Italy Lubricants Market Size
|CAGR:||> 2.5 %|
*Disclaimer: Major Players sorted in no particular order
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Italy Lubricants Market Analysis
The lubricants market in Italy is projected to register a CAGR of over 2.5% during the forecast period.
The COVID-19 pandemic affected Italy's lubricants market, as with other industries. 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 is the key driver driving the market's growth.
- However, price changes in raw materials are expected to impede market progress.
- The demand for electric automobiles and wind turbines is expected to drive future market growth.
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. The market is segmented by product type: engine oils, transmission and gear oils, hydraulic fluids, metalworking fluids, greases, and other product types. The market is segmented by end-user industries: power generation, automotive, heavy equipment, metallurgy and metalworking, and other end-user industries. For each segment, market sizing and forecasts have been done based on volume (million liters).
|Transmission and Gear Oils|
|Other Product Types|
|Metallurgy and Metal Working|
|Other End-user Industries|
Italy Lubricants Market Trends
This section covers the major market trends shaping the Italy Lubricants Market according to our research experts:
Increase in Demand for Engine Oils
- 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 a synthetic one engineered to improve fuel economy and have 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.
- Over the past few years, there was a rise in the number of hybrid vehicles driven in Italy. Over 110,000 hybrid cars had been registered in Italy as of 2021, which is a 150% increase from the year before. The Toyota Yaris Hybrid, the Toyota Auris Hybrid, the Fiat 500e, and the BMW i3 are among the hybrid vehicles that are the most often purchased in Italy.
- 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.
- It is projected that the reasons above will have a considerable impact on Italy's demand for lubricating engine oil.
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Automotive Industry to Dominate the Market
- 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.
- A few different lubricants on the market were developed with electric vehicles in mind. These lubricants were explicitly designed to be compatible with electric cars' motors, controllers, and other components.
- Lubricants for electric vehicles typically contain a variety of additives that, to varying degrees, work to protect against wear, corrosion, and oxidation. The number of electric cars on the roads in Italy increased by 118% during the previous year (2021), reaching 120,000 units.
- The factors above are anticipated to impact Italy's lubricant industry substantially.
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
BP Plc (Castrol)
Exxon Mobil Corporation
Kuwait Petroleum Corporation
*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.
- December 2022: Aljomaih and Shell Lubricating Oil Company (JOSLOC) launched Rotella HD 25W50 for diesel engines used in heavy-duty trucks, buses, agricultural equipment, and mining and construction vehicles, among others. It provides an advanced triple-action protection formula that minimizes wear for long engine life, reduces deposit formation to maintain performance, and improves resistance to breakdowns caused by excessive heat.
- 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
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 High Demand from the Electric Vechicles Industry
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
5.1.6 Other Product Types
5.2 End-user Industry
5.2.1 Power Generation
5.2.3 Heavy Equipment
5.2.4 Metallurgy and Metal Working
5.2.5 Other End-user Industries
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis** / 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)
6.4.4 Exxon Mobil Corporation
6.4.6 Kuwait Petroleum Corporation
6.4.7 Liqui Moly
6.4.9 Shell Plc
6.4.10 TotalEnergies SE
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 Market Research FAQs
What is the study period of this market?
The Italy Lubricants Market is studied from 2018 - 2028.
What is the growth rate of Italy Lubricants Market?
The Italy Lubricants Market is growing at a CAGR of >2.5% over the next 5 years.
Who are the key players in Italy Lubricants Market?
BP Plc (Castrol), Exxon Mobil Corporation, Kuwait Petroleum Corporation, TotalEnergies SE, Shell Plc are the major companies operating in Italy Lubricants Market.
Italy Lubricants Industry Report
Statistics for the 2023 Italy Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Italy Lubricants analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.