Italy Lubricants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 449.30 Million liters |
| Market Volume (2029) | 433.30 Million liters |
| CAGR (2024 - 2029) | -0.72 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Italy Lubricants Market Analysis
The Italy Lubricants Market size is estimated at 449.30 Million liters in 2024, and is expected to decline to 433.30 Million liters by 2029.
The COVID-19 pandemic affected Italy's lubricants market, as with other industries. In the government's lockout, numerous enterprises closed or scaled back, reducing lubricant consumption and reduced lubricant sales and production. However, in 2021, transportation, power generation, and other end-user industries drove market recovery.
- In the short term, the rising use of high-performance lubricants in the vehicle sector and the heavy growth from infrastructure sector are the key driver driving the market's growth.
- However, price changes in raw materials are expected to impede market progress.
- Nevertheless, the advancements in lubricant technology are expected to drive future market growth.
Italy Lubricants Market Trends
Increase in Demand form Automotive Industry
- Lubricants in automobiles are used to reduce friction and wear between two moving parts, enhance fuel economy, and reduce noise and vibration. They aid with the smooth operation of engines and prevent wear and tear.
- Engine oil, transmission fluid, and gear oil are the three types of automotive lubricants. Engine oil lubricates the engine's moving elements, such as the pistons and crankshaft. Transmission fluid lubricates transmission components like gears and bearings. The gears in the differential and transfer case are lubricated with gear oil.
- According to OICA, commercial vehicle sales in Italy reached 189.06 units, and passenger car production reached 1,316.9 units in 2022.
- In addition, according to CONEBI 鈥� Confederation of the European Bicycle Industry, the number of electric bicycles sold in Italy reached 337,000 units in 2022, growing by 14 percent compared to the previous year.
- In addition, the Italian government took measures to encourage citizens to buy hybrid and electric vehicles by offering tax discounts, grants, and other forms of financial support.
- The reasons above will have a considerable impact on Italy's demand for lubricating engine oil.
Engine Oil to Dominate the Lubricants Market
- Engine oil is a type of lubricant used to keep the moving elements of an internal combustion engine from rubbing against one another and wearing out prematurely. Its purpose is to lengthen the machine's life while reducing the amount of wear it undergoes. In addition to protecting the engine from corrosion, engine oil helps maintain a clean engine.
- Many different types of engines require engine oils, including automobile engines, motorcycle engines, truck engines, marine engines, industrial engines, agricultural engines, aircraft engines, generator engines, and lawnmower engines, among others.
- Regular oil changes are necessary for hybrid vehicles, just like other cars. For hybrid vehicles, the type of motor oil required is synthetic, engineered to improve fuel economy, and has a longer lifespan than conventional motor oils. This type of oil is typically a 5W-30, formulated to preserve the engine, lessen the number of emissions produced by the vehicle, and increase the vehicle's overall performance.
- As per the OICA, Italy's automotive sector achieved sales of 1.51 million motor vehicles in 2022, with passenger cars constituting 87.45 percent of this figure. However, Italy maintained its position as the fourth-largest vehicle market in Europe during 2022
- Further, according to UNRAE - National Union of Foreign Motor Vehicle Representatives, the Fiat 500e was Italy's best-selling battery-electric vehicle model in 2022, with nearly 6,300 units sold in the country. It was followed by the Smart ForTwo and Tesla Model Y, at approximately 4,550 and 4,300 sales, respectively.
- Similarly, Lubricants play a crucial role in electricity generation, ensuring efficient operation and longevity of equipment like turbines and generators by reducing friction and minimizing wear.
- For instance, in 2022, the net electricity production in Italy amounted to just above 276 terawatt-hours, down from approximately 280 terawatt-hours the previous year.
- All the aforementioned factors can lead to a further increase in demand for engine oils and help it sustain its dominance in the market because as the engine of a vehicle starts to get old, its engine oil demand also increases gradually.
Italy Lubricants Industry Overview
The lubricants market in Italy is partially consolidated in nature. Some of the major players in the market (not in any particular order) include Exxon Mobil Corporation, Kuwait Petroleum Corporation, TotalEnergies SE, BP PLC (Castrol), and Shell plc, among others.
Italy Lubricants Market Leaders
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Exxon Mobil Corporation
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Kuwait Petroleum Corporation
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Shell Plc
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BP Plc
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Italy Lubricants Market News
- January 2023: Eni announced that it is forming a new company called Eni Sustainable Mobility. This new company will focus on sustainable transportation. Eni Sustainable Mobility will work on bio-refining, biomethane, and the sale of mobility products and services in Italy and other countries. It will help the company grow into a multi-service, multi-energy company.
- July 2022: ExxonMobil introduced the Mobil Super line of lubricants. According to the manufacturer, this next-generation synthetic passenger vehicle lubricant provides superior technology, meets the most recent BS-VI criteria, and improves fuel economy.
Italy Lubricants Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 High Demand from the Electric Vechicles Industry
4.1.2 The Rising Use of High-Performance Lubricants in the Vehicle Sector
4.2 Restraints
4.2.1 Raw Material Price Fluctuations
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Product Type
5.1.1 Engine Oils
5.1.2 Transmission and Gear Oils
5.1.3 Hydraulic Fluids
5.1.4 Metalworking Fluids
5.1.5 Greases
5.1.6 Other Product Types
5.2 End-user Industry
5.2.1 Power Generation
5.2.2 Automotive
5.2.3 Heavy Equipment
5.2.4 Metallurgy and Metal Working
5.2.5 Other End-user Industries
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Bardahl Manufacturing Corporation
6.4.2 BP Plc (Castrol)
6.4.3 Eni
6.4.4 Exxon Mobil Corporation
6.4.5 Fuchs
6.4.6 Kuwait Petroleum Corporation
6.4.7 Liqui Moly
6.4.8 Repsol
6.4.9 Shell Plc
6.4.10 TotalEnergies SE
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Developments in Synthetic and Bio-based Lubricants
7.2 Rising Lubricant Consumption Due to the Use of Renewable Energy Sources like Wind Turbines
Italy Lubricants Industry Segmentation
Lubricants are compounds used to reduce friction between two surfaces in contact with one another. They reduce machine wear and tear, increase efficiency, and prevent corrosion.
The lubricants market in Italy is segmented by product type and end-user industry. Based on product type, the market is segmented into engine oils, transmission and gear oils, hydraulic fluids, metalworking fluids, greases, and other product types (compressor oils, turbine oils, and others). Based on end-user industry, the market is segmented by power generation, automotive, heavy equipment, metallurgy and metalworking, and other end-user industries(aerospace, marine, and others). For each segment, market sizing and forecasts have been done based on volume (liters).
| Product Type | |
| Engine Oils | |
| Transmission and Gear Oils | |
| Hydraulic Fluids | |
| Metalworking Fluids | |
| Greases | |
| Other Product Types |
| End-user Industry | |
| Power Generation | |
| Automotive | |
| Heavy Equipment | |
| Metallurgy and Metal Working | |
| Other End-user Industries |
Italy Lubricants Market Research FAQs
What is the current Italy Lubricants Market size?
In 2024, the Italy Lubricants Market size is expected to reach 449.30 million liters.
Who are the key players in Italy Lubricants Market?
Exxon Mobil Corporation, Kuwait Petroleum Corporation, Shell Plc, BP Plc and TotalEnergies are the major companies operating in the Italy Lubricants Market.
What years does this Italy Lubricants Market cover, and what was the market size in 2023?
In 2023, the Italy Lubricants Market size was estimated at 452.53 million liters. The report covers the Italy Lubricants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Italy Lubricants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Italy Lubricants Industry Report
Statistics for the 2024 Italy Lubricants market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Italy Lubricants analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
