Europe 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)
The lubricants market in Europe is expected to grow from US$ 28.66 billion in 2021 to US$ 34.30 billion by 2028; it is estimated to grow at a CAGR of 2.6% from 2021 to 2028.
Lubricant is one of the key components used in the industrial sector, which helps keep the equipment running at peak efficiency and with maximum reliability. There are numerous types of lubricants such as mineral and synthetic lubricants, greases, compressor oils, and cutting fluids used across vertical applications in the industrial sector. It is used in various industries, such as automotive, oil & gas, textile, glass, power generation, paper & pulp, chemicals and petrochemicals, agriculture, manufacturing, food and beverages, pharmaceuticals, and several others. The extensive application of lubricants in various industries and the rapid growth in the industrial sector are the key factors driving the lubricants market. Increasing investment in the industrial sector is augmenting the demand for lubricants significantly. Significant investment prospects and restructured business models in post-pandemic scenarios are the main factors that augment the consumption of lubricants, driving the market growth.
In Europe, currently, the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. Initially, other member states had implemented drastic measures and travel restrictions, including partially closing their borders that impacted the import and export of products. Several industrial bases such as oil & gas, automotive, agriculture, and other industrial sectors have been impacted by the pandemic, negatively impacting the demand for lubricants in the regional market. The gradual upliftment of lockdown restrictions in certain countries in Europe is expected to facilitate the recovery of various industries and logistics operations, impacting the lubricants market in the near future. The European Automobile Manufacturers' Association (ACEA) forecasts that the automotive industry will start to recover in 2021, with sales rising by about 10% compared to 2020. The recovering automotive industry is expected to have a positive impact on the lubricants market over the forecast period.
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 Europe lubricants market. The Europe lubricants market is expected to grow at a good CAGR during the forecast period.
Europe Lubricants Market Revenue and Forecast to 2028 (US$ Billion)
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Europe Lubricants Market Segmentation
Europe Lubricants Market – By Base Oil
- Mineral Oil
- Synthetic
- Bio-Based Lubricants
- Others
Europe Lubricants Market – By Product Type
- Engine Oil
- Hydraulic Oil
- Gear Oil
- Grease
- Compressor Oil
- Others
Europe Lubricants Market – By End Use
- Oil and Gas
- Industrial
- Chemical
- Automotive
- Marine
- Others
Europe Lubricants Market, by Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Europe 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. Europe 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. Europe Lubricants Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Automobile Sector Growing
5.1.2 Sudden Industrial Growth
5.2 Restraints
5.2.1 Regular Change in Lubricants Specifications
5.3 Market Opportunities
5.3.1 Surging Need for Lubricants from Wind Energy Sector
5.4 Future Trend
5.4.1 Rising Popularity for Synthetic Lubricants
5.5 Impact Analysis of Drivers and Restraints
6. Lubricants Market – Europe Analysis
6.1 Lubricants Market Overview
6.2 Europe Lubricants Market –Revenue and Forecast to 2028 (US$ Billion)
7. Europe Lubricants Market - By Base Oil
7.1 Market Overview
7.2 Europe 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. Europe Lubricants Market - By Product Type
8.1 Market Overview
8.2 Europe 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. Europe Lubricants Market Analysis – By End-Use Industries
9.1 Overview
9.2 Europe 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. Europe Lubricants Market – Country Analysis
10.1 Overview
10.1.1 Europe: Lubricants Market, by Key Country
10.1.1.1 Germany: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.1.1 Germany: Lubricants Market, by Base Oil
10.1.1.1.2 Germany: Lubricants Market, by Product Type
10.1.1.1.3 Germany: Lubricants Market, by End User Industry
10.1.1.2 France: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.2.1 France: Lubricants Market, by Base Oil
10.1.1.2.2 France: Lubricants Market, by Product Type
10.1.1.2.3 France: Lubricants Market, by End User Industry
10.1.1.3 Italy: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.3.1 Italy: Lubricants Market, by Base Oil
10.1.1.3.2 Italy: Lubricants Market, by Product Type
10.1.1.3.3 Italy: Lubricants Market, by End User Industry
10.1.1.4 UK: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.4.1 UK: Lubricants Market, by Base Oil
10.1.1.4.2 UK: Lubricants Market, by Product Type
10.1.1.4.3 UK: Lubricants Market, by End User Industry
10.1.1.5 Russia: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.5.1 Russia: Lubricants Market, by Base Oil
10.1.1.5.2 Russia: Lubricants Market, by Product Type
10.1.1.5.3 Russia: Lubricants Market, by End User Industry
10.1.1.6 Rest of Europe: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
10.1.1.6.1 Rest of Europe: Lubricants Market, by Base Oil
10.1.1.6.2 Rest of Europe: Lubricants Market, by Product Type
10.1.1.6.3 Rest of Europe: Lubricants Market, by End User Industry
11. Impact of COVID-19
11.1 Europe: 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. Europe Lubricants Market –Revenue and Forecast to 2028 (US$ Billion)
Table 2. Germany Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)
Table 3. Germany Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)
Table 4. Germany Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)
Table 5. France Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)
Table 6. France Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)
Table 7. France Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)
Table 8. Italy Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)
Table 9. Italy Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)
Table 10. Italy Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)
Table 11. UK Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)
Table 12. UK Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)
Table 13. UK Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)
Table 14. Russia Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)
Table 15. Russia Lubricants Market, by Product Type– Revenue and Forecast to 2028 (USD Billion)
Table 16. Russia Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)
Table 17. Rest of Europe Lubricants Market, by Base Oil – Revenue and Forecast to 2028 (USD Billion)
Table 18. Rest of Europe Lubricants Market, by Product Type – Revenue and Forecast to 2028 (USD Billion)
Table 19. Rest of Europe Lubricants Market, by End User Industry – Revenue and Forecast to 2028 (USD Billion)
Table 20. Glossary of Terms, Europe Lubricants Market
LIST OF FIGURES
Figure 1. Europe Lubricants Market Segmentation
Figure 2. Europe Lubricants Market Segmentation – By Country
Figure 3. Europe Lubricants Market Overview
Figure 4. Mineral Oil Segment Held the Largest Share of Europe Lubricants Market
Figure 5. Rest of Europe Held the Largest Share of Europe Lubricants Market
Figure 6. Expert Opinion
Figure 7. Value Chain Analysis: Europe Lubricants Market
Figure 8. Composition of Raw Materials
Figure 9. Europe Lubricants Market Impact Analysis of Drivers and Restraints
Figure 10. Europe: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 11. Europe Lubricants Market Revenue Share, By Base Oil (2020 and 2028)
Figure 12. Europe Mineral Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 13. Europe Synthetic: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 14. Europe Bio Based Lubricants: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 15. Europe Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 16. Europe Lubricants Market Revenue Share, By Product Type (2020 and 2028)
Figure 17. Europe Engine Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 18. Europe Hydraulic Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 19. Europe Gear Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 20. Europe Grease: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 21. Europe Compressor Oil: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 22. Europe Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 23. Europe Lubricants Market Breakdown, by End-Use Industries (2020 and 2028)
Figure 24. Europe Oil and Gas: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 25. Europe Industrial: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 26. Europe Chemical: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 27. Europe Automotive: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 28. Europe Marine: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 29. Europe Others: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 30. Europe: Lubricants Market, by Key Country – Revenue (2020) (US$ Billion)
Figure 31. Europe: Lubricants Market Revenue Share, by Key Country (2020 and 2028)
Figure 32. Germany: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 33. France: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 34. Italy: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 35. UK: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 36. Russia: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 37. Rest of Europe: Lubricants Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 38. Impact of COVID-19 Pandemic on Lubricants Market in Europe
- BP plc
- Chevron Corporation
- China Petrochemical Corporation (Sinopec)
- Exxon Mobil Corporation
- Fuchs
- Lukoil
- Royal Dutch shell plc
- Total
- Valvoline LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe lubricants market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe lubricants market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the lubricants market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution