market Segmentation

North America Lubricants Market – By Base Oil

  • Mineral Oil
  • Synthetic
  • Bio-Based Lubricants
  • Others

North America Lubricants Market – By Product Type

  • Engine Oil
  • Hydraulic Oil
  • Gear Oil
  • Grease
  • Compressor Oil
  • Others

North America Lubricants Market – By End Use

  • Oil and Gas
  • Industrial
  • Chemical
  • Automotive
  • Marine
  • Others

North America Lubricants Market, by Country

  • US
  • Canada
  • Mexico

North America Lubricants Market - Companies Mentioned

  • BP plc
  • Chevron Corporation
  • China Petrochemical Corporation (Sinopec)
  • Exxon Mobil Corporation
  • Fuchs
  • Lukoil
  • Royal Dutch shell plc
  • Total
  • Valvoline LLC

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.        Research Methodology

3.1         Scope of the Study

3.2         Research Methodology

3.2.1        Data Collection:

3.2.2        Primary Interviews:

3.2.3        Hypothesis formulation:

3.2.4        Macro-economic factor analysis:

3.2.5        Developing base number:

3.2.6        Data Triangulation:

3.2.7        Country level data:

4.           North America Lubricants Market Landscape

4.1         Market Overview

4.2         Porter’s Five Forces Analysis

4.3         Expert Opinion

4.4         Value Chain Analysis

4.4.1        Raw Material:

4.4.2        Manufacturing/Process:

4.4.3        End Use:

5.           North America Lubricants Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Rising Automobile Sector

5.1.2        Fast Industrial Growth

5.2         Restraints

5.2.1        Lubricants Specifications Changing Frequently

5.3         Market Opportunities

5.3.1        Rising Need for Lubricants from Wind Energy Sector

5.4         Future Trend

5.4.1        Synthetic Lubricants Getting Popular

5.5         Impact Analysis of Drivers and Restraints

6.           Lubricants Market – North America Analysis

6.1         Lubricants Market Overview

6.2         North America Lubricants Market –Revenue and Forecast to 2028 (US$ Billion)

7.           North America Lubricants Market - By Base Oil

7.1         Market Overview

7.2         North America Lubricants Market, By Base Oil (2020 and 2028)

7.3         Mineral Oil

7.3.1        Mineral Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

7.4         Synthetic

7.4.1        Synthetic: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

7.5         Bio Based Lubricants

7.5.1        Bio Based Lubricants: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

7.6         Others

7.6.1        Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

8.           North America Lubricants Market - By Product Type

8.1         Market Overview

8.2         North America Lubricants Market, By Product Type (2020 and 2028)

8.3         Engine Oil

8.3.1        Engine Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

8.4         Hydraulic Oil

8.4.1        Hydraulic Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

8.5         Gear Oil

8.5.1        Gear Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

8.6         Grease

8.6.1        Grease: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

8.7         Compressor Oil

8.7.1        Compressor Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

8.8         Others

8.8.1        Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

9.           North America Lubricants Market Analysis – By End-Use Industries

9.1         Overview

9.2         North America Lubricants Market, By End-Use Industries (2020 and 2028)

9.3         Oil and Gas

9.3.1        Oil and Gas: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

9.4         Industrial

9.4.1        Industrial: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

9.5         Chemical

9.5.1        Chemical: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

9.6         Automotive

9.6.1        Automotive: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

9.7         Marine

9.7.1        Marine: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

9.8         Others

9.8.1        Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

10.        North America Lubricants Market – Country Analysis

10.1      Overview

10.1.1     North America: Lubricants Market, by Key Country

10.1.1.1       US: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.1.1       US: Lubricants Market, by Base Oil

10.1.1.1.2       US: Lubricants Market, by Product Type

10.1.1.1.3       US: Lubricants Market, by End User Industry Industry

10.1.1.2       Canada: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.2.1       Canada: Lubricants Market, by Base Oil

10.1.1.2.2       Canada: Lubricants Market, by Product Type

10.1.1.2.3       Canada: Lubricants Market, by End User Industry

10.1.1.3       Mexico: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

10.1.1.3.1       Mexico: Lubricants Market, by Base Oil

10.1.1.3.2       Mexico: Lubricants Market, by Product Type

10.1.1.3.3       Mexico: Lubricants Market, by End User Industry

11.        Impact of COVID-19

11.1      North America: Impact Assessment of COVID-19 Pandemic

12.        Industry Landscape

12.1      Overview

12.2      Merger & Acquisition

12.3      Business Planning and Strategy

12.4    Expansion & Collaboration

12.5      Product News

13.        Company Profiles

13.1      Royal Dutch Shell plc

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2      EXXON MOBIL CORPORATION

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4

13.2.5     Financial Overview

13.2.6     SWOT Analysis

13.2.7     Key Developments

13.3      Total

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4      Chevron Corporation

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5      BP p.l.c.

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6      Lukoil

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7      FUCHS

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8      Valvoline LLC

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9      China Petrochemical Corporation (Sinopec)

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

14.        Appendix

14.1      About The Insight Partners

14.2      Glossary of Terms

LIST OF TABLES

Table 1.             North America Lubricants Market –Revenue and Forecast to 2028 (US$ Billion)

Table 2.             US Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)

Table 3.             US Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)

Table 4.             US Lubricants Market, by End User Industry Industry – Revenue and Forecast to 2028 (USD Billion)

Table 5.             Canada Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)

Table 6.             Canada Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)

Table 7.             Canada Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)

Table 8.             Mexico Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)

Table 9.             Mexico Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)

Table 10.          Mexico Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)

Table 11.          Glossary of Terms, North America Lubricants Market

 


LIST OF FIGURES

Figure 1.           North America Lubricants Market Segmentation

Figure 2.           North America Lubricants Market Segmentation – By Country

Figure 3.           North America Lubricants Market Overview

Figure 4.           Mineral Oil Segment Held the Largest Share of North America Lubricants Market

Figure 5.           US Held the Largest Share of North America Lubricants Market

Figure 6.           Expert Opinion

Figure 7.           Value Chain Analysis: North America Lubricants Market

Figure 8.           Composition of Raw Materials

Figure 9.           North America Lubricants Market Impact Analysis of Drivers and Restraints

Figure 10.        North America: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 11.        North America Lubricants Market Revenue Share, By Base Oil (2020 and 2028)

Figure 12.        North America Mineral Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 13.        North America Synthetic: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 14.        North America Bio Based Lubricants : Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 15.        North America Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 16.        North America Lubricants Market Revenue Share, By Product Type (2020 and 2028)

Figure 17.        North America Engine Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 18.        North America Hydraulic Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 19.        North America Gear Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 20.        North America Grease: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 21.        North America Compressor Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 22.        North America Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 23.        North America Lubricants Market Breakdown, by End-Use Industries (2020 and 2028)

Figure 24.        North America Oil and Gas: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 25.        North America Industrial: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 26.        North America Chemical: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 27.        North America Automotive: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 28.        North America Marine: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 29.        North America Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 30.        North America: Lubricants Market, by Key Country – Revenue (2020) (US$ Billion)

Figure 31.        North America: Lubricants Market Revenue Share, by Key Country (2020 and 2028)

Figure 32.        US: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 33.        Canada: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 34.        Mexico: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)

Figure 35.        Impact of COVID-19 Pandemic on Lubricants Market in North America

  1. BP plc
  2. Chevron Corporation
  3. China Petrochemical Corporation (Sinopec)
  4. Exxon Mobil Corporation
  5. Fuchs
  6. Lukoil
  7. Royal Dutch shell plc
  8. Total
  9. Valvoline LLC
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