According to The Insight Partners' research, the North America Lubricants Market was valued at US$ 35,990.7 Million in 2024 and is expected to reach US$ 44,718.9 Million by 2031, registering a CAGR of 3.4% from 2025 to 2031.
Booming automobile sector and surging demand for bio-based and sustainable lubricants in various industries are among the critical factors attributed to the North America lubricants market expansion.
Manufacturers globally are investing in improving their supply chain to increase automobile sales in developing regions. In 2024, US new vehicle sales increased by 2.7% to over 16 million units, the highest since 2019. Electric vehicle (EV) sales continued to grow, increasing by 8.8% to nearly 1.3 million units, accounting for approximately 8% of the market. In Canada, new vehicle sales rose by 9.5% to around 1.92 million units, with zero-emission vehicles (ZEVs) accounting for 13.8%. Traditionally, lubricants have been essential in internal combustion engine (ICE) vehicles, where they reduce friction, prevent wear, and help manage engine heat. However, the rise of EVs has introduced a new dynamic to the lubricants market. Electric vehicles, despite not having traditional engines, still rely on lubricants in several components such as transmissions, motors, and other drivetrain parts. These vehicles often require specialized lubricants to ensure efficient power transfer, cooling, and long-term durability of electric motor components. As EVs typically use different mechanical structures than ICE vehicles, the demand for high-performance lubricants has expanded to meet the unique needs of these systems. According to the International Energy Agency's annual Global Electric Vehicle Outlook, over 14 million electric cars were sold worldwide in 2023. Thus, the overall growth of the automobile industry accelerates the demand for lubricants, which contribute to better vehicle performance and longevity.
On the contrary, the fluctuation in raw material prices hampers the growth of North America lubricants market.
North America Lubricants Market Segmentation Analysis:
- By Base Oil, the North America Lubricants Market is segmented into Mineral Oil, Synthetic Oil, and Bio-based Oil. The Mineral Oil segment is projected to expand at 3.3% CAGR during 2025 - 2031.
- By Type, the North America Lubricants Market is segmented into Hydraulic Fluid, Engine Oil, Driveline Lubricants, Metalworking Fluids, Grease, Process Oils, Coolants, and Others. The Engine Oil segment is projected to expand at 4.3% CAGR during 2025 - 2031.
- By End-use Industry, the North America Lubricants Market is segmented into Automotive, Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, Others1, Building and Construction, Power Generation, Mining and Metallurgy, Food Processing, Oil and Gas, Marine, Aviation, and Others. The Automotive segment is projected to expand at 4.3% CAGR during 2025 - 2031.
By country, the North America Lubricants Market is categorized into the United States, Canada, and Mexico. The United States is projected to expand at 3.4% CAGR during 2025 - 2031.
Key players operating in the Lubricants Market are Exxon Mobil Corp, TotalEnergies SE, Shell Plc, Chevron Corp, BP Plc, Lukoil, Fuchs SE, Valvoline Inc., Petro-Canada Lubricants Inc., Repsol SA, ENEOS Holdings Inc., Gulf Oil International Ltd, Compania Espanola de Petroleos SA, Puma Energy Holdings Pte Ltd, China National Petroleum Corporation (CNPC), PETROFER Chemie H. R. Fischer GmbH + Co. KG, and GP Global Group, among others.
- December 2022, Pennzoil-Quaker State Company d/b/a SOPUS Products, a wholly-owned subsidiary of Shell USA, Inc. ("Shell") that comprises Shell's US lubricants business, has signed an agreement to acquire 100% of TFH Reliability Group, LLC, the parent company of Allied Reliability Inc. ("Allied Reliability").
- April 2024, Shell Lubricants and Ducati will co-design high-performance motorcycle engine oils for a further three years. Shell also continues to supply the oils to Ducati's global dealer network as part of an extension of a collaboration established in 2020.
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