Surging Demand for High-Performance Lubricants Bolsters Industrial Lubricants Market Growth
According to our latest study on "Industrial Lubricants Market Size and Forecast (2021–2031), Global and Regional Growth Opportunity Analysis – by type, product type and end-use industry," the market size is expected to grow from US$ 89.58 billion in 2024 to US$ 113.78 billion by 2031; the industrial lubricants market is estimated to register a CAGR of 3.7% from 2025 to 2031. The report highlights key factors driving the industrial lubricants market growth and prominent players, along with their developments in the market. The report also covers the industrial lubricants market trends and their foreseeable impact during the forecast period.
The rising industrial lubricants market share is driven by the increasing demand for efficiency, reliability, and extended service life of machinery and equipment used in various industries. Industrial lubricants such as oils, greases, and specialty fluids are essential in the reduction of friction, minimization of wear and tear, dissipation of heat, and prevention of corrosion in mechanical systems. The focus on operational efficiency and cost savings promotes the use of high-performance lubricants, which increases the productivity of equipment and decreases downtime. Technological progress in lubricant compositions, e.g., synthetic and semi-synthetic products, enhances thermal stability, oxidizing strength, and carrying capacity to sustain the changing needs of modern machinery. Stringent environmental controls and sustainability efforts have led to the innovation of environmentally and biodegradable lubrication products.
Industrial Lubricants Market Breakdown – by Region
Industrial Lubricants Market Share, Demand & Forecast 2031
Download Free SampleIndustrial Lubricants Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Mineral Oil, Synthetic Oil, and Bio-Based Oil), Product Type (Hydraulic Fluid, Engine Oil, Driveline Lubricants, Metalworking Fluids, Grease, Process Oils, Coolants, and Others), By End Use Industry (Building and Construction, Power Generation, Mining and Metallurgy, Food Processing, Oil and Gas, Marine, Aviation, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
The building and construction industry engages heavily with high-power machines and equipment, such as cranes, bulldozers, excavators, concrete mixers, and construction vehicles. Such machines are subjected to poor working conditions such as high temperatures, high loads, and constant movement, thus causing high mechanical stress and wear. Industrial lubricants are a significant in the activities of hydraulic systems, engines, gearboxes, and bearings in construction machinery. Adequate lubrication improves the productivity and life span of machinery, besides lowering the cost of maintenance and unexpected downtime, which is crucial in large-scale building projects where delays can be costly.
The increasing rate of urbanization, infrastructure development, and government investment in construction projects in the world and across the emerging economies are contributing to the growing industrial lubricants market share. The move toward mechanized and automated construction operations exacerbates the requirement for high-performance and accuracy equipment-friendly advanced lubrication solutions. Consequently, construction companies are turning toward the use of specialized lubricants as a way of ensuring continuity in their operation, enhancing fuel economy, and safety and reliability in the field. Such factors make the building and construction industry the largest consumer of industrial lubricants, reinforcing the critical role of lubricants in maintaining equipment performance under demanding conditions.
The industrial lubricants market analysis has been performed by considering the following segments: type, product type, and end-use industry. By type, the industrial lubricants market is segmented into mineral oil, synthetic oil, and bio-based oil. The mineral oil segment accounted for the largest market share in 2024. Based on product type, the market is classified into hydraulic fluid, engine oil, driveline lubricants, metalworking fluids, grease, process oils, coolants, and others. The engine oil segment accounted for the largest market share in 2024. On the basis of end-use industry, the market is categorized into building and construction, power generation, mining and metallurgy, food processing, oil and gas, marine, aviation, and others. The building and construction segment accounted for the largest market share in 2024.
The industrial lubricants market forecast can help stakeholders plan their growth strategies. China Petroleum & Chemical Corp (Sinopec), Exxon Mobil Corp, BP Plc, Shell Plc, Kluber Lubrication GmbH & Co KG, Chevron Corp, Phillips 66, TotalEnergies SE, Valvoline Inc, Fuchs SE, are among the prominent players profiled in the industrial lubricants market report. These players are focusing on providing high-quality products to fulfill customer demand. They are adopting new product launches, capacity expansions, partnerships, and collaborations to stay competitive in the industrial lubricants market.
The geographical scope of the industrial lubricants market report focuses on North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The market in North America is segmented into the US, Canada, and Mexico. The market in Europe is divided into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The market in South & Central America is classified into Brazil, Argentina, and the Rest of South & Central America.
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