Market Size of Two-Wheeler Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Two Wheeler Lubricants Market Analysis
The Two-Wheeler Lubricants Market is projected to register a CAGR of more than 4% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is now estimated to have reached pre-pandemic levels and is expected to grow steadily.
- Increasing demand for engine oils from developing countries is fuelling market growth.
- Increasing sales of motorcycles in countries such as India, China, etc., are expected to fuel the market's growth.
- On the other hand, the increasing penetration of electric vehicles is likely to hamper the market growth.
- The Asia-Pacific region dominated the global market, with the largest consumption from countries such as China, India, and Japan.
Two Wheeler Lubricants Industry Segmentation
Lubricant products are made from a combination of base oils and additives. The composition of base oil in the formulation of lubricants is primarily between 75-90%. The Two-Wheeler Lubricants Market is segmented by product type, end-user industry, and geography. The market is segmented by product type into engine, hydraulic, brake, and chain oil. By end-user industry, the market is segmented into motorcycles and scooters. The report also covers the market size and forecasts for two-wheeler lubricants in 15 countries across major regions. Each segment's market sizing and forecasts are based on volume (million liters).
| Product Type | |
| Engine Oil | |
| Hydraulic Oil | |
| Brake Oil | |
| Chain Oil |
| End-user Industry | |
| Motorcycles | |
| Scooters |
| Geography | ||||||||
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Two-Wheeler Lubricants Market Size Summary
The two-wheeler lubricants market is experiencing a steady growth trajectory, driven by increasing demand for engine oils, particularly in developing countries. The market, which faced setbacks due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is projected to continue expanding. The surge in motorcycle sales in countries like India and China is a significant contributor to this growth. However, the rising adoption of electric vehicles poses a potential challenge to market expansion. The Asia-Pacific region leads the global market, with China, India, and Japan being the largest consumers. Engine oils, essential for lubricating internal combustion engines, play a crucial role in enhancing engine performance and longevity through various additives that reduce friction, wear, and tear.
The demand for two-wheeler lubricants is particularly robust in developing regions, with Asia-Pacific emerging as the fastest-growing market. Factors such as urbanization, increasing disposable incomes, and competitive pricing among manufacturers are driving this demand. Countries like Bangladesh, Pakistan, and the Philippines are witnessing a rise in both new and used bike sales, further bolstering market growth. The market is characterized by its fragmented nature, with key players including BP p.l.c., Shell plc, PT Pertamina(Persero), TotalEnergies, and Idemitsu Kosan Co., Ltd. Recent strategic moves by companies, such as Shell's acquisition of Allied Reliability and ENEOS Motor Oil's product launch in the Philippines, highlight ongoing efforts to strengthen market presence and cater to the growing demand for two-wheeler lubricants.
Two-Wheeler Lubricants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Engine Oils from Developing Countries
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Increasing Penetration of Electric Vehicles
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Product Type
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2.1.1 Engine Oil
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2.1.2 Hydraulic Oil
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2.1.3 Brake Oil
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2.1.4 Chain Oil
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2.2 End-user Industry
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2.2.1 Motorcycles
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2.2.2 Scooters
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.2.4 Rest of North America
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Russia
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East & Africa
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Two-Wheeler Lubricants Market Size FAQs
What is the current Two-Wheeler Lubricants Market size?
The Two-Wheeler Lubricants Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Two-Wheeler Lubricants Market?
Idemitsu Kosan Co., Ltd, BP p.l.c., PT Pertamina(Persero), TotalEnergies and Shell plc are the major companies operating in the Two-Wheeler Lubricants Market.
