The Global Two-Wheeler Lubricants Market was valued at US$ 16.23 billion in 2021 and is predictable to reach US$ 22.89 billion by 2030; growing at a CAGR of 3.9 % during the forecast period from 2021- 2030.
Lubricant Oil is a type of oil which are used for reducing the friction, heat, and wear/tear between the various mechanical components which are in contact with each other. It is basically in the motorized vehicles referred as motor oil or transmission fluid.
Rising demand for the engine oil in the reduction of wear/ tear of the moving parts/ mechanical components in the two-wheeler is anticipated to shoot the sales of the two-wheeler lubricants. Increasing demand for scooters and motorcycles in developing nations such as China and India are expected to increase the demand for engine oil for all types of two-wheeler lubricants during the forecast period.
Further, increasing population and rising disposable incomes in the emerging economies of South Asia are expected for the rise in the adoption of two-wheeler accelerating the demand for the two-wheeler lubricants market. In addition, with the growing traffic congestion consumers prefer two-wheelers as the fastest and most economical mode of transportation augmenting the market growth. Engine oil accounts for the highest two-wheeler market share owing to the increase in awareness for bike maintenance among the consumers, vehicle servicing, regular oil change interval, and prolonged engine life.
However, increasing environmental concerns, greenhouse & CO2 emissions, and inclination towards improved fuel economy have shifted the inclination towards the adoption of electric vehicles which reduces the engine oils demand restraining the two-wheeler lubricants market growth. Furthermore, a surge in the sales of premium motorcycles such as cruisers and sports demand the maintenance of premium engines.
Asia Pacific region is dominating the market in the developing economies such as Malaysia, Vietnam, India, the Philippines among others witness significant growth in the consumption of two-wheeler lubricants owing to increasing disposable incomes, population surge, increasing urbanization. In addition, the demand for scooters is rising among old age persons and women which augments the manufacturers to increase the production. Such reasons is expected to increase the demand for lubricants during the forecast period.
The Global Two-Wheeler Lubricants Market is segmented by product, application, end-use, sales channel, and region. Based on product, it is categorized into mineral oils, greases, synthetic oils, semi-synthetic oils, and bio-based lubricants. By application, it segments into break oil, chain oil, engine oil, and suspension oil. End-use bifurcates motorcycle and scooter. By sales channel, it is bifurcated into aftermarket and OEM. Based on regional insights, the global two-wheeler lubricants market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
Prominent players inducing the Global Two-Wheeler Lubricants Market are Pertamina, PTT Lubricants, ExxonMobil Corporation, Chevron Corporation, Motul, Hindustan Petroleum Corporation Limited, FUCHS, BP PLC, Petronas, Royal Dutch Shell PLC, Total S.A., Petron Corporation, Morris Lubricants, and China National Petroleum Corporation among others.
Segmentation and Scope of the Global Two-Wheeler Lubricants Market
Global Two-Wheeler Lubricants Market is segmented by product, application, end-use, sales channel, and region.
By Sales Channel
Rest of World
Middle East & Africa
Prominent players in the Global Two-Wheeler Lubricants Market among other includes