Industrial Lubricants Market To Reach $73.01 Billion By 2033

Industrial Lubricants Market Growth & Trends

The global industrial lubricants market size is expected to reach USD 73.01 billion by 2033, registering a CAGR of 2.8% from 2026 to 2033, according to a new report by Grand View Research, Inc. Improving PMI indices across the globe and resultant rise in production capacities are anticipated to boost the demand for industrial lubricants. Moreover, rising manufacturing activities are touted to spur investments in production machinery, thereby creating a strong growth potential for industrial lubricants.

High consumption of general industrial oils generate significant revenue attributing to the growth of industrial lubricants market. Related industries, such as chemicals, unconventional energy and mining, are slated to witness considerable growth. This trend is anticipated to further boost the product demand in compressors, industrial engines, hydraulics, centrifuges, and bearings. Companies are investing heavily in R&D for the development of innovative products to gain competitive edge in the industry. There has been a shift in trend towards use of bio-based raw materials due to rising awareness regarding the need for emission reduction and energy conservation.

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Industrial Lubricants Market Report Highlights

• The process oils segment dominated the global industrial lubricants market, accounting for the largest revenue share of 34.9% in 2025.

• The power generation segment dominated the global industrial lubricants market, accounting for the largest revenue share of 26.6% in 2025.

• Asia Pacific led the global industrial lubricants market in 2025, accounting for 34.1% of total revenue, driven by rapid industrialization, expanding manufacturing capacity, and strong growth in mining, power generation, and steel & metals across China, India, and Southeast Asia.

Industrial Lubricants Market Segmentation

Grand View Research has segmented the global industrial lubricants market on the basis of product, application, and region:

Industrial Lubricants Product Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2033)

• Process Oils

• General Industrial Oils

• Metalworking Fluids

• Industrial Engine Oils

• Other Products

Industrial Lubricants Application Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2033)

• Mining

• Power Generation

• Food Processing

• Chemical Manufacturing

• Textile Manufacturing

• Steel & Metals

• Other Applications

Industrial Lubricants Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Russia

  • Spain

• Asia Pacific

  • China

  • India

  • Indonesia

• Middle East & Africa

  • Saudi Arabia

  • South Africa

• Latin America

  • Brazil

  • Argentina

List of Key Players in the Industrial Lubricants Market

• Exxon Mobil Corporation

• FUCHS

• Lubrizol

• Shell Global

• TotalEnergies

• Klüber Lubrication

• Valvoline Global Operations

• Chevron Corporation

• Quaker Chemical Corporation

• Castrol Limited