U.S. Quick Lube Equipment Market Size

U.S. Quick Lube Equipment Market Size

U.S. Quick Lube Equipment Market size was over USD 16.5 million in 2020 and is estimated to grow at over 4% CAGR between 2021 and 2027 owing to increasing prevalence of stringent emission norms and demand for passenger vehicles as they are often used for traveling in the U.S. The well-established automotive industry in the U.S. and extensive application of quick lube equipment in passenger vehicles promotes the market growth over the forecast period.  

The booming automotive industry is one of the significant reasons that is propelling market growth. Quick lube equipment is used in passenger and commercial vehicles for constant supply of lubricating fluids such as oil and grease. Additionally, it helps to reduce maintenance cost as well as increase labor forces efficiency, accurate lubrication, and profitability. These listed factors are projected to soar quick lube equipment demand from the automotive industry for its application in vehicles.  

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The outbreak of covid-19 has affected every industry to some extent, in which the maintenance & repair service sector has witnessed a significant impact during and post COVID-19. During the global lockdown, the demand for maintenance & repair and oiling was very low due to no vehicle movement in the market.

The transportation of essential goods and services has aided the sector to sustain in the market during the COVID-19 pandemic; therefore, during the global lockdown, the demand for quick lube equipment was very low. However, the demand is expected to recover over a period of time. The deferred maintenance toward the start of the pandemic is now driving customers to visit repair and maintenance, which will slightly increase the demand for quick lube equipment in the U.S. market.

The government support for long range zero-emission vehicles with benefits of subsidies & tax rebates has compelled manufacturers to provide electric vehicles. Electric vehicles are slowing but surely gaining traction in the U.S. as most research indicate that electric vehicles will soon be overflowing on the streets and roadside charging points will be a common sight. Therefore, the growing demand for electric vehicles in the region will hinder the growth of the U.S. quick lube equipment market over the coming years.

Nevertheless, most oil-centric companies offer far more than oil changes and expanded their range of services to include filter replacement, vehicle inspections, onsite car washes, and many more to sustain in the market over the forecast period.